The global asphalt additives market revenue was US$ 3.9 billion in 2021 and is projected to reach US$ 6.22 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
Bitumen, another name for asphalt, is a liquid or semisolid type of petroleum. Both natural deposits and a range of processed products contain asphalt. Asphalt additives are substances that are added to asphalt binders, such as polymeric modifiers, anti-strip & adhesion boosters, emulsifiers, rejuvenators, chemical modifiers, and others. Asphalt additives are employed in various projects, such as building roads, container terminals, airports, and roofs. Asphalt additives shield the pavement against rutting and moisture-related deterioration. Depending on the application, such as hot mix, cold mix, or warm mix, many types of asphalt additives are blended into asphalt binders.
Factors Influencing the Global Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic caused worldwide supply chain disruption and building project delays. In order to stop the spread of COVID-19, governments worldwide implemented strict lockdowns and curfews. Construction was one of the most negatively hit industries owing to the economic downturn because of a lack of labor, raw supplies, and government regulations that delayed ongoing projects. However, many local governments took the initiative to resume the construction work linked to roads, highways, and buildings in the third quarter of 2020. In April 2020, Germany's Federal Ministry of Transport and Digital Infrastructure resumed road and building construction.
Regional Outlook
Asia-Pacific held a significant revenue share in 2021 and is forecast to grow at the highest CAGR during the forecast period because of the expansion of the real estate industries in China and India. Due to the continuous growth of the urban population and improved infrastructure, the key segments dominating the other segments are road building, road paving, and roofing. The demand for asphalt additives in the Asia-Pacific region is growing by the expanding construction sector and government attempts to upgrade roadways in major economies, including China and India. Huge investments made by multinational corporations in the high-growth potential economies of the region are another important element creating promising market opportunities. The market is growing due to rising automotive ownership and rising government spending on infrastructure construction.
Prominent Companies
Some of the leading players in the global asphalt additives market are:
Segmentation Outline
The global asphalt additives market segmentation focuses on Type, Application, and Region.
By Type
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ASPHALT ADDITIVES MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL ASPHALT ADDITIVES MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL ASPHALT ADDITIVES MARKET, BY TYPE
5.1 OVERVIEW
5.2 POLYMERIZED ASPHALT CEMENT
5.3 NOVOPHALT
5.4 MULTIGRADE ASPHALT CEMENT
5.5 POLYESTER MODIFIER
5.6 OTHERS
6 GLOBAL ASPHALT ADDITIVES MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 ROAD CONSTRUCTION
6.3 ROAD PAVING
6.4 AIRPORT RUNWAY
6.5 PARKING LOTS
6.6 ROOFING
6.7 OTHERS
7 GLOBAL ASPHALT ADDITIVES MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL ASPHALT ADDITIVES MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
9 COMPANY PROFILES
9.1 AKZO NOBEL N.V.
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.2 NOURYON
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.3 INGEVITY
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.4 TRI-CHEM SPECIALTY CHEMICALS, LLC
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.5 EVONIK INDUSTRIES AG
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.6 SASOL
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.7 KAO CORPORATION
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.8 ARKEMA GROUP
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.9 HUNTSMAN INTERNATIONAL LLC
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.10 HONEYWELL INTERNATIONAL INC.
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
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