Portland, OR -- (SBWIRE) -- 02/20/2018 -- Construction firms have initiated road development projects using high grade construction materials including asphalt additives to provide improved structural integrity and sustainability. The Asia-Pacific and LAMEA regions dominant, due to the high urban displacement. Increasing demand for asphalt roofs among construction companies involved in residential and commercial constructions poses lucrative opportunities for players in the world asphalt additives market.

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They enhance proficiency and durability of roads when used in combination with paving-grade asphalt and thus have an increasing demand across the globe. Rising demand for asphalt additives from construction industry, rapid urbanization and growing acceptance of new manufacturing standards are the major factors driving the asphalt additives industry across the world. Though, low consumer awareness and changing regulatory norms are factors that could restrain the growth of this market.

The global asphalt additives market is segmented based on geography into North America, Europe, Asia-Pacific, and LAMEA. The figure below represents the market attractiveness of different geographical segments. It is evident from the figure that the region that is most lucrative for investment is Asia-Pacific. Asia-Pacific is expected to be preferred by new entrants due to increase in road construction activities followed by rapid industrialization and growth in the real estate sector, coupled with infrastructural development especially in the emerging economies such as India, China, and Indonesia among others. The Asia-Pacific asphalt additives market is expected to reach $968 million by 2022, registering the highest CAGR of 7.4% during 2016?2022.

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ASPHALT ADDITIVES MARKET KEY SEGMENTS
By Type
Polymerized Asphalt Cement
Novophalt
Multigrade Asphalt Cement
Polyester Modifier
Others
By Application
Road Construction
Road Paving
Airport Runway
Parking Lots
Roofing
Others