Asphalt Additive Market Recent Trends, In-Depth Analysis, Industry Share, Size And Forecast
The report "Asphalt Additive Market by Type (Polymeric Modifiers, Anti-Strip & Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt), Application, Technology And Region - Global Forecast to 2028", The asphalt additive market is projected to grow from USD 4.0 billion in 2023 to USD 5.8 billion by 2028, at a CAGR of 7.7% from 2023 to 2028. increase in government expenditure on infrastructure across the countries can be attributed to the increasing construction of roads and other public infrastructure development projects for improved transportation and enhanced connectivity between important economic centers in these countries. These factors are driving the consumption of asphalt additives across the world.
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544 – Tables
55 – Figures
348 – Pages
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By type, the polymeric modifiers segment is estimated to have the largest share of asphalt additive market from 2023 to 2028, in terms of volume.
Based on type, the asphalt additive market has been segmented into Polymeric Modifiers, Anti-strip & adhesion promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt, and others. The polymeric modifier segment of the asphalt additive market is projected to lead during 2023 to 2028. High-performance polymeric modifiers with improved characteristics have been created as a result of improvements in polymer technology. The asphalt can handle significant traffic loads and severe weather conditions due to enhanced adhesion, resistance to deformation, and elasticity of these modifiers. Thus, the application of polymeric modifiers in the asphalt industry is boosted by the ongoing improvement in polymer technology.
By application, the roofing segment is expected to grow at the fastest rate during the forecast period, in terms of value.
Based on application, the asphalt additive market has been segmented into road construction & paving, roofing, airport construction, and others. The roofing segment is expected to grow at the highest CAGR during the forecast period, in terms of value. The demand for roofing materials is fueled by increased infrastructure development, including industrial, residential, and commercial construction projects. With the expansion of the construction sector, the need for asphalt-based roofing materials is increasing. Asphalt additives can improve the performance of roofing materials, weather resistance, and waterproofing, making them acceptable for harsh weather conditions. These factors further fuel the growth of this segment.
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By region, the Asia Pacific segment is estimated to have the largest share of the asphalt additive market from 2023 to 2028, in terms of volume.
Based on region, the asphalt additive market has been segmented into Asia Pacific, North America, Europe, Middle East & Africa, and South America. The Asia Pacific region of the asphalt additive market is projected to account for the largest share during the forecast period. Governments in nations like China, India, and Southeast Asian countries are making significant investments in developing and enlarging their transportation networks, including their airports, roads, and highways. The need for additives for asphalt has increased as a result of the growth in infrastructure development projects. The increasing economy and rising disposable incomes of the region have raised demand for better transport facilities. Asphalt additives play a major role in enhancing the performance and durability of roads, thus driving their demand in this region.
Asphalt Additive Market Key Players
Nouryon (Netherlands), Dow (US), Arkema SA (France), Honeywell International Inc. (US), Evonik Industries (Germany), Huntsman Corporation (US), Kraton Corporation (US), Ingevity Corporation (US), and BASF SE (Germany) are some of the leading players operating in the asphalt additive market.
Kraton Corporation (US)
Kraton Corporation is a leading specialty chemical company that manufactures styrene block copolymers and other engineered polymers. In September 2016, Kraton Performance Polymer Inc. changed its name to Kraton Corporation. The company has operations in performance products, performance chemicals, specialty polymers, adhesives, cariflex, and tires. The company operates its business through two segments namely, Polymer and Chemical. Kraton Corporation provides asphalt additives under its polymer segment. It has a strong geographic reach across North America, South America, Europe, and Asia with operations in over 70 countries worldwide.
