Bitumen Additives Market Insights and Forecast -2027
Bitumen additives are substances used to enhance properties of bitumen to provide a workable product. Initially, raw bitumen possesses very high viscosity, which doesn't enable it to be used in its raw form. So, bitumen additives are added into it which enhances its different significant properties such as high heat requirement, emulsification, resistance against distress, enhance constructability, improve traffic loading, reduce the overall cost involved in the creation of pavements, and many more. There are three major technologies (based on operational temperatures) by which bitumen additives are added and mixed with raw bitumen which includes hot mix, warm mix, and cold-mix technologies.
COVID-19 Scenario Analysis
- Temporary shutdown of infrastructure and construction activities due to COVID-19 pandemic may hamper the growth of the Bitumen additives market as bitumen additives act as binder particles for mineral material to form asphalt concrete coating increasing the durability of constructing materials.
- In addition, high volatility in prices of petroleum-based products during the pandemic has led to a price hike of raw bitumen which ultimately increases the price of bitumen additives, and hence the bitumen additives market may experience a downfall in demand.
- However, owing to its superior characteristics as waterproofing and mineral material binding agents the demand for bitumen additives may thrive post-COVID-19 scenario due to the expansion of several infrastructures and construction-based projects in developing countries like China and India.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The bitumen additives market has witnessed significant growth in the fields of construction and infrastructure due to several construction projects of highways, inter-state linked roads and also the international road expansion projects like CPEC (China Pakistan Economic Corridor) where bitumen additives are extensively used as binder particles for mineral material forming asphalt coating which increases the durability of roads. Moreover, technological advancements in additives and polymer-based industries also provide new opportunities for the key players of the bitumen additives market to increase the workability and production rates very easily. However, the price fluctuations of bitumen in the global market due to the high price dynamics of crude oil may hamper the growth of the bitumen additives market. Conversely, the expansion of infrastructure activities in developing countries like India, China, Pakistan, Iran, Afghanistan, and many others will create lucrative opportunities for bitumen additives market during the forecast period.
New technology to flourish the market
In June 2020, BASF has introduced a new bitumen additive named B2LAST which prevents the thermal cracking of roads relatively at extreme hot and cold regions of different parts of globe and also imparts other significant properties like more load-bearing capacity as compared to that of conventional bitumen and asphalt-based roads. The use of a new B2LAST additive also reduces the emission levels of bitumen during road construction and reducing the operating temperature range from 160-180 degree Celsius to 135-145 degrees Celsius respectively. This will provide new opportunities for the bitumen additives market in the road construction sectors to experience wide growth.
Key benefits of the report
- This study presents the analytical depiction of the global bitumen additives market industry along with the current trends and market estimation to determine the imminent investment pockets.
- The report represents information related to key drivers, restraints, and opportunities along with a detailed analysis of the bitumen additives market share.
- The current market is quantitatively analyzed to highlight the bitumen additives market growth scenario.
- The report provides a detailed market analysis depending on competitive and how the competition will take shape in the coming years.
- This report helps users in comprehending the key product segments and their future.
Questions answered in the global bitumen additives market research report:
- Which are the leading players active in the global bitumen additives market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What should be the response of the bitumen additives market players amid the COVID-19 pandemic?
- What are the projections for the future that would help in taking further strategic steps?
- What is the outlook of the industry?
- What are the emerging key segments in the bitumen additives market?
- What are the major changes and assessments in bitumen additives market dynamics?
Bitumen Additives Market Report Highlights
| Aspects | Details |
 By Product |
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 By Mixing Technology |
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 By Application |
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 By Region |
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 Key Market Players | AkzoNobel N.V, Croda International Plc, DowDuPont Inc., Huntsman International LLC, Honeywell International, Berkshire Engineering, ArrMaz, Evonik Industries AG, Kraton Corporation, Kao Corporation |
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