The global asphalt additives market is set to estimate a valuation of US$ 6.1 billion in 2023 and it is anticipated to grow at a CAGR of 5.0% to reach US$ 9.9 billion by the end of 2033. Asphalt additives are added to the asphalt binder to change the properties of the final blend of asphalt used to build the top layer of a road. The kind of additive utilized depends on several variables, including the climate, the subsurface structure, and the type of road. The specifications for the relevant road are taken into account when choosing additives.
The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.
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The report offers actionable and valuable market insights of Bio Based Asphalt Additives. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Bio Based Asphalt Additives Market across various industries and regions.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Bio Based Asphalt Additives market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Bio Based Asphalt Additives
This newly published and insightful report sheds light on Market Insights of Bio Based Asphalt Additives, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Bio Based Asphalt Additives Market.
Key Segments Covered
- Type
- Anti-strip Bio Based Asphalt Additives
- Bitumen Emulsifiers Bio Based Asphalt Additives
- Asphalt Cement Additives
- Polymer Modifier Bio Based Asphalt Additives
- Asphalt Additive Fillers and Fibers
- Asphalt Additive Rejuvenators
- Other Bio Based Asphalt Additives
- Technology
- Warm/Hot Mix Bio Based Asphalt Additives
- Cold Mix Bio Based Asphalt Additives
- Application
- Bio Based Asphalt Additives for Road Construction
- Bio Based Asphalt Additives for Runways and Parking Lot
- Bio Based Asphalt Additives for Roofing Sector (Asphalt Shingles)
- Bio Based Asphalt Additives for Other Applications (Floorings, Courts, etc.)
Key Takeaways from Market Study
- By technology, warm/hot premixes to generate 30% of the total market revenue
- Road construction applications to remain prominent, expanding at around 5% CAGR
- Bio-based additives to emerge as an eye-catching trend in the global market
- U.S to remain dominant North American market, expanding at a CAGR of 6% through 2031
- Middle East & Africa to expand at around 6% CAGR, attributed to implementation of new road infrastructure projects
- India and China to emerge as dominant markets across the East & South Asian regions
“Increasing emphasis on reducing environmental impact from construction activities is prompting asphalt additive manufacturers to incorporate sustainable material, especially bio-based material, heightening growth prospects,” comments the Fact.MR analyst.
Competitive Landscape
Prominent players in the industry are Nouryon, DowDuPont, Arkema SA, Honeywell International Inc., Evonik Industries, Huntsman Corporation, Kraton Corporation, Ingevity Corporation and BASF SE (Germany), among others.
These players focus on adopting various strategies to expand product offerings and strengthen geographic presence. With the advancement in technology, new players are expected to enter the market.
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Report Benefits & Key Questions Answered
- Bio Based Asphalt Additives Company & brand share analysis: The report offers brand-share analysis on Bio Based Asphalt Additives market to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
- Bio Based Asphalt Additives Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers comparative analysis between growth trajectory exhibited in 2016-2020 and 2021-2031.
- Bio Based Asphalt Additives Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
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