The Europe bitumen additives market was valued at US$ 1.46 billion in 2022 and is expected to reach US$ 2.29 billion by 2030; it is estimated to register a CAGR of 5.8% from 2022 to 2030.
Under the present EU funding system, the government intends to invest US$ 17.5 billion in railway infrastructure and US$ 36.6 billion in road infrastructure between 2014 and 2023 (with a view to 2025). Such initiatives generate demand for construction services, equipment, and materials. The rising investments and efforts in infrastructure development by governments of various countries across the world drive the growth of the bitumen additives market.
The EU invested ~US$ 6 billion for the construction of sustainable, safe, and efficient transport infrastructure, including 107 transport infrastructure projects in June 2023. A few bitumen additives are manufactured from recycled materials, which support the government's efforts for a circular economy and resource efficiency. Therefore, the increasing utilization of bitumen additives for infrastructure development in Europe is projected to fuel the growth of the bitumen additives market.
Rising Government Initiatives for Infrastructure Development Drive Europe Bitumen Additives Market
The government-supported infrastructure projects generally include roads, dams, bridges, tunnels, ports, airport pavements, and highways. The growing investments from government organizations lead to a rise in infrastructure construction. In 2022, the Department for Transport of the UK announced the funding of US$ 34.83 million to develop net zero highways. Also, Poland is still investing a sizable amount of money in the advancement of transportation.Under the present EU funding system, the government intends to invest US$ 17.5 billion in railway infrastructure and US$ 36.6 billion in road infrastructure between 2014 and 2023 (with a view to 2025). Such initiatives generate demand for construction services, equipment, and materials. The rising investments and efforts in infrastructure development by governments of various countries across the world drive the growth of the bitumen additives market.
Europe Bitumen Additives Market Overview
Europe is a prominent region, encompassing economies such as Germany, Italy, Denmark, and Poland, contributing to the growth of the bitumen additives market. Europe is one of the largest producers of construction materials, operated by small and medium-sized businesses (SMEs) that supply construction materials to local and regional markets. According to the European Commission, the construction industry is one of the major industries in Europe, contributing ~9% to the region's GDP.The EU invested ~US$ 6 billion for the construction of sustainable, safe, and efficient transport infrastructure, including 107 transport infrastructure projects in June 2023. A few bitumen additives are manufactured from recycled materials, which support the government's efforts for a circular economy and resource efficiency. Therefore, the increasing utilization of bitumen additives for infrastructure development in Europe is projected to fuel the growth of the bitumen additives market.
Europe Bitumen Additives Market Segmentation
- The Europe bitumen additives market is categorized into type, application, and country.
- Based on type, the Europe 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 the largest market share in 2022.
- In terms of application, the Europe bitumen additives market is segmented into road construction, roofing, paints & coatings, and others. The road construction held the largest market share in 2022.
- By country, the Europe bitumen additives market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe bitumen additives market share in 2022.
- 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 are some of the leading companies operating in the Europe bitumen additives market.
Market Highlights
- Based on type, the Europe 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 51.6% market share in 2022, amassing US$ 755.92 million. It is projected to garner US$ 1.22 billion by 2030 to register 6.2% CAGR during 2022-2030.
- In terms of application, the Europe bitumen additives market is segmented into road construction, roofing, paints & coatings, and others. The road construction segment held 87.5% share of Europe bitumen additives market in 2022, amassing US$ 1.28 billion. It is anticipated to garner US$ 2.03 billion by 2030 to expand at 6.0% CAGR during 2022-2030.
- This analysis states that the Rest of Europe captured 34.5% share of Europe bitumen additives market in 2022. It was assessed at US$ 504.95 million in 2022 and is likely to hit US$ 766.95 million by 2030, registering a CAGR of 5.4% during 2022-2030.
- 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.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe bitumen additives market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe bitumen additives market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the bitumen additives market, as well as those hindering it
- 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
2. Executive Summary
3. Research Methodology
4. Europe Bitumen Additives Market Landscape
5. Europe Bitumen Additives Market - Key Industry Dynamics
6. Bitumen Additives Market - Europe Analysis
7. Europe Bitumen Additives Market Analysis - Type
8. Europe Bitumen Additives Market Analysis - Application
9. Europe Bitumen Additives Market - Country Analysis
10. Competitive Landscape
11. Bitumen Market Industry Landscape
12. Company Profiles
List of Tables
List of Figures
Companies Mentioned
Some of the leading companies in the Europe Bitumen Additives market include:- Arkema SA
- BASF SE
- Dow Inc
- Honeywell International Inc
- Huntsman International LLC
- Ingevity Corp
- Kao Corp
- Kraton Corp
- Nouryon Chemicals Holding BV
- Sasol Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 103 |
| Published | August 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 1.46 Billion |
| Forecasted Market Value ( USD | $ 2.29 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 11 |
