The asphalt additives market is projected to grow from USD 3.6 billion in 2019 to USD 6.3 billion by 2029, at a CAGR of 5.7% from 2019 to 2029. Increasing developments in the Asia Pacific infrastructure market, recyclability of asphalt, development of warm-mix asphalt, and increasing use of asphalt in roofing applications is fueling the growth of the market across the globe.

Based on application, road construction & paving segment is projected to grow at the highest CAGR 

Governments of countries such as, China, India, Malaysia, and Indonesia in the Asia Pacific region have invested in infrastructure development, which includes the construction of new highways and freeways. This has led to the growth of the asphalt additives application segment.

Key Questions Addressed by the Report

• How developments were undertaken by various companies are expected to affect the asphalt additives market in the mid- to long-term?
• What are the upcoming industry applications of asphalt additives?
• What is the impact of changes in government policies on the asphalt additives market?
• What is the estimated size of the asphalt additives market in 2019?
• What are the different applications of asphalt additives?

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The Asia Pacific region was the largest market for asphalt additives in 2018

The Asia Pacific region was the largest market for asphalt additives in 2018, owing to the increasing demand for asphalt additives products in developing economies, such as India and China. China is the leading consumer of asphalt additives products in the Asia Pacific region. The huge growth and innovation, along with industry consolidations, is expected to drive the growth of the Asia Pacific asphalt additives market.

Nouryon (Netherlands), DowDuPont (US), Arkema SA (France), Honeywell International Inc. (US), Evonik Industries (Germany), Huntsman Corporation (US), Kraton Corporation (US), Sasol Limited (South Africa), Ingevity Corporation(US), Arrmaz (US), BASF SE (Germany), Kao Corporation (Japan) are some of the leading players operating in the asphalt additives market. These players have adopted the strategies of expansions, new product developments, acquisitions, and collaborations to enhance their position in the market.