Asphalt Additives Market Analysis Current Trends and Sales Forecast Till 2023
Asphalt additives are substances added to asphalt to modify characteristic properties of the asphalt binder. Key reason for adding additives to asphalt is to increase the functional temperature range of asphalt. Viscosity of asphalt decreases at high temperature and increases drastically at low temperature. This hinders the usability of asphalt in roads, pavements, airfields, and parking lots constructed of asphalt. Usage of additives overcomes this shortcoming of asphalt. Additives are also used to enhance the binding property of asphalt by strengthening the asphalt aggregate bond. Furthermore, additives improve the film thickness of asphalt, thus preventing cracking, raveling, and deformation. This reduces the maintenance cost of asphalt-constructed structures.
Asphalt additives are of different types. However, primarily used varieties are asphalt rubber, polymers, and chemical modifiers. Fibers and fillers are also used as additives in asphalt. Polymer additives are categorized into two types: plastomers (plastics) and elastomers (rubbers). Elastomers are generally used in hot and cold road construction and paving applications. Elastomers enhance tensile strength, strain recovery, temperature susceptibility, adhesion, and cohesion properties of asphalt. On the other hand, plastomeric polymers are useful to impart low strain tensile strength, high modulus, and temperature susceptibility. Asphalt rubber additives are added to asphalt by both cold mix and hot & warm technology. Different types, grades, and sizes of rubber additives are used depending on the modifications required. Styrene-butadiene rubber is the most widely used rubber asphalt additive. Chemical modifiers that are used as asphalt additives generally include ant stripping agents, extender oils, strong acids, and strong bases. Usage of additives in asphalt is increasing substantially especially due to increasing popularity of warm mix asphalt technology.
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Hot mix & warm mix additives and cold mix additives are two major technologies implemented in the asphalt additives market . However, implementation of hot mix & warm mix additives technology dominates the market. Extensive usage of hot mix technology in developing regions and increasing popularity of warm mix technology in developed economies are expected to drive growth of hot mix & warm mix additives during the forecast period.
In terms of demand, road construction & paving is the major application segment of the asphalt additives market, accounting for over 80% share in 2014. However, roofing is another application segment of the asphalt additives market. This segment is projected to experience steady growth during the forecast period due to increase in the number of nuclear homes in North America and Europe.
Asia Pacific was the largest regional market in terms of demand and accounted for over 30% share of the global asphalt additives market in 2014. Middle East & Africa is likely to be the fastest-growing regional segment of the asphalt additives market in the next few years. The buoyant construction industry in the Middle East & Africa is anticipated to witness strong growth due to increase in expenditure on construction activities. This is projected to chiefly drive the asphalt additives market in the near future.
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Moderate degree of backward integration is observed in the asphalt additives value chain. There exist large number of equally balanced competitors with strong brands and competitive market share. Key market players include ArrMaz, Arkema Group, Akzo Nobel N.V., Kraton, Kao Corporation, Honeywell International Inc., Evonik Industries AG, E. I. du Pont de Nemours and Company, The Dow Chemical Company, Berkshire Engineering Supplies, Huntsman Corporation, Engineered Additives, LLC, and Terex (E.A.) Ltd.
Table of Content
2. Executive Summary
3. Asphalt Additives Market– Industry Analysis
4. Price Trend Analysis
5. Asphalt Additives Market – Technology Analysis
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