Bitumen Additives Market Size Report, Trends and Forecast 2030
[Research Report] The bitumen additives market size is expected to grow from US$ 5,237.07 million in 2022 to US$ 8,275.37 million by 2030; it is estimated to register a CAGR of 5.9% from 2022 to 2030.
Market Insights and Analyst View:
Bitumen additives are substances that are added to the bitumen binder to alter the characteristics of final mixture, to make them resistant to the detrimental effects of the load from traffic and the environment. Additives used for bitumen are polymeric modifiers, anti-strip agents, adhesion promoters, emulsifiers, surfactants, rejuvenators, fibers, organic materials, and rubber modifiers. The additives mainly affect thermos viscous and viscoelastic properties of original binder. The polymer can form a three-dimensional network structure within the modified bitumen. Polymer modification improves the temperature susceptibility of bitumen and its resistance to permanent deformation, thermal and fatigue cracking. Technologies used for mixing additives with asphalt include hot mix, cold mix, and warm mix.
Growth Drivers and Challenges:
The major factor driving the bitumen additives market growth is growing construction and rehabilitation activities in various countries across the world. According to the US Census Bureau, the total construction spending in the US accounted for US$ 740.8 billion during the first five months of 2023. The investment was spent on the development of offices, commercial spaces, transportation, highways, and streets. The spending on private and public construction was US$ 585.7 billion and US$ 133.8 billion, respectively, during the first five months of 2023. In 2022, Webuild, in partnership with IHI Infrastructure Systems Co, built one of the longest suspension bridges, Braila Bridge, measuring 2,277 km, in Romania. In 2022, China began the construction of second bridge across the Pangong Lake. The bridge can accommodate heavy armored vehicles. Further, the requirement for repair and rehabilitation of aging infrastructure creates a constant demand for bitumen additives. Bitumen additives enhance the performance of asphalt pavements and extend the service life of roads. However, fluctuation in raw material prices is hampering the bitumen additives market growth. Polymer additives and other chemical additives are derived from various sources, including petrochemical feedstocks or renewable resources. Other bitumen additives such as emulsifiers, rejuvenators, and anti-strip agents are indirectly derived from crude oil. Disruption in transportation and supply chain, rise in demand for crude oil, inflation in raw material prices, and limited supply of raw materials caused due to the COVID-19 pandemic raised petroleum product prices. The rising crude oil prices due to fluctuating global economic conditions are increasing the resin prices. The rise in raw material prices leads to strain on product profitability and margins. Thus, fluctuations in the prices of raw materials restrain the bitumen additives market.
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Bitumen Additives Market: Strategic Insights
Market Size Value in US$ 5,237.07 million in 2022 Market Size Value by US$ 8,275.37 million by 2030 Growth rate CAGR of 5.9% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Bitumen Additives Market: Strategic Insights
| Market Size Value in | US$ 5,237.07 million in 2022 |
| Market Size Value by | US$ 8,275.37 million by 2030 |
| Growth rate | CAGR of 5.9% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The “Global Bitumen Additives Market” is segmented on the basis of type, application, and geography. Based on type, the bitumen additives market is segmented into polymeric modifiers, adhesion promoters / anti-strip agents, chemical modifiers, antioxidants, fibers, fillers, emulsifiers, and others. The bitumen additives market, based on application, is segmented into road construction, roofing, paints & coatings, and others. The bitumen additives market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)
Segmental Analysis:
Based on type, the 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 significant bitumen additives market share in 2022, and the market for the segment is expected to grow significantly from 2022 to 2030. Polymers help to improve the mechanical properties and performance of the asphalt and significantly reduce surface deformations under high temperatures. This results in increasing the road surface life.Polymer-modified binders are used to enhance the performance of binders on heavily trafficked or distressed pavement surfaces, often in adverse climatic conditions. Polymer-modified bitumen is made by the mechanical mixing or chemical reactions of bitumen and polymer in a certain percentage. Polymers include various modifiers with elastomers, and plastomers are the most commonly used types. Corresponding elastomers are styrene butadiene styrene (SBS), styrene isoprene styrene (SIS), and styrene-ethylene/butylene-styrene (SEBS).
