January 24, 2020

Asphalt Additives Market Growth Set to Surge Significantly during 2019-2027

The global asphalt additives market is anticipated grow at a CAGR of 5.0% over the forecast period 2019-2027. Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections of the asphalt additives market, both at global and regional levels. The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the asphalt additives market.

The asphalt additives market forecast report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period.

Increased highway life span increases demand

Extended highway life span bolsters the demand for asphalt additives like rejuvenators and bitumen. Bio-based additives like bio asphalt binders are the latest entrants in market that are generating plethora of opportunities in the global market. The asphalt additives market report highlights the following players:

  • Ingevity Corporation
  • Huntsman Corporation
  • Honeywell International Inc.
  • Kraton Corporation

The asphalt additives market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.

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The most commonly used material for paving is hot/warm mix. It is expected to dominate the global market owing to its benefits like low fuel consumption and reduced harmful emissions. Fact.MR report projects the demand for hot/warm mix to increase in Asia Pacific by 1.8 times of the current capacity in the forecast period. Its increasing consumption generates attractive opportunities for hot/warm mix additives that are expected to bring in sustainability in near future.

The competitive landscape of global asphalt additives market is moderately consolidated. Major stake holder in the market are expanding their business to get a greater hold of the market. Dow Chemical and Evonik are two of the major players in the market that are focused to expand their current facilities across the globe. Asia Pacific is their target as it offers benefits in terms of economy and opportunities to scale business.