Global Asphalt Additives Market Report and Forecast 2024-2032

Global Asphalt Additives Market Outlook

The global asphalt additives market is expected to grow at a CAGR of 6.7% during the period 2024-2032.

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The Global Asphalt Additives Market Likely to be Driven by Rising Traffic Volumes and Infrastructure Development Projects

The global market for asphalt additives is expected to be driven by novel construction projects. Rising traffic volumes and emphasis on environmentally friendly infrastructure development approaches are likely to further increase demand for bitumen/asphalt additives. North America, Europe and Asia are projected to be key markets.

Different types of asphalt additives are employed to enhance the performance of Warm Mix.  Amide waxes, montan waxes, low Fischer-Tropsch (FT) paraffin, and zeolites are generally used as additives. Warm Mix Asphalt (WMA) and associated technologies were introduced to decrease greenhouse gas emissions by lowering the mixing and compaction temperatures of asphalt mix. WMA became popular with the environmental benefits it offered without reducing the quality, properties and performance of the asphalt mix. WMA is manufactured at considerably lower temperatures (a little over 100 degrees C), which results in lesser consumption of energy, lower emissions, reduced ageing, decreased mixing and compaction temperatures, cool weather paving and better mix workability. Several of these benefits are linked to additive use in WMA. Additives may enable better WMA performance as compared to Hot Mix Asphalt (HMA) approaches. WMA technologies largely concentrate on the binder (bitumen) by incorporating additives to enhance its properties.

Organic WMA additives (such as natural or synthetic waxes and fatty amides) decrease bitumen viscosity and enhance workability. Paraffin waxes are commonly employed additives to increase flow and quality of binder. Paraffin waxes may either be naturally occurring bituminous waxes or synthetic waxes. Sasobit by Sasol is an example of industrially synthesized wax that is quite effectual in WMA. Lowering binder viscosity, Sasobit modifies flow in the mix and enables free movement of aggregates. After cooling, Sasobit crystallizes and creates an even network in the binder. Licomont BS 100 (a fatty acid amide) by Clariant is another organic additive that decreases binder viscosity.  Asphaltan B (a mix of wax extracted from lignite and fatty acid amides) by Romonta GmbH is another additive that reduces asphalt binder viscosity.

Chemical additives are among emergent WMA technologies. These help in enhancing the capability of the asphalt binder to coat the aggregate particles instead of decreasing binder viscosity. Chemical additives include emulsions and surfactants that function at the binder’s microscopic interface to control and lessen frictional forces within a temperature range (generally 85-140 degrees C). Evotherm by Ingevity and Rediset by Nouryon (earlier Akzo Nobel) are examples of commonly used chemical additives.

Advances in Rejuvenator Segment Expected to Stimulate Growth

Asphalt additives called rejuvenators (bio-based additives extracted from agricultural raw material) have exhibited the potential to facilitate higher proportions of recycled asphalt pavement (RAP) in road mixes. Advancements in the rejuvenator segment are expected to boost the market. Cargill and Hardrives have been engaged in the testing of a plant-based product – Anova - in partnership with the Minnesota Dept. of Transportation and its MnROAD test facility, and with the National Center for Asphalt Technology at Auburn University in Alabama.

The Illinois Tollway, the agency operating and maintaining toll roads in the state of Illinois, is testing rejuvenators to enhance RAP percentage capable of being used in roads while maintaining performance. One such rejuvenator is ReLIXIR by Sripath Technologies. The bio-oil based solution has been reported to be on the approved list for 60% of US states; it has also been used in India, Australia and New Zealand.

Global Asphalt Additives Market Segmentation

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By type, the market is segmented into:

• Polymerized Asphalt Cement
• Novophalt
• Multigrade Asphalt Cement
• Polyester Modifier
• Others

By application, the market is divided into:

• Road Construction
• Road Paving
• Airport Runway
• Parking Lots
• Roofing
• Others

By region, the market is classified into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Key Industry Players in the Global Asphalt Additives Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Cargill, Inc.
• Evonik Industries AG
• Honeywell International Inc.
• The Dow Chemical Company
• Arkema S.A.
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report