The Middle East & Africa bitumen additives market was valued at US$ 327.87 million in 2022 and is expected to reach US$ 484.25 million by 2030; it is estimated to register a CAGR of 5.0% from 2022 to 2030.
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.
Over the last ten years, the UAE government has invested extensively in airport developments and expansion projects, namely US$ 8.1 billion in Al Maktoum International Airport in Dubai, US$ 7.6 billion in the Dubai International Airport Expansion Phase 4, US$ 6.8 billion in Abu Dhabi Airport development and expansion plans, and ~US$ 400 million in Sharjah’s International Airport terminal expansion.
In 2021, the construction of the Jeddah Corniche Circuit (Saudi Arabia) was finished, which involved the utilization of 37 thousand tons of asphalt, 600 thousand tons of cement, 30 thousand square meters of bricks, and 1.4 thousand tons of glass. The growing need for residential and commercial buildings in the Middle East & Africa is expected to create lucrative opportunities for bitumen, bitumen additives, and other building materials in the Middle East & Africa. Rising construction activities across the region and increasing government spending on infrastructure development through programs such as Saudi Vision 2030 and Abu Dhabi Economic Vision 2030 are expected to positively impact the bitumen additives market during the forecast period.
Development of Sustainable Bitumen Additives Bolsters Middle East & Africa Bitumen Additives Market
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 bio-materials 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.
Middle East & Africa Bitumen Additives Market Overview
A rise in demand for construction materials due to a surge in infrastructural projects, sustainable construction, and industrialization in the Middle East & Africa are driving the demand for construction and building materials. The construction of commercial infrastructure has upsurged in the region due to the growing tourism industry and the rising immigrant population. The rising urban population has increased the construction of private residential buildings in semi-urban and urban cities, prompting governments to invest in the building & construction industry.Over the last ten years, the UAE government has invested extensively in airport developments and expansion projects, namely US$ 8.1 billion in Al Maktoum International Airport in Dubai, US$ 7.6 billion in the Dubai International Airport Expansion Phase 4, US$ 6.8 billion in Abu Dhabi Airport development and expansion plans, and ~US$ 400 million in Sharjah’s International Airport terminal expansion.
In 2021, the construction of the Jeddah Corniche Circuit (Saudi Arabia) was finished, which involved the utilization of 37 thousand tons of asphalt, 600 thousand tons of cement, 30 thousand square meters of bricks, and 1.4 thousand tons of glass. The growing need for residential and commercial buildings in the Middle East & Africa is expected to create lucrative opportunities for bitumen, bitumen additives, and other building materials in the Middle East & Africa. Rising construction activities across the region and increasing government spending on infrastructure development through programs such as Saudi Vision 2030 and Abu Dhabi Economic Vision 2030 are expected to positively impact the bitumen additives market during the forecast period.
Middle East & Africa Bitumen Additives Market Segmentation
- The Middle East & Africa bitumen additives market is categorized into type, application, and country.
- Based on type, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa bitumen additives market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa bitumen additives market share in 2022.
- Arkema SA, BASF SE, Dow Inc, Honeywell International Inc, Huntsman International LLC, Kao Corp, and Sasol Ltd are some of the leading companies operating in the Middle East & Africa bitumen additives market.
Market Highlights
- Based on type, the Middle East & Africa 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 52.1% market share in 2022, amassing US$ 170.72 million. It is projected to garner US$ 260.22 million by 2030 to register 5.4% CAGR during 2022-2030.
- In terms of application, the Middle East & Africa bitumen additives market is segmented into road construction, roofing, paints & coatings, and others. The road construction segment held 85.5% share of Middle East & Africa bitumen additives market in 2022, amassing US$ 280.36 million. It is anticipated to garner US$ 420.71 million by 2030 to expand at 5.2% CAGR during 2022-2030.
- This analysis states that Saudi Arabia captured 34.4% share of Middle East & Africa bitumen additives market in 2022. It was assessed at US$ 113.11 million in 2022 and is likely to hit US$ 173.43 million by 2030, registering a CAGR of 5.5% during 2022-2030.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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. Middle East & Africa Bitumen Additives Market Landscape
5. Middle East & Africa Bitumen Additives Market - Key Industry Dynamics
6. Bitumen Additives Market - Middle East & Africa Market Analysis
7. Middle East & Africa Bitumen Additives Market Analysis - Type
8. Middle East & Africa Bitumen Additives Market Analysis - Application
9. Middle East & Africa 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 Middle East and Africa Bitumen Additives market include:- Arkema SA
- BASF SE
- Dow Inc
- Honeywell International Inc
- Huntsman International LLC
- Kao Corp
- Sasol Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 87 |
| Published | August 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 327.87 Million |
| Forecasted Market Value ( USD | $ 484.25 Million |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Africa, Middle East |
| No. of Companies Mentioned | 8 |
