DUBLIN, May 12, 2021 /PRNewswire/ -- The "Asphalt Additives Market by Product Type, by Application Type, by Technology Type, and by Region, Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026" report has been added to ResearchAndMarkets.com's offering.
After a slowdown in growth in 2021, the market is likely to regain its growth momentum from 2022, ultimately reaching an estimated US$ 3.7 billion in 2026.
This strategic assessment report provides a comprehensive analysis that reflects today's asphalt additives market realities and future market possibilities for the forecast period of 2020 to 2025.
The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for asphalt additives at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenarios.
The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Asphalt Additives Market: Highlights
Additives gained huge momentum in the asphalt pavement industry in the wake of the requirements of high temperature and aging resistance, improvement in thermal cracking and stripping, and reduced maintenance cost of pavements. More than 90% of the road pavements performed today are being done with asphalt.
There is also an increase in the penetration of asphalt with additives over unmodified asphalt. The COVID-19 pandemic brought in slight disruption in the growth of the asphalt paving industry as well as the asphalt additives market with lockdown, shortage of labor, postponement of infrastructural development programs, and disruption in the supply chain all across the globe being the major restraining factors.
The polymer is expected to remain the key product type in the market over the next five years. Key driving factors for polymers are better durability and flexibility, reduction in the life cycle cost, and reduction in rutting, and thermal cracking. Also, different regions have a dominance of different additives along with varying dosage rates. For instance, China has a high penetration of polymer additives, whereas Brazil has a high penetration of emulsifiers.
Road construction is estimated to maintain its huge dominance in the market in the years to come. Increasing new road construction projects fueled by federal and state governments especially in developing economies and strong demand for road maintenance and preservation from the developed economies. Furthermore, there has been an increasing penetration of road asphalt with additives over unmodified asphalts.
Hot mix is estimated to maintain its dominance during the forecast period, whereas warm mix is expected to grow at the highest rate for the same period. Warm mix asphalt is gaining traction with its superiority in the reduction of carbon and fumed gas emissions and safer work environments over hot mix asphalt. North America is the world's largest market for warm mix asphalts, whereas Asia-Pacific is the largest market for hot mix asphalt.
In terms of regions, Asia-Pacific is expected to remain the largest market over the next five years. China, Japan, and South Korea are the leading markets in the region. Strong demand exists from both new road pavement projects as well as pavement preservation/maintenance in the Asia-Pacific region. There is also huge whitespace opportunity from the developing Asian economies, such as India, where additive penetration in the asphalt industry is very low currently.
The supply chain of this market comprises raw material suppliers, asphalt additive manufacturers, asphalt/emulsion manufacturers, asphalt pavement contractors, and state and national highway authorities.
The key asphalt additives manufacturers are Kraton Corporation, Ingevity Corporation, Arkema S. A, Nouryon Chemicals B. V., Kao Chemicals, Sinopec Corp., Colas, BASF SE, Iterchimica S.r.l., Cargill Inc., DowDuPont, Solvay SA, Evonik Industries AG, and Sasol Limited.
Key Topics Covered:
1. Executive Summary
2. Asphalt Additives Market Overview and Segmentation2.1. Introduction2.2. Asphalt Additives Market Segmentation2.3. Supply Chain Analysis2.4. Industry Life Cycle Analysis2.5. PEST Analysis2.6. SWOT Analysis
3. Asphalt Additives Market - The COVID-19 Impact Assessment3.1. Asphalt Additives Market Trend and Forecast (US$ Million and KT) 3.2. Pre-COVID vs Post-COVID Assessment3.3. Asphalt Additives Market Scenario Analysis: Pessimistic, Most Likely, and Optimistic3.4. Market Segments' Analysis (US$ Million and KT)3.5. Regional and Country-Level Analysis (US$ Million)3.6. Market Drivers3.7. Market Challenges
4. Competitive Analysis4.1. Insights4.2. Product Portfolio Analysis4.3. Geographical Presence4.4. New Product Launches4.5. Strategic Alliances4.6. Market Share Analysis4.7. Porter's Five Forces Analysis
5. Asphalt Additives Market Trend and Forecast by Product Type (2015-2026)5.1. Insights5.2. Anti-Stripping Agent/Adhesion Promoter5.3. Rejuvenators5.4. Emulsifiers5.5. Polymer
6. Asphalt Additives Market Trend and Forecast by Application Type (2015-2026)6.1. Insights6.2. Road Construction6.3. Parking Lots6.4. Roofing
7. Asphalt Additives Market Trend and Forecast by Technology Type (2015-2026)7.1. Insights7.2. Hot Mix Additives7.3. Warm Mix Additives7.4. Cold Mix Additives
8. Asphalt Additives Market Trend and Forecast by Region (2015-2026)
9. Strategic Growth Opportunities9.1. Market Attractiveness Analysis9.2. Emerging Trends9.3. Growth Matrix Analysis9.4. Strategic Implications9.5. Key Success Factors (KSFs)
10. Company Profile of Key Players (Profiling, Financial Information, Competition, Strategies, etc.)
- Arkema S.A.
- BASF SE
- Evonik Industries AG
- Ingevity Corporation
- Iterchimica S.r.l.
- Kao Corporation
- KRATON CORPORATION
- Nouryon Chemicals B.V.
- Sasol Limited
- Sinopec Corp.
For more information about this report visit https://www.researchandmarkets.com/r/8llyl2
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SOURCE Research and Markets