- 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.
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.
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.
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.
EVA Resins & Films Market - In terms of value, the global EVA resins & films market is anticipated to expand at a CAGR of 4.5% from 2020 to 2028. Ethylene and vinyl acetate are used in the manufacture of ethylene-vinyl acetate (EVA) resins. EVA resins & films are employed in the manufacture of foams, packaging films, solar cell encapsulation, wires & cables, and hot melt adhesives. EVA with low melt index offers superior viscosity, high strength, and relative bonding and melting strength as compared to its melt index counterparts. EVA resins are primarily employed in the paper and packaging industry, owing to their superior properties such as low sealing temperature and enhanced flexibility. Furthermore, EVA resins are utilized in photovoltaic panels that are used in solar energy generation.
Tall Oil Fatty Acid Market - The global tall oil fatty acid market was valued at US$ 882.15 Mn in 2018 and is anticipated to expand at a CAGR of 4.2% during the forecast period. TOFA is obtained from crude tall oil, a by-product of the Kraft paper pulping process. Pine wood logs are the primary raw materials required for paper pro.duction; therefore, forestry products such as pine trees and other coniferous trees comprise the raw materials for crude tall oil and subsequently TOFA. TOFA is used in various end-user industries such as soaps & detergents, lubricants, fuel additives, paints & coatings, and plastics. It is used where long chain fatty acids are required. TOFA mainly comprises oleic acid and linoleic acid in almost equal proportion with trace amounts of linolenic, palmitic, and stearic acids. Oleic and linoleic acids are long chain fatty acids with 18 carbon chains. Dimer acids, alkyd resins, and fatty acid esters are the primary intermediate chemicals of TOFA. These are further processed for applications in end-user industries.
Asphaltene Inhibitors Market - The global asphaltene inhibitors market witnessed significant growth in 2017. This trend is estimated to continue during the forecast period. Middle East & Africa holds a significant share of the global asphaltene inhibitors market. Growing oil and gas drilling activities in the region are anticipated to augment the demand for asphaltene inhibitors in Middle East & Africa during the forecast period. Middle East & Africa is a hub for oil production across the world. The asphaltene inhibitors market in North America is anticipated to witness moderate growth during the forecast period, owing to increasing expenditure on oil drilling activities by the federal government of U.S. Rising demand for fuel in developing economies in Asia Pacific such as China and India is likely to propel the demand for asphaltene inhibitors in the region in the next few years. In Latin America, demand for asphaltene inhibitors market is anticipated to remain moderate during the forecast period.
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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