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 52)
1.1 STUDY OBJECTIVES
1.2 COMPETITIVE INTELLIGENCE
1.3 MARKET DEFINITION
1.4 MARKET SCOPE
FIGURE 1 ASPHALT ADDITIVES MARKET SEGMENTATION
1.4.1 YEARS CONSIDERED
1.4.2 REGIONAL SCOPE
1.4.3 CURRENCY CONSIDERED
1.4.4 UNITS CONSIDERED
1.5 STAKEHOLDERS
1.6 LIMITATIONS
1.7 INCLUSIONS & EXCLUSIONS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 57)
2.1 IMPACT OF SLOWDOWN/RECESSION
2.2 RESEARCH DATA
FIGURE 2 ASPHALT ADDITIVES MARKET: RESEARCH DESIGN
2.2.1 SECONDARY DATA
2.2.1.1 List of major secondary sources
2.2.1.2 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Key data from primary sources
TABLE 1 LIST OF COMPANIES FROM DEMAND AND SUPPLY SIDES
2.2.2.2 Breakdown of primaries
2.3 MATRIX CONSIDERED FOR DEMAND SIDE
FIGURE 3 MAIN MATRIX CONSIDERED WHILE ANALYZING AND ASSESSING DEMAND FOR ASPHALT ADDITIVES
2.4 MARKET SIZE ESTIMATION
2.4.1 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 6 METHODOLOGY FOR ASSESSING SUPPLY OF ASPHALT ADDITIVES
2.4.2.1 Calculations for supply-side analysis
2.5 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.6 ASSUMPTIONS
2.6.1 KEY ASSUMPTIONS WHILE CALCULATING MARKET FROM DEMAND-SIDE
2.7 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
2.7.1 SUPPLY SIDE
2.7.2 DEMAND SIDE
2.8 RISK ASSESSMENT
3 EXECUTIVE SUMMARY (Page No. - 67)
FIGURE 8 POLYMERIC MODIFIERS TO ACCOUNT FOR LARGEST SHARE OF OVERALL ASPHALT ADDITIVES MARKET
FIGURE 9 ROOFING TO BE FASTEST-GROWING APPLICATION OF ASPHALT ADDITIVES MARKET DURING FORECAST PERIOD
FIGURE 10 HOT MIX TO BE LARGEST TECHNOLOGY SEGMENT OF OVERALL ASPHALT ADDITIVES MARKET
FIGURE 11 ASPHALT ADDITIVES MARKET IN MIDDLE EAST & AFRICA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
4 PREMIUM INSIGHTS (Page No. - 71)
4.1 ATTRACTIVE MARKET OPPORTUNITIES IN ASPHALT ADDITIVES MARKET
FIGURE 12 EMERGING ECONOMIES OFFER GROWTH OPPORTUNITIES FOR ASPHALT ADDITIVES MARKET
4.2 ASPHALT ADDITIVES MARKET, BY REGION
FIGURE 13 MARKET IN MIDDLE EAST & AFRICA TO GROW AT HIGHEST CAGR IN TERMS OF VOLUME DURING FORECAST PERIOD
4.3 ASPHALT ADDITIVES MARKET, BY APPLICATION
FIGURE 14 ROOFING SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
4.4 ASPHALT ADDITIVES MARKET, BY TYPE
FIGURE 15 POLYMERIC MODIFIERS SEGMENT TO ACCOUNT FOR LARGEST MARKET FOR ASPHALT ADDITIVES FROM 2023 TO 2028
4.5 ASPHALT ADDITIVES MARKET, BY TECHNOLOGY
FIGURE 16 HOT MIX SEGMENT TO ACCOUNT FOR LARGEST MARKET FOR ASPHALT ADDITIVES FROM 2023 TO 2028
5 MARKET OVERVIEW (Page No. - 74)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 ASPHALT ADDITIVES MARKET DYNAMICS: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing infrastructure investments in Asia Pacific
5.2.1.2 Recyclability of asphalt
FIGURE 18 IMPACT OF DRIVERS ON ASPHALT ADDITIVES MARKET
5.2.2 RESTRAINTS
5.2.2.1 Use of concrete and bio-asphalt as substitutes
5.2.2.2 Fluctuations in price and supply of asphalt
FIGURE 19 ASPHALT PRICE TRENDS FROM 2017 TO 2020
FIGURE 20 FIGURE 18 IMPACT OF RESTRAINTS ON ASPHALT ADDITIVES MARKET
5.2.3 OPPORTUNITIES
Continued...