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

The market is moderately competitive and is characterized by the presence of several vendors. The market’s competitive environment is inducing the key players to adopt strategies pertaining to technologies and products and M&As. Additionally, the key vendors in the market also engage in extended R&D activities where one of the vendors in the market recently introduced an asphalt additive, that resists frost damage of asphalt pavements which helped driving safety.

The leading vendors in the market are -

• AkzoNobel
• Arkema
• Dow Chemical
• Honeywell International
• Huntsman International

The other prominent vendors in the market include ArrMaz, Berkshire Engineering, DuPont, Engineered Additives, Evonik, Kao, Kraton, Sasol, and Tri-Chem Industries.

Segmentation by application and analysis of the asphalt additives market

• Roadways
• Waterproofing
• Recreation

During 2016, the roadways segment accounted for the major shares and dominated this market. Owing to the high demand for asphalt from pavement activities of unpaved roads and increased road construction activities, the demand for asphalt additives in roadways is expected to rise during the forecast period.

Geographical segmentation and analysis of the asphalt additives market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. The infrastructural growth in these regions plays a key role in fueling the demand for asphalt additives. The construction industry in the region not only fueled the demand for asphalt additives but also gave a healthy glimpse of the future of this region's asphalt additives market. Furthermore, these regions would be hosting global sports events such as the Winter Olympic Games, the Summer Olympic Games, and the Winter Olympic Games, which will further propel the demand for asphalt additives during the forecast period.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global asphalt additives market?
• What are the key market trends impacting the growth of the global asphalt additives market?
• What are the challenges to market growth?
• Who are the key vendors in the global asphalt additives market?
• What are the market opportunities and threats faced by the vendors in the global asphalt additives market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global asphalt additives market? 

Technavio also offers customization on reports based on specific client requirement.

Asphalt additives refer to substances that are added to asphalt binders to enhance the performance of asphalt in various applications like roadways, waterproofing, recreation, and agriculture. They alter the blend of hot mix asphalt. Asphalt additives increase asphalt's temperature range. The viscosity of asphalt increases with a rise in temperature and decreases with the fall in temperature. This upcoming industry research report by Technavio is an intrinsic part of the chemicals and materials industry and offers insights into niche sectors like specialty chemicals, paints, coatings, and pigments, and plastics, polymers, and elastomers. To help clients achieve traction over their peers, Technavio offers expansive knowledge on the all leading vendors and their products and services in the chemicals and materials industry.

Technavio’s team of market research analysts conduct a triangulated research approach of primary and secondary techniques and also carry out an extensive analysis of the demand-supply shifts in various markets, covering different geographical areas. To help clients devise new policies for growth, our upcoming industry research report on the global asphalt additives market for the period of 2017 to 2021 reveals deep insights construed from the data gathered from robust sources of market intelligence, such as manufacturers, channel partners, regulatory bodies, and decision makers.

This upcoming report on the global asphalt additives market also considers the growth of similar markets like asphalt and anti-reflective coatings, which are expected to grow at a CAGR of about 4% and close to 8%, respectively, by the year 2021. According to our industry research analysts, the growing transport sector and infrastructural development coupled with increasing demand for polymers as additives are the key factors augmenting the growth of the specialty chemicals industry in the coming few years. Based on the specifications of many clients, Technavio also provides customized reports, which can assist local vendors and global players ratify their positions in the chemicals and materials industry.

The upcoming industry research report on the global asphalt additives market showcases the market drivers, emerging market trends, and setbacks faced by the specialty chemicals industry and also presents a complete overview of markets like additives, adhesives, and sealants, glass and ceramics, olefins, and textile, fiber, and composites.