The global asphalt additives market is on the rise backed by increasing environmental concerns and the need to maintain asphalt pavements for sustainable development.
Albany, NY -- (SBWIRE) -- 05/12/2017 -- With a prime focus on some major regions, a latest study describing the overall market for asphalt additives finds that the market has grown tremendously in the recent past globally, due to increase in government investment for the infrastructural development. As per the latest findings, the global asphalt additives market is on the rise backed by increasing environmental concerns and the need to maintain asphalt roadways for sustainable development. To explore the major factor and trends in this market, a study titled "Global Asphalt Additives Market 2017-2021" has been freshly added to the online repository of Market Research Hub (MRH). The report covers the market landscape and its growth projections in the upcoming years. Major regions centered in the report include APAC, Americas and EMEA.
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Asphalt additives are the specialty chemicals that are added to impart additional benefits such as reduction in stripping, raveling, cracking, costs, and deformations. They are specifically added during construction of roads, sidewalks, airports and parking lots. Heavy investments in the construction industry to meet rising industrial and residential infrastructure demand is expected to drive overall demand for these additives. As per the expert's findings, the global asphalt additives market is poised for strong growth at a CAGR of 6.80% during 2017 to 2021.
Initially, the report highlights the market landscape, covering its size and forecast. Analysts have studied that Asphalt additives are materials that enhance the adhesive force between aggregates and asphalt cement. It enhances the performance of asphalt in various applications like roadways, waterproofing, recreation and agriculture. They are also used for improving pavement performance through reduced moisture-induced damage and pavement rutting, this led to the increase in demand for such additives worldwide. The inclusion of asphalt additives not only enhances the performance of asphalt but also proves to be a realistic and reasonable solution to global vendors of asphalt in the market. The leading players in the market are focusing on entering new markets by expanding their production capacities and launching technologically advanced products for road construction, and paving and roofing. This is likely to drive the asphalt additives market in the future.
The report further segments the market on the basis of its application and geography. By application, it covers, roadways, waterproofing, recreation and others. Due to the various advantages offered by polymers which are used as additives; including rutting resistance, reduced thermal cracking, enhanced moisture damage and stripping resistance, they have found significance in various applications including waterproofing and pavements.
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In the further section, the report identifies the major market dynamics impacting the market growth including, drivers, trends, challenges and opportunities. 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. Development of warm mix additives is also a major market trend.
Key vendors profiled in this study are AkzoNobel, Arkema, Honeywell International, Dow Chemical and Huntsman International.
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