ASPHALT ADDITIVES MARKET ANALYSIS

Market News

Key Development

1. Major companies in the market are involved in various business strategies such as new product launches, in order to expand their product portfolio. For instance, in June 2019, Evonik Industries AG, a provider of specialty chemicals, launched VESTENAMER, which is a process additive that allows rubber to be efficiently processed into a tough material. This could be used in various applications such as road constructions, playgrounds, and more.
2. Key players in the market are involved in various growth strategies such as merger and acquisition, in order to gain competitive edge in the market. For instance, in May 2017, ArrMaz, a specialty chemicals provider, acquired asphalt additive manufacturer MaxxChem LLC. The MaxxChem business will was included into ArrMaz’s Road Science Division.
3. Major market players are adopting merger and acquisition strategies, in order to enhance their global market position. For instance, in May 2019, Arkema S.A, a France-based chemicals company, acquired asphalt additives and surfactant maker ArrMaz from Golden Gate Capital, a private equity firm.