The global asphalt additives market is projected to grow at a healthy CAGR of over 5% till 2027, says Fact.MR. Out of every hundred kilometers of newly paved roads constructed worldwide – an estimated 40 kilometers of roads are asphalt based. Road infrastructure is one of the key priorities of governments, and close to 35% of worldwide infrastructure investment is likely to be allocated towards this. Asphalt additives have a concrete role to play in order to improve the performance and sustainability of roads.
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Sustainable surfaces are an important attribute in the road construction industry, and present a prime opportunity for government departments as well as contractors to use additives in asphalt paved roads. Construction industry trends have asserted the need for eco-friendly additives in road construction, wherein preference for non-petroleum based additives has gained momentum. This, has encouraged industry participants to shift toward bio-based additives.
Key Takeaways of the Asphalt Additives Market
- Warm/hot mix segment led the asphalt additives market in 2018. It is likely to maintain its hegemony during the forecast period. The warm/hot mix segment is also anticipated to expand at a rapid pace in the asphalt additives market during the forecast period.
- Polyester modifiers accounted for more than one third of the asphalt additives market in 2018. It is likely to decline during the forecast period on the back of increasing penetration of other additives such as bitumen emulsifiers and rejuvenators.
- Fact.MR says demand for road construction is expected to grow 1.5X over the next decade owing to an increased demand for sustainable roads
- Middle East & Africa are anticipated to witness a significant growth of around 6% through the forecast period. Asphalt additives market in the Middle East and Africa is highly influenced by new road network projects which promotes the use of asphalt additives. The project is part of its efforts to achieve sustainability, promote innovation, encourage recycling and create a national green road network.
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“Asphalt additives demand is focused on advances in bio-based, recycled materials that can be used to minimize harmful emissions and save the world from their negative effects.” according to a Fact.MR analyst
Product Innovations Strengthening the Foothold of Key Manufacturers
The increasing number of construction projects and smart city developments are creating a way ahead for key manufacturers as well as new entrants in the landscape of asphalt additives. Key players in the asphalt additives market, such as Evonik Industry developed VESTENAMER® – a cost-effective and sustainable additive, which can act as a catalyst in the process of using rubber powder from scrap tires to manufacture asphalt additives with high rubber content.
Find More Valuable Insights on the Asphalt additives Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for asphalt additives, with historical data on demand (2013-2018) and expected projections for the period 2019-2027. The report discloses compelling insights into the demand for asphalt additives based on type (Anti-strip Additives, Bitumen Emulsifiers, Asphalt Cement, Polymer Modifier, Fibers, Rejuvenators, Flux Oil and Others), technology (Hot /Warm Mix Additives and Cold Mix Additives,) and end use industry (Road Construction, Runways and Parking lot, Roofing (Asphalt Shingles, etc.), and Others) across several regions.
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