LONDON, Nov. 30, 2016 /PRNewswire/ -- "The asphalt additives market is projected to grow at a CAGR of 6.4%, in terms of value, from 2016 to 2026"
The asphalt additives market is projected to reach USD 5.45 billion by 2026, at a CAGR of 6.4% between 2016 and 2026. This growth can be attributed to developments in the Asia-Pacific infrastructure market, recyclability of asphalt, development of warm-mix asphalt, and increasing use of asphalt in roofing applications. The volatile prices of asphalt and lack of awareness among road pavement contractors about the benefits of asphalt additives are restraints for the growth of the asphalt additives market.
"Based on type, the emulsifiers segment is expected to grow at the highest CAGR"
Emulsifiers are used in road reconstruction activities, where they are used as additives in cold mix asphalt. Heavy loads on road pavements result in potholes. Emulsifiers are used to patch up these potholes. The demand for emulsifiers is rising due to the growth in road reconstruction activities, especially in North America and Europe.
"Based on application, the roofing segment is expected to grow at the highest CAGR"
Asphalt shingles are one of the cheapest roofing materials. Roofs are subject to environmental damage due to excess heat, cold or rain. The addition of additives to asphalt prevents this damage. They also act as compatibilizers or cross-linking agents. The roofing market is witnessing increased demand from North America and Europe. The roofing application segment is rising due to the resurgence of the U.S. construction market.
"Based on technology, the warm mix segment is estimated to grow at the highest CAGR"
The demand for warm mix technology is rising due to various properties that have made it more attractive than other asphalt mixes. Less energy is required to heat asphalt mix and less fuel is needed to produce warm mix asphalt. In addition, it is environment-friendly as it produces less emission, thus improving the working condition at asphalt pavement sites. These properties will further increase its market share in the technology sector.
"Middle East & Africa is the fastest-growing region in the asphalt additives market"
The Middle East & Africa asphalt additives market is projected to grow at the highest CAGR from 2016 to 2026. This growth can be attributed to the development of business and manufacturing infrastructure leading to the growth of the road construction and paving sector.
Profile break-up of primary participants for the report:
- By Company Type - Tier 1 – 42 %, Tier 2 – 25%, and Tier 3 – 33%
- By Designation – C level – 33%, Director level – 25%, and Others – 42%
- By Region – North America– 50%, Europe – 17%, Asia-Pacific - 25%, and RoW - 8%
As part of the qualitative analysis, this research study provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. The report defines, describes, and forecasts the asphalt additives market based on type, application, technology, and region. It provides strategically analyzed micromarkets with respect to individual growth trends, future prospects, and contribution made to the overall market.
It also discusses competitive strategies adopted by various market players, such as AkzoNobel NV (Netherlands), E. I. du Pont de Nemours and Company (U.S.), Arkema SA (France), Honeywell International, Inc. (U.S.), Evonik Industries (Germany), Huntsman Corporation (U.S.), Kraton Corporation (U.S.), Sasol Limited (South Africa), The Dow Chemical Company (U.S.), Ingevity Corporation (U.S.), and Arrmaz (U.S.).
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the asphalt additives market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on asphalt additives offered by top players in the asphalt additives market
- Product Development/Innovation: Detailed insight on upcoming technologies, research & development activities, and new product launches in the asphalt additives market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for asphalt additives across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the asphalt additives market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the asphalt additives market
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