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 2026″, The asphalt additive market is projected to grow from USD 3.4 billion in 2021 to USD 4.7 billion by 2026, at a CAGR of 6.8% from 2021 to 2026. Increase in road construction projects along with the growing usage of asphalt additives in roofing application are some of the major key factors driving the growth of the asphalt additive market across the globe.
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• 324 Market data Tables
• 59 Figures
• 277 Pages and in-depth TOC on “Asphalt Additive Market – Global Forecast to 2026”
Some of the prominent key players are:
- Nouryon (Netherlands)
- DowDuPont (US)
- Arkema SA (France)
- Honeywell International Inc. (US)
- Evonik Industries (Germany)
- Huntsman Corporation (US)
- Kraton Corporation (US)
- Ingevity Corporation(US)
- BASF SE (Germany)
Opportunity: Use of asphalt additives in roofing applications
Asphalt is primarily used in roofing applications for waterproofing. It is also used as a saturate in asphalt saturated felts, roll roofing, and shingles. Asphalt shingles are one of the least expensive roofing applications and are witnessing increased demand from the North American and European regions. The sub-prime crisis of 2007-2008 in the US caused a recession in the construction industry. However, the construction industry in the North American region has recovered and is growing at a moderate pace. As the market for building materials is increasing in the North American and European regions, the use of asphalt in these materials is expected to grow. Consequently, the demand for asphalt additives is also expected to increase as these improve the service life and durability of asphalt in roofing applications.
By type, polymeric modifiers is estimated to be the leading segment of asphalt additives market from 2021 to 2026, in terms of value and volume..
Based on type, the asphalt additives 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 asphalt additives market accounts for the largest share during the forecast period. Polymeric modifiers are used throughout the world to improve the flexibility and durability of asphalt pavements. They are easy to use, and the raw materials used to make them are readily available, which makes them the most preferred type of asphalt additives. Styrene-butadiene-styrene (SBS) and Styrene-butadiene Rubber (SBR) are some of the most commonly used polymeric modifiers. These products improve the durability of asphalt and act as compatibilizers or cross-linking agents.
The Asia Pacific region was the largest market for asphalt additives in 2020.
The Asia-Pacific region was the largest market for asphalt additives in 2020, owing to the increasing demand for asphalt additives products in developing economies, such as India and China. China is the leading consumer of asphalt additives products in the Asia-Pacific region. The considerable growth and innovation, along with industry consolidations, is expected to drive the growth of the Asia-Pacific asphalt additives market. According to the Asian Development Bank (ADB), Asia needs USD 8.4 trillion to enhance the transport infrastructure, including road construction. Governments of various countries in the region are investing heavily to improve road construction. Thus, road infrastructure projects by governments in the region are expected to drive the global asphalt additives market.
