GCC Asphalt Additive Market Outlook

gcc asphalt additive market outlook is an exceedingly viable segment of the global asphalt additives market. asphalt is the most commonly used binder for surfacing roadways and car parks, making it the most reliable choice for construction projects. to improve the asphalt properties and meet the user specifications, asphalt additives such as polymers, elastomers, anti-stripping agents, softening agents, anti-stripping agents, and polyolefins are used for the asphalt mixture. in the gcc region, the demand for asphalt additive is mainly driven by rapid infrastructure development and the increasing urban population. the transportation infrastructure is witnessing massive investments in the gcc countries as a result of the government initiatives to improve the region’s infrastructure and increase the region’s integration. with the government initiatives and shifting focus towards technical infrastructure, the consumption of asphalt additive is expected to grow substantially in the forecast period. asphalt modifications technologies such as polymer-modified asphalt, polymer-modified emulsion, and hot mix asphalt (hma) are gaining traction in the gcc region. furthermore, an influx of foreign investment from countries such as the united states, china, and india into the gcc region is expected to fuel the growth of the asphalt additive market in the region. this is likely to contribute to the increasing usage of polymer-modified asphalt, emulsions, and hot mix asphalt as they serve an extensive range of paving solutions for residential and commercial projects. the asphalt additive market in the gcc region is primarily fragmented with a fragmented share held by local players. companies such as sadara chemical company, total petroleum sa, amcol international, evonik industries, and 3m are some of the major players in the asphalt additive market in the gcc region. overall, the outlook for the gulf co-operation council (gcc) region for the asphalt additive market looks positive in the forecast period, primarily fuelled by the enormous investments in the transportation infrastructure and the thriving construction sector. in the coming years, the influx of foreign investors is expected to further drive the regional market growth.