Global Asphalt Additive Market Outlook

global asphalt additive market outlook in 2018 is optimistic. with growing number of roadways and infrastructure projects underway, the outlook for asphalt additive market has improved significantly. asphalt additives are products that modifies the properties of asphalt binder, usually consumed in much lower proportion as compared to the asphalt binder. they are mainly utilized to improve the ability of asphalt to resist cracking and adhesion. generally, it is consumed at a ration of 2 to 5 percent of its total weight on the asphalt. asphalt additives are available in 2 types i.e ethylene vinyl acetate (eva) copolymer and styrene-butyl styrene (sbs) block copolymer. eva type uses ethylene vinyl toconsume as a softener and sbs type uses stryene-butadiene-styrene type as a softener. various governments are increasing expenditure on infrastructure, development of highways and roadways is resulting in an increased usage of asphalt. the rising demand for asphalt with improved performance is driving the demand of asphalt additives. this increasing demand of asphalt additive is expected to remain robust throughout 2032. moreover, increasing acceptance of asphalt additives in various applications including roads, airports and others is further fuelling its demand. price of the asphalt additives is quite competitive and is projected to witness single-digit increases during the next decade. companies are also investing heavily on research and development activities to develop cost effective products with improved performance. on the other hand, rising environmental concerns due to the usage of asphalt and its emission of volatile organic compounds may restrain the growth of the asphalt additive market. additionally, fluctuating crude oil prices is anticipated to have an adverse affect on asphalt additive market across the globe. to conclude, increasing expenditure on roadways and infrastructure projects across various countries is likely to drive the demand for asphalt additive from 2018 - 2032. however, stringent environmental regulations and fluctuating prices of crude oil could rise as potential challenges in the foreseeable future.