Industry Background:
Asphalt is a Mixture of Aggregates, Filler & Binder That Finds its Usage in the Construction of Roads, Parking Areas, Railway Tracks, Ports, Airport Runways, Bicycle Lanes, Sidewalks & Also Play &Sport Areas. Polymeric Modifier is Used with Asphalt to Improve the Flexibility & Durability of Asphalt for Various Construction Projects. Addition of Modifier Results in Improved Load Resistance, With Less Thermal Cracking & Overall Improved Mixture Durability. Usage of Polymeric Modifier Causes Reduction in the Amount & Severity of Pavement Distresses & Increase in the Service LifeThis growth is primarily driven by Need for Superior Construction Material in the Construction of High Traffic Roads for Extending the Life of Roadways & Meeting Definite Design Specifications
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Construction Materials sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as DuPont (United States), BASF SE (Germany), ExxonMobil (United States), Evonik Industries (Germany), Arkema SA (France), Nynas AB (Sweden), Nouryon (Netherlands), Honeywell International Inc. (United States), Kraton Corporation (United States) and Arrmaz (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2022, DuPont announced an agreement to sell a majority of its Mobility and Materials division to Celanese. To maximize shareholder value, DuPont will execute the previously announced sale of M&M in two transactions. Includes over 80% to be sold to Celanese.
In August 2021, Nynas breaks new ground for low-carbon roads. The polymer modification extends the useful life of the roadway, and this product development allows us to deliver all the benefits of PMB and more without increasing our carbon footprint.The Market for the Asphalt Polymeric Modifier is Fragmented with the Presence of Many Players. Leading Players Can Adopt Strategies Like a Merger, Acquisition, Expansion, New Product Launch, in Order to Gain Share Within the Market. Owing to Booming Industrialization & Urbanization, there are Growing Prospects for the New Players to Enter the Market
Influencing Trend:
The Surge in the Research & Development Activities for Incorporating Nanotechnology in Asphalt Modification
Market Growth Drivers:
Need for Superior Construction Material in the Construction of High Traffic Roads for Extending the Life of Roadways & Meeting Definite Design Specifications and The Rise in the Construction of Airports, Race Tracks, & Government Projects, Owing to Urbanization & Increased Investment in the Construction Sector
Challenges:
Occupational Health Hazard Linked With Asphalt May Pose a Challenge
Restraints:
Fluctuations in the Price of Raw Materials
Opportunities:
There are Prospects for the Growth of Asphalt Polymeric Modifiers, Owing to the Rise in the Infrastructure Development Projects in Growing Like India, China, & Brazil and There is an Increased Opportunity for Market Expansion, Due to Surging Usage of Asphalt in Roofing Applications
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Asphalt Polymeric Modifier Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Asphalt Polymeric Modifier Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Asphalt Polymeric Modifier players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Asphalt Polymeric Modifier Study Sheds Light on
The Asphalt Polymeric Modifier Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Asphalt Polymeric Modifier industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Asphalt Polymeric Modifier industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.