The global asphalt additives market is projected to be valued at approximately US$ 6.1 billion in 2023, with expectations of growing at a compound annual growth rate (CAGR) of 5.0%, reaching US$ 9.9 billion by 2033.

Asphalt additives are incorporated into asphalt binders to modify the properties of the mixture used in the upper layers of roads. The choice of additive is influenced by factors such as climate, roadbed structure, and road type. Additives are selected based on the specific requirements of the road being constructed.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=4413

Country-wise Insights

In the United States, over 2.2 million miles of roads are paved, with more than 94% utilizing asphalt surfaces.

Rising traffic congestion is causing the degradation of key roads and highways, prompting government agencies to invest in infrastructure projects aimed at improving road conditions. This has opened up new opportunities for asphalt additive manufacturers to meet growing demands.

The U.S. asphalt additives market is expected to grow at a compound annual growth rate (CAGR) of 6.0% over the forecast period, driven by these infrastructure initiatives.

Category-wise Insights

Hot/warm mix asphalt is the leading paving material in the asphalt market. By incorporating warm mix asphalt additives, producers can lower the temperatures required for mixing and applying asphalt, which helps reduce greenhouse gas emissions and fuel consumption.

These additives are gaining popularity in both developed and developing nations due to rising awareness about pollution prevention. Consequently, the use of asphalt additives as desiccants is expected to grow at a CAGR of 5.4% throughout the forecast period.

Read More: https://www.factmr.com/report/4413/asphalt-additives-market

Competitive Landscape

Key manufacturers in the asphalt additives market include BASF SE, Nouryon, Dow, Arkema SA, Honeywell International Inc., Evonik Industries, Huntsman Corporation, Kao Corporation, Kraton Corporation, and Ingevity Corporation.

Market leaders are focusing on densely populated areas with high development activity. They aim to expand their supplier networks in emerging regions and establish long-term contracts. Additionally, they are investing in research and development to introduce innovative products that comply with regulations.

For instance, in 2021, Kao Corporation launched NEWTLAC 5000, an asphalt additive made from recycled plastics, known for its durability and oil resistance.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=4413

Segmentation of Asphalt Additives Industry Research

By Type :
Anti-strip
Bitumen Emulsifiers
Asphalt Cement Additives
Polymer Modifier
Fillers and Fibers
Rejuvenators
Other
By Technology :
Warm/Hot Mix
Cold Mix
By Application :
Road Construction
Runways and Parking Lot
Roofing Sector (Asphalt Shingles)
Other
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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