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Published Date: 2015-11-03Number of Pages: 180

Asphalt Additives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Global Asphalt Additives Market – Key Trends 

The rising road construction activities worldwide are significantly aiding the expansion of the global asphalt additives market. Since the Middle East and Africa (MEA) boasts rising spending in construction activities, the demand for asphalt additives is expected to rise considerably from the region. Saudi Arabia and Qatar are currently the most attractive markets for asphalt additives in MEA. According to TMR, the global asphalt additives market will rise at a CAGR of 4.2% between 2015 and 2023, as economies around the world increasingly invest in road development and maintenance activities.

In contrast, the availability of numerous substitutes such as bricks, concrete, pavers, cements, and others threatens the market’s trajectory to an extent. Nevertheless, the rising use of polymer modified asphalt (PMA) in pavements, waterproofing, and sprayed sealants is expected to fuel demand from the market in the near future.

As per Transparency Market Research, the global asphalt additives market stood at US$2.9 bn in 2014. The market is expected to reach US$4.2 bn by the end of 2023.

 

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Applications of Asphalt Additives in Road Construction and Paving Grow Considerably

On the basis of volume, the global asphalt additives market was led by the road construction and paving segment in 2014. The segment held over 83.2% of the market in the year. The increasing use of asphalt in road construction activities is expected to fuel demand for asphalt additives considerably in the forthcoming years. Asphalt additives provide superior binding properties to asphalt and also improve film thickness. This is one of the key factors accelerating the demand for asphalt additives in the construction and paving activities.

Besides this, the market is also expected to gain significant impetus from the rising application of asphalt additives in the roofing segment. Asphalt additives are generally used for roofing to improve its waterproofing abilities. The rising construction of nuclear homes across developing nations will therefore boost demand for asphalt additives from the roofing segment. Other than this, application of asphalt additives is also expected to increase in the construction of airways, public structure, and parking lots.

Rising Construction Activities to Fuel Demand for Asphalt Additives from Asia Pacific

The emerging economies are currently exhibiting rising demand for asphalt additives. The robust infrastructural development witnessed across these countries has been pivotal in fuelling demand from the asphalt additives market. Regionally, Asia Pacific has emerged as the largest contributor to the global market. The rising investment in construction activities in the region has sealed Asia Pacific’s dominance in the global market. By volume, the region held over 33% of the global asphalt additives market in 2014. Due to the growing construction industry in emerging economies such as India and China, the demand for hot mix additives (HMA) and warm mix additives (WMA) is quite high in Asia Pacific. Furthermore, TMR expects the Asia Pacific market to grow at a steady pace during the forecast period.

North America in the same year emerged as second largest market for asphalt additives. The extensive usage of latest technologies for the construction and maintenance of roads provides lucrative opportunities for the asphalt additives manufacturers in North America. Due to the superior value addition offered by HMAs and WMAs, their demand is the highest in North America.

Some of the leading companies operating in the global asphalt additives market are Evonik Industries AG, E. I. du Pont de Nemours and Company, The Dow Chemical Company, Honeywell International Inc., and Akzo Nobel N.V.

Chapter 1 Preface
1.1 Report Description
1.2 Research Scope & Assumptions
1.3 Market Segmentation
1.4 Research Methodology

Chapter 2 Executive Summary
2.1 Global Asphalt Additives Market, 2014 - 2023, (Kilo Tons) (US$ Mn)
2.2 Global Asphalt Additives: Market Snapshot  

Chapter 3 Asphalt Additives Market– Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis
3.3 Market Drivers
      3.3.1 Increasing expenditure on construction in MEA to augment demand for asphalt additives 
      3.3.2 Increase road construction activities to boost demand for asphalt additives during the forecast period
3.4 Restraints
      3.4.1 Asphalt alternatives likely to hamper the growth of the asphalt additives market
3.5 Opportunity
      3.5.1 Rising application scope of polymer modified asphalt (PMA) is anticipated to increase demand for asphalt additives
3.6 Porter’s Five Forces Analysis
      3.6.1 Bargaining Power of Suppliers
      3.6.2 Bargaining Power of Buyers
      3.6.3 Threat of Substitutes
      3.6.4 Threat of New Entrants
      3.6.5 Degree of Competition
3.7 Asphalt Additives Market Attractiveness Analysis, 2014

