Global Asphalt Additives Market
The global Asphalt Additives market was valued at USD 17.40 billion in 2016 and is projected to reach USD 24.77 billion by 2025, growing at a CAGR of 4.0% from 2017 to 2025.
Asphalt additives belong to the class of chemical compounds that are added to asphalt binder to alter the physical characteristics of the final product. The increasing number of highway projects worldwide is expected to boost market demand for asphalt additives. The growing usage of bitumen is expected to be a major threat to market growth.
1. Market Drivers
1.1 Growing consumption in the construction industry
1.2 Recyclability of asphalt
2. Market Restraints
2.1 Presence of large number of substitutes
2.2 Price volatility of asphalt
The global Asphalt Additives marketis segmented on the basis ofproduct, application, technology, and region.
1. By Product:
1.1 Anti-strip and Adhesion Promoters
1.2 Polymeric Modifiers
1.3 Chemical Modifiers
2. By Application:
2.2 Airport Construction
2.4 Paving & Road Construction
3. By Technology:
3.1 Warm Mix
3.2 Cold Mix
3.3 Hot Mix
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. EI Du Pont De Nemours
2. AkzoNobel NV
3. Arkema SA
5. Honeywell International
6. Sasol Limited
7. DOW Chemical Company
8. Ingevity Corporation
10. Kraton Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Asphalt Additives marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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