Global Asphalt Additives Market 2017-2021

Overview of the global asphalt additives market

Market research analysts at Technavio predict that the global asphalt additives market will grow steadily during the next four years and post a CAGR of close to 7% by 2021. This market research analysis identifies the increasing demand for polymers as additives and modifiers as one of the primary growth factors for this market. Due to the various advantages offered by polymers including rutting resistance, reduced thermal cracking, enhanced moisture damage, and stripping resistance, they have found significance in various applications including waterproofing and pavements. With the deterioration of pavements and membranes and the rising need to increase the load bearing capacity of pavements, the coming years will witness a considerable increase in the demand for polymer-based additives and modifiers, in turn, fueling market growth.

One of the latest trends that will gain traction in the asphalt additives market in the coming years is the use of cyclic borate ester as an additive. The use of cyclic borate ester increases the hardness, flash-point value, softening point, and viscosity of asphalt and also resists the rutting of asphalt binders. Additionally, cyclic borate ester also increases the aging resistance of asphalt without compromising on the cohesion property. Owing to such factors, cyclic borate delivers a high-performance, which will subsequently drive its adoption in the next few years.

Competitive landscape and key vendors