The market is driven by factors such as high-traffic-volume, heavy loads on roads and highways, economic slowdown resulting in deferred infrastructure maintenance, growing emphasis on meeting super-pave asphalt binder specifications, increased pavement work-life, and reduced MRO cost advantages. However, the market faces certain drawbacks, namely the high initial cost of using modified asphalt cement and the occupational health hazards resulting from the use of asphalt.
The global asphalt modifiers market report considers the following major modified asphalt application areas: paving, roofing, and others. The market has also been divided according to the modifier type into physical modifiers, chemical modifiers, fibers, adhesion improvers, extenders, fillers, antioxidants, anti-strip modifiers, and others. The market in the physical modifiers segment has been further segmented into plastics, rubbers, and others. This segment accounted for the majority of consumption in the global asphalt modifiers market in 2015.
The global asphalt modifiers market has been geographically segmented by consumption into Asia-Pacific, North America, Europe, South America, and the MEA. The regions have further been bifurcated into countries. Asia-Pacific accounted for over 30% of the global share of the asphalt modifiers market. The market in this region is expected to grow at a CAGR of over 6.8%, during the forecast period, owing to the increasing number of construction activities in developing economies such as China and India. China led the APAC market in 2015, with a share of over 50% of the regional asphalt modifiers market. The reasons include increased focus of the government on infrastructure development, growing foreign investment in the construction industry owing to the availability of cheap labor, and favorable government policies in the country. Europe and North America followed the APAC region, with a share of XX. XX% and XX.XX%, respectively. The Middle-East & Africa region is expected to register a significant growth in the coming years, owing to the increased government, as well as, private expenditure on construction projects.
Opportunities & Major Players
The increasing preference for hot mix asphalt (HMA) as a replacement for traditional concrete, the growing emphasis on incorporating nanotechnology in asphalt modification (Nano-clay), advancements in warm-mix asphalt technologies, and the development of bio-renewable modifiers, are expected to offer major growth opportunities for the players in the global asphalt modifiers market.
Some of the major companies profiled in the report are -
Market analysis for the global asphalt modifiers market, with region specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global asphalt modifiers market on both global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
1.2 Research Methodology
1.3 Scope of the Study
2. Executive Summary
3. Global Asphalt Market Overview
4. Market Insights
4.1 Industry Value Chain Analysis
4.2 Regulatory Policy
4.3 Industry Attractiveness Porters Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Degree of Competition
5. Market Dynamics
5.1.1 High Traffic Volume and Heavier Loads on Roadways
5.1.2 Deferred Infrastructure Maintenance
5.1.3 Emphasis on Meeting Super-pave Asphalt Binder Specifications
5.1.4 Increased Pavement Work-life and Reduced MRO Cost Advantages
5.2.1 High Initial Cost of Using Modified Asphalt Cement
5.2.2 Occupation Health Hazards Regarding Asphalt
5.2.3 Increasing popularity of Concrete and Gypsum as an Alternative for Asphalt
5.3.1 Increasing Preference for HMA (Hot Mix Asphalt)
5.3.2 Growing Popularity of Reclaimed Asphalt Pavement (RAP)
5.3.3 Development of Bio-renewable Modifiers
5.3.4 Advancement in Warm Mix Asphalt Technologies
5.3.5 Research for Incorporating Nanotechnology in Asphalt Modification (Nano-clay)
6. Market Segmentation and Analysis (Market Size, Growth and Forecast)
6.1 By Modified Asphalt Application
6.2 By Product Type
6.2.1 Physical Modifiers
6.2.2 Chemical Modifiers
6.2.4 Adhesion Improvers
6.2.8 Anti-strip Modifiers
6.3 By Raw Material
7. Regional Analysis (Market Size, Growth and Forecast)
7.1.4 South Korea
7.1.5 Australia & New Zealand
7.1.6 ASEAN Countries
7.1.7 Rest of Asia-Pacific
7.2 North America
7.2.1 United States
7.2.4 Rest of North America
7.3.4 United Kingdom
7.3.5 The Nordic Countries
7.3.6 Rest of Europe
7.4 South America
7.4.3 Rest of South America
7.5 The Middle East and Africa
7.5.1 Saudi Arabia
7.5.2 South Africa
7.5.4 Rest of the MEA
8. Future of the Asphalt Modifiers Market
9. Competitive Landscape
9.1 Mergers & Acquisitions
9.2 Joint Ventures, Collaborations and Agreements
9.3 Market Share Analysis
9.4 Strategies Adopted by Leading Players
9.5 Vendor-Product Matrix
10. Company Profiles (Overview, Financials, Products and Services and Recent Developments)
10.1 Akzo Nobel N.V.
10.2 Arkema Inc.
10.4 BASF SE
10.5 Cargill Inc.
10.6 E. I. Du Pont De Nemours & Company
10.7 Engineered Additives LLC
10.8 Eurovia Services GmbH
10.9 Evonik Industries Corporation
10.10 ExxonMobil Chemical
10.11 Genan Holding A/S
10.12 Honeywell International Inc.
10.13 Kao Corporation
10.14 Kraton Performance Polymers Inc.
10.15 McAsphalt Industries Limited
10.16 PQ Corporation
10.17 Romonta GmbH
10.18 Sasol Ltd.
10.19 The Dow Chemical Company