Global Asphalt Additives Market: Overview
Asphalt additives are used in the asphalt cement in order to increase its flexibility, durability, resistance to moisture or temperature, and excellent workability. The additives such as rubber, plastic, filler, extender, fiber, antioxidants, hydrocarbons, oxidants, antistripping agents, rubber-plastic combination, and waste materials are used to mix in the correct proportion in the asphalt cement. The use of additives in the cement reduces the demand for the reconstruction of the infrastructures globally and save the cost of the reconstruction procedures.
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Global Asphalt Additives Market: Growth Factors
The growing population across the globe has resulted in the construction of more roads, airports, and other infrastructures which in turn helps the global asphalt additives market growth. The expanding innovation in the technology regarding the production and launching of advanced products for the road construction, paving, and roofing purposes boost the global market growth. The physical properties of the asphalt additives such as flexibility, durability, easy use, availability, resistance to moisture, super workability, and resistance to thermal cracking are expected to fuel the overall global market growth. The growing infrastructure construction such as highways, airports, racetrack, and other heavy traffic roads are also responsible for escalating the global market growth.
Global Asphalt Additives Market: Segmentation
The global asphalt additives market is bifurcated based on the type, technology, application, and region. The type segment is further divided into emulsifiers, chemical modifiers, anti-strip and adhesion promoters, polymeric modifiers, fibers, organic materials, rejuvenators, warm mix additives, and rubber modifiers. The technology segment is further categorized into a cold mix, warm mix, and hot mix. The application segment is classified into airport construction, road construction and paving, bridge construction, roofing, and parking lot construction. The regional segmentation includes the Middle East and Africa, North America, Asia-Pacific, Europe, and Latin America. The polymeric modifiers, road construction, and pavement, and hot mix segments are the ones dominating the global market.
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Global Asphalt Additives Market: Regional Analysis
Asia-Pacific dominates the global asphalt additives market due to the rising demand for asphalt additives in the emerging regions such as India and China. In Asia-Pacific region, China leads the global market. The growing technological innovations and the collaboration of a number of industries are the major factors driving the growth of the global market in the Asia-Pacific regions. The huge investment by the governments of the countries such as Indonesia, China, Malaysia, and India in the Asia-Pacific regions for the infrastructure development is expected to fuel the growth of the global market.
Global Asphalt Additives Market: Competitive Players
The major players in the global asphalt additives market include Honeywell International Inc., AkzoNobel NV, Huntsman Corporation, The Dow Chemical Company, Arrmaz, E. I. du Ponte de Nemours and Company, Kraton Corporation, Ingevity Corporation, Sasol Limited, Arkema SA, and Evonik Industries. The global market is diversified by the contribution of the raw materials suppliers, end-users, vendors, and government organizations.
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Global Asphalt Additives Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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