Allied Market Research

2024

Asphalt Modifier Market

Asphalt Modifier Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Technology and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Advanced Materials

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Author's: | Eswara Prasad
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Asphalt Modifier Market Analysis 

Asphalt modifier is the petroleum byproduct, which is one of the oldest materials used in several fields such as construction of road, waterproofing products, pavement and roofing. Asphalt modifier pavement performance is increase by the mixture of several additives such as polymers, latex, fibers and many chemicals. This amalgamation increases the durability, greater resistance for permanent deforming and prevents thermal cracking, it also increases the stiffness and decreases fatigue. The purpose of this modifiers is to bind stiffness at normal temperature and to increase rut resistance, simultaneously decrease its stiffness at low temperatures to improve its resistance of thermal cracking. Some of its bituminous polymer additives include elastomers, plastomers, Crumb Rubber (GTR), Bio binders, and non-bituminous such as antioxidants, anti-stripping agents, stiffening agents, polyphosphoric acid, and Gilsonite.

COVID-19 Impact analysis

  • Since the beginning of 2020, the construction activities were halted and maintenance work stopped due to the COVID-19 pandemic, which affected the demand for asphalt modifier.
  • During the last few months, construction projects have gained momentum across various nations since the respective governments have lifted the lockdown. For instance, according to a report by National Highway Authority of India (NHAI), construction of roads has been resumed, it is expected to increase the demand of asphalt modifiers.
  • Developing nations were strongly affected by the global pandemic, resulting in declining growth in the infrastructure and construction sector, which affected the asphalt market as well.

Top Impacting Factors

The major drivers include hot mix asphalt (HMA) pavements (traffic volume, traffic load, and tire pressure) have significantly increased in recent years, which raised the demand of hot mix asphalt since it was more resistant to rutting. Public agencies are willing to pay more on initial cost for manufacturing of pavements in order to get long durability. However, during the construction process, the bituminous components present in asphalt modifier are deposited and absorbed by the soil, thereby harming the soil environment. Pollutants from asphalt particles worn out by tires are toxic organic polycyclic aromatic hydrocarbons, which also cause water pollution. The above-mentioned factors are the restraining factor.

Market Trends

  • ULTRAPAVE the new attractive system in this market by Norris Asphalt Paving Co., and Jebro Inc., which has been introduced, as it results in Pre-coating of Aggregate, effective anti-strip agent, simple handling method, safe odor and environment-friendly.
  • ULTRACOTE is a small particle, which has a molecular structure in such a form that it allows asphalt to cling together, and their tiny size enables them to fill small cavities and weak spots in the aggregate. 
  • Superpave asphalt binding conditions are developed to meet stiffness in both hot and cold temperature so it is highly relevant in region with harsh climatic condition, which results in market demand.
  • In 1999, JK tire introduced radial technology that produce radial truck tires, which increased demand, earlier in bias-ply tires the pavement contact pressure was about 75 pounds per square inch but now it has been increased to 125 per square inch.
  • Minimized aging effects and reduced stripping and raveling are the two visco-elastic properties.
  • Depending on technology of cold mix the styrene-butadiene rubber (SBR) is modified, which is one of the highest performers of asphalt, which meets the industry standards and customer demands.
  • Technology used for making asphalt by hot mix and warm mix produces the Butonal 5126 X, Rhenofalt HP-AM, Renofalt LT-70, and Renofalt WKR-2 are also increasing demand.

Key Benefits of the Report

  • This study presents the analytical depiction of the asphalt modifier industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the asphalt modifier market share.
  • The current market is quantitatively analyzed to highlight the Asphalt Modifier market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed asphalt modifier market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the asphalt modifier Report

  • Who are the leading market players active in the asphalt modifier market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What are the driving factors and opportunities in the market?

Asphalt Modifier Market Report Highlights

Aspects Details
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By Type
  • Thermoplastic Elastomers
  • Thermoplastic polymer
  • Thermosetting polymer
  • Chemical Modifiers
  • Fiber
  • Adhesion improvers
  • Antioxidants
  • Natural asphalts
  • Fillers
  • extender
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By Technology
  • Hot Mix
  • Cold Mix
  • Warm Mix
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By Application
  • Road Construction & Paving
  • Roofing
  • Airport Construction
  • Others
    • Parking Lots
    • Bridges
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

Akzo Nobel, Nouryon, Huntsman Corporation, Kraton Corporation, ExxonMobil Corp., Arkema SA, DowDuPont, Evonik Industries, BASF SE, Kao Corporation, The Dow Chemical Company, Ingevity Corporation, Honeywell International Inc.

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Asphalt Modifier Market

Global Opportunity Analysis and Industry Forecast, 2023-2032