Asphalt modifier is the petroleum by-product, one of the oldest materials used in several fields, such as the construction of roads, waterproofing products, pavement, and roofing. According to BlueQuark Research and Consulting, the global Asphalt Modifiers market is expected to grow considerably during the forecasted period. Factors such as increasing demand for the infrastructure sector due to its rigid properties are expected to drive the need for the Asphalt modifier market in the forecasted period. Further, rapid development and commercialization of eco-friendly recyclable asphalt, rising use of warm mix asphalt, and expanding use of asphalt modifiers in roofing applications will offer various growth opportunities for organic asphalt modifiers market in the forecast as mentioned above period. Furthermore, High traffic volume and heavier loads on roadways, deferred infrastructure maintenance, emphasis on meeting super-save design specifications, increased pavement work-life, and reduced MRO cost advantages are expected to drive the demand for the market during the forecast period. However, during the construction process, the bituminous components present in the asphalt modifier are deposited and absorbed by the soil, thereby harming the soil environment. Pollutants from asphalt particles worn out by tires are toxic organic polycyclic aromatic hydrocarbons, which also cause water pollution. The factors mentioned earlier are the restraining factor.

Asphalt concrete mixture has been an important construction material for roads, airport runways, taxiways, bicycle paths, etc. Modifiers, such as binder modifiers (such as polymers, elastomers, fibers, and rubber ) and aggregate modifiers (such as lime, granulated rubber, and anti-strip agents) are used to improve the performance of asphalt pavements in terms of increased resistance to pavement distresses, such as thermal cracking, rutting, stripping, etc., thereby prolonging the service life. The demand for asphalt modifiers directly correlates with ongoing road construction activities worldwide. The mixture of several additives such as polymers, latex, fibers, and many chemicals increases asphalt modifier pavement performances. This amalgamation increases durability, excellent resistance to permanent deforming, and prevents thermal cracking. It also increases stiffness and decreases fatigue. The purpose of these modifiers is to bind stiffness at standard temperature and to increase rut resistance, simultaneously reducing its stiffness at low temperatures to improve its resistance to thermal cracking. Some of its bituminous polymer additives include elastomers, Crumb Rubber (GTR), Bio binders, and non-bituminous such as antioxidants, anti-stripping agents, stiffening agents, polyphosphoric acid, and Gilsonite. The asphalt modifiers improve the paving process by controlling the rutting, cracking, and lumping. It helps enhance the workability of the asphalt mix and improves resistance to weathering and oxidation. Using asphalt modifiers can help producers save time and money while producing better pavement. In Paving, asphalt modifiers are used as an additive to the hot mix asphalt (HMA) to improve its properties. Some common modifiers used in Paving are plasticizers, antioxidants, anti-stripping agents, and emulsifiers. Highways must also be increasingly retrofitted or developed with high occupancy vehicle lanes to encourage ride-sharing or car-pooling. This trend is expected to drive the demand for asphalt pavements, driving the need for asphalt modifiers.

Asia Pacific dominated the global market. Recently, the Chinese construction industry developed rapidly due to the central government's push for infrastructure investment to sustain economic growth. To improve the durability of road construction, modifiers such as adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are used to increase resistance to pavement discomfort, such as thermal cracking, rutting, stripping, and more, thus prolonging the service life. The global market for asphalt modifiers has experienced above-normal growth in recent years. Incremental improvements in the consumption of mobility and transport are expected to be experienced over the coming decades. The road construction segment held the largest global asphalt modifiers market share. The demand for adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin-based asphalt additives in these nations is projected to be driven by increasing road and highway-building activities. The increase in expenditure on infrastructure in various countries can be attributed to the increasing construction of roads and highways for improved transportation and enhanced connectivity between critical economic centers in these countries. Asphalt modifiers based on adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are mainly used for waterproofing in roofing applications. It's also used in asphalt-saturated felts, roll roofing, and shingles as a saturate. Asphalt shingles are one of the least expensive roofing applications and are witnessing increased demand from the residential