Asphalt Additives Market 2024 - By Size, Trend Analysis, Leading Players And Global Forecast To 2033
Overview and Scope The asphalt additives refer to chemicals or substances that are added to asphalt to change the result of the asphalt binder. Asphalt additives are materials that improve the adhesive force between aggregates and asphalt cement preventing cracking, unravelling, and deformation. Asphalt additives include ethylene vinyl acetate, latex, styrene-butadiene styrene-block (SBS) copolymer, and manganese organic complex, SBS vulcanized with asphalt, polyethylene, and carbon black. Sizing and Forecast The asphalt additives market size has grown rapidly in recent years. It will grow from $3.98 billion in 2023 to $4.38 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to government investments in transportation infrastructure, expansion of the transportation network, rise in infrastructure rehabilitation projects, economic growth, rise in construction sector. The asph...