Asphalt Additives Market Report Top Companies Offerings And Market By End-User Segments

Growing demand for asphalt in road construction, adherence to the latest manufacturing standards, and rapid urbanization are propelling market growth.

WILMINGTON, DE, UNITED STATES, September 25, 2024 /EINPresswire.com/ -- Allied Market Research has released a report titled, "Asphalt Additives Market by Type (Polymerized Asphalt Cement, Novophalt, Multigrade Asphalt Cement, Polyester Modifier, and Others) and Application (Road Construction, Road Paving, Airport Runways, Parking Lots, Roofing, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global asphalt additives market generated $3.6 billion in 2019 and is projected to reach $5.3 billion by 2027, with a compound annual growth rate (CAGR) of 5.1% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/595

Key Drivers, Restraints, and Opportunities:

- Drivers: Growing demand for asphalt in road construction, adherence to the latest manufacturing standards, and rapid urbanization are propelling market growth.
- Restraints: Changing regulatory environments pose a challenge to market expansion.
- Opportunities: Increased awareness of energy conservation and the need for sustainable infrastructure offer new growth avenues.

Market Segmentation Highlights:

By Type:

- Polymerized Asphalt Cement: Dominated the market with more than half of the global share in 2019. Its use in road maintenance and repair drives this segment's growth.
- Novophalt: Expected to grow at the fastest rate, with a projected CAGR of 5.9% from 2020 to 2027. Emerging urban areas in countries like China and India are spurring demand for durable road construction solutions.

By Application:

- Road Construction: Accounted for more than half of the market in 2019. Developing nations such as Brazil, China, and India are driving growth due to both new construction projects and road maintenance.
- Roofing: Expected to register the fastest CAGR of 7.1% during the forecast period, fueled by rapid urbanization in developing countries.

By Region:

Asia-Pacific (Followed by North America): Held the largest market share in 2019, representing nearly one-third of the global market. The region is expected to maintain dominance, with a CAGR of 5.6%, driven by infrastructure projects in China and India. North America is anticipated to grow at a CAGR of 5.4% through 2027.

Leading Market Players:

- Arkema Group
- Akzo Nobel N.V.
- Evonik Industries AG
- Huntsman International LLC
- Ingevity
- KAO Corporation
- Nouryon
- Sasol
- Tri-Chem Specialty Chemicals, LLC
- Berkshire Engineering Supplies
- Kraton
- BASF SE
- Engineered Additives LLC
- Delta Companies Inc.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/asphalt-additives-market/purchase-options

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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