Skip to main content

Impact of Covid-19 on Asphalt Additives Market: Applications, Trends, Growth and Global Industry Analysis

Asphalt Additives Market: Key Highlights

·         The global asphalt additives market was valued at ~ US$ 3.5 Mn in 2018, and is projected to expand at a CAGR of ~ 6% from 2019 to 2027. Emerging warm mix asphalt (WMA) technology is anticipated to augment the global asphalt additives market during the forecast period.

·         Asia Pacific was the leading region of the global asphalt additives market in 2018. The Asia Pacific asphalt additives market is estimated to continue its dominance in the global asphalt additives market during the forecast period.

Key Drivers of the Asphalt Additives Market

·         The demand for asphalt in road construction is expected to be driven by increasing environmental funding, legislative pressure to improve infrastructure, and growth in non-building construction activities, particularly in the highway & street segment.

·         The demand for paving asphalt used in highways and streets has been rising, owing to the increase in government funding and growth in highway and street construction activities.

 

Request PDF brochure

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3238

Shift in Focus Toward Bio-based Additives to Offer Attractive Opportunities

·         Bio-based additives are defined as additives made from biological sources. Increase in the need of eco-friendly additives, led by the rising trend of decreasing reliance on petroleum-based additives, has encouraged industry participants to shift toward bio-based additives.

·         Regulatory bodies have enacted guidelines regarding the commercialization of bio-based products. There has been a significant shift in the focus toward bio-based additives. Manufacturers are increasingly using eco-friendly products, owing to the rise in the awareness about the environment among consumers.

 

 

 

 

More Trending Reports

https://www.prnewswire.com/news-releases/growing-application-in-eye-disease-treatment-and-dietary-supplements-to-lay-a-red-carpet-of-growth-across-the-zeaxanthin-market-during-the-tenure-of-2020-2030-tmr-301264054.html

Availability of Alternatives for Asphalt to Hamper the Asphalt Additives Market

·         Bricks, pavers, cobblestone, concrete, permeable paving, gravel, and cement are some of the substitutes that are being increasingly used in place of bitumen. Concrete is a highly employed product in the construction and maintenance of roads.

·         The governments of several countries have been preferring the usage of concrete and cement for paving roads since the last few years. This is expected to hamper the asphalt additives market.

 

Request enquiry before buying

https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=3238

Asia Pacific Dominates the Asphalt Additives Market

·         Asia Pacific is expected to continue being a prominent market in the global asphalt additives market during the forecast period. China dominates the asphalt additives market in Asia Pacific. It is followed by India, Malaysia, Vietnam, and Indonesia in the Asia Pacific asphalt additives market.

·         In terms of consumption, Asia Pacific is followed by Europe and North America. Europe accounted for a moderate share of the global asphalt additives market in 2018. In terms of value and volume, the Rest of Europe accounted for significant share of the Europe asphalt additives market in 2018. The Czech Republic, Poland, Hungary, and Slovakia are experiencing rapid growth in road construction activities. This is anticipated to propel the asphalt additives market in the region. The asphalt additives market in Russia & CIS is estimated to expand at a rapid pace during the forecast period.

·         Middle East & Africa is likely create lucrative opportunities for the global asphalt additives market. GCC constituted a prime share of the asphalt additives market in the region in 2018.

 

Request for custom research

https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=3238

 

Top Three Players Accounted for Major Share in 2018

·         Evonik Industries, Kraton Corporation, DuPont, and The Dow Chemical Company are some of the top players in the global asphalt additives market. Global reach and focus on a wide range of end-user industries are responsible for the large share of these companies in the asphalt additives market.

·         Evonik Industries is a leading manufacturer of specialty chemicals. It offers an extensive range of products and solutions to different industries, such as agriculture, automotive, construction, food, pharma, and oil & gas. The company operates through three business segments: Nutrition & Care, Resource Efficiency, and Performance Materials. It markets its asphalt additive products under the brand names TEGO Addbit FS 725 A, TEGO Addbit DF, TEGO Addbit EK 50, TEGO Addbit F4 HB, and TEGO Addbit FS 725 AS 10.

·         DuPont focuses on expanding its product portfolio in order to meet the specific needs of its consumers. For instance, in 2015, DuPont Industrial Polymers & Packaging launched asphalt modifier grades, Elvaloy RET 5160 and 5170, to resist the effects of heavy traffic, loads, and weather. These grades can extend the durability and reliability of roads and highways, and also help in reducing road-repair costs.

 

Comments

Post a Comment

Popular posts from this blog

Tunnel Boring Machine Market: Applications, Revenue, Growth and Trends

  Tunnel boring machines are gigantic special-purpose machines, particularly used in building tunnels for roads, railways, and pipelines. These machines are long with circular cross-sections and help in boring round holes through any rock. Tunnel boring machines are intricate assemblies of several systems working in conjunction with each other. Diameter of tunnel boring machines ranges from 1 meter to 20 meters. These machines can cut clean through rocks, sometimes along with creating concrete shields around the bored tunnels. The tunnel boring machine market is largely driven by the increase in spending on road and railway infrastructure. Countries such as China, Japan, Italy, South Korea, Norway, and Germany have vast tunnel networks. The key reason is to connect major cities within the country, sometimes even international, with minimum commute time. This largely optimizes the transportation costs and connects cities to boost commerce. The other method for building tunnels is...
Post a Comment
Read more

GLOBAL WOOD COATINGS MARKET TO TOUCH VALUATION OF US$17.595 BN BY 2025 END

  The  global wood coatings market  features a highly competitive landscape owing to the presence of a plethora of companies competing against one another, notes Transparency Market Research (TMR). Top players in the wood coatings market increasingly resort to forward integration strategies to gain substantial competitive benefits, which may help them to retain their stronghold over the assessment period. Several players are also focusing on product differentiations to attract more consumers and consolidate their positions in various regions. This is especially the trend among small- and medium-scale manufacturers who find this a key strategy to gain a foothold in the wood coatings market. TMR finds that the wood coatings market is also fairly consolidated as the top four players held a combined share of nearly 60.0% in 2016. These companies are RPM International Inc., Akzo Novel N.V., PPG Industries Inc., and The Sherwin Williams Company. Of these, The Sherwin Willia...
Post a Comment
Read more

ANTHOCYANIN CONSUMPTION LEVELS TO TAKE OFF IN DEVELOPING REGIONAL MARKET

  TMR projects the  global anthocyanin market  to reach US$ 735.9 Mn by 2026. Over this period of 2018-2026, the anthocyanin market is forecast to report a CAGR of 4.6%. Among the key end use segments, the food and beverages industry is likely to lead the market in 2018. The trend is likely to remain unchanged throughout the course of the forecast period. Regionally, the North America anthocyanin market held the leading share in the global market in 2018. The global anthocyanin market exhibits the presence of several large companies. Besides this, domestic players enjoy a stronghold in regional pockets, which has rendered the market highly competitive. According to a new study by Transparency Market Research (TMR), Archer Daniels Midlands Co., Sensient Technologies Corp, Symrise A.G., and CHR Hansen A/S held nearly 50% of the global anthocyanin market in 2018, thereby registering their dominance. To sustain growth amidst the prevailing competition, the leading players...
Post a Comment
Read more