Allied Market Research
Allied Market Research

Asphalt Modifier Market by Type (Thermoplastic Elastomers, Thermoplastic polymer, Thermosetting polymer, Chemical Modifiers, Fiber, Adhesion improvers, Antioxidants, Natural asphalts, Fillers, and extender,), Application (Road Construction & Paving, Roofing, Airport Construction, and Others), and Technology (Hot Mix, Cold Mix, Warm Mix): Global Opportunity Analysis and Industry Forecast, 2021–2028

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Aug 2021 | 132 Views
Author(s) : Eswara Prasad
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Asphalt Modifier Market Analysis 2021-2028

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.

Market Scope and Structure Analysis

Report Metric


Market Size Available for Years


  Base Year Considered


  Forecast Period


  Forecast Unit

  Value (USD)

  Segments Covered

  Type, Technology, Application, and Region

  Regions Covered

  North America, Europe, Asia-Pacific, LAMEA

  Companies Covered

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


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 Segments Covered


  • Thermoplastic Elastomers
  • Thermoplastic polymer
  • Thermosetting polymer
  • Chemical Modifiers
  • Fiber
  • Adhesion improvers
  • Antioxidants
  • Natural asphalts
  • Fillers
  • extender


  • Hot Mix
  • Cold Mix
  • Warm Mix


  • Road Construction & Paving
  • Roofing
  • Airport Construction
  • Others
    • Parking Lots
    • Bridges


  • North America 
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

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 from 2019 to 2028 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?
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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