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By 2030, the worldwide asphalt additive market is anticipated to be worth $8.09 billion, with a CAGR of 8.6% between 2023 and 2030.
Additives to asphalt are specialised compounds that improve the functionality and longevity of asphalt roads. To increase the quality of the road surface, these chemicals are used with the asphalt binder. Polymer modifiers, rejuvenators, anti-stripping chemicals, and fibres are all common asphalt additives. Polymer modifiers increase asphalt's adaptability and durability, while rejuvenators revitalise worn-out pavement to extend its useful life. By improving the adhesion between asphalt and aggregates, anti-stripping additives protect roads from the effects of moisture. Fibres are a great way to increase durability and lessen cracking. When asphalt additives are included in pavement mixtures, engineers can produce roads that endure longer and are more resistive to traffic loads, weather conditions, and other environmental pressures, making the roads safer and saving money in the long run.
This study breaks down the asphalt additive market by region and segment, with revenue growth projections and in-depth analyses of recent trends for each. The report examines the factors driving, restraining, and otherwise impacting the asphalt additive market. The competitive landscape has been drawn taking into account the most up-to-date market changes and strategic moves, such as expansion, product launch and development, collaboration, merger, and acquisition. The research provides a detailed analysis of the asphalt additive market's many subsegments, as well as a comprehensive identification and profile of the industry's key competitors.
Influential Elements
Since asphalt additives lengthen the life of pavement and cut down on maintenance expenses, they are one of the main factors propelling the asphalt additive market. Demand for asphalt additives is high because governments are spending more money on road building and maintenance projects. Market expansion can be attributed to increasing public understanding of how beneficial it is to the environment to recycle and reuse old asphalt materials with the help of additives. Manufacturers and contractors in search of cutting-edge options are also drawn to developments in additive technologies like polymer modifiers and anti-stripping agents. The need for premium asphalt additives is further exacerbated by laws aimed at enhancing road quality and safety. As the need for eco-friendly building methods grows, so does the popularity of asphalt additives that increase pavement recycling and cut carbon footprints.
Factors That Hold It Back
The high upfront cost of adding additives in asphalt mixtures can prevent budget-constrained projects and limit market penetration, which in turn restrains the growth of the asphalt additive market. Low-cost conventional asphalt substitutes pose a potential barrier to the widespread use of asphalt additives. Users may be wary about the effectiveness and performance of asphalt additives due to a lack of standardised testing procedures and regulations. Concerns regarding product quality and safety may also be raised by the availability of low-grade or fake additives on the market. Overall, road contractors' and construction firms' lack awareness and technical skills can delay acceptance and market expansion.
The polymeric modifiers market was worth approximately $54.2 billion in 2022.
Polymeric modifiers, anti-strip & adhesion boosters, emulsifiers, chemical modifiers, rejuvenators, fibres, flux oil, coloured asphalt, and others are all subsets of the asphalt additive business. The market for asphalt additives is very competitive, with polymeric modifiers having captured the lion's share. Among the many reasons for their prominence is the fact that polymeric modifiers provide numerous advantages that boost the efficiency and longevity of asphalt roads. As a result of these additives, asphalt is more resilient to cracking and deformation when subjected to high vehicle loads. This leads to roads that endure longer with less need for maintenance and repairs, saving money in the long run. Increased binding strength between the asphalt binder and aggregates is a direct result of the polymeric modifiers' improved adhesion characteristics. This ensures the durability and structural integrity of the pavement by protecting it from moisture-induced deterioration like stripping and ravelling. Water, ultraviolet light, and temperature fluctuations are resisted better thanks to the enhanced adhesion. In addition, the asphalt pavement is able to survive repeated loading and high traffic volumes since polymeric modifiers give good resistance to rutting and fatigue. Because of this, they are frequently used at airports, factories, and other high-traffic sectors. In addition, novel polymeric modifier technologies have led to the creation of tailored formulations to meet the needs of a variety of applications. Depending on the weather and traffic circumstances, these additives can be adjusted to achieve the ideal balance of rigidity, viscosity, and temperature resistance. Another factor in polymeric modifiers' expansion is the current industry trend towards greener, more eco-friendly building methods. As a result, less energy is expended in the production of new asphalt, and less pollution is released into the atmosphere.
More than 44.6% of the market in 2022 will come from sales of hot mixes.
