Allied Market Research published a report,
titled, "Asphalt
Additives Market by by Type (Polymerized Asphalt
Cement, Novophalt, Multigrade Asphalt Cement, Polyester Modifier and Others)
and Application (Road Construction, Road Paving, Airport Runway, Parking Lots,
Roofing and Others): Global Opportunity Analysis and Industry Forecast,
2020–2027." According to the report, the global
asphalt additives market garnered $3.6 billion in 2019, and is
estimated to reach $5.3 billion by 2027, registering a CAGR of 5.1%
from 2020 to 2027.
Drivers, restraints, and opportunities:
Increase in demand for asphalt from road
construction industry, growth in conformity with latest manufacturing
standards, and rapid urbanization drive the global asphalt additives market.
However, change in regulatory environment restrains the market growth. On the
other hand, rise in awareness regarding energy conservation & sustainable
infrastructure creates new opportunities in the coming years.
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Covid-19 Scenario
- During coronavirus pandemic, governments have
held the budget allocations and investments in constructing new highways
and expressways.
- However, the demand for asphalt additives have
been decreased, especially in Asia-Pacific region, owing to the
rapid transmission of corona virus in this region.
- Moreover, due to lockdown, construction
activities have been halted all across the world to avoid the spread of
corona virus.
Get Detailed COVID-19 Impact Analysis on the
Asphalt Additives Market @ https://www.alliedmarketresearch.com/request-for-customization/595?reqfor=covid
The polymerized asphalt cement segment to maintain
its lead status in terms of revenue throughout the forecast period:
Based on type, the polymerized asphalt cement
segment accounted for more than half of the total share of the global asphalt
additives market in 2019, and is expected to maintain its lead status in terms
of revenue throughout the forecast period. This is due to increased usage
polymerized asphalt cement in road maintenance and repair activities to
renovate previously constructed roads. However, the novophalt segment is
estimated to portray the highest CAGR of 5.9% from 2020 to 2027, owing to the
emergence of new urban areas in developing economies
like China and India. Furthermore, this countries requires an
efficient road construction mechanism to optimize maintenance costs and to
provide stripping and rutting-free road surfaces.
The road construction segment to maintain its
leadership position during the forecast period:
Based on application, the road construction segment
contributed to the highest market share, accounting for more than half of the
global asphalt additives market share in 2019, and is estimated to maintain its
leadership position during the forecast period. This is attributed to
construction of new roads along with road maintenance and repair projects in
the developing countries like Brazil, China and India. However,
the roofing segment is estimated to generate the fastest CAGR of 7.1% from 2020
to 2027. This is due to rapid urbanization in developing nations such
as China and India.
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Asia-Pacific, followed by North America, to
maintain its dominant by 2026:
Based on region, Asia-Pacific, followed
by North America, accounted for the highest share based on revenue,
holding for nearly one-thirds of the global
asphalt additives market in 2019, and is projected to
maintain its dominant position throughout the forecast period. Moreover, this
segment is estimated to portray the highest CAGR of 5.6% from 2020 to 2027.
This is attributed to the growth in infrastructure and building &
construction activities that include construction of highways, expressways,
residential complexes across the developing economies such
as China and India. In addition, North America is
anticipated to portray a CAGR of 5.4% during the forecast period.
Leading market players
- Arkema Group
- Akzo Nobel N.V.
- Evonik Industries AG
- Huntsman International LLC
- Ingevity, KAO Corporation
- Nouryon, Sasol
- Tri-Chem Specialty Chemicals, LLC.
- Bershire Engineering Supplies
- Kraton
- BASF SE
- Engineered Addtives LLC
- Delta Companies Inc
About Us
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