(MENAFN- America News Hour)
Kenneth Research recently added a report on the Global Asphalt Additives Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.
Download Sample PDF of this Report: –
It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
The global Asphalt Additives market was valued at USD 17.40 billion in 2016 and is projected to reach USD 24.77 billion by 2025, growing at a CAGR of 4.0% from 2017 to 2025.
Asphalt additives belong to the class of chemical compounds that are added to asphalt binder to alter the physical characteristics of the final product. The increasing number of highway projects worldwide is expected to boost market demand for asphalt additives. The growing usage of bitumen is expected to be a major threat to market growth.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Growing consumption in the construction industry
1.2 Recyclability of asphalt
2. Market Restraints
2.1 Presence of large number of substitutes
2.2 Price volatility of asphalt
Market Segmentation:
The global Asphalt Additives marketis segmented on the basis ofproduct, application, technology, and region.
1. By Product:
1.1 Anti-strip and Adhesion Promoters
1.2 Polymeric Modifiers
1.3 Chemical Modifiers
1.4 Emulsifiers
1.5 Others
2. By Application:
2.1 Roofing
2.2 Airport Construction
2.3 Roofing,
2.4 Paving & Road Construction
2.5 Others
3. By Technology:
3.1 Warm Mix
3.2 Cold Mix
3.3 Hot Mix
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. EI Du Pont De Nemours
2. AkzoNobel NV
3. Arkema SA
4. Evonik
5. Honeywell International
6. Sasol Limited
7. DOW Chemical Company
8. Ingevity Corporation
9. Arrmaz
10. Kraton Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Asphalt Additives marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
Get a Sample PDF Report Here –
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Contact Us
Kenneth Research
Email :
Phone: +1 313 462 0609
Mason Mount
Mason Mount is is an energetic and versatile freelance writer for 5 years, he pens down any type of article and web content. He is a Cambridge University Business English Certificate (Europe Level) holder. He is analytical, enthusiastic, and ingenious, with the essence to work variously, strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily posses.
MENAFN23062022004545010068ID1104419407
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.