Asphalt Additives Market Insights
Asphalt additives market is likely to witness an impressive CAGR of 5.9% during the forecast period. The prime factor that is contributing to the demand for asphalt additives is mainly the increasing usage of asphalt in roofing applications from the construction industry. The recyclability of asphalt along with the development of warm-mix asphalt is also a major factor for the market’s growth.
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Asphalt Additives Market - Snapshot
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Growth
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5.9% for the next five years
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Major Product Type
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Polymerized Asphalt Cement
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Dominant Technology Type
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Hot Mix
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Region with the highest demand
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Asia-Pacific
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Key Players
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Nouryon, Arkema SA, Honeywell International Inc., Evonik Industries, Kraton Corporation, BASF SE, Ingevity Corporation, Arrmaz, DowDuPont Inc., Huntsman Corporation, Sasol Limited, Kao Corporation, Sinopec Corporation, Iterchimica SRL, Grupo Dynasol.
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Market Share Analysis
Asphalt Additives Market Share: By Product Type
Based on the product type, the market is segmented as polymerized asphalt cement, novophalt, multigrade asphalt cement, polyester modifier, and others. The polymerized asphalt cement segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Polymerized asphalt cement provides strength, durability, finishing, and ease of operation. Polymerized asphalt cement also reduces the amount and severity of pavement distresses and increases the service life. These advantages have resulted in the growing demand for polymerized asphalt cement.
Asphalt Additives Market Share: By Technology Type
Based on the technology type, the asphalt additives market is segmented as hot mix, cold mic, and warm mix. The hot mix segment dominates the market, as hot mix asphalt additives are durable, moisture resistant, and thermal cracking resistant, and provides excellent workability and skid resistance.
Asphalt Additives Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is driven mainly due to the increasing investments of foreign countries, along with the strong requirement of asphalt additives in the construction sector, and growing production facilities in the region.
Some of the major asphalt additive manufacturers are-
- Nouryon
- Arkema SA
- Honeywell International Inc.
- Evonik Industries
- Kraton Corporation
- BASF SE
- Ingevity Corporation
- Arrmaz
- DowDuPont Inc.
- Huntsman Corporation
- Sasol Limited
- Kao Corporation
- Sinopec Corporation
- Iterchimica SRL
- Grupo Dynasol
Market Scope & Segmentation
Asphalt is made up of various mixtures of hydrocarbons called as bitumen. Asphalt additives are the materials that are added to asphalt for changing its properties for the asphalt binder. The adding of additives into asphalt raises the functional temperature range of asphalt. An additive also helps in the preventing of cracking by intensifying the bond between the aggregate and the binder, and enhances the film thickness. These additives provide certain benefits such as reduction in stripping, life cycle costs, cracking, raveling, permanent deformation and pavement thickness.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Asphalt Additives Market Research Report - Features
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Market Segmentation
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4
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Regions Covered
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4
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Countries/Sub-Regions Covered
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15
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No. of Figures & Tables
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>150
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Company Profiles
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10
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The asphalt additives market is segmented into the following categories.
Asphalt Additives Market Size, Share, & Forecast, by Product Type:
- Polymerized Asphalt Cement (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Novophalt (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Multigrade Asphalt Cement (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Polyester Modifier (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Asphalt Additives Market Size, Share, & Forecast, by Application Type:
- Road Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Road Paving (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Airport Runway (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Parking Lots (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Roofing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Asphalt Additives Market Size, Share, & Forecast, by Technology Type:
- Hot Mix (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Cold Mix (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Warm Mix (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Asphalt Additives Market Size, Share, & Forecast, by Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the product types by application type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
