Asphalt Modifiers Market Size and
Growth Rate:
According
to the Research Report by Research
Cosmos, the global asphalt
modifiers market was estimated at USD 2,849.51 million in 2018. This market
is anticipated to reach USD 4,148.850 million by 2024, at aCAGR of 6.70% over
the projected period from 2018 to 2023.
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research report developed on Asphalt Modifiers Market @ https://www.researchcosmos.com/reports/asphalt-modifiers-market/84475084v
Asphalt Modifiers Market Overview:
The
market is driven by circumstances such as high-traffic-volume, large loads on
roads and highways, economic slowdown happening in deferred infrastructure
maintenance, increasing emphasis on engaging super-pave asphalt binder
specifications, raised pavement work-life, and reduced MRO cost improvements.
Nevertheless, the market faces certain drawbacks, specifically the high initial
cost of using qualified asphalt cement and the occupational health hazards occurring
from the use of asphalt.
Fillers
are largely used as asphalt additives because of their ability to improve the
resistance of aggregates within the mixing matrix. The types of substances used
as modifiers include dust from grinding and screening of grosses, slaked lime,
carbon black, fly ash, Portland cement, and other metal fillers. The use of
these materials, especially carbon black, is beneficial to the durability, the
wear protection and the temperature susceptibility of the mix.
Asphalt Modifiers Market Growth
Drivers and Restraints:
The
growing preference for hot mix asphalt (HMA) as a replacement for conventional
concrete, the growing emphasis on including nanotechnology in asphalt
modification, improvements in warm-mix asphalt technologies, and the growth of
bio-renewable modifiers, are expected to offer major growth possibilities for
the players in the global asphalt modifiers market.
The
global asphalt conditioners market report considers the following primary
modified asphalt utilization areas: paving, roofing, and others. The market has
also been classified according to the modifier type into environmental
modifiers, chemical modifiers, tissues, adhesion improvers, extenders, fillers,
antioxidants, anti-strip conditioners, and others. The market in the physical
modifiers section has been further divided into plastics, rubbers, and others.
This section accounted for the majority of consumption in the asphalt modifiers
market in 2016.
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Asphalt Modifiers Market Geographical
Insights:
In
2018, the Asia-Pacific region controlled the market share. This trend is
anticipated to continue during the projection period, owing to the growing
demand from the infrastructure and development in countries such as Taiwan,
India, and Japan. The building industry in China is experiencing a significant
development on account strategic-level actions taken by the government. The
13th plan of China, opened in 2016, was pivotal in the transformation of
China’s manufacturing, procurement, and construction industry, which occurred
in the development of new business models in China’s domestic and foreign
endeavors. In 2016, the construction business in China achieved 18% growth,
which was an increase of 6% from 2015.
The
growing preference for hot mix asphalt as a replacement for conventional
concrete, the increasing emphasis on incorporating nanotechnology in asphalt
modification, and the development of bio-renewable modifiers, are anticipated
to offer major growth possibilities for the players in the global asphalt
modifiers market.Asia-Pacific region rule the market share and is anticipated
to continue during the foreseen period, owing to the
growing demand from the infrastructure and development in countries such as
Taiwan, India, and Japan.
Key Players of the Asphalt Modifiers
Market:
- Akzo Nobel N.V.
- Arkema Group
- ArrMaz
- BASF SE
- Cargill Inc.
- DowDuPont
- Engineered Additives LLC
- Eurovia Services GmbH
- Evonik Industries Corporation
- ExxonMobil Chemical
- Genan Holding A/S
- Honeywell International Inc.
- Kao Corporation
- Kraton Performance Polymers Inc.
- McAsphalt Industries Limited
- PQ Corporation
- Romonta GmbH
- Sasol Ltd.
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