Asphalt Additives Market Growing at 3.80% CAGR Will Hit 5420 Million US$ in 2025
Los Angeles, CA -- (SBWire) -- 04/17/2019 --Asphalt additives are substances added to asphalt to modify characteristic properties of asphalt binder. Primary reason for adding additives to asphalt is to increase the functional temperature range of asphalt. Viscosity of asphalt decreases at high temperature and increases drastically at low temperature. This hinders the usage of asphalt in roads, pavements, airfields, and parking lots made of asphalt. Usage of additives helps overcome this shortcoming. Additives are also used to enhance the binding property of asphalt by strengthening the asphalt aggregate bond. Furthermore, additives improve the film thickness of asphalt, thus preventing cracking, raveling, and deformation. This, in turn, reduces maintenance cost of asphalt-constructed structures. There are different types of asphalt additives. However, varieties that are primarily used include asphalt rubber, polymers, and chemical modifiers. Fibers and fillers are also used as additives in asphalt.
The technical barriers of asphalt additives are relatively high, resulting in high level concentration degree. The manufacturing bases scatter around the world, mainly concentrating in Korea, China, Japan and USA. The key companies in asphalt additives market include. Evonik, Kraton, DuPont, Arkema, Sinopec, LCY CHEMICAL CORP. In 2015, the demand for asphalt additives in all regions is leveling off. The demand for these products will grow steadily.
In the past few years, the price of asphalt additives decreased and we expect the price has pressure to increase in short time with new capacity released. However, the improvement of energy, transportation costs, employee wages, and equipment depreciation will play a significant role in promoting the cost of asphalt additives. Therefore, to some extent, the companies face the risk of profit decline.
The global Asphalt Additives market was 4010 million US$ in 2018 and is expected to 5420 million US$ by the end of 2025, growing at a CAGR of 3.8% between 2019 and 2025.
This report studies the Asphalt Additives market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Asphalt Additives in these regions, from 2014 to 2025, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil etc.)
Middle East and Africa (Egypt and GCC Countries)
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include
Evonik
Kraton
DuPont
Arkema
Dow Chemical
Akzo Nobel
Huntsman
Berkshire Engineering Supplies
ArrMaz
Kao Corporation
Engineered Additives
BASF
Sonneborn
Honeywell
Ingevity
LUCOBIT
Sinopec
LCY CHEMICAL CORP
Jiangsu Jinyang
Zibo bridge lung
By the product type, the market is primarily split into
Asphalt Modifier
Antistripping agent
Asphalt emulsifier
Surfactant additives
Foam stabilizer
Others
By the end users/application, this report covers the following segments
Road construction & paving
Roofing
Others (Including airfields, parking lots, drinking water enclosures, waste disposal sites, and bridge decks)
Key Regions split in this report:
North America
Asia-Pacific
Europe
Central & South America
Middle East & Africa
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