Sustained environment-friendly attributes and increasing investment in the construction industry continue to boost global asphalt additives market demand According to the award winning market research and consulting…
Asphalt Additives Market Expected to Reach US$ 5.4 Billion by 2025
Sustained environment-friendly attributes and increasing investment in the construction industry continue to boost global asphalt additives market demand According to the award winning market research and consulting firm Fact.MR, sustainability will have a larger impact on the strategies of asphalt additives manufacturers in 2021.
The market received a boost due to the recent shift towards the bio-based and recycled asphalt additives. Government and public agencies are focusing more on sustainable and recycled materials, boosting the sales for asphalt additives. Gulf countries to create ample of opportunities for recycled additives to achieve sustainability.
“The market is moderately consolidated in nature. Prominent players like Evonik and Dow Du Pont are expanding their business in Asia-Pacific to boost the sales for asphalt additives,” says a Fact.MR analyst.
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Asphalt Additives Market
Key Takeaways
- Demand for hot/warm mix is likely to surge due to its reduced emission of hazardous fumes
- Regulatory policies and regulations are influencing the sales of hot/warm mix technology
- Eco-friendly construction and sustainable qualities have increased the momentum for bio-based additives
- Prominent manufacturers are focusing their strategies on product innovation using recycled materials
- Bio-based and recycled asphalt additives to have new sales opportunities owing to the demand from construction industry
- R&D activities from the leading key players, attributed to the growth of asphalt additives.
- Bio-asphalt binders to create new opportunities, exhibits nearly of 5% CAGR growth in the upcoming years
Prominent Drivers
- Owing to the energy conservation and sustainable infrastructure, demand for asphalt additives to have a strong trajectory
- Bitumen and rejuvenators to be the lucrative segment through 2021 and beyond.
- Hot/warm mix segment demand to have a stable growth owing to the less fuel consumption.
Key Restraints
- Stalled projects and labor shortages due to the COVID-19 outbreak has disrupted the market
- Stringent environment rules and low consumer awareness likely to hinder the asphalt additives sales.
Competitive Landscape
Dow Du Pont Inc., Evonik Industries, Nouryon, BASF-LAWSUIT-95e84a04-e252-4d6e-a752-385822505523>BASF SE, Ingevity Corporation, Huntsman Corporation, Arkema SA, Honeywell International Inc., Kraton Corporation and Sasol Limited are some prominent Asphalt additives manufacturers profiled in Fact.MR’s report.
In 2018, a leading key player, Nouryon invested multi-million in the R&D activities and launched two new eco-friendly products Redicote I-249 and Redicote 75TX, paving its way in construction industry.
Prominent players are expanding their business by maintaining the M&A strategies for instance, In May 2019, Golden Gate announced its acquisition by Arkema Group.
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More Valuable Insights on Asphalt Additives Market
Fact.MR, in its new offering, presents an unbiased analysis of the global Asphalt additives market. The study divulges essential insights on the Asphalt additives market on the basis of type (anti-strip additives, bitumen emulsifiers, asphalt cement, polymer modifier, fillers and fibers, rejuvenators, and others), technology (Warm/Hot mix additives, and cold mix additives), application (road construction, runways and parking lots, roofing sector [asphalt shingles], and others), and across six major regions.
Key Questions Covered in the Report
- What will be the market outlook for the global Asphalt additives market in the forecast period?
- Which application of Asphalt additives is likely to gain momentum in the market by 2030?
- Which region is likely to be a lucrative market during the forecast period?
- What are the major advancements witnessed in the global Asphalt additives market?
- Which are the prominent Asphalt additives manufacturers?
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For More Insights – https://www.accesswire.com/632629/Sustainability-to-have-a-Bigger-Impact-on-Asphalt-Additives-Sales-in-2021-FactMR
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