Fueling Infrastructure Growth in the Chemical Industry
(EMAILWIRE.COM, October 28, 2023 ) The Asphalt Additive industry is a sector within the chemical market that focuses on developing and manufacturing additives specifically designed for use in asphalt, which is commonly used for road construction and maintenance. These additives are formulated to enhance the performance, durability, and versatility of asphalt materials. They can be used to modify various aspects of asphalt, such as its workability, strength, durability, and resistance to environmental factors. The report “Biodegradable Films Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), Application (Food Packaging, Agriculture & Horticulture, Cosmetic & Personal Care Products Packaging, Industrial Packaging) and Region – Global Forecast to 2026″, is projected to grow from USD 1.0 billion in 2021 to USD 1.4 billion by 2026, at a CAGR of 7.2% from 2021 to 2026. The market is witnessing significant growth across the world due to the increasing awareness and stringent government regulations about the use of non-biodegradable films. Biodegradable films are used in various applications such as food packaging, agriculture & horticulture, and cosmetics & personal care packaging.
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Browse in-depth TOC on “Asphalt Additive Market
544 – Market Data Tables
55 – Figures
348 – Pages
Scope in the Chemical Market:
Performance Enhancement: Asphalt additives are used to improve the performance characteristics of asphalt mixtures, such as resistance to cracking, rutting, and fatigue. They can also enhance adhesion and cohesion properties.
Durability: Additives help extend the lifespan of asphalt pavements, reducing the frequency of repairs and maintenance. This makes them cost-effective in the long run.
Environmental Sustainability: Some additives contribute to environmentally friendly asphalt solutions, such as warm-mix asphalt technologies that reduce energy consumption and emissions during production.
Versatility: The asphalt additive industry provides solutions for a wide range of end-use applications, including road construction, pavement repair, roofing, and waterproofing.
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End Use Applications:
Road Construction: The primary application for asphalt additives is road construction. These additives are used to create high-quality asphalt mixtures that can withstand the challenges of heavy traffic loads and varying weather conditions.
Roofing: Asphalt additives are used in roofing materials to enhance their waterproofing and weather-resistant properties. This is essential for ensuring the longevity of roofs and protecting structures from water damage.
Pavement Repair: Asphalt additives are also used in pavement repair and maintenance to extend the life of existing road surfaces and reduce the need for complete reconstruction.
Waterproofing: In the construction industry, asphalt additives are used to create waterproofing solutions for various applications, such as building foundations, tunnels, and underground structures.
By type, PLA is estimated to be the leading segment of biodegradable films from 2021 to 2026.
By type, PLA is estimated to have the largest share of the biodegradable films market, in terms of value, in 2020 due to the ease of availability of raw materials for manufacturing PLA. It is also the fastest-growing market, which is projected to register the highest CAGR in terms of volume during the forecast period. Biodegradable polyester is the second-largest segment of the market, in terms of volume during the forecast period.
By application, food packaging to be the largest and the fastest-growing segment of biodegradable films
By application, the biodegradable films market in the food packaging segment is estimated to account for the largest share in 2020 due to the increased use of biodegradable films for manufacturing single-use compostable packaging materials, including carry bags, food packaging boxes, and laminating films. Food packaging is also the fastest-growing application of biodegradable films. The market in the cosmetic & personal packaging application is also projected to register the second-fastest CAGR in terms of value during the forecast period.
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Europe is estimated to be the largest biodegradable films market during the forecast period
Europe is the largest market for biodegradable films. North America is emerging as a major consumer of biodegradable films due to the increasing demand from the packaging & bags and consumer goods industries. Asia Pacific was the third-largest biodegradable films market. It is the fastest-growing markets, in terms of biodegradable films production, conversion, and consumption. Factors such as rising environmental degradation, improving environment-related government policies, and an increase in the number of applications are some of the major drivers responsible for the biodegradable films market in Asia Pacific.
BASF SE (Germany), Futamura Chemical Co. Ltd. (Japan), Taghleef Industries (UAE), Walki Group Oy (Finland), Kingfa Sci. & Tech. Co., Ltd. (China), BioBag Americas, Inc. (US), Avery Dennison Corporation (US), Plascon Group (US), Bi-Ax International Inc. (Canada), Cortec Corporation (US), Clondalkin Group (Netherlands), TRIOWORLD INDUSTRIER AB (Sweden), Groupe Barbier (France), Paco Label (US), Layfield Group (Canada), and Polystar Plastics Ltd. (UK) are the key players in biodegradable films market.
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