The global asphalt additive market may be broken down into three distinct submarkets: hot mix, cold mix, and warm mix. The asphalt additive market has been dominated by the hot mix category, which accounts for the vast majority of sales. The hot mix market is so large because of a number of variables. When it comes to building roads, nothing beats the durability and adaptability of hot mix asphalt (HMA). It is the material of choice for many road construction projects due to its exceptional longevity, resilience to strong traffic loads, and structural integrity. Hot mix sales are boosted by the worldwide emphasis on infrastructure improvement and road building. The need for hot-mix asphalt is being driven by government and private sector investments in the building and maintenance of roads, highways and airports. Highways, airports, parking lots, and residential roads are just some of the many markets served by the hot mix industry. Its versatility in accommodating a variety of projects and traffic patterns also contributes to its widespread adoption. Hot mix asphalt can be modified and created to suit the needs of a given project, taking into account variables like weather, traffic, and load. This adaptability permits the best possible pavement performance and guarantees durability under a wide range of situations. Additionally, developments in hot mix technology, such as warm mix asphalt (WMA), have broadened the hot mix market's application regions and benefits. WMA is an appealing solution for environmentally responsible road building because of its low production energy requirements, minimal emissions, and high workability.
Report Coverage
Global Asphalt Additive research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Asphalt Additive report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Asphalt Additive competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Asphalt Additive market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Asphalt Additive market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Asphalt Additive market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ARKEMA Group, Akzo Nobel N.V., Evonik Industries AG, Honeywell International Inc., Huntsman International LLC, Ingevity, KAO Corporation, Nouryon, SASOL, Tri-Chem Specialty Chemicals, LLC and Others.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Asphalt Additive market based on the below-mentioned segments:
Global Asphalt Additive Market, By Type
Polymeric Modifiers
Anti-strip & Adhesion Promoters
Emulsifiers
Chemical Modifiers
Rejuvenators
Fibers
Flux Oil
Colored Asphalt
Others
Global Asphalt Additive market, By Application
Road Construction & Paving
Roofing
Airport Construction
Others
Global Asphalt Additive Market, By Technology
Hot Mix
Cold Mix
Warm Mix
Global Asphalt Additive market, Regional Analysis
Additives to asphalt are specialised compounds that improve the functionality and longevity of asphalt roads. To increase the quality of the road surface, these chemicals are used with the asphalt binder. Polymer modifiers, rejuvenators, anti-stripping chemicals, and fibres are all common asphalt additives. Polymer modifiers increase asphalt's adaptability and durability, while rejuvenators revitalise worn-out pavement to extend its useful life. By improving the adhesion between asphalt and aggregates, anti-stripping additives protect roads from the effects of moisture. Fibres are a great way to increase durability and lessen cracking. When asphalt additives are included in pavement mixtures, engineers can produce roads that endure longer and are more resistive to traffic loads, weather conditions, and other environmental pressures, making the roads safer and saving money in the long run.
This study breaks down the asphalt additive market by region and segment, with revenue growth projections and in-depth analyses of recent trends for each. The report examines the factors driving, restraining, and otherwise impacting the asphalt additive market. The competitive landscape has been drawn taking into account the most up-to-date market changes and strategic moves, such as expansion, product launch and development, collaboration, merger, and acquisition. The research provides a detailed analysis of the asphalt additive market's many subsegments, as well as a comprehensive identification and profile of the industry's key competitors.
Influential Elements
Since asphalt additives lengthen the life of pavement and cut down on maintenance expenses, they are one of the main factors propelling the asphalt additive market. Demand for asphalt additives is high because governments are spending more money on road building and maintenance projects. Market expansion can be attributed to increasing public understanding of how beneficial it is to the environment to recycle and reuse old asphalt materials with the help of additives. Manufacturers and contractors in search of cutting-edge options are also drawn to developments in additive technologies like polymer modifiers and anti-stripping agents. The need for premium asphalt additives is further exacerbated by laws aimed at enhancing road quality and safety. As the need for eco-friendly building methods grows, so does the popularity of asphalt additives that increase pavement recycling and cut carbon footprints.
Factors That Hold It Back
The high upfront cost of adding additives in asphalt mixtures can prevent budget-constrained projects and limit market penetration, which in turn restrains the growth of the asphalt additive market. Low-cost conventional asphalt substitutes pose a potential barrier to the widespread use of asphalt additives. Users may be wary about the effectiveness and performance of asphalt additives due to a lack of standardised testing procedures and regulations. Concerns regarding product quality and safety may also be raised by the availability of low-grade or fake additives on the market. Overall, road contractors' and construction firms' lack awareness and technical skills can delay acceptance and market expansion.
