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The industry value of asphalt modifiers in the UK is projected to reach a total of US$269.4 million by 2034. Asphalt modifier sales in the UK are expected to grow at a CAGR of 4.2% during the forecast period. Strict regulations regarding road safety and environmental standards in the UK have increased the demand for advanced asphalt modifiers.
NEWARK, Del., March 19, 2024 (Globe Newswire) — The value of the European asphalt modifier industry is projected to increase from March 19, 2024. $1,459.2 a million By 2024 $2,276.7 a million The demand for asphalt modifiers in Europe is expected to grow rapidly at a CAGR during the assessment period. 4.5%.
The thermoplastic polymers/plastomers sector is expected to dominate the industry in Europe. 38.1% On the other hand, the thermoplastic elastomers segment is expected to grow at a higher CAGR from 2024 onwards. 5.4% Until 2034.
Multiple factors are expected to drive the growth of the European asphalt modifier industry during the assessment period. These include robust infrastructure development and increased awareness of the benefits of asphalt modifiers. At the same time, interest in sustainable pavements is increasing in the European construction industry, which is expected to drive demand. Increased government regulations regarding road quality, safety, and environmental impact are expected to drive growth.
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Asphalt modifiers are experiencing steady demand across Europe and this trend is expected to continue during the assessment period. This is due to its ability to improve the performance of bitumen.
With infrastructure projects such as road construction and airport runways increasing across Europe, demand for asphalt modifiers is expected to increase. These modifiers increase the longevity, resilience and performance of asphalt, thereby ensuring the reliability and sustainability of critical transportation networks and infrastructure systems.
Building renovation projects are on the rise in European countries such as Germany and the United Kingdom. This is expected to result in high demand for asphalt modifiers during the assessment period.
Rapid urbanization in Europe is increasing the need for durable and sustainable infrastructure solutions, which is expected to drive industry growth. Similarly, increased heavy transport and extreme weather conditions are likely to drive asphalt modifier sales in Europe during the evaluation period.
“European asphalt modifier industry will witness healthy growth due to rising demand for durable road infrastructure, intensified construction activity and growing awareness of the benefits of modified asphalt in improving road performance and longevity. We are well-positioned. As Europe’s industry continues to expand and modernize, there is a growing need for high-quality infrastructure to support economic development.” – Comment Nikhil Kaitwade (Vice President, Future Market Insights, Inc.)
Key points from the report
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The European asphalt modifier industry is $2,276.7 a million By 2034.
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The total Thermoplastic Polymers/Plastomers segment by product type is: USD 821.2 million By 2034.
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By application, the road construction segment is expected to hold the value share. 75.7% In 2024.
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Germany is expected to account for a large share of approx. 18.2% In 2034.
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Revenues in Russia are expected to reach the following levels USD 367.4 million By 2034.
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Demand in the Czech Republic is CAGR of 6.8% Until 2034.
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competitive environment
The European asphalt modifier industry is consolidated, with top players around 75%～80% share.
Top Key Companies Profiled
Major asphalt modifier companies are developing new asphalt modifiers to meet the specific needs of end users. They employ strategies such as partnerships, acquisitions, collaborations, mergers, and facility expansions as well as focus on the use of bio-based and recycled materials to stay ahead of their competitors.
Recent developments:
Get more insight
Future Market Insights (FMI) in its latest report provides an unbiased analysis of the European Asphalt Modifiers industry, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. I am. To understand the potential, growth, and scope of the industry, the report is segmented on the basis of product type, application, and region.
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European Asphalt Modifier Industry Segmentation
By product type:
By application:
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road construction
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airfield runway
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railway line
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road
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roofing material
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like water off a duck’s back
By region:
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Germany
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France
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Italy
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England
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Spain
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Russia
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Austria
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Czech Republic
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Norway
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rest of europe
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Future Market Insights (FMI)’s Chemicals and Materials division provides clear and pinpoint analysis of the chemicals and materials industry. This comprehensive coverage ranges from commodities, bulk, specialty goods and petrochemicals to advanced materials, composites and nanotechnology, with particular focus on “green alternatives, recycling and renewable technology development, supply and demand trade assessment” The emphasis is on Our research serves as a reference for market guidelines for chemical manufacturers, research institutes, channel partners, and government agencies to develop “The Way Forward.”
author:
Nikhil Kaitwade (Vice President, Future Market Insights, Inc.) has over 10 years of experience in market research and business consulting. He has successfully completed over 1,500 of his client assignments, primarily in the automotive, chemical, industrial equipment, oil and gas, and service industries.
His core competencies center around developing research methodologies, proprietary analytical frameworks, creating statistical data models for price analysis, competitive mapping, and market feasibility analysis. His expertise also extends widely beyond analysis, advising clients on identifying growth potential, investment/sale decisions, and market entry decisions in established and niche market segments. Masu.
Nikhil holds an MBA degree in Marketing and IT and a postgraduate degree in Mechanical Engineering. Nikhil has authored several publications and has been cited in journals such as EMS Now, EPR Magazine, and EE Times.
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