Asphalt Additives Market is predicted to reach USD 6.9 billion at a CAGR of 7.20% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global Asphalt Additives Market” that contains information from 2018 to 2032. The Asphalt Additives market is estimated to register a CAGR of 7.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Asphalt Additives market— ARKEMA GROUP, Akzo Nobel N.V., Evonik Industries AG, Honeywell International Inc., Huntsman International LLC, Ingevity, KAO Corporation, Nouryon, SASOL, and Tri-Chem Specialty Chemicals, LLC,

Market Highlights

The global asphalt additives market is accounted to register a CAGR of 7.20% during the forecast period and is estimated to reach USD 6.9 Billion by 2032.

Growing infrastructure spending in China, India, Malaysia, and Indonesia is one of the main factors propelling the Asia Pacific asphalt additives market. The expansion of public infrastructure development projects for better transit and increased connectivity between important economic centers in these nations can be ascribed to the increase in government spending on infrastructure in the Asia Pacific region. The Indian government increased the amount it spent on constructing roads and bridges. According to the India Brand Equity Foundation, the Indian government has apparently begun to focus heavily on the infrastructure sector.

Segment Analysis

The global asphalt additives market has been segmented based type, application and technology.

On the basis of type, the market is segmented into polymeric modifiers, anti-strip and adhesion promoters, emulsifiers, chemical modifiers, rejuvenators, fibers, flux oil, colored asphalt, and others. In 2022, the polymeric modifiers segment dominated the world market. This market segment's growth is attributable to asphalt pavements' exceptional stiffness, strength, enhanced flexibility, and durability.

Based on application, the global asphalt additives market has been segmented into road construction & paving, roofing, airport construction, and others. The global market for asphalt additives was dominated in 2022 by the segment for road construction & paving. A few of the factors that harm roadways include wear and tear, rain, temperature extremes, and frost.

Based on technology the market is segmented into hot mix, cold mix, and warm mix in 2022, the hot mix category was the market leader worldwide. Hot mix asphalt has a long lifespan and is immune to moisture damage and thermal cracking.

Regional Analysis

The global asphalt additives market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe asphalt additives market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The asphalt additives market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World asphalt additives market comprises of Middle East, Africa, and Latin America.

From 2023 to 2032, the North American asphalt additives market is anticipated to experience rapid expansion. The U.S. economy is supported by a large network of infrastructure, including ports, highways, bridges, electricity grids, and internet connections. As traffic volume increases, major highways and roads deteriorate. Traffic is brought on by the rapid deterioration of US roads. To address this issue, the government is funding a number of transit infrastructures.

Moreover, in 2022, the Europe asphalt additives market held a sizable market share. The enormous investments made by multinational firms in the high development potential economies of the region are a crucial factor offering fantastic opportunities for the Europe asphalt additives market. Due to rising government spending on infrastructure projects and rising auto ownership, the industry is expanding.

Additionally, in 2022, this market was dominated (by 45.80%) by the Asia Pacific asphalt additives market. Both new road pavement projects and pavement preservation/maintenance are urgently needed in the Asia-Pacific region. A large whitespace opportunity also exists in emerging Asian economies like India, where additive penetration in the asphalt industry is still fairly low. In addition, the Indian Asphalt Additives market had the quickest rate of growth in the Asia-Pacific region, while China's Asphalt Additives market had the biggest market share.

Furthermore, the rest of the world's asphalt additives market is divided into the Middle East, Africa, and Latin America. The demand for asphalt additives is rising in Latin America and Middle East Africa due to infrastructure development and road maintenance projects. These regions are adopting advanced additives to enhance pavement performance and durability.

Key Findings of the Study

• The global asphalt additives market is expected to reach USD 6.9 Billion by 2032, at a CAGR of 7.20% during the forecast period.


• The Asia Pacific asphalt additives market dominated this market in 2022 (45.80%). In the Asia-Pacific area, there is a significant need for both new road pavement projects and pavement preservation/maintenance.


• Based on type, the polymeric modifiers segment dominated the global market in 2022.


• ARKEMA GROUP, Akzo Nobel N.V., Evonik Industries AG, Honeywell International Inc., Huntsman International LLC, Ingevity, KAO Corporation, Nouryon, SASOL, and Tri-Chem Specialty Chemicals, LLC