Regional Analysis:
Based on geography, the bitumen additives market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Asia Pacific dominated the global bitumen additives market, and the regional market accounted for approx. US$ 1,798 million in 2022. Europe is a second major contributor holding more than 26% global bitumen additives market share. North America is expected to register a considerable CAGR of around 5.3% from 2022 to 2030. The construction sector in North America is witnessing growth due to a robust economy and increased federal and state financing for commercial and institutional structures in the region. According to a report published by the US Census Bureau in 2022, the spending on residential construction in the US increased from US$ 815.48 billion in 2021 to US$ 929.67 billion in 2022. In the construction industry, bitumen additives are utilized in various building & construction applications such as waterproofing, roofing, and road & pavement construction. The demand for bitumen additives is increasing due to growing construction activities and rising government support for new infrastructure rehabilitation projects in the region.
Industry Developments and Future Opportunities:
The following are initiatives taken by the key players operating in the bitumen additives market:
- In August 2022, Kao Corporation developed the first-ever asphalt additive made from recycled plastic bottles. It features NEWTLAC 5000, a new additive with exceptionally high durability, oil resistance, and environmental features. NEWTLAC 5000 is made by chemical recycling of waste PET (polyethylene terephthalate) plastics. NEWTLAC 5000 pavement is less susceptible to damage from heavy vehicles and is highly resistant to oil and other liquids.
- In April 2019, Nouryon expanded its offering for the asphalt market with Wetfix G400, a versatile non-amine adhesion promoter derived from renewable resources. Wetfix G400 meets customers’ needs for a sustainable alternative that maintains asphalt mixture performance and durability.
- In June 2020, BASF SE launched a bitumen additive designed to make roads more durable. BASF SE has spent several years developing the additive together with the Institute of Highway Engineering in Aachen, and the product is available under the name B2Last.
Bitumen Additives Market Report Scope
COVID-19 Pandemic Impact:
The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA) hampered the growth of several industries, including the chemicals & materials industry. The shutdown of manufacturing units of bitumen additives companies disturbed global supply chains, manufacturing activities, and delivery schedules. Various companies reported delays in product deliveries and a slump in their product sales in 2020. Most of the construction projects were closed during the pandemic, negatively impacting the bitumen additives market growth.
Various industries are coming on track after supply constraints affecting these industries are resolving gradually. Moreover, the rising demand for bitumen additives from the industrial and residential construction sectors substantially promotes the bitumen additives market growth
Competitive Landscape and Key Companies:
A few players operating in the global bitumen additives market are KRATON CORPORATION, BASF SE, Ingevity, Nouryon, Arkema, Kao Chemicals Europe, Dow, Honeywell International Inc, Huntsman International LLC, and Sasol Limited. Players operating in the bitumen additives market focus on providing high-quality products to fulfill customer demand.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Asia Pacific is estimated to register the fastest CAGR in the global bitumen additives market from 2022 to 2030. The growing construction industry and research and development pertaining to road infrastructure in the Asia Pacific are projected to boost the demand for bitumen additives.
The road construction segment held the largest share of the global bitumen additives market in 2022. There is an increasing use of bitumen for surfacing roads, airport pavements, runways, taxiways, and platforms.
The polymeric modifiers segment held the largest share of the global bitumen additives market in 2022. Polymeric modifiers are one of the major bitumen additives. Polymers help to improve the mechanical properties and performance of the asphalt and significantly reduce surface deformations under high temperatures.
A few players operating in the global bitumen additives market include KRATON CORPORATION, BASF SE, Ingevity, Nouryon, Arkema, Kao Chemicals Europe, Dow, Honeywell International Inc, Huntsman International LLC, and Sasol Limited.
In 2022, Asia Pacific held the largest share of the global bitumen additives market. The strong growth of the construction industry in countries such as India, China, Japan, Australia, and others is driving the bitumen additives market growth in the region.