Chapter 4 Price Trend Analysis
4.1 Asphalt Additives: Global Price Trends, 2014-2023

Chapter 5 Asphalt Additives Market – Technology Analysis
5.1 Global Asphalt Additives Market: Technology Overview 
5.2 Asphalt Additives Market: By Technology
      5.2.1 Global Asphalt Additives Market Market for Hot Mix & Warm Mix Additives, 2014 – 2023 (Kilo Tons) (US$ Mn)
      5.2.2 Global Asphalt Additives Market Market for Cold Mix Additives, 2014 – 2023 (Kilo Tons) (US$ Mn)

Chapter 6 Asphalt Additives Market - Application Analysis
6.1 Asphalt Additives Market: Application Overview
6.2 Asphalt Additives Market: By Application
      6.2.1 Global Asphalt Additives Market for Road Construction and Paving, 2014–2023 (Kilo Tons) (US$ Mn)
      6.2.2 Global Asphalt Additives Market for Roofing, 2014–2023 (Kilo Tons) (US$ Mn)
      6.2.3 Global Asphalt Additives Market for Others, 2014–2023 (Kilo Tons) (US$ Mn)

Chapter 7 Asphalt Additives Market - Regional Analysis
7.1 Global Asphalt Additives Market: Regional Overview
7.2 North America
      7.2.1 North America Asphalt Additives Market: By Technology
      7.2.2 North America Asphalt Additives Market: By Application
      7.2.3 U.S. Asphalt Additives Market: By Technology
      7.2.4 U.S. Asphalt Additives Market: By Application
      7.2.5 Rest of North America Asphalt Additives Market: By Technology
      7.2.6 Rest of North America Asphalt Additives Market: By Application
7.3 Europe
      7.3.1 Europe Asphalt Additives Market: By Technology
      7.3.2 Europe Asphalt Additives Market: By Application
      7.3.3 Germany Asphalt Additives Market: By Technology
      7.3.4 Germany Asphalt Additives Market: By Application
      7.3.5 Turkey Asphalt Additives Market: By Technology
      7.3.6 Turkey Asphalt Additives Market: By Application
      7.3.7 U.K. Asphalt Additives Market: By Technology
      7.3.8 U.K. Asphalt Additives Market: By Application
      7.3.9 France Asphalt Additives Market: By Technology
      7.3.10 France Asphalt Additives Market: By Application
      7.3.11 Italy Asphalt Additives Market: By Technology
      7.3.12 Italy Asphalt Additives Market: By Application
      7.3.13 Rest of Europe Asphalt Additives Market: By Technology
      7.3.14 Rest of Europe Asphalt Additives Market: By Application
7.4 Asia Pacific
      7.4.1 Asia Pacific Asphalt Additives Market: By Technology
      7.4.2 Asia Pacific Asphalt Additives Market: By Application
      7.4.3 China Pacific Asphalt Additives Market: By Technology
      7.4.4 China Pacific Asphalt Additives Market: By Application
      7.4.5 India Asphalt Additives Market: By Technology
      7.4.6 India Asphalt Additives Market: By Application
      7.4.7 ASEAN Pacific Asphalt Additives Market: By Technology
      7.4.8 ASEAN Pacific Asphalt Additives Market: By Application
      7.4.9 Rest of Asia Pacific Asphalt Additives Market: By Technology
      7.4.10 Rest of Asia Pacific Asphalt Additives Market: By Application
7.5 Latin America
      7.5.1 Latin America Asphalt Additives Market: By Technology
      7.5.2 Latin America Asphalt Additives Market: By Application
      7.5.3 Brazil Asphalt Additives Market: By Technology
      7.5.4 Brazil Asphalt Additives Market: By Application
      7.5.5 Rest of Latin America Asphalt Additives Market: By Technology
      7.5.6 Rest of Latin America Asphalt Additives Market: By Application
7.6 Middle East & Africa
      7.6.1 Middle East & Africa Asphalt Additives Market: By Technology
      7.6.2 Middle East & Africa Asphalt Additives Market: By Application
      7.6.3 GCC Asphalt Additives Market: By Technology
      7.6.4 GCC Asphalt Additives Market: By Application
      7.6.5 South Africa Asphalt Additives Market: By Technology
      7.6.6 South Africa Asphalt Additives Market: By Application
      7.6.7 Rest of Middle East & Africa Asphalt Additives Market: By Technology
      7.6.8 Rest of Middle East & Africa Asphalt Additives Market: By Application

