North America Bitumen Additives Market Forecast to 2030

At 5.7% CAGR, North America Bitumen Additives Market is Speculated to be Worth US$ 1,840.03 Million by 2030, says the Research Team

According to the Research Team’ research, the North America bitumen additives market was valued at US$ 1,181.79 million in 2022 and is projected to reach US$ 1,840.03 million by 2030, registering a CAGR of 5.7% from 2022 to 2030. Sustainability offered by bitumen additives and development of sustainable bitumen additives are among the critical factors attributed to drive the North America bitumen additives market growth.

Rising awareness regarding greenhouse gas (GHG) emissions can upsurge the demand for bio-based and sustainable polymer products. Governments of various countries are adopting several initiatives to increase the awareness and development of biomaterials and recycled materials. In 2019, Nouryon launched sustainable ingredients for the asphalt market. The company launched Wetfix G400, a non-amine adhesion promoter derived from renewable resources. Wetfix G400 is aimed at meeting customers’ needs for a sustainable alternative that maintains asphalt mixture performance and durability. Adhesion promoters are added to asphalt used in road construction and maintenance to protect from damage caused by moisture and extend the service life of asphalt pavement. However, conventional adhesion promoters are incompatible with polyphosphoric acid (PPA), which is growing in popularity as an economical way to modify asphalt binders to the desired performance level. In 2021, Kao Performance Chemicals launched an asphalt additive made from recycled plastic (Polyethylene Terephthalate) bottles. The product NEWTLAC 5000 is an additive with high durability and oil resistance. Moreover, NEWTLAC 5000 pavement is less susceptible to damage from heavy vehicles. Therefore, the development of sustainable bitumen additives is expected to drive the bitumen additives market during the forecast period.

On the contrary, strategic product innovations and research by key market players hamper the growth of the North America bitumen additives market.

Based on type, the North America bitumen additives market is segmented into polymeric modifiers, adhesion promoters / anti-strip agents, chemical modifiers, antioxidants, fibers, fillers, emulsifiers, and others. The polymeric modifiers segment held 51.8% market share in 2022, amassing US$ 612.67 million. It is projected to garner US$ 986.03 million by 2030 to register 6.1% CAGR during 2022–2030.

In terms of application, the North America bitumen additives market is segmented into road construction, roofing, paints & coatings, and others . The road construction segment held 86.2% share of North America bitumen additives market in 2022, amassing US$ 1,019.07 million. It is anticipated to garner US$ 1,612.11 million by 2030 to expand at 5.9% CAGR during 2022–2030.

Based on country, the North America bitumen additives market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.7% share of North America bitumen additives market in 2022. It was assessed at US$ 941.53 million in 2022 and is likely to hit US$ 1,482.65 million by 2030, registering a CAGR of 5.8% during 2022–2030.

Key players operating in the North America bitumen additives market are Arkema SA, BASF SE, Dow Inc, Honeywell International Inc, Huntsman International LLC, Ingevity Corp, Kao Corp, Kraton Corp, Nouryon Chemicals Holding BV, and Sasol Ltd, among others.

In January 2022, Company acquired 100% of the issued shares of US Digital Designs, Inc., a provider of technologies for first responders, for total consideration of $186 million. The business is included within the Honeywell Building Technologies reportable business segment.

In June 2019, Arkema expands its portfolio of reactive terpolymers with the new Lotader AX8670T ethylene-vinyl acetate-glycidyl methacrylate terpolymer, opening up new opportunities with long-lasting performance. Lotader AX8670T reactive terpolymer is the most reactive terpolymers manufactured by Arkema and is suitable for a broad range of applications thanks to its unique properties. Lotader AX8670T terpolymer is suitable as adhesion promoter in thermo-adhesive films and hot melt formulations in automotive and industrial applications. Lotader AX8670T can also be used to modify the properties of bitumen used in road paving and roofing membranes applications and will provide exceptional performance. Lotader AX8670T is commercially available worldwide through Arkema’s local subsidiary and distribution network.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America bitumen additives market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the North America bitumen additives market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America bitumen additives market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

