Global Asphalt Additive Market to Reach $5.8 Billion by 2028: Increasing Infrastructure Investments in Asia-Pacific Fuels Growth

DUBLIN, July 10, 2023 /PRNewswire/ -- The "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" report has been added to  ResearchAndMarkets.com's offering.

The global asphalt additive market is anticipated 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. 

The Anti-strip & Adhesion Promoters segment is expected to be the second-largest segment, in terms of value in 2023

Anti-strip & adhesion promoters are used to avoid stripping asphalt cement from the aggregate. This is done by creating chemical bonds between the asphalt film and the aggregate surface, which helps avoid reveling and rutting pavements.

These promoters also prevent the formation of potholes, hence prolonging the life of the pavement. Anti-stripping agents prevent the seepage of water through the asphalt surface and avoid moisture damage.

Middle East & Africa region is expected to witness highest CAGR between the forecast period.

The market in the Middle East & Africa is also expected to be the fastest-growing market. Countries such as Saudi Arabia and the UAE are key markets in the region.

Countries in the Middle East & Africa are looked upon as growing markets, and governments in this region are undertaking initiatives for the development of the construction sector. The development of business and manufacturing infrastructure is leading to the growth of the road construction & paving sector, which is driving the asphalt additive market in this region.

The airport construction segment is projected to be the second largest in the asphalt additive market during the forecast period.

A majority of airports have asphalt pavements for their runways, taxiways, and aprons. Runways need good skid resistance and hard paving so that flying does not face any hindrance from adverse weather conditions.

Asphalt additives enhance the anti-skid properties of asphalt and also improves its quality so that pavements withstand the heavy loads of an aircraft. The growth in the aerospace sector has led to an increase in airport construction activities. This, in turn, has increased the demand for asphalt additives that are used in the construction of airport pavements.

Premium Insights

• Emerging Economies Offer Growth Opportunities for Asphalt Additives Market
• Market in Middle East & Africa to Grow at Highest CAGR in Terms of Volume During Forecast Period
• Roofing Segment to Grow at Highest CAGR During Forecast Period
• Polymeric Modifiers Segment to Account for Largest Market for Asphalt Additives from 2023 to 2028
• Hot Mix Segment to Account for Largest Market for Asphalt Additives from 2023 to 2028

Market Dynamics

Drivers

• Increasing Infrastructure Investments in Asia-Pacific
• Recyclability of Asphalt

Restraints

• Use of Concrete and Bio-Asphalt as Substitutes
• Fluctuations in Price and Supply of Asphalt

Opportunities

• Increasing Use of Warm Mix Asphalt
• Use of Asphalt Additives in Roofing Applications
• Advancements in Aerospace Sector

Challenges

• Lack of Awareness About Asphalt Additives Among Road Builders and Contractors

Case Study Analysis

• Kraton's Asphalt Additives Solution for Dow
• Problem Statement
• Possible Solution Using Kraton's Sylvaroad Rp1000 Asphalt Additive
• Possible Solution Using Dow's Elvaloy Ret Asphalt Additive

Companies Mentioned

• Additional Players
• Arkema Sa
• Basf Se
• Berkshire Engineering
• Dow Chemical
• Engineered Additives LLC
• Ergon Asphalt & Emulsions, Inc
• Evonik Industries
• Grupo Dynasol
• Honeywell International Inc
• Huntsman Corporation
• Ingevity Corporation
• Iterchimica Srl
• Kao Corporation
• Kraton Corporation
• Lcy Chemical Corporation
• Mcasphalt Industries Limited
• Nouryon
• Sasol Limited
• Sinopec Corporation
• Tri-Chem Industries

For more information about this report visit https://www.researchandmarkets.com/r/qwqswo

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