Asphalt Additive Market worth $6.3 billion by 2029 | CAGR of 5.7%

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Asphalt Additive Market worth 6.3 billion by
2029

The report "Asphalt Additive Market by Type
(Polymeric Modifiers, Anti-Strip Adhesion
Promoters, Emulsifiers, Chemical Modifiers,
Rejuvenators, Fibers, Flux Oil, Colored Asphalt),
Application, Technology Global Forecast to
2029" The asphalt additive market is projected to
grow from USD 3.6 billion in 2019 to USD 6.3
billion by 2029, at a CAGR of 5.7 from 2019 to
2029. Increase in infrastructure development and
road construction projects is one of the key
factors driving the growth of the asphalt
additive market across the globe.
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Recent Developments

• In FY 2018, Nouryon (Netherlands) invested USD
  302.4 million in RD activities to expand its
  product portfolio. In 2018, the company launched
  an asphalt additive Wetfix G400. This is an
  eco-friendly asphalt additive which can work with
  both, normal and polyphosphoric acid modified
  binders. This product finds application in
  construction and paving applications.
• In February 2018, Sasol Limited (South Africa)
  celebrated the completion of the expansion of USD
  1.13 billion Fischer-Tropsch Wax Expansion
  Project (FTWEP) in South Africa. The plant is
  operated under Sasol Performance Chemicals. The
  plant offers hard waxes, medium waxes, liquid
  paraffin, and waxy oils for various industrial
  applications, including hot-melt adhesives,
  polyvinyl chloride processing, and asphalt
  applications. The plant is expected to have a
  production capacity of 137,000 tons per year.
  This expansion aims at strengthening the position
  of the company in the South Africa asphalt
  additives market.

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Key Participants
Nouryon (Netherlands), DowDuPont (US), Arkema SA
(France), Honeywell International Inc. (US),
Evonik Industries (Germany), Huntsman Corporation
(US), Kraton Corporation (US), Sasol Limited
(South Africa), Ingevity Corporation(US), Arrmaz
(US), BASF SE (Germany), Kao Corporation (Japan)
are some of the leading players operating in the
asphalt additives market. These players have
adopted the strategies of expansions, new product
developments, acquisitions, and collaborations to
enhance their position in the market.
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On The Basis Of Region
The Asia-Pacific region was the largest market
for asphalt additives in 2018, owing to the
increasing demand for asphalt additives products
in developing economies, such as India and China.
China is the leading consumer of asphalt
additives products in the Asia-Pacific region.
The considerable growth and innovation, along
with industry consolidations, is expected to
drive the growth of the Asia-Pacific asphalt
additives market.
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