Chapter 8 Company Profiles
8.1 Evonik Industries Corporation 
8.2 E. I. du Pont de Nemours and Company 
8.3 The Dow Chemical Company
8.4 Akzo Nobel N.V.
8.5 Honeywell International Inc.
8.6 Huntsman Corporation
8.7 Berkshire Engineering Supplies
8.8 Engineered Additives LLC
8.9 Terex East Africa Ltd.
8.10 Kao Corporation
8.11 Arkema Inc.
8.12 ArrMaz
8.13 Kraton Performance Polymers, Inc.

Chapter 9 Primary Research – Key Findings

Asphalt additives are substances added to asphalt to modify characteristic properties of asphalt binder. Primary reason for adding additives to asphalt is to increase the functional temperature range of asphalt. Viscosity of asphalt decreases at high temperature and increases drastically at low temperature. This hinders the usage of asphalt in roads, pavements, airfields, and parking lots made of asphalt. Usage of additives helps overcome this shortcoming. Additives are also used to enhance the binding property of asphalt by strengthening the asphalt aggregate bond. Furthermore, additives improve the film thickness of asphalt, thus preventing cracking, raveling, and deformation. This, in turn, reduces maintenance cost of asphalt-constructed structures. There are different types of asphalt additives. However, varieties that are primarily used include asphalt rubber, polymers, and chemical modifiers. Fibers and fillers are also used as additives in asphalt.

This report provides detailed analysis and forecast of the asphalt additives market on a global and regional level from 2015 to 2023. On the global level, the market has been segmented based on volume (kilo tons) and revenue (US$ Mn) from 2015 to 2023.Demand for asphalt additives has been forecast in terms of volume (kilo tons) and revenue (US$ Mn) from 2015 to 2023 to provide in-depth understanding of the market at the regional level. The report includes drivers and restraints coupled with their impact on the market growth during the forecast period. Furthermore, the study encompasses various opportunities for growth of the market at the global and regional level.

The report thoroughly analyzes the value chain to provide detailed understanding of the market. Additionally, it covers Porter’s Five Forces Model, which offers an insight into the intensity of competition in the market. The study also comprises market attractiveness analysis, wherein various technologies are benchmarked based on their market size, growth rate, and general attractiveness.

We conducted in-depth interviews and discussions with numerous key industry participants and opinion leaders for the research report. Primary research represents the bulk of our research efforts coupled with extensive secondary research. We reviewed key players’ annual reports, product portfolio, press releases, and relevant documents for competitive analysis and better understanding of the market. Secondary research includes in-depth research on current trends, technical writing, recent trade, Internet sources, trade associations, and statistical data from government websites as well as associated and authorized agency websites. This proved to be the most successful, effective, and reliable approach for obtaining concise data, capturing industry participants’ insights, and recognizing opportunities and growth.

Inflation is not a part of pricing in this report. This report provides the size of the asphalt additives market for 2014 and forecast for the next eight years. The global market size of asphalt additives is presented in terms of volume and revenue. Market volume and revenue have been estimated and forecast in kilo tons and US$ Mn, respectively. Various key technologies and applications are taken into consideration to estimate market numbers. Market size and forecast for each segment are provided in the context of global and regional markets. The market has been segmented based on various applications. Each segment has been analyzed and forecast based on volume (kilo tons) and revenue (US$ Mn) from 2015 to 2023. Additionally, segments have been analyzed and forecast based on current trends at the global and regional level. Geographically, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Demand has been analyzed and forecast based on current trends for the next eight years.

The report includes profiles of leading companies such as ArrMaz, Arkema Group, Kao Corporation, Honeywell International Inc., E. I. du Pont de Nemours and Company, The Dow Chemical Company, Berkshire Engineering Supplies, Huntsman Corporation, and Engineered Additives.

The report segments the global asphalt additives market as follows:

Asphalt Additives Market - Technology Analysis

  • Hot/warm mix
  • Cold mix

Asphalt Additives Market - Application Analysis

  • Road construction & paving
  • Roofing
  • Others (Including airfields, parking lots, drinking water enclosures, waste disposal sites, and bridge decks)

Asphalt Additives Market: Regional Analysis

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • Germany
    • Turkey
    • U.K.
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of Middle East & Africa