Asphalt Additives Market is expected to grow at a CAGR of 5% during the forecast period 2021 – 2031
The global asphalt additives market is projected to grow at a healthy CAGR of over 5% till 2031, surpassing US$ 8 Bn, reports Fact.MR. 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.
Historical data suggests that the market for asphalt additives expanded moderately, recording a CAGR of 3% between 2016 and 2020. The market closed in at a value of US$ 5.3 Bn by the end of the aforementioned historical period. While the pandemic crisis temporarily stymied growth in the first half, gradual easing of restrictions largely restored expansion prospects.
Asphalt additives have a concrete role to play in order to improve the performance and sustainability of roads. 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.
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Asphalt Additives Market – Scope of Report:
A latest publication by Fact.MR on the global Asphalt Additives market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.
The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.
The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2021-2031.
Important indicators for the successful growth of the Asphalt Additives market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.
This research study can support readers to know the demand for Asphalt Additives supplements, and the quantitative development opportunities during the study period.
The research is beneficial for shareholders in Asphalt Additives, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.
Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.
Prominent players in the industry are Nouryon, DowDuPont, Arkema SA, Honeywell International Inc., Evonik Industries, Huntsman Corporation, Kraton Corporation, Ingevity Corporation and BASF SE (Germany), among others.
These players focus on adopting various strategies to expand product offerings and strengthen geographic presence. With the advancement in technology, new players are expected to enter the market.
◾For instance, in March 2021, 7 companies from the GET H2 initiative show how rapidly the planning of the national and European hydrogen economy is developing. The consortium wants to build a cross-border infrastructure for hydrogen – from the production of green hydrogen to transport and industrial use.
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Report benefits & key questions answered
◾Post covid consumer spending on Asphalt Additives: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
◾Asphalt Additives demand outlook: the market intelligence study reports highlights the factor propelling the demand for Asphalt Additives. As per the study, the demand for Asphalt Additives will grow through 2031.
◾Asphalt Additives historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2021-2031.
◾Asphalt Additives consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.
Asphalt Additives Market Segmentations:
◾By Type :
◾Anti-strip Asphalt Additives
◾Asphalt Cement Additives
◾Polymer Modifier Asphalt Additives
◾Asphalt Additive Fillers and Fibers
◾Asphalt Additive Rejuvenators
◾Other Asphalt Additives
◾By Technology :
◾Warm/Hot Mix Asphalt Additives
◾Cold Mix Asphalt Additives
◾By Application :
◾Runways and Parking Lot
◾Roofing Sector (Asphalt Shingles)
◾Other Applications (Floorings, Courts, etc.)
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