Asphalt Additive Market

Asphalt Additive Market Overview

The report is titled as ‘Asphalt Additive Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Asphalt Additive market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market.

The asphalt additive market is estimated to reach at a value of US$ 3.5 Bn by the end of 2022 and expected to reach at a value of US$ 5.9 Bn by 2030 with a significant CAGR of 6.6%.

Asphalt Additive Introduction

Asphalt can be referred to as a brown or black petroleum-like substance, that is by and large gathered either as a residue from the decoction of petroleum or organic sediments, that possess a density varied from viscous liquid to glassy solid. The mechanical properties of asphalt majorly allow asphalt to be used as adhesive or binder. The prime application of asphalt is in road surfacing, which has the potential to be performed in several different means. The asphalt additives or otherwise known as adhesion promoters can be perceived as chemicals mixed to asphalt in order to enhance aggregate coating and improve the frequency and strength of chemical soldering between asphalt and aggregate.

The asphalt additives provide enhanced bonding strength that further offers pathways with defense opposed to moisture-impairment destruction. If in case, asphalt separates from aggregate while in the presence of water, it results in moisture impairment, and leads to potholes, rutting, and ultimately pathways to deteriorate at a premature period. The increased number of end-use application of asphalt additives all across the world is primarily estimated to accelerate the market growth in the following years.

Asphalt Additive Market Segmentation

The global asphalt additive market is segmented on the basis of type, application, technology, and region.

By Type

Polymeric Modifiers

Anti-strip & Adhesion Promoters

Emulsifiers

Chemical Modifiers

Rejuvenators

Fibers

Flux Oil

Colored Asphalt

Others

By Application

Road Construction & Paving

Roofing

Airport Construction

Others

By Technology

Hot Mix

Cold Mix

Warm Mix

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Asphalt Additive Market Key Players

Some of the key participating players in global Asphalt Additive market are:

Nouryon

Arkema SA

Honeywell International Inc.

Evonik Industries

Kraton Corporation

BASF SE

Ingevity Corporation

Arrmaz

DowDuPont Inc.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product developments and launches

Current product compliance

Reimbursement

Concerns for use of Asphalt Additive

Advantages of Asphalt Additive

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.

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