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LONDON, GREATER LONDON, UNITED KINGDOM, June 6, 2025 /EINPresswire.com/ -- The Business Research Company’s latest report explores market drivers, trends, regional insights, and provides market sizing and forecasts through 2034
Asphalt Additives Market have seen a sturdy growth in recent years and are projected to continue growing from $4.35 billion in 2024 to $4.78 billion in 2025, implying a compound annual growth rate CAGR of 9.8%. This growth can be attributed to government investments in transportation infrastructure, expansion of the transportation network, infrastructure rehabilitation projects, burgeoning economic growth, and a surge in the construction sector.
What's The Anticipated Market Size Of The Asphalt Additives Industry?
Experience strong growth, the asphalt additives market size is expected to catapult to $6.98 billion in 2029 at a compound annual growth rate CAGR of 9.9%. The rise during this forecast period can be attributed to increasing road construction and maintenance activities, growing industrialization, rapid urbanization, extreme weather conditions, and aging infrastructure. Furthermore, the forecast period will also witness major trends including nanotechnology in additives, performance-grade binders, polymer-modified asphalt, warm mix asphalt wma, and the increase in the use of recycled materials.
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What Factors Will Drive The Growth Of The Asphalt Additives Market?
An upsurge in road construction projects is projected to propel the market growth. Roads play a pivotal role in economic development and offer significant social advantages. Asphalt additives ensure that the roads constructed are of quality and durable. For instance, India built 13,298 kilometers of roadways in FY21, despite the pandemic hurdles, according to the India Brand Equity Foundation IBEF. Therefore, an increase in road construction projects will likely further fuel the asphalt additives market.
Which Player's Of The Industry Are Controlling The Market?
Key players in the global asphalt additives market include Arkema S.A., ArrMaz Products Inc., BASF SE, Evonik Industries AG, Huntsman Corporation, Nouryon Holding B.V., Sasol Limited, China Petroleum & Chemical Corporation., Solvay SA, and Jiangsu Jinyang Group Co. Ltd., among others.
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What Are The Latest Trends In The Asphalt Additives Market?
Bio-based asphalt additives are shaping the industry, with rubber usage witnessing ample benefits in the pavement sector, such as improved workability. In February 2024, for example, US-based chemical company Shrieve launched the PROGILINE ECO-T organic asphalt additives. This additive improves adhesion between aggregates and bitumen, enhancing durability and compensating for lower quality materials.
How Is The Asphalt Additives Market Segmented?
The market is segmented by type, technology, and application. Types include polymeric modifiers, anti-strip, and adhesion promoters, emulsifiers, chemical modifiers, rejuvenators, fibers, flux oil, colored asphalt. The technology is broken down into hot mix, cold mix, warm mix, and the applications include road construction, road paving, airport runway, parking lots, roofing.
How Is The Asphalt Additives Market Performing Across Different Regions?
Asia-Pacific was the largest region in the asphalt additives market in 2024 and is expected to be the fastest-growing region in the market. The report covers all regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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