The Asphalt Additives Global Market Report 2023 by The Business Research Company, provides asphalt additives market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Asphalt Additives Global Market Report 2023, the market size is expected to grow from $3.62 billion in 2022 to $3.91 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The asphalt additives market size is expected to grow to $5.57 billion in 2027 at a CAGR of 9.2%.
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.
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The asphalt additives market 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
Top Major Players|
Arkema SA
Arrmaz
BASF SE
Evonik Industries
Huntsman Corporation
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 report table of contents includes:
1. Executive Summary
2. Asphalt Pavers Market Characteristics
3. Asphalt Pavers Market Trends And Strategies
4. Asphalt Pavers Market – Macro Economic Scenario
5. Asphalt Pavers Market Size And Growth
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26. Africa Asphalt Pavers Market
27. Asphalt Pavers Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Asphalt Pavers Market
29. Asphalt Pavers Market Future Outlook and Potential Analysis
30. Appendix
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