Asia-Pacific Is The Current Leader In The World For Asphalt Modifiers Market

Date: 2016-09-18

The Asphalt Modifiers market is expanding at a CAGR of 6.2% between 2016 and 2020. Asphalt modifiers, a type of construction material, are added to asphalt or asphalt concrete to prevent the degradation and weakening of asphalt-based pavements and roofs, primarily from high temperature permanent deformation, low temperature thermal cracking, and load-associated fatigue cracking; thereby, providing the constructors/end-users with reduced maintenance costs and longer pavement lifetime advantages.

This market is driven by a number of factors, such as the current high traffic volume and heavier loads on roads and highways, economic slowdown resulting in deferred infrastructure maintenance, and the growing emphasis on meeting Super save design specifications. However, this market faces certain drawbacks, primarily the high initial cost for using modified asphalt cement and the occupational health hazards regarding asphalt.

The market has also been geographically segmented on the basis of consumption into Asia-Pacific, North America, Europe, and Rest Other. The regions have further been bifurcated into countries. Asia-pacific is the current leader in the world for asphalt modifiers, and is expected to grow at a CAGR of 6.86% during the forecast period. China led the market in the aforementioned region in 2014, owing to the increased focus by the Chinese government on infrastructure development.
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Joanna | Executive – International Business and partner Relations
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