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.
Browse 324 market data Tables and 59 Figures spread through 277 Pages and in-depth TOC on "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 growth in the infrastructure sector of emerging economies is driving the demand for new road pavements, and consequently, the demand for asphalt additives. There is a significant infrastructure gap in countries such as India and Brazil that has resulted in increased investments for the construction of new roads as well as the repair of existing ones. The resurgence in the North American and European construction sectors has resulted in the increasing demand for asphalt in roofing applications.
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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.
By application, roofing is estimated to be the fastest-growing segment of asphalt additives market..
Based on application, the roofing segment is expected to lead the asphalt additives market in coming years. Roofs are subject to environmental damage due to excess heat, cold, or rain. The addition of additives to asphalt prevents this damage. Chemical, vegetable oil, or petroleum-based additives are added to asphalt to improve the functionality and viscosity of asphalt, while polymer-based additives are used to improve its Functionality. This creates the demand for asphalt additives in the future.
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.
Nouryon (Netherlands), DowDuPont (US), Arkema SA (France), Honeywell International Inc. (US), Evonik Industries (Germany), Huntsman Corporation (US), Kraton Corporation (US), Ingevity Corporation(US), and BASF SE (Germany) are some of the leading players operating in the asphalt additive market.
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