The global asphalt additives market is estimated to reach US$ 7.5 Bn by the year 2031. The global asphalt additives market is slated to witness a CAGR of 4.5% between 2021 and 2031. The current trend is that of an excessive use of asphalt in the roofing applications, so as to improve upon their durability and service life.
Asphalt additives are external chemicals or materials added to asphalt to enhance its properties and performance, and also enhance its functional temperature. At a higher temperature, the viscosity of asphalt decreases significantly, and increases at a lower temperature, which hampers the usage of asphalt in roads, pavements, and other infrastructure. The addition of asphalt additives helps overcome this problem; it increases film thickness, thus preventing cracking, raveling, and deformation. This, in turn, reduces the maintenance cost of asphalt-constructed structures.
Request for Free Sample Copy of Asphalt Additives Market Report@https://www.persistencemarketresearch.com/samples/28951
Key Companies-
- Kraton Corporation
- Dow Chemical Company
- Honeywell International Inc.
- Evonik Industries AG
- BASF SE
- Huntsman International
- Sasol Ltd.
- Ingevity Corporation
- Arkema Group
- Kao Corporation
- Engineered Additives LLC
Request For Customization@https://www.persistencemarketresearch.com/request-customization/28951
Key Highlights of Asphalt Additives Market Study
- Rising demand for reclaimed asphalt pavement in infrastructural development is expected to boost the demand for asphalt additives. The usage of RAP helps in reduction in the use of costly virgin asphalt material, which, in turn, helps in overall cost savings. However, nearly up to 30% of RAP is mixed with virgin asphalt, as the addition of more percentage of reclaimed asphalt degrades performance efficiency.
- Warm mix asphalt technology is a fast-emerging technology due to increase in awareness about pollution control. WMA technology decreases the viscosity of the asphalt binder, so that asphalt aggregates can be overlaid at a lower temperature. This is done by the addition of asphalt additives in the asphalt mix. Addition of various ranges of additives, such as water-based, organic, and chemical additives, allows asphalt binders and asphalt aggregates to be mixed at lower temperatures, and helps produce high-performance WMA.
- Demand for asphalt used in the paving of streets and highways has been rising because of increased government investments and growth in road infrastructural development activities. Highway and road construction is increasing in countries such India and China. Thus, South East Asia and East Asia are anticipated to be key growth regions in the global asphalt additives market.
- Increasing need for environmentally-friendly asphalt additives, led by rising focus on decreasing the dependence on petroleum-based additives, has compelled market players to shift toward bio-based additives. Regulatory organizations and bodies are encouraging the commercialization of bio-based products. Owing to rising environmental awareness amongst consumers, manufacturers are focused on using eco-friendly products.
Buy Now this Report@https://www.persistencemarketresearch.com/checkout/28951
“The global outbreak of Covid-19 is expected to have a substantial impact on the asphalt additives market. Lockdown and social-distancing initiatives adopted by various governments are creating labor shortages, which would impact current and upcoming projects. Also, disruption in the supply chain due to decline in production activities and hindrance in transportation is a cause of concern for the growth of the asphalt additives market,” says a PMR analyst.
Key Questions Answered in Report
- How much is the asphalt additives market worth?
- What will be the demand outlook?
- What was the last 5 year market CAGR?
- What are the key trends of asphalt additives market?
- What is driving the demand for asphalt additives?
- What is the market share of top 5 players?
- What are the top 4 countries driving demand?
- What is North America’s market Outlook?
- At what percentage asphalt additives market is going to register growth in Europe?
- What are the key market statistics in Korea and Japan?
About us: –
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Contact Us:
Persistence market research
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Germany Office:
Persistence Market Research
Potsdamer Platz 10 Haus 2, 5th Floor Berlin,
Germany 10785
Call +1 888-863-4084