- The escalating demand from the construction industry and the growing government projecting regarding infrastructure development are expected to bring immense growth prospects for the global asphalt additives market between 2019-2027
- The asphalt additives market is prognosticated to expand at a CAGR of ~6 percent during the forecast period of 2019-2027
ALBANY, N.Y, Dec. 2, 2020 /PRNewswire/ -- Urbanization, industrialization, and globalization are fluttering their wings across various regions. This aspect may prove to be a great growth prospect for the asphalt additives market during the forecast period of 2019-2027. The utilization of asphalt in road construction and roofing are increasing to a great extent. This aspect has led to an increased demand for asphalt, thus escalating the growth rate of the asphalt additives market.
Asphalt additives are materials added to asphalt for changing the properties of the asphalt binder. The addition of asphalt additives increases the temperature range of asphalt. An additive also assists in preventing cracking by thickening the bond between the binder and the aggregate. This property of the asphalt additives makes it one of the most preferred products in the infrastructure and construction sector.
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As per the researchers at Transparency Market Research (TMR), the global asphalt additives market is extrapolated to record a CAGR of ~6 percent across the forecast period of 2019-2027. The global asphalt additives market was valued at ~US$ 3.5 mn in 2018.
Sustainability may bring expansive growth prospects for the asphalt additives market. The demand for eco-friendly asphalt additives is increasing day-by-day in the road construction and paving industry. This aspect may bring promising growth for the asphalt additives market. The road construction industry is increasingly observing a surge in the demand from developing economies like India and China. This aspect may serve as a growth multiplier for the asphalt additives market.
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Asphalt Additives Market: Transparency Expert Diagnosis
The analysts at Transparency Market Research advise the manufacturers in the asphalt additives market to accelerate product innovation through intense research and development activities. The increasing consumer awareness about UHI and the swift growth of the paving and road construction sector may invite lucrative growth opportunities for the asphalt additives market as per the opinion of the TMR experts.
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Asphalt Additives Market: Major Findings
- The warm/hot mix segment acquired a large share of the asphalt additives market in 2018
- The warm/hot mix segment may maintain its dominance across the forecast period of 2019-2027
- The cold mix segment held a considerable share of the asphalt additives market in 2018
- The polymerized asphalt cement segment accounted for a leading share of the global asphalt additives market in 2018
- The multigrade asphalt cement segment acquired a prominent share of the asphalt additives market in 2018
- On the basis of volume and value, the road construction and paving sector segment was the leading segment of the global asphalt additives market in 2018
- The asphalt additives market is expected to expand at the same pace during the assessment period of 2019-2027
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Asphalt Additives Market: Growth Accelerators
The demand for recycled and bio-based additives is increasing substantially. This aspect may offer exceptional growth opportunities for the asphalt additives market.
- High investments in the construction sector may help the asphalt additives market to gain a prominent growth share
- The utilization of asphalt additives in airports, parking lots, and road surfaces may further bring promising growth for the asphalt additives market
Asphalt Additives Market: Regional Prospects
Asia Pacific dominated the global asphalt additives market in terms of growth-contribution in 2018. The asphalt additives market in Asia Pacific is prognosticated to gain promising growth during the assessment period of 2019-2027. The asphalt additives market in Europe observed moderate growth in 2018 and is estimated to record stable growth for the asphalt additives market during the forecast period.
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Global Asphalt Additives Market: Segmentation
- Warm/Hot Mix
- Cold Mix
- Polymerized Asphalt Cement
- Multigrade Asphalt Cement
- Polyester Modifiers
- Road Construction & Paving Sector
- Roofing Sector
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Concrete & Asphalt Cleaners Market - Based on product type, the global concrete & asphalt cleaners market can be segmented into ph-neutral cleaners, acidic cleaners, alkaline cleaners, enzymatic/bacterial cleaners, and specialty cleaners. The ph-neutral cleaners are mild cleaners. These are majorly used for interior sealed asphalt and concrete surfaces and can be used to clean unsealed exterior surfaces if no major stains are there. Acidic cleaners are used majorly for stains for acid-soluble solutions. These are used for cleaning efflorescence stain on concrete surfaces. Alkaline cleaners are used to remove and clean grease, oil, or any hydrocarbon stains on asphalt and concrete surfaces. High alkalinity of alkaline cleaners enables them to emulsify oil concentration on the surface thereby removing the stain from the surface. Alkaline cleaners are also used as neutralizing agents after acid cleaning of surfaces. The enzymatic/bacterial cleaners use active enzymes or genetically engineered bacteria for cleaning protein-based, hydrogen-based, or starch-based stains from surfaces. Specialty cleaners use specific type of cleaners designed for specific type of stains or contaminations.
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