Asphalt Additives Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028
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Asphalt Additives Market |
Asphalt is a type of asphalt additive that is mixed with
other concrete ingredients to make asphalt concrete. An asphalt additive is
used as an adhesive in road building. The asphalt additives are also utilised
as waterproofing materials. Asphalt additives lower the cost of the pavement's
life cycle, including stripping, cracking, permanent deformation, ravelling,
and thickness.
The market size is anticipated from 2018 to 2028, with 2019
as the base year for the analysis. The asphalt additives market will be driven
by factors such as rising demand in the Asia-Pacific region, rise in the food
and beverage and healthcare industries, and increased consumer awareness of
health in the future years. The report's base year is 2019 and its projection
period is 2020 to 2028.
Heavy investments in the construction industry to fulfil the
growing demand for industrial and residential infrastructure in the BRICS
countries are likely to improve overall demand in those countries, complementing
the worldwide Asphalt
Additives Market. Sporting events such as the 2016 Summer Olympics in
Brazil and the 2018 FIFA World Cup in Russia are projected to spur construction
growth and demand for asphalt additives. The global industry is likely to
benefit from an increase in government road construction projects in developed
economies. Furthermore, the advantages of environmental benefits over other
traditional additives are likely to aid worldwide demand growth throughout the
foreseeable period. Asphalt additives, such as cold-mix additives, release low
to no harmful emissions when compared to other additives. The recent shift to
bio-based additives like bio-asphalt binder and lignifame is projected to open
up a large market.
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