Asphalt Modifiers Market Size Forecast to Reach $4.8 Billion by 2026
Asphalt modifiers market size is forecast to reach US$4.8 billion by 2026, after growing at a CAGR of 5.7% during 2021-2026. This growth is attributed to the accelerating demand of adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt modifiers from the boosting infrastructure sector due to its rigid properties. In addition, the increased use of asphalt modifiers in roofing applications is also expected to drive the need for asphalt modifiers during the forecast period. Increased use of the bio asphalt mixture and concrete as a replacement, however, is expected to impede the development of the demand for adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin based asphalt modifiers. Similarly, the production and commercialization of environmentally friendly recyclable asphalt could provide market players with a lucrative opportunity. COVID-19 Impact Supply lines were disrupted, and building and co...