TABLE OF CONTENTS

1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. North America Bitumen Additives Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Bitumen Additives Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End Users
4.4 List of Vendors
5. North America Bitumen Additives Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing Construction and Rehabilitation Activities
5.1.2 Rising Government Initiatives for Infrastructure Development
5.2 Market Restraints
5.2.1 Fluctuations in Raw Material Prices
5.3 Market Opportunities
5.3.1 Strategic Product Innovations and Research by Key Market Players
5.4 Future Trends
5.4.1 Development of Sustainable Bitumen Additives
5.5 Impact of Drivers and Restraints:
6. Bitumen Additives Market – North America Analysis
6.1 North America Bitumen Additives Market Volume (Kilo Tons), 2020 – 2030
6.2 North America Bitumen Additives Market Revenue (US$ Million), 2020 – 2030
6.3 North America Bitumen Additives Market Forecast and Analysis
7. North America Bitumen Additives Market Analysis – Type
7.1 Polymeric Modifiers
7.1.1 Overview
7.1.2 Polymeric Modifiers Market Revenue and Forecast to 2030 (US$ Million)
7.1.3 Polymeric Modifiers Market Volume and Forecast to 2030 (Kilo Tons)
7.2 Adhesion Promoters / Anti-Strip Agents
7.2.1 Overview
7.2.2 Adhesion Promoters / Anti-Strip Agents Market Revenue and Forecast to 2030 (US$ Million)
7.2.3 Adhesion Promoters / Anti-Strip Agents Market Volume and Forecast to 2030 (Kilo Tons)
7.3 Chemical Modifiers
7.3.1 Overview
7.3.2 Chemical Modifiers Market Revenue and Forecast to 2030 (US$ Million)
7.3.3 Chemical Modifiers Market Volume and Forecast to 2030 (Kilo Tons)
7.4 Antioxidants
7.4.1 Overview
7.4.2 Antioxidants Market Revenue and Forecast to 2030 (US$ Million)
7.4.3 Antioxidants Market Volume and Forecast to 2030 (Kilo Tons)
7.5 Fibers
7.5.1 Overview
7.5.2 Fibers Market Revenue and Forecast to 2030 (US$ Million)
7.5.3 Fibers Market Volume and Forecast to 2030 (Kilo Tons)
7.6 Fillers
7.6.1 Overview
7.6.2 Fillers Market Revenue and Forecast to 2030 (US$ Million)
7.6.3 Fillers Market Volume and Forecast to 2030 (Kilo Tons)
7.7 Emulsifiers
7.7.1 Overview
7.7.2 Emulsifiers Market Revenue and Forecast to 2030 (US$ Million)
7.7.3 Emulsifiers Market Volume and Forecast to 2030 (Kilo Tons)
7.8 Others
7.8.1 Overview
7.8.2 Others Market Revenue and Forecast to 2030 (US$ Million)
7.8.3 Others Market Volume and Forecast to 2030 (Kilo Tons)
8. North America Bitumen Additives Market Analysis – Application
8.1 Road Construction
8.1.1 Overview
8.1.2 Road Construction Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Roofing
8.2.1 Overview
8.2.2 Roofing Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Paints & Coatings
8.3.1 Overview
8.3.2 Paints & Coatings Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Others
8.4.1 Overview
8.4.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
9. North America Bitumen Additives Market – Country Analysis
9.1 North America Bitumen Additives Market
9.1.1 North America Bitumen Additives Market Revenue and Forecasts and Analysis – By Countries
9.1.1.1 North America Bitumen Additives Market Breakdown by Country
9.1.1.2 US Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.3 US Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.3.1 US Bitumen Additives Market Breakdown by Type
9.1.1.3.2 US Bitumen Additives Market Breakdown by Application
9.1.1.4 Canada Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.5 Canada Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.5.1 Canada Bitumen Additives Market Breakdown by Type
9.1.1.5.2 Canada Bitumen Additives Market Breakdown by Application
9.1.1.6 Mexico Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.7 Mexico Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.7.1 Mexico Bitumen Additives Market Breakdown by Type
9.1.1.7.2 Mexico Bitumen Additives Market Breakdown by Application
10. Competitive Landscape
10.1 Heat Map Analysis- By Key Players
10.2 Company Positioning & Concentration
11. Bitumen Market Industry Landscape
11.1 Overview
11.2 Merger and Acquisitions
11.3 Product Launch
12. Company Profiles
12.1 Nouryon Chemicals Holding BV
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Ingevity Corp
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Kraton Corp
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Arkema SA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Dow Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Honeywell International Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Huntsman International LLC
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Sasol Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 BASF SE
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Kao Corp
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix

LIST OF TABLES

Table 1. North America Bitumen Additives Market Segmentation
Table 2. North America Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
Table 3. North America Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
Table 4. North America Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 5. North America Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons) – Type
Table 6. North America Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 7. US Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 8. US Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons) – By Type
Table 9. US Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 10. Canada Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 11. Canada Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 12. Canada Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 13. Mexico Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – By Type
Table 14. Mexico Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons) – By Type
Table 15. Mexico Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million) – By Application

LIST OF FIGURES

Figure 1. North America Bitumen Additives Market Segmentation, By Country
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: Bitumen Additives Market
Figure 4. North America Bitumen Additives Market – Key Industry Dynamics
Figure 5. Crude Oil Prices in Accordance with Various Geopolitical and Economic Events (1970–2023)
Figure 6. Impact Analysis of Drivers and Restraints
Figure 7. North America Bitumen Additives Market Volume (Kilo Tons), 2020 – 2030
Figure 8. North America Bitumen Additives Market Revenue (US$ Million), 2020 – 2030
Figure 9. North America Bitumen Additives Market Share (%) – Type, 2022 and 2030
Figure 10. Polymeric Modifiers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Polymeric Modifiers Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 12. Adhesion Promoters / Anti-Strip Agents Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Adhesion Promoters / Anti-Strip Agents Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 14. Chemical Modifiers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Chemical Modifiers Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 16. Antioxidants Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Antioxidants Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 18. Fibers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Fibers Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 20. Fillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Fillers Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 22. Emulsifiers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Emulsifiers Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 24. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Others Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 26. North America Bitumen Additives Market Share (%) – Application, 2022 and 2030
Figure 27. Road Construction Market Revenue and Forecasts to 2030 (US$ Million)
Figure 28. Roofing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. Paints & Coatings Market Revenue and Forecasts to 2030 (US$ Million)
Figure 30. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 31. North America Bitumen Additives Market, By Key Country – Revenue (2022) (US$ Million)
Figure 32. North America Bitumen Additives Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 33. US Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 34. US Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 35. Canada Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 36. Canada Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 37. Mexico Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
Figure 38. Mexico Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 39. Heat Map Analysis- By Key Players
Figure 40. Company Positioning & Concentration