The report presents an in-depth assessment of the Global Asphalt Modifiers including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Asphalt Modifiers investments from 2019 till 2024.
The market for asphalt modifiers is anticipated to register a CAGR of 6.73% during the forecast period (2019-2024).
The Global Asphalt Modifiers market is highly competitive and consists of a number of major players. Companies like Nouryon, Arkema Inc., ArrMaz, BASF SE, Cargill Inc., DuPont, Engineered Additives LLC, Eurovia Services GmbH, Evonik Industries Corporation, ExxonMobil Chemical, Genan Holding AS, Honeywell International Inc., Kao Corporation, Kraton Performance Polymers Inc., McAsphalt Industries Limited, PQ Corporation, Romonta GmbH, Sasol Ltd, Dow Chemical Company among others.
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Scope of the Report:
Asphalt is manufactured from the distillation of crude oil, during the process of petroleum refining. The major characteristics of asphalt include adhesion, waterproofing, and thermoplastic durability, among others. High traffic volume and heavier loads on roadways, deferred infrastructure maintenance, emphasis on meeting super-save design specifications, increased pavement work-life, and reduced MRO cost advantages are expected to drive the demand for the market, during the forecast period.
– High initial cost for using modified asphalt cement and occupation health hazards regarding asphalt are likely to hinder the market growth..
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Key Market Trends:
Increasing Demand from Paving Application
– Asphalt concrete mixture has been an important construction material for roads, airport runways, taxiways, bicycle paths, etc. Modifiers, such as binder modifiers (such as polymers, elastomers, fibers, rubber) and aggregate modifiers (such as lime, granulated rubber, anti-strip agents) are used to improve the performance of asphalt pavements, in terms of increased resistance to pavement distresses, such as thermal cracking, rutting, stripping etc., thereby prolonging the service life.
– In the recent years, the global demand for asphalt modifiers has been witnessing an above average growth. The demand for asphalt modifiers has a direct correlation with the level of ongoing road construction activities around the world.
– The gradual changes in the way mobility and transportation are consumed are expected to be witnessed, over the coming decades. By 2030, annual passenger traffic is expected to exceed 80 trillion passenger-kilometers, approximately a 50% increase from 2016. Global freight volumes is likely to grow by 70%, and an additional 1.2 billion cars are expected to be on the road by 2050. Therefore, to meet the additional demand, improvements in road transport network and up-gradation activities of highway infrastructure are expected to occur during the forecast period, thereby boosting the demand for asphalt modifiers.
– Major cities across the world are seeing an expansion in bicycle share programs, complementing the growing use of bicycles for commuting. China, in particular, has seen an expansion in bike sharing in the recent years, with Shanghai serving as home to more than 450,000 shared bikes. This is affecting the demand for urban roads, which are being retrofitted with cycle lanes, as well as seeing the development of major new bike thoroughfares for commuting (such as the cycle super highways in London).
– Highways also need to be increasingly retrofitted, or developed, with high occupancy vehicles lanes, in order to encourage ride-sharing or car-pooling. This trend is expected to drive the demand for asphalt pavements, in turn, driving the demand for asphalt modifiers.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Global Asphalt Modifiers Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
Finally, Global Asphalt Modifiers Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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