Australia Asphalt Additive Market Outlook

australia’s asphalt additive market is estimated to reach us$ 130 million in 2018. this represents a significant increase in demand from 2017, where the market stood at around us$ 75 million. the asphalt additive market in australia is estimated to witness healthy growth over the forecast period of 2018 to 2032. this growth will be driven by increasing population and industrial development, improved road infrastructure and the government’s policy initiatives to enhance road safety. demand for asphalt additive products in australia is high due to the increasing use of oil and gas products in highway construction projects. these products are used in order to increase the strength, sturdiness, and durability of the highways. various types of asphalt additives are used in australia, such as polymer additives, fiber-reinforced additives, liquid asphalt emulsion, and derivatives. climate-specific requirements and occupancy restrictions are also driving the demand for asphalt additive products. the government of australia is undertaking several initiatives to improve the infrastructure and network of highways and expressways, which is likely to have a positive effect on the asphalt additive market in the country. various states in australia have declared major investments in road construction and rehabilitation. this is expected to boost the demand for asphalt additives in the country, as they are necessary for road construction and maintenance. apart from government initiatives, the growing demand for road repair and rehabilitation projects is also expected to boost the asphalt additive market in australia. the market is estimated to grow in the coming years due to increased government spending on roads and new expressways. the major players in the asphalt additive market in australia are makers & suppliers of bitumen additives, road stabilization products, construction grade asphalt inhibitors, and other asphalt and road-construction materials. several major companies are based in australia and manufacture asphalt additives and related products. thus, the asphalt additive market in australia is expected to witness steady growth over the forecast period, driven by initiatives taken by the government, the increasing investments in infrastructure projects, and the growing demand for road repair and rehabilitation works. organized processes and state-of-the-art technologies used for asphalt manufacturing will also play a major role in driving the market forward.