Asphalt Additive Market Strategies: Enhancing Asphalt Durability

1
Asphalt Additive Market Size, Share, Analysis,
Trends, Growth, Competitive Landscape by Key
Segmentation, Outlook The report "Asphalt
Additive Market by Type (Polymeric Modifiers,
Anti-Strip Adhesion Promoters, Emulsifiers,
Chemical Modifiers, Rejuvenators, Fibers, Flux
Oil, Colored Asphalt), Application, Technology
And Region - Global Forecast to 2028", The
asphalt additive market is projected to grow
from USD 4.0 billion in 2023 to USD 5.8 billion
by 2028, at a CAGR of 7.7 from 2023 to 2028.
increase in government expenditure on
infrastructure across the countries can be
attributed to the increasing construction of
roads and other public infrastructure development
projects for improved transportation and
enhanced connectivity between important economic
centers in these countries. These factors are
driving the consumption of asphalt additives
across the world. Browse in-depth TOC on
"Asphalt Additive Market" 544 Tables 55
Figures 348 Pages Download PDF Brochure
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id156734514 By type, the polymeric modifiers
segment is estimated to have the largest share of
asphalt additive market from 2023 to 2028, in
terms of volume. Based on type, the asphalt
additive market has been segmented into Polymeric
Modifiers, Anti-strip adhesion promoters,
Emulsifiers, Chemical Modifiers, Rejuvenators,
Fibers, Flux Oil, Colored Asphalt, and others.
The polymeric modifier segment of the asphalt
additive market is projected to lead during 2023
to 2028. High-performance polymeric modifiers
with improved characteristics have been created
as a result of improvements in polymer
technology. The asphalt can handle significant
traffic loads and severe weather conditions due
to enhanced adhesion, resistance to deformation,
and elasticity of these modifiers. Thus, the
application of polymeric modifiers in the asphalt
industry is boosted by the ongoing improvement
in polymer technology.
By application, the roofing segment is expected
to grow at the fastest rate during the forecast
period, in terms of value. Based on application,
the asphalt additive market has been segmented
into road construction paving, roofing,
airport construction, and others. The roofing
segment is expected to grow at the highest CAGR
during the forecast period, in terms of value.
The demand for roofing materials is fueled by
increased infrastructure development, including
industrial, residential, and commercial
construction projects. With the expansion of the
construction sector, the need for asphalt-based
roofing materials is increasing.
2
Asphalt additives can improve the performance of
roofing materials, weather resistance, and
waterproofing, making them acceptable for harsh
weather conditions. These factors further fuel
the growth of this segment. Request
Sample Pages https//www.marketsandmarkets.com/re
questsampleNew.asp?id156734514 By region, the
Asia Pacific segment is estimated to have the
largest share of the asphalt additive market
from 2023 to 2028, in terms of volume. Based on
region, the asphalt additive market has been
segmented into Asia Pacific, North America,
Europe, Middle East Africa, and South America.
The Asia Pacific region of the asphalt additive
market is projected to account for the largest
share during the forecast period. Governments in
nations like China, India, and Southeast Asian
countries are making significant investments in
developing and enlarging their transportation
networks, including their airports, roads, and
highways. The need for additives for asphalt has
increased as a result of the growth in
infrastructure development projects. The
increasing economy and rising disposable incomes
of the region have raised demand for better
transport facilities. Asphalt additives play a
major role in enhancing the performance and
durability of roads, thus driving their demand
in this region.
Asphalt Additive Market Key Players Nouryon
(Netherlands), Dow (US), Arkema SA (France),
Honeywell International Inc. (US), Evonik
Industries (Germany), Huntsman Corporation (US),
Kraton Corporation (US), Ingevity Corporation
(US), and BASF SE (Germany) are some of the
leading players operating in the asphalt additive
market.
3
Kraton Corporation (US) Kraton Corporation is a
leading specialty chemical company that
manufactures styrene block copolymers and other
engineered polymers. In September 2016, Kraton
Performance Polymer Inc. changed its name to
Kraton Corporation. The company has operations in
performance products, performance chemicals,
specialty polymers, adhesives, cariflex, and
tires. The company operates its business through
two segments namely, Polymer and Chemical.
Kraton Corporation provides asphalt additives
under its polymer segment. It has a strong
geographic reach across North America, South
America, Europe, and Asia with operations in
over 70 countries worldwide. Ingevity
Corporation (US) Ingevity Corporation is a
manufacturer of specialty chemicals and
high-performance carbon materials. The specialty
chemical products are used in a range of high-
performance applications, such as pavement
technologies, oil field technologies, and
industrial specialties. The company operates its
business through two segments, namely,
Performance Materials and Performance Chemicals.
The performance materials segment offers
automotive carbon products used in gasoline vapor
emission control systems in cars, trucks,
motorcycles, and boats. The performance chemicals
segment provides products derived from pine
chemicals used in asphalt paving, oilfield
technologies, and other diverse industrial
specialty applications, such as adhesives,
agrochemical dispersants, publication inks,
lubricants, and petroleum. Grupo Dynasol
(Spain) Grupo Dynasol is one of the major
producers in the synthetic rubber and rubber
chemical markets. In 1999, Repsol and KUO group
jointly started a global business project, which
primarily focused on the manufacturing of
synthetic rubber based on solutions and the
development of new products. The company has
production sites in Santander and Altamira in
Spain and Tamaulipas in Mexico. The total
production capacity of Solution Styrene Butadiene
Rubber (SSBR) and Styrene Butadiene Styrene (SBS)
is 110,000 tons per year and 112,000 tons per
year in Altamira and Santander, respectively. It
also has a joint venture in China, which has a
production capacity of 100,000 tons per year of
SBS and SSBR. Some of the markets served by this
segment are adhesives, asphalt modification,
polymer modification, seals, shoe soles,
thermoplastic compounds, and industrial
vulcanized articles. About MarketsandMarkets Ma
rketsandMarkets is a blue ocean alternative in
growth consulting and program management,
leveraging a man-machine offering to drive
supernormal growth for progressive organizations
in the B2B space. We have the widest lens on
emerging technologies, making us proficient in
co-creating supernormal growth for clients. The
B2B economy is witnessing the emergence of 25
trillion of new revenue streams that are
substituting existing revenue streams in this
decade alone. We work with clients on growth
programs, helping them monetize this 25
trillion opportunity through our service lines -
TAM Expansion, Go-to- Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement,
and Thought Leadership Marketing. Built on the
GIVE Growth principle, we work with several
Forbes Global 2000 B2B companies - helping them
stay relevant in a disruptive ecosystem. Our
insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market
Intelligence Cloud, and years of research. The
KnowledgeStore (our Market Intelligence Cloud)
integrates our research, facilitates an analysis
of interconnections through a set of
applications, helping clients look at the entire
ecosystem and understand the revenue shifts
happening in their industry.
4
Contact Mr. Aashish Mehra MarketsandMarkets
INC. 630 Dundee Road Suite 430 Northbrook, IL
60062 USA 1-888-600-6441 sales_at_marketsandmarkets
.com