DUBLIN--(BUSINESS WIRE)--The "Asphalt Additives Market by Type (Polymeric Modifiers, Anti-strip & Adhesion Promoters, Emulsifiers), Application (Road Construction & Paving, Roofing), Technology (Hot Mix, Cold Mix, and Warm Mix) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Asphalt Additive Market is Projected to Grow from USD 3.6 Billion in 2019 to USD 6.3 Billion by 2029, at a CAGR of 5.7% from 2019 to 2029.
Increasing developments in the Asia Pacific infrastructure market, recyclability of asphalt, development of warm-mix asphalt, and increasing use of asphalt in roofing applications is fueling the growth of the market across the globe. The use of concrete and bio asphalt as substitutes for asphalt and volatility in the prices and supply of the material acts as a major restraint for the growth of asphalt additives market during the forecast period.
The rejuvenators segment is the fastest growing type segment, in terms of value during the forecast period
Based on type, the rejuvenators segment is projected to grow at the highest CAGR. Increasing use of recycled materials, such as Reclaimed Asphalt Pavement (RAP) and Recycled Asphalt Shingles (RAS) in the asphalt pavements application, has resulted in the growing demand for rejuvenator asphalt additives to restore the strength and durability of aged binders. Rejuvenators are being widely used to improve properties, such as viscosity, of ageing binders. The growth of this segment is due to the increased use of recycled road material for pavement application globally.
The polymeric modifier segment is projected to be leading the asphalt additive market during the forecast period.
Based on type, the polymeric modifier segment accounted for the largest share, in terms of value, in 2018. The growth of this segment can be attributed to the excellent properties such as stiffness, strength, and improve the flexibility and durability of asphalt pavements. These are easy to use, and the raw materials used to make them are readily available, which makes them the most preferred type of asphalt additives globally.
The Asia Pacific region is the largest growing regional segment.
The Asia Pacific region is projected to lead the asphalt additive market from 2019 to 2029, in terms of value and volume. The increasing demand for asphalt additives products in developing economies, such as India and China, due to increasing infrastructure spending is expected to bolster market growth. China is the leading consumer of asphalt additives products in the Asia Pacific region. The considerable growth and innovation, along with industry consolidations, is expected to fuel the growth of the Asia Pacific asphalt additives market.
The warm mix segment is the fastest-growing technology segment
The demand from the warm mix technology segment is rising due to various properties that have made it more attractive than other asphalt mixes. Less energy is needed to heat the asphalt mix, and less fuel is required to produce warm-mix asphalt. Also, it is environment-friendly as it produces fewer emissions, thus improving the working conditions at asphalt pavement sites. These properties will further increase its market share in the technology sector.
- Increasing Investments In The Infrastructure Sector Of The Asia Pacific Region
- Recyclability Of Asphalt
- Use Of Concrete And Bioasphalt As Substitutes For Asphalt
- Volatility In The Prices And Supply Of Asphalt
- Increasing Use Of Warm Mix Asphalt
- Use Of Asphalt Additives In Roofing Applications
- Advancements In The Aerospace Sector
- Lack Of Awareness About Asphalt Additives Among Road Builders And Contractors
- Cost Structure
- Arkema Sa
- BASF Se
- Dowdupont Inc.
- Ergon Asphalt & Emulsions, Inc
- Evonik Industries
- Grupo Dynasol
- Honeywell International Inc
- Huntsman Corporation
- Ingevity Corporation
- Iterchimica Srl
- Kao Corporation
- Kraton Corporation
- Lcy Chemical Corporation
- Mcasphalt Industries Limited
- Sasol Limited
- Sinopec Corporation
- Tri-Chem Industries
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