The global asphalt additives market to grow at a CAGR of 6.80% during the period 2017-2021.
The report, Global Asphalt Additives Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is increasing use of asphalt emulsions. An asphalt emulsion refers to emulsified asphalt cement in water. It consists of asphalt, water, and emulsifying surfactant agent (an asphalt additive). Asphalt emulsions are used to recycle older pavements. The growing demand across countries (especially in the US) drives the market for asphalt emulsions. These emulsions reduce the time required for paving jobs and are preferred for their low cost and solid performance.
According to the report, one driver in market is furtherance of transport sector and infrastructural development. Countries across the globe still face the problem of unpaved roads that stretch for sizable distances when compared with paved counterparts. Unpaved roads account for approximately 4.3 million kilometers globally, of which the US accounts for approximately 2.1 million kilometers. Countries like China, Canada, India, Germany, and Switzerland have added their share into the bargain. This is one of the most important factors driving the global asphalt additives market as the need for paved roads would mean further consumption of asphalt (in turn asphalt additives) across the globe. The focus on urbanization and industrialization has also led to a demand for the asphalt additives. Rapid infrastructural growth in different countries across the globe demands an advancement of the transport sector as a tool for the economic development. Further, population explosion also has a role to play in the advancement of the transport sector.