The polymeric modifiers market was worth approximately $54.2 billion in 2022.
Polymeric modifiers, anti-strip & adhesion boosters, emulsifiers, chemical modifiers, rejuvenators, fibres, flux oil, coloured asphalt, and others are all subsets of the asphalt additive business. The market for asphalt additives is very competitive, with polymeric modifiers having captured the lion's share. Among the many reasons for their prominence is the fact that polymeric modifiers provide numerous advantages that boost the efficiency and longevity of asphalt roads. As a result of these additives, asphalt is more resilient to cracking and deformation when subjected to high vehicle loads. This leads to roads that endure longer with less need for maintenance and repairs, saving money in the long run. Increased binding strength between the asphalt binder and aggregates is a direct result of the polymeric modifiers' improved adhesion characteristics. This ensures the durability and structural integrity of the pavement by protecting it from moisture-induced deterioration like stripping and ravelling. Water, ultraviolet light, and temperature fluctuations are resisted better thanks to the enhanced adhesion. In addition, the asphalt pavement is able to survive repeated loading and high traffic volumes since polymeric modifiers give good resistance to rutting and fatigue. Because of this, they are frequently used at airports, factories, and other high-traffic sectors. In addition, novel polymeric modifier technologies have led to the creation of tailored formulations to meet the needs of a variety of applications. Depending on the weather and traffic circumstances, these additives can be adjusted to achieve the ideal balance of rigidity, viscosity, and temperature resistance. Another factor in polymeric modifiers' expansion is the current industry trend towards greener, more eco-friendly building methods. As a result, less energy is expended in the production of new asphalt, and less pollution is released into the atmosphere.
More than 44.6% of the market in 2022 will come from sales of hot mixes.
The global asphalt additive market may be broken down into three distinct submarkets: hot mix, cold mix, and warm mix. The asphalt additive market has been dominated by the hot mix category, which accounts for the vast majority of sales. The hot mix market is so large because of a number of variables. When it comes to building roads, nothing beats the durability and adaptability of hot mix asphalt (HMA). It is the material of choice for many road construction projects due to its exceptional longevity, resilience to strong traffic loads, and structural integrity. Hot mix sales are boosted by the worldwide emphasis on infrastructure improvement and road building. The need for hot-mix asphalt is being driven by government and private sector investments in the building and maintenance of roads, highways and airports. Highways, airports, parking lots, and residential roads are just some of the many markets served by the hot mix industry. Its versatility in accommodating a variety of projects and traffic patterns also contributes to its widespread adoption. Hot mix asphalt can be modified and created to suit the needs of a given project, taking into account variables like weather, traffic, and load. This adaptability permits the best possible pavement performance and guarantees durability under a wide range of situations. Additionally, developments in hot mix technology, such as warm mix asphalt (WMA), have broadened the hot mix market's application regions and benefits. WMA is an appealing solution for environmentally responsible road building because of its low production energy requirements, minimal emissions, and high workability.
Report Coverage
Global Asphalt Additive research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Asphalt Additive report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Asphalt Additive competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Asphalt Additive market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ARKEMA Group, Akzo Nobel N.V., Evonik Industries AG, Honeywell International Inc., Huntsman International LLC, Ingevity, KAO Corporation, Nouryon, SASOL, Tri-Chem Specialty Chemicals, LLC and Others. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Asphalt Additive Market from 2021 to 2030.
- Market Forecast for Asphalt Additive Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Asphalt Additive competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Asphalt Additive
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Asphalt Additive market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Asphalt Additive market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ARKEMA Group, Akzo Nobel N.V., Evonik Industries AG, Honeywell International Inc., Huntsman International LLC, Ingevity, KAO Corporation, Nouryon, SASOL, Tri-Chem Specialty Chemicals, LLC and Others.
Primary Target Market
- Market Players of Asphalt Additive
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Asphalt Additive market based on the below-mentioned segments:
Global Asphalt Additive Market, By Type
Polymeric Modifiers
Anti-strip & Adhesion Promoters
Emulsifiers
Chemical Modifiers
Rejuvenators
Fibers
Flux Oil
Colored Asphalt
Others
Global Asphalt Additive market, By Application
Road Construction & Paving
Roofing
Airport Construction
Others
Global Asphalt Additive Market, By Technology
Hot Mix
Cold Mix
Warm Mix
Global Asphalt Additive market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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