Asphalt Additives Market is Forecasted to Reach US$3.4 Billion in 2031, Says Stratview Research

Detroit, July 28, 2025 (GLOBE NEWSWIRE) -- The global asphalt additives market is projected to witness a growth rate of 4.3% annually from 2024 to 2031, with an anticipated size of US$3.4 billion by 2031, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global asphalt additives market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

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Market Statistics

Segment Insights on the Asphalt Additives Market:

The report dives deep into the segmentation of the asphalt additives market based on critical parameters:

Based on Application Type –

• The asphalt additives market is segmented into road construction, parking lots, roofing, and other applications. Road construction is estimated to contribute a larger share of the asphalt additives market. The increasing number of new road construction projects is being fuelled by federal and state governments, especially in developing economies, and there is a strong demand for road maintenance and preservation from developed economies. Furthermore, there has been an increasing penetration of road asphalt with additives over unmodified asphalts. Traffic volume loads and tire pressures have substantially increased over the past few decades, leading to demand for modifiers for longer service life and better maintenance of road pavements.
• Parking lots are expected to remain the fastest-growing application of the market by 2031. Subgrade conditions and traffic load or intensity are key considerations for parking lot asphalt mix thickness. Strong growth potential with increasing traffic intensity leading to the construction of new parking lots, especially in emerging economies.

Based on the Technology Type –

• The market is segmented into hot mix, warm mix, and cold mix based on the technology type. Hot mix is estimated to remain the widely used technology of the market by 2031. Key driving factors for hot mix asphalt are cost-effectiveness, weather resistance, versatility, strength, durability, high flexibility, and malleability. Polymer additives have a significant share in the hot mix technology.
• Warm-mix asphalt is gaining traction because it is superior to hot-mix asphalt in reducing carbon and fume gas emissions and creating safer work environments. There has been a growing interest in warm-mix asphalts, mainly due to their sustainability and similar performance level to hot-mix asphalt. North America is the world’s largest market for warm-mix asphalts, whereas Asia-Pacific is the largest market for hot-mix asphalt.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the Asia-Pacific is expected to remain the largest market for asphalt additives during the forecast period. This growth outlook is majorly attributed to the following:

• Asia-Pacific is expected to remain the largest market, with China, Japan, and South Korea being the leading markets in the region. Strong demand exists from new road pavement projects and pavement preservation/maintenance in the Asia-Pacific region.
• There is also a huge whitespace opportunity from developing Asian economies, such as India, where additive penetration in the asphalt industry is very low.

Likewise, North America is expected to remain the second-largest market during the forecast period. The region is the world’s largest market for warm mix additives, with a strong desire to reduce emissions and improve a sustainable working environment. Key players: Arkema, Ingevity Corporation, Nouryon, Kraton Corporation, Cargill Incorporated, and Honeywell International Inc.

Asphalt Additives Market Drivers:

Some of the key drivers listed in the report are given below.

• Expected increase in hot and warm mix asphalt production.
• Increase in new government-funded road maintenance
• projects.
• Expected increase in FAA airport improvement program (AIP) grants issued for airfield improvement projects.
• Stricter government regulations are aimed at reducing emissions and energy consumption.
• Increasing investments in road construction, repair, and expansion projects.
• Advancements in asphalt technology such as polymer-modified binders and performance-enhancing additives.

Top 5 Companies in the Asphalt Additives Market:

The market is highly fragmented, with over 100 global and regional players. Different players have leadership positions in various regions and different additive product types. Kraton Corporation and Ingevity Corporation have a strong leadership position in North America, whereas Arkema holds a leading position in the European market. Stratview Research has identified the following companies as the top market players:

• Kraton Corporation
• Ingevity Corporation
• Arkema S.A.
• Nouryan Chemicals B.V.
• Kao Corporation

What Deliverables Will You Get in This Report?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Liquid-Applied Roofing Market

• Cement Additives Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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