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Global Asphalt Additives Market Overview and Analysis of Evonik, Kraton, DuPont, Arkema, Dow Chemical, Akzo Nobel, Huntsman, Berkshire Engineering Supplies, ArrMaz, Kao Corporation, Engineered Additives, BASF, Sonneborn, Honeywell and more

Asphalt Additives are substances that are added to asphalt to improve its performance and durability. They can range from polymers to emulsifiers, binders, stabilizers and other ingredients. Asphalt Additives are used to increase the viscosity of asphalt, reduce its temperature sensitivity, improve its resistance to water and aging, improve its adhesion, reduce its susceptibility to rutting, reduce its sensitivity to stripping, and improve its overall performance.

The global asphalt additives market size was valued at USD 1.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2021 to 2028. The market is primarily driven by the increasing demand for quality road construction and maintenance. Growing construction activities, particularly in emerging countries, is expected to remain a key driving factor. Moreover, increasing government initiatives to improve road infrastructure are expected to further drive the demand for asphalt additives over the forecast period.

In addition, the growing demand from the real estate sector is expected to further boost the demand for asphalt additives. Increasing investment in the construction of green buildings and infrastructure is likely to create lucrative opportunities for the industry. Furthermore, technological advancements in asphalt additives with improved performance are expected to further drive the market in the coming years.

The global Asphalt Additives market was valued at US$ 4690.2 million in 2022 and is anticipated to reach US$ 6319.8 million by 2029, witnessing a CAGR of 4.3% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

A detailed market research report on Global Asphalt Additives Market available at: https://www.themarketreports.com/report/global-asphalt-additives-market-research-report

This report aims to provide a comprehensive presentation of the global market for Asphalt Additives, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Asphalt Additives.

The major global companies of Asphalt Additives include Evonik, Kraton, DuPont, Arkema, Dow Chemical, Akzo Nobel, Huntsman, Berkshire Engineering Supplies, ArrMaz, Kao Corporation, Engineered Additives, BASF, Sonneborn, Honeywell etc. In 2021, the world’s top three vendors accounted for approximately % of the revenue.

Ask for more details or sample of this report at: https://www.themarketreports.com/report/ask-your-query/1410871

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Shirish Gupta

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