The global asphalt additives market is projected to be valued at approximately US$ 6.1 billion in 2023, with expectations of growing at a compound annual growth rate (CAGR) of 5.0%, reaching US$ 9.9 billion by 2033.

Asphalt additives are incorporated into asphalt binders to modify the properties of the mixture used in the upper layers of roads. The choice of additive is influenced by factors such as climate, roadbed structure, and road type. Additives are selected based on the specific requirements of the road being constructed.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
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Country-wise Insights

In the United States, over 2.2 million miles of roads are paved, with more than 94% utilizing asphalt surfaces.

Rising traffic congestion is causing the degradation of key roads and highways, prompting government agencies to invest in infrastructure projects aimed at improving road conditions. This has opened up new opportunities for asphalt additive manufacturers to meet growing demands.

The U.S. asphalt additives market is expected to grow at a compound annual growth rate (CAGR) of 6.0% over the forecast period, driven by these infrastructure initiatives.

Category-wise Insights

Hot/warm mix asphalt is the leading paving material in the asphalt market. By incorporating warm mix asphalt additives, producers can lower the temperatures required for mixing and applying asphalt, which helps reduce greenhouse gas emissions and fuel consumption.

These additives are gaining popularity in both developed and developing nations due to rising awareness about pollution prevention. Consequently, the use of asphalt additives as desiccants is expected to grow at a CAGR of 5.4% throughout the forecast period.

Read More: https://www.factmr.com/report/4413/asphalt-additives-market

Competitive Landscape

Key manufacturers in the asphalt additives market include BASF SE, Nouryon, Dow, Arkema SA, Honeywell International Inc., Evonik Industries, Huntsman Corporation, Kao Corporation, Kraton Corporation, and Ingevity Corporation.

Market leaders are focusing on densely populated areas with high development activity. They aim to expand their supplier networks in emerging regions and establish long-term contracts. Additionally, they are investing in research and development to introduce innovative products that comply with regulations.

For instance, in 2021, Kao Corporation launched NEWTLAC 5000, an asphalt additive made from recycled plastics, known for its durability and oil resistance.

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Segmentation of Asphalt Additives Industry Research

• By Type :
• Anti-strip
• Bitumen Emulsifiers
• Asphalt Cement Additives
• Polymer Modifier
• Fillers and Fibers
• Rejuvenators
• Other
• By Technology :
• Warm/Hot Mix
• Cold Mix
• By Application :
• Road Construction
• Runways and Parking Lot
• Roofing Sector (Asphalt Shingles)
• Other
• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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