Asphalt Additives Market Is Anticipated To Grow In A Promising Manner between 2020-2027

Increase in road and building construction activities across the developing countries such as India and China drive the global asphalt additives market. WILMINGTON, DE, UNITED STATES, January 23, 2025 /EINPresswire.com/ -- Asphalt Additives Market by Type (Polymerized Asphalt Cement, Novophalt, Multigrade Asphalt Cement, Polyester Modifier, and Others) and Application (Road Construction, Road Paving, Airport Runway, Parking Lots, Roofing, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.”

Market Highlights:

- Market Size (2019): $3.6 billion

- Market Size (2027 Projection): $5.3 billion

- CAGR (2020–2027): 5.1%

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/595

Key Market Dynamics

Drivers:

- Growing demand for asphalt in the road construction industry.

- Increased compliance with modern manufacturing standards.

- Rapid urbanization fueling infrastructure development.

Restraints:

- Changing regulatory environment impacting market growth.

Opportunities:

- Rising awareness of energy conservation and sustainable infrastructure presents new growth avenues.

Segment Analysis

By Type:

- Polymerized Asphalt Cement: Dominated the market in 2019 with more than half of the total revenue. This segment is expected to retain its leadership due to its widespread application in road maintenance and repair.

- Novophalt: Anticipated to exhibit the highest CAGR of 5.9% from 2020 to 2027. Growth is driven by the rise of new urban areas in developing countries like China and India, which necessitate efficient road construction to lower maintenance costs and improve road surface quality.

By Application:

- Road Construction: Accounted for over half of the market share in 2019 and is projected to maintain dominance. Growth is fueled by new road construction and maintenance projects in countries like Brazil, China, and India.

- Roofing: Expected to register the fastest CAGR of 7.1% from 2020 to 2027, driven by urbanization in developing nations such as China and India.

Regional Insights:-

Asia-Pacific (Followed by North America):

- Held the largest revenue share (~33%) in 2019.

- Estimated to achieve the highest CAGR of 5.6% during the forecast period, driven by rapid infrastructure development and increased construction activities in countries like China and India.

- North America: Anticipated to grow at a CAGR of 5.4% from 2020 to 2027.

Key Market Players:

- Arkema Group

- Akzo Nobel N.V.

- Evonik Industries AG

- Huntsman International LLC

- Ingevity

- KAO Corporation

- Nouryon

- Sasol

- Tri-Chem Specialty Chemicals, LLC

- Berkshire Engineering Supplies

- Kraton

- BASF SE

- Engineered Additives LLC

- Delta Companies Inc

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/asphalt-additives-market/purchase-options

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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