The global asphalt additives market is currently valued at more than USD 3,170 million and is expected to surpass USD 4,140 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global asphalt additives market, under its specialty chemicals portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like AkzoNobel, Arkema, Dow Chemical, Honeywell International, and Huntsman International.
According to Ajay Adikari, a lead analyst for specialty chemicals research at Technavio, “The global market is currently experiencing a rise in the demand for asphalt additives with regard to the application of eco-friendly products for paving and waterproofing. Additives used for hot and cold mix asphalts offer eco-friendly characteristics. For example, the inclusion of asphalt additives in cold mix asphalt minimizes the requirement of high temperatures for the construction of pavements and membranes.”
Asphalt additives also reduce emissions and fumes that are discharged during the production and application of asphalt. Furthermore, environment-conscious consumers prefer innovative organic additives as they provide crack resistance and reduce susceptibility to moisture, odors, and fumes during the paving process, thereby facilitating eco-friendly operations.
Increasing use of asphalt emulsions
Asphalt emulsions are used to recycle older pavements. These emulsions reduce the time required for paving jobs and are preferred for their low cost and reliable performance. Asphalt emulsions are expected to emerge as the fastest growing material segment among other asphalt components by 2019. The growth of this material segment is likely to be driven by the increasing global demand for recycling of bridges and highways.
Development of warm mix additives
Warm mix additives make it possible to reduce the manufacturing temperature of crumb-rubber-modified asphalt (CRMA) mixtures without compromising on the engineering properties. The use of warm mix additives in CRMA pavement mixtures has demonstrated eco-friendly characteristics. Increasing awareness about the benefits that these additives offer is expected to increase their application, leading to the overall growth of the global asphalt additives market.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Asphalt Additives Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Potassium Nitrate Market 2017-2021
- Global Barytes Market 2017-2021
- Global Flocculants Market 2017-20
To read more press releases – click here