Asphalt Additives Market Share

APAC Market Forecast

Asia Pacific industry is predicted to dominate majority revenue share of 33% by 2037. Demand for airport construction is rising in the region due to various factors such as increasing mobility of people and goods. Airports connect people from places where it’s impossible to reach by other transportation means. These projects will increase demand for polymer modifiers, emulsifiers, chemical modifiers, and asphalt additives rejuvenators.

According to the Centre for Aviation, there are around 228 known infrastructure projects of airport construction listed in Asia Pacific which are valued at USD 227 billion. Additionally, rapid growth in the industrial and commercial sectors has increased the need for robust road infrastructure, further propelling the market. These combined factors have solidified Asia Pacific's position as the leader in the asphalt additives market.

The concrete performance with low pavement rutting and moisture-induced damage is improved by using asphalt additives during construction in China. According to a recent report, the country has exported USD 31.2 million Bitumen and asphalt in 2022.

Japan’s government started making huge investments in the construction of national highways and expressways. For instance, the total investments made in public roads for construction and maintenance was around USD 42,88,12,65,070 in 2019.

North American Market Statistics

The asphalt additives market in North America is anticipated to grow significantly by the end of 2037. As a result of growing industrialization, which enables rapid transport of raw materials and finished goods, the need for efficient road haulage has increased. According to Cencus.gov, around USD 483.1 billion was spent in March for public construction in the region. The demand for asphalt additives will be driven by the need to make roads and highways more efficient.

Government organizations that support these additions, such as the Environmental Protection Agency (EPA) and European Chemicals Agency (ECHA), have put in place a number of rules and regulations that have aided in the expansion. These factors are predicted to drive the growth of the asphalt additives market.

The demand for improved characteristics of traditionally constructed materials in the United States is increasing with a view to improving their durability.

The market in Canada is growing as a result of rising automotive ownership and government spending on infrastructure construction. According to Statistique Canada, the total number of road motor vehicles registered in 2022 in Canada was 26.3 million, edging up 0.3% from 2021.