Reports
Global Asphalt Additives Market Size, Share, Growth: By Type: Polymerized Asphalt Cement, Novophalt, Multigrade Asphalt Cement, Polyester Modifier, Others; By Application: Road Construction, Road Paving, Airport Runway, Parking Lots, Roofing, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Asphalt Additives Market Outlook
The global asphalt additives market is expected to grow at a CAGR of 6.7% during the period 2024-2032.
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The Global Asphalt Additives Market Likely to be Driven by Rising Traffic Volumes and Infrastructure Development Projects
The global market for asphalt additives is expected to be driven by novel construction projects. Rising traffic volumes and emphasis on environmentally friendly infrastructure development approaches are likely to further increase demand for bitumen/asphalt additives. North America, Europe and Asia are projected to be key markets.
Different types of asphalt additives are employed to enhance the performance of Warm Mix. Amide waxes, montan waxes, low Fischer-Tropsch (FT) paraffin, and zeolites are generally used as additives. Warm Mix Asphalt (WMA) and associated technologies were introduced to decrease greenhouse gas emissions by lowering the mixing and compaction temperatures of asphalt mix. WMA became popular with the environmental benefits it offered without reducing the quality, properties and performance of the asphalt mix. WMA is manufactured at considerably lower temperatures (a little over 100 degrees C), which results in lesser consumption of energy, lower emissions, reduced ageing, decreased mixing and compaction temperatures, cool weather paving and better mix workability. Several of these benefits are linked to additive use in WMA. Additives may enable better WMA performance as compared to Hot Mix Asphalt (HMA) approaches. WMA technologies largely concentrate on the binder (bitumen) by incorporating additives to enhance its properties.
Organic WMA additives (such as natural or synthetic waxes and fatty amides) decrease bitumen viscosity and enhance workability. Paraffin waxes are commonly employed additives to increase flow and quality of binder. Paraffin waxes may either be naturally occurring bituminous waxes or synthetic waxes. Sasobit by Sasol is an example of industrially synthesized wax that is quite effectual in WMA. Lowering binder viscosity, Sasobit modifies flow in the mix and enables free movement of aggregates. After cooling, Sasobit crystallizes and creates an even network in the binder. Licomont BS 100 (a fatty acid amide) by Clariant is another organic additive that decreases binder viscosity. Asphaltan B (a mix of wax extracted from lignite and fatty acid amides) by Romonta GmbH is another additive that reduces asphalt binder viscosity.
Chemical additives are among emergent WMA technologies. These help in enhancing the capability of the asphalt binder to coat the aggregate particles instead of decreasing binder viscosity. Chemical additives include emulsions and surfactants that function at the binder’s microscopic interface to control and lessen frictional forces within a temperature range (generally 85-140 degrees C). Evotherm by Ingevity and Rediset by Nouryon (earlier Akzo Nobel) are examples of commonly used chemical additives.
Advances in Rejuvenator Segment Expected to Stimulate Growth
Asphalt additives called rejuvenators (bio-based additives extracted from agricultural raw material) have exhibited the potential to facilitate higher proportions of recycled asphalt pavement (RAP) in road mixes. Advancements in the rejuvenator segment are expected to boost the market. Cargill and Hardrives have been engaged in the testing of a plant-based product – Anova - in partnership with the Minnesota Dept. of Transportation and its MnROAD test facility, and with the National Center for Asphalt Technology at Auburn University in Alabama.
The Illinois Tollway, the agency operating and maintaining toll roads in the state of Illinois, is testing rejuvenators to enhance RAP percentage capable of being used in roads while maintaining performance. One such rejuvenator is ReLIXIR by Sripath Technologies. The bio-oil based solution has been reported to be on the approved list for 60% of US states; it has also been used in India, Australia and New Zealand.
Global Asphalt Additives Market Segmentation
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By type, the market is segmented into:
- Polymerized Asphalt Cement
- Novophalt
- Multigrade Asphalt Cement
- Polyester Modifier
- Others
By application, the market is divided into:
- Road Construction
- Road Paving
- Airport Runway
- Parking Lots
- Roofing
- Others
By region, the market is classified into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Industry Players in the Global Asphalt Additives Market
The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Cargill, Inc.
- Evonik Industries AG
- Honeywell International Inc.
- The Dow Chemical Company
- Arkema S.A.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Application, Region |
| Breakup by Type | Polymerized Asphalt Cement, Novophalt, Multigrade Asphalt Cement, Polyester Modifier, Others |
| Breakup by Application | Road Construction, Road Paving, Airport Runway, Parking Lots, Roofing, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Cargill, Inc., Evonik Industries AG, Honeywell International Inc., The Dow Chemical Company, Arkema S.A., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Asphalt Additives Market Analysis
8.1 Key Industry Highlights
8.2 Global Asphalt Additives Historical Market (2018-2023)
8.3 Global Asphalt Additives Market Forecast (2024-2032)
8.4 Global Asphalt Additives Market by Type
8.4.1 Polymerized Asphalt Cement
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Novophalt
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Multigrade Asphalt Cement
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Polyester Modifier
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Asphalt Additives Market by Application
8.5.1 Road Construction
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Road Paving
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Airport Runway
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Parking Lots
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Roofing
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Asphalt Additives Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America Asphalt Additives Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Asphalt Additives Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Asphalt Additives Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Asphalt Additives Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Asphalt Additives Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Cargill, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Evonik Industries AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Honeywell International Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 The Dow Chemical Company
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Arkema S.A.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Asphalt Additives Market: Key Industry Highlights, 2018 and 2032
2. Global Asphalt Additives Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Asphalt Additives Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Asphalt Additives Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Asphalt Additives Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Asphalt Additives Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Asphalt Additives Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Asphalt Additives Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Asphalt Additives Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Asphalt Additives Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Asphalt Additives Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Asphalt Additives Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Asphalt Additives Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Asphalt Additives Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Asphalt Additives Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Asphalt Additives Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Asphalt Additives Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Asphalt Additives Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 6.7% between 2024 and 2032.
The major drivers of the market include the thriving building and construction industry, rising investments by the government aimed towards maintaining the roads and footpaths, rapid development of international and domestic airports, and the rising demand for high quality concrete for the longer run.
The emergence of multi housing residential construction projects across the emerging economies are the key trends guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Polymerised asphalt cement, novophalt, multigrade asphalt cement, and polyester modifier, among others are the major types of product included in the market report.
Road construction, road paving, airport runway, parking lots, and roofing, among others are the different applications of asphalt additives.
The major players in the industry are Cargill, Inc., Evonik Industries AG, Honeywell International Inc., The Dow Chemical Company, and Arkema S.A., among others.
Analyst Review
The global asphalt additives market is being driven by the rising application of the product in residential and commercial construction projects, rapid urbanisation, rising population, and increasing inclination of building contractors towards high quality concrete. Aided by the rapid investments in the development of airports, expressways, roads, and highways, among others, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6.7%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is divided into polymerised asphalt cement, novophalt, multigrade asphalt cement, and polyester modifier, among others. On the basis of application, the market is divided into road construction, road paving, airport runway, parking lots, and roofing, among others. The major regional markets for asphalt additives are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Cargill, Inc., Evonik Industries AG, Honeywell International Inc., The Dow Chemical Company, and Arkema S.A., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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