The projected growth of the market is attributed to the growing construction and rehabilitation activities and rising government initiatives for infrastructure development.
1. Introduction
1.1 The Insight Partners 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. Global 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
5. Global 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 - Global Market Analysis
6.1 Global Bitumen Additives Market Volume (Kilo Tons), 2020 – 2030
6.2 Global Bitumen Additives Market Revenue (US$ Million), 2020 – 2030
6.3 Global Bitumen Additives Market Forecast and Analysis
7. Global 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. Global 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 and Coatings
8.3.1 Overview
8.3.2 Paints and 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. Global Bitumen Additives Market - Geographical Analysis
9.1 North America
9.1.1 North America Bitumen Additives Market Overview
9.1.2 North America Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.3 North America Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.4 North America Bitumen Additives Market Breakdown by Type
9.1.4.1 North America Bitumen Additives Market Revenue and Forecasts and Analysis - By Type
9.1.4.2 North America Bitumen Additives Market Volume and Forecasts and Analysis - By Type
9.1.5 North America Bitumen Additives Market Breakdown by Application
9.1.5.1 North America Bitumen Additives Market Revenue and Forecasts and Analysis - By Application
9.1.6 North America Bitumen Additives Market Revenue and Forecasts and Analysis - By Countries
9.1.6.1 North America Bitumen Additives Market Breakdown by Country
9.1.6.2 US Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.6.3 US Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.6.3.1 US Bitumen Additives Market Breakdown by Type
9.1.6.3.2 US Bitumen Additives Market Breakdown by Application
9.1.6.4 Canada Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.6.5 Canada Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.6.5.1 Canada Bitumen Additives Market Breakdown by Type
9.1.6.5.2 Canada Bitumen Additives Market Breakdown by Application
9.1.6.6 Mexico Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.1.6.7 Mexico Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.6.7.1 Mexico Bitumen Additives Market Breakdown by Type
9.1.6.7.2 Mexico Bitumen Additives Market Breakdown by Application
9.2 Europe
9.2.1 Europe Bitumen Additives Market Overview
9.2.2 Europe Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.2.3 Europe Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.2.4 Europe Bitumen Additives Market Breakdown by Type
9.2.4.1 Europe Bitumen Additives Market Revenue and Forecasts and Analysis - By Type
9.2.4.2 Europe Bitumen Additives Market Volume and Forecasts and Analysis - By Type
9.2.5 Europe Bitumen Additives Market Breakdown by Application
9.2.5.1 Europe Bitumen Additives Market Revenue and Forecasts and Analysis - By Application
9.2.6 Europe Bitumen Additives Market Revenue and Forecasts and Analysis - By Countries
9.2.6.1 Europe Bitumen Additives Market Breakdown by Country
9.2.6.2 Germany Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.2.6.3 Germany Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.2.6.3.1 Germany Bitumen Additives Market Breakdown by Type
9.2.6.3.2 Germany Bitumen Additives Market Breakdown by Application
9.2.6.4 France Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.2.6.5 France Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.2.6.5.1 France Bitumen Additives Market Breakdown by Type
9.2.6.5.2 France Bitumen Additives Market Breakdown by Application
9.2.6.6 Italy Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.2.6.7 Italy Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.2.6.7.1 Italy Bitumen Additives Market Breakdown by Type
9.2.6.7.2 Italy Bitumen Additives Market Breakdown by Application
9.2.6.8 UK Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.2.6.9 UK Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.2.6.9.1 UK Bitumen Additives Market Breakdown by Type
9.2.6.9.2 UK Bitumen Additives Market Breakdown by Application
9.2.6.10 Russia Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.2.6.11 Russia Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.2.6.11.1 Russia Bitumen Additives Market Breakdown by Type
9.2.6.11.2 Russia Bitumen Additives Market Breakdown by Application
9.2.6.12 Rest of Europe Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.2.6.13 Rest of Europe Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.2.6.13.1 Rest of Europe Bitumen Additives Market Breakdown by Type
9.2.6.13.2 Rest of Europe Bitumen Additives Market Breakdown by Application
9.3 Asia Pacific Bitumen Additives Market
9.3.1 Overview
9.3.2 Asia Pacific Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
9.3.3 Asia Pacific Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
9.3.4 Asia Pacific Bitumen Additives Market Breakdown by Type
9.3.4.1 Asia Pacific Bitumen Additives Market Revenue and Forecasts and Analysis - By Type
9.3.4.2 Asia Pacific Bitumen Additives Market Volume and Forecasts and Analysis - By Type
9.3.5 Asia Pacific Bitumen Additives Market Breakdown by Application
9.3.5.1 Asia Pacific Bitumen Additives Market Revenue and Forecasts and Analysis - By Application
9.3.6 Asia Pacific Bitumen Additives Market Breakdown by Country
9.3.6.1 Asia Pacific Bitumen Additives Market Breakdown by Country
9.3.6.2 Australia Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.3.6.3 Australia Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.3.6.3.1 Australia Bitumen Additives Market Breakdown by Type
9.3.6.3.2 Australia Bitumen Additives Market Breakdown by Application
9.3.6.4 China Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.3.6.5 China Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.3.6.5.1 China Bitumen Additives Market Breakdown by Type
9.3.6.5.2 China Bitumen Additives Market Breakdown by Application
