India Asphalt Additive Market Outlook

india has been a key player in the global asphalt additive market, over the years and the demand for asphalt additives in the country is expected to continue to be on the rise over the next 14 years (2018-2032). the indian construction industry has seen a considerable boost during the last few years owing to an abundance of infrastructural projects and the investments made in transportation projects have seen a promising increase. this has resulted in a higher demand for the premium quality asphalt materials for the smooth construction, repair and maintenance of the roads and highways. asphalt additives offer the appropriate imbalance to the material which makes it more resistant to heavy automobile traffic, extreme weather conditions and also offer higher longevity. therefore, the rising demand for efficient roadways strengthens the demand of asphalt additives in india. in india, there is a high usage rate of petroleum-based asphalt additives, which are preferred for their strong binding properties and chemical nature. they offer strength and also offer protection against regular wear and tear. the growing demand for oil and gas in india has induced the development of many industries, which encourages the demand for petroleum-based asphalt additives. in addition to this, there is an increasing demand for bio-based asphalt additives which offer a lower environment impact and are compliant with the international environmental standards. the rising awareness regarding the environmental impact and increasing government regulations is pushing the india asphalt additive market in the direction of more eco-friendly solutions. moreover, rise in foreign investments in india has provided a boost to the manufacturing facilities in various sectors within the country, including construction, which is resulting in an increased usage of asphalt additives for a wide range of applications. this in turn, is driving the expansion of the india asphalt additive market in the mentioned timeframe. such ingredients act as catalyst to bind other primary components such as bitumen, reduce the shrink-swell problems and also reduce the deterioration of the surface caused by environments like the hot climate. overall, the india asphalt additive market is expected to witness an impressive growth over the period of 2018-2032 and is expected to be driven by a range of important factors. the most important of such factors include the increased investments in the construction industry, availability of superior quality materials, and the growing awareness about the environmental benefits offered by these additives.