Asphalt Additives Market Outlook 2024-2033: Trends and Projections

The asphalt additives global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Asphalt Additives Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The asphalt additives market size has grown rapidly in recent years. It will grow from $3.98 billion in 2023 to $4.38 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to government investments in transportation infrastructure, expansion of the transportation network, rise in infrastructure rehabilitation projects, economic growth, rise in construction sector.

The asphalt additives market size is expected to see strong growth in the next few years. It will grow to $6.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to increasing road construction and maintenance activities, growing industrialization, rapid urbanization, extreme weather conditions, aging infrastructure. Major trends in the forecast period include nanotechnology in additives, performance-grade binders, polymer-modified asphalt, warm mix asphalt (wma), recycled materials.

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Scope Of Asphalt Additives Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Asphalt Additives Market Overview

Market Drivers –
An increase in road construction projects is expected to propel the growth of the asphalt additives market. Roads play a critical role in economic development and progress, as well as providing significant social advantages and asphalt additives are used in constructing roads as it improves the quality of the road and makes it more durable. For instance, according to the India Brand Equity Foundation (IBEF), a Trust established by the Department of Commerce, Ministry of Commerce and Industry, and Government of India, despite the pandemic and shutdown, India built 13,298 kilometres of roadways in FY21. Therefore, an increase in road construction projects is expected to drive the asphalt additives market.

Market Trends –
Bio-based asphalt additives are shaping the asphalt additives market. The use of rubber in the asphalt business has shown several benefits in the pavement sector such as improved workability. For instance, in November 2021, Puma Energy International S.A., a Switzerland-based company involved in bitumen sourcing and supply partnered with Cargill, Incorporated, a US-based company that offers goods and services in the risk management, financial, industrial, agricultural, and food industries, introduced to customers in Australia the Cargill Anova product line of bio-based asphalt additives, including the Anova warm mix additive and the Anova asphalt rejuvenator. One advantage of the Anova warm mix additive is that it is a non-hazardous, vegetable-derived product.

The asphalt additives market covered in this report is segmented –

1) By Type: Polymeric Modifiers, Anti-strip And Adhesion Promoters, Emulsifiers, Chemical Modifiers, Rejuvenators, Fibers, Flux Oil, Colored Asphalt
2) By Technology: Hot Mix, Cold Mix, Warm Mix
3) By Application: Road Construction, Road Paving, Airport Runway, Parking Lots, Roofing

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Regional Insights –
Asia-Pacific was the largest region in the asphalt additives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the asphalt additives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –
Major companies operating in the asphalt additives market include Arkema S.A., ArrMaz Products Inc., BASF SE, Evonik Industries AG, Huntsman Corporation, Nouryon Holding B.V., Sasol Limited, China Petroleum & Chemical Corporation., Solvay SA, Jiangsu Jinyang Group Co. Ltd., Zibo Bridge Lung Chemical Co. Ltd., Berkshire Engineering Supplies Ltd., Engineered Additives LLC., Sonneborn LLC., LUCOBIT AG, Tri-Chem Specialty Chemicals LLC., Colas SA, Cargill Inc., Owens Corning Corporation, CRH PLC., Honeywell International Inc., Kraton Corporation, Akzo Nobel NV, Grupo Dynasol S.A. de C.V., McAsphalt Industries Limited, ATDM Co Ltd., Kao Corporation., Petrochem Specialties Inc., Dupont De Nemours Inc.

Table of Contents
1. Executive Summary
2. Asphalt Additives Market Report Structure
3. Asphalt Additives Market Trends And Strategies
4. Asphalt Additives Market – Macro Economic Scenario
5. Asphalt Additives Market Size And Growth
…..
27. Asphalt Additives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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