Global Asphalt Additives Market to Be Driven by Booming Building and Construction Industry During Forecast Period 2022-2027 – This Is Ardee

Expert Market Research’s new report titled ‘Global Asphalt Additives Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global Asphalt Additives market, assessing the market based on its segments such as types, applications, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

  • Forecast CAGR (2022-2027): 7%

The global asphalt additives market is driven by the growing application of the product in the building and construction industry due to rapid infrastructure development, increasing government investment in road maintenance and rapid urbanization in emerging economies. In addition to this, increasing investments in the development of domestic and international airports owing to the growing number of travelers are likely to propel the demand for asphalt additives during the forecast period. Geographically, the Asia-Pacific region accounts for a major share of the market owing to the growing demand for the product from the residential construction industry.

Industry definition and major segments

Asphalt additives refer to substances or chemicals that are added to asphalt, in order to improve the overall performance of the material. Reduced stripping, fraying, cracking, permanent set and increased pavement thickness are some of the major benefits of asphalt additives. Major end user industries of asphalt additives include building and construction.

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On the basis of Type, the market has been segmented into:

  • Polymerized bituminous cement
  • Novophalt
  • Multigrade bituminous cement
  • Polyester modifier
  • Others

The main applications of the product include:

  • road construction
  • road paving
  • Airport Runway
  • Parking spaces
  • roof
  • Others

Regional markets for asphalt additives include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market trends

Full-scale construction of airports, highways, sidewalks, roads, apartments and public administrative buildings, due to increased investment in urban development projects in emerging economies, is expected to be the main market trend. Also, emergence of multi-housing projects in various continents is expected to propel the demand for asphalt additives during the forecast period. The rapid development of hotels, restaurants, pubs and manufacturing facilities is expected to help the market over the forecast period.

Main market players

Major market players include Cargill, Inc., Evonik Industries AG, Honeywell International Inc., The Dow Chemical Company, and Arkema SA, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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