9.3.6.6 India Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.3.6.7 India Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.3.6.7.1 India Bitumen Additives Market Breakdown by Type
9.3.6.7.2 India Bitumen Additives Market Breakdown by Application
9.3.6.8 Japan Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.3.6.9 Japan Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.3.6.9.1 Japan Bitumen Additives Market Breakdown by Type
9.3.6.9.2 Japan Bitumen Additives Market Breakdown by Application
9.3.6.10 South Korea Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.3.6.11 South Korea Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.3.6.11.1 South Korea Bitumen Additives Market Breakdown by Type
9.3.6.11.2 South Korea Bitumen Additives Market Breakdown by Application
9.3.6.12 Rest of Asia Pacific Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.3.6.13 Rest of Asia Pacific Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.3.6.13.1 Rest of Asia Pacific Bitumen Additives Market Breakdown by Type
9.3.6.13.2 Rest of Asia Pacific Bitumen Additives Market Breakdown by Application
9.4 Middle East and Africa
9.4.1 Middle East and Africa Bitumen Additives Market Overview
9.4.2 Middle East and Africa Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.4.3 Middle East and Africa Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.4.4 Middle East and Africa Bitumen Additives Market Breakdown by Type
9.4.4.1 Middle East and Africa Bitumen Additives Market Revenue and Forecasts and Analysis - By Type
9.4.4.2 Middle East and Africa Bitumen Additives Market Volume and Forecasts and Analysis - By Type
9.4.5 Middle East and Africa Bitumen Additives Market Breakdown by Application
9.4.5.1 Middle East and Africa Bitumen Additives Market Revenue and Forecasts and Analysis - By Application
9.4.6 Middle East and Africa Bitumen Additives Market Revenue and Forecasts and Analysis - By Countries
9.4.6.1 Middle East and Africa Bitumen Additives Market Breakdown by Country
9.4.6.2 South Africa Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.4.6.3 South Africa Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.4.6.3.1 South Africa Bitumen Additives Market Breakdown by Type
9.4.6.3.2 South Africa Bitumen Additives Market Breakdown by Application
9.4.6.4 Saudi Arabia Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.4.6.5 Saudi Arabia Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.4.6.5.1 Saudi Arabia Bitumen Additives Market Breakdown by Type
9.4.6.5.2 Saudi Arabia Bitumen Additives Market Breakdown by Application
9.4.6.6 UAE Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.4.6.7 UAE Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.4.6.7.1 UAE Bitumen Additives Market Breakdown by Type
9.4.6.7.2 UAE Bitumen Additives Market Breakdown by Application
9.4.6.8 Rest of MEA Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.4.6.9 Rest of MEA Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.4.6.9.1 Rest of MEA Bitumen Additives Market Breakdown by Type
9.4.6.9.2 Rest of MEA Bitumen Additives Market Breakdown by Application
9.5 South and Central America
9.5.1 South and Central America Bitumen Additives Market Overview
9.5.2 South and Central America Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.5.3 South and Central America Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.5.4 South and Central America Bitumen Additives Market Breakdown by Type
9.5.4.1 South and Central America Bitumen Additives Market Revenue and Forecasts and Analysis - By Type
9.5.4.2 South and Central America Bitumen Additives Market Volume and Forecasts and Analysis - By Type
9.5.5 South and Central America Bitumen Additives Market Breakdown by Application
9.5.5.1 South and Central America Bitumen Additives Market Revenue and Forecasts and Analysis - By Application
9.5.6 South and Central America Bitumen Additives Market Revenue and Forecasts and Analysis - By Countries
9.5.6.1 South and Central America Bitumen Additives Market Breakdown by Country
9.5.6.2 Brazil Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.5.6.3 Brazil Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.5.6.3.1 Brazil Bitumen Additives Market Breakdown by Type
9.5.6.3.2 Brazil Bitumen Additives Market Breakdown by Application
9.5.6.4 Argentina Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.5.6.5 Argentina Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.5.6.5.1 Argentina Bitumen Additives Market Breakdown by Type
9.5.6.5.2 Argentina Bitumen Additives Market Breakdown by Application
9.5.6.6 Rest of SAM Bitumen Additives Market Revenue and Forecasts to 2030 (US$ Million)
9.5.6.7 Rest of SAM Bitumen Additives Market Volume and Forecasts to 2030 (Kilo Tons)
9.5.6.7.1 Rest of SAM Bitumen Additives Market Breakdown by Type
9.5.6.7.2 Rest of SAM Bitumen Additives Market Breakdown by Application
10. Global Bitumen Additives Market – Impact of COVID-19 Pandemic
10.1 Pre & Post Covid-19 Impact
11. Competitive Landscape
11.1 Heat Map Analysis- By Key Players
11.2 Company Positioning & Concentration
12. Bitumen Market Industry Landscape
12.1 Overview
12.2 Merger and Acquisitions
12.3 Product Launch
13. Company Profiles
13.1 Nouryon Chemicals Holding BV
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Ingevity Corp
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Kraton Corp
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Arkema SA
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Dow Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Honeywell International Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Huntsman International LLC
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Sasol Ltd
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 BASF SE
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Kao Corp
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
List of Tables
Table 1. Global Bitumen Additives Market Segmentation
Table 2. Global Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Table 3. Global Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. Global Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – Type
Table 5. Global Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – Type
Table 6. Global Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 7. North America Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 8. North America Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 9. North America Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 10. US Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 11. US Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 12. US Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 13. Canada Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 14. Canada Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 15. Canada Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 16. Mexico Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 17. Mexico Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 18. Mexico Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 19. Europe Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 20. Europe Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 21. Europe Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 22. Germany Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 23. Germany Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 24. Germany Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 25. France Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 26. France Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 27. France Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 28. Italy Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 29. Italy Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 30. Italy Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 31. UK Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 32. UK Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 33. UK Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 34. Russia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 35. Russia Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 36. Russia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 37. Rest of Europe Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 38. Rest of Europe Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 39. Rest of Europe Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 40. Asia Pacific Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – Type
Table 41. Asia Pacific Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – Type
Table 42. Asia Pacific Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 43. Australia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 44. Australia Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 45. Australia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 46. China Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 47. China Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 48. China Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 49. India Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 50. India Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 51. India Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 52. Japan Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 53. Japan Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 54. Japan Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 55. South Korea Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 56. South Korea Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 57. South Korea Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 58. Rest of Asia Pacific Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 59. Rest of Asia Pacific Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 60. Rest of Asia Pacific Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 61. Middle East and Africa Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 62. Middle East and Africa Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 63. Middle East and Africa Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 64. South Africa Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 65. South Africa Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 66. South Africa Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 67. Saudi Arabia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 68. Saudi Arabia Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 69. Saudi Arabia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 70. UAE Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 71. UAE Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 72. UAE Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 73. Rest of MEA Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 74. Rest of MEA Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 75. Rest of MEA Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 76. South and Central America Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 77. South and Central America Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 78. South and Central America Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 79. Brazil Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 80. Brazil Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 81. Brazil Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 82. Argentina Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 83. Argentina Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 84. Argentina Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 85. Rest of SAM Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 86. Rest of SAM Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons) – By Type
Table 87. Rest of SAM Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million) – By Application
List of Figures
Figure 1. Global Bitumen Additives Market Segmentation, By Geography
Figure 2. Porter's Five Forces Analysis
Figure 3. Ecosystem: Bitumen Additives Market
Figure 4. Global 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. Global Bitumen Additives Market Volume (Kilo Tons), 2020 – 2030
Figure 8. Global Bitumen Additives Market Revenue (US$ Million), 2020 – 2030
Figure 9. Global 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. Global 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 and Coatings Market Revenue and Forecasts To 2030 (US$ Million)
Figure 30. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 31. Global Bitumen Additives Market Breakdown by Geography, 2022 and 2030
Figure 32. North America Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 33. North America Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 34. North America Bitumen Additives Market Breakdown by Type (2022 and 2030)
Figure 35. North America Bitumen Additives Market Breakdown by Application (2022 and 2030)
Figure 36. North America Bitumen Additives Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 37. US Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 38. US Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 39. Canada Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 40. Canada Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 41. Mexico Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 42. Mexico Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 43. Europe Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 44. Europe Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 45. Europe Bitumen Additives Market Breakdown by Type (2022 and 2030)
Figure 46. Europe Bitumen Additives Market Breakdown by Application (2022 and 2030)
Figure 47. Europe Bitumen additives market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 48. Germany Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 49. Germany Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 50. France Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 51. France Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 52. Italy Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 53. Italy Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 54. UK Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 55. UK Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 56. Russia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 57. Russia Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 58. Rest of Europe Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 59. Rest of Europe Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 60. Asia Pacific Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 61. Asia Pacific Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 62. Asia Pacific Bitumen Additives Market Breakdown by Type (2022 and 2030)
Figure 63. Asia Pacific Bitumen Additives Market Breakdown by Application (2022 and 2030)
Figure 64. Asia Pacific Bitumen Additives Market Breakdown By Key Countries, 2022 And 2030 (%)
Figure 65. Australia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 66. Australia Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 67. China Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 68. China Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 69. India Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 70. India Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 71. Japan Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 72. Japan Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 73. South Korea Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 74. South Korea Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 75. Rest of Asia Pacific Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 76. Rest of Asia Pacific Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 77. Middle East and Africa Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 78. Middle East and Africa Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 79. Middle East and Africa Bitumen Additives Market Breakdown by Type (2022 and 2030)
Figure 80. Middle East and Africa Bitumen Additives Market Breakdown by Application (2022 and 2030)
Figure 81. Middle East and Africa Bitumen additives market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 82. South Africa Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 83. South Africa Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 84. Saudi Arabia Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 85. Saudi Arabia Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 86. UAE Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 87. UAE Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 88. Rest of MEA Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 89. Rest of MEA Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 90. South and Central America Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 91. South and Central America Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 92. South and Central America Bitumen Additives Market Breakdown by Type (2022 and 2030)
Figure 93. South and Central America Bitumen Additives Market Breakdown by Application (2022 and 2030)
Figure 94. South and Central America Bitumen Additives Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 95. Brazil Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 96. Brazil Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 97. Argentina Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 98. Argentina Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 99. Rest of SAM Bitumen Additives Market Revenue and Forecasts To 2030 (US$ Million)
Figure 100. Rest of SAM Bitumen Additives Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 101. Heat Map Analysis- By Key Players
Figure 102. Company Positioning & Concentration
The List of Companies - Bitumen Additives Market
- Nouryon Chemicals Holding BV
- Ingevity Corp
- Kraton Corp
- Arkema SA
- Dow Inc
- Honeywell International Inc
- Huntsman International LLC
- Sasol Ltd
- BASF SE
- Kao Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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