Global Asphalt Additives Market is Expected to Reach US$ 4.73 Bn in 2025: Transparency Market Research

ALBANY, New York, September 4, 2017 /PRNewswire/ --

Transparency Market Research has published a new report titled "Asphalt Additives (Hot Mix/Warm Mix Additives and Cold Mix Additives) Market for Road Construction & Paving, Roofing and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017-2025." According to the report, the global market for asphalt additives was valued at US$ 3.31 Bn in 2016 and is anticipated to reach US$ 4.73 Bn in 2025, expanding at a CAGR of 4.0% between 2017 and 2025. In terms of volume, the global asphalt additives market stood at 1,939.6 Kilo Tons in 2016.

Asphalt and concrete are the leading materials that are used in road construction across the world. Roads made from asphalt have the advantages of fast setting times, lower installation costs and durability. Asphalt mixes are typically made of 5-10% asphalt binder mixed with 90-95% aggregate. Aggregate materials are usually sand, gravel, stones, concrete pieces etc. Asphalt roads may suffer from stripping problems when there is a loss of bonding between the asphalt binder and the aggregate. This leads to a deterioration and unravelling of the asphalt roads. To prevent occurrence of stripping of roads, a variety of additives are incorporated into the asphalt binder. Further, several polymer additives are blended with the asphalt binder in order to increase the toughness and plasticity of the final asphalt mix. Rising popularity of polymer modified asphalt is expected to fuel demand for asphalt additives in the coming decade.

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There are three technologies that are utilized into order to mix asphalt binder with the aggregate- hot mix, warm mix and cold mix technology. Hot mix has been the dominant process for producing asphalt concrete due to its flexibility and ease of operation. However, due to the high temperatures involved in this process the amount of volatile organic content (VOC) emitted is substantially high. In keeping with climate change agreements, many countries are decreasing the use of the hot mix technology for processing asphalt mixes. Warm mixing of asphalt is carried out at a substantially lower temperature than hot mix asphalt and is hence considered environmentally-friendly. In order to promote effective mixing at low temperatures and improve performance of warm mix asphalt, additives such as adhesion promoters, anti-stripping agents and polymers such as Styrene Butadiene Styrene, Styrene Butadiene Rubber and crumb rubber are added to the asphalt mix. Cold mix technology involves emulsifying the asphalt in water in the presence of surfactant additives, prior to mixing it with the aggregate. The emulsified asphalt mixture is easy to work and compact in nature due to its lower viscosity. Growing use of warm and cold mix asphalt for producing asphalt mixtures is likely to boost demand for asphalt additives. Further, increase in the use of reclaimed asphalt (RAP) and reclaimed shingles (RAS) in asphalt mixtures is also likely to increase demand for asphalt additives as the use of a higher percentage of these recycled materials necessitates the addition of a higher amount of additives in order to maintain the desired standard performance.

In terms of demand, Asia Pacific constituted the largest share of the asphalt additives market with accounting for around a third for the market share in 2016. Stringent environmental norms in North America and Europe is expected to encourage increased use of asphalt additives in these regions. Increase in road and building construction activities in the GCC is also expected to propel demand for asphalt additives.

Key manufacturers of asphalt additives include ArrMaz, Akzo Nobel N.V., Kraton Corporation, Kao Corporation, Honeywell International Inc., Evonik Industries AG, E. I. du Pont de Nemours and Company, The Dow Chemical Company, Berkshire Engineering Supplies, Huntsman Corporation, Ceca Chemicals and Engineered Additives, LLC.

The report segments the global asphalt additives market as follows: 

Asphalt Additives Market: Technology Analysis  

• Hot mix/warm mix additives
• Cold mix additives

Asphalt Additives Market: Application Analysis  

• Road construction & paving
• Roofing
• Others (Including airfields, parking lots etc.)

Asphalt Additives Market: Regional Analysis 

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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About TMR 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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