Asphalt additives are chemicals or substances that are added to asphalt to modify the final outcome of asphalt binder. Asphalt additives are materials that enhance the adhesive force between aggregates and asphalt cements preventing cracking, unraveling and deformation. Asphalt additives offers various advantages such as improved pavement performance, rutting resistance, reduced thermal cracking, reduced moisture damage and stripping resistance. Asphalt additive are generally used in road surfaces, airports, parking lots, runway, roofing, road construction and road paving. Hot mix asphalt is a mixture of approximately 95% stone, sand bound together with the help of asphalt cement, which is a product of crude oil. The asphalt cement used for binding is a heated aggregate, combined, and mixed with the aggregate at a hot mix asphalt facility.
Mix designs of asphalt additives are required to determine the grade and percent of emulsion used, as well as the workability, stability, strength and moisture. Cold mix asphalt is manufactured by emulsifying the asphalt mix with the aggregates. In emulsified state the asphalt is less viscous and the mixture is easy to work even in cold temperatures. Cold mix asphalt are ideal for road repairs as they require smaller volume. They are best alternatives to the conventional hot mix, due to their long duration storage ability. The production of cold mix asphalt is relatively eco-friendly, with very low associated emissions and reduced fuel consumption. Cold mix asphalt are environmental friendly, economical, they have a control over characteristics such as set time, mix time and strength, and they provide wide choice of processes to meet paving needs such as repair, restoration and wearing courses.
Asphalt Additives Market Taxonomy
On the basis of product type, the global market is segmented into:
On the basis of function, the global market is classified into:
On the basis of application, the global market is classified into:
In construction industry, Asphalt is the most extensively used road construction and paving material, due to their durability and resilience. Asphalt additives are used for new construction as well as maintenance activities. Asphalt derivatives are used in formulating mortar admixtures and concrete. They also find application in manufacturing of gypsum, cement plasterboard and asphalt emulsions. Apart from this, asphalt is also commonly used as a waterproofing material for roofing applications. Various asphalt additives used in the construction industry include foaming agents, dispersants, deformers, grinding aids, accelerators and air entrainers.
Asphalt Additives Market Outlook – Need for Increasing Road Infrastructure to be the Major Market Driver.
Advances in bio-based additives such as bio asphalt binder and lignifame are expected to create opportunities for global asphalt additives market. Global market growth is assisted by rules and regulations implemented by Government agencies such as Environmental Protection Agency, which are favoring these additives. Harsh environmental factors such as rain or heat and excessive traffic load are hampering the global asphalt additives market growth. Poor quality of material used for construction and low awareness of performance enhancing asphalt additives are predicated to slow down the global market growth.
Rapid urbanization and requirement of new roads for modern infrastructure is considered as major market driver. Development of roads and infrastructure is one of the major factors contributing to the growth of geotextile market. . The industry is characterized by several major and minor participants. China, Japan, and India are expected to dominate the demand for asphalt additives. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. Asia Pacific is one of the major contributors in the geotextile market globally, due to active growth in the construction industry. This trend is expected to be followed over the forecast period. According to IBEF India has the second largest road network in the world and is expected to reach total revenue of USD 6.9 billion by the end of 2017. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India. This mainly attributed to various government initiatives such as Pradhan Mantri Gram Sadak Yojana (PMGSY), during which 133-km roads per day was constructed in 2016-17 and others. Rise in government projects for road construction in developing countries is expected to be a positive driver for the global market.
Asia Pacific and Middle East regions have increasing demands of asphalt additives, due to their reusable applications. Expansion in various geographies is a key strategy adopted by the major players in the asphalt additives market. IN September 2015, CalPortland completed expansion of the business in California which will add to the manufacturing capacity of the company. Evonik, Tr Chem Industries, DuPont Evalay, MeadWestvaco Corporation, Akzo Nobel, Kao Corporation, Delta Companies and Arr. Maz CalPortland, AkzoNobel N.V., Tri-Chem Industries, Ingevity, E. I. du Pont de Nemours and Company, Evonik Industries AG, Huntsman International LLC, Kao Corporation, Honeywell International Inc., ArrMaz, and The Arkema Group are the potential companies operating in asphalt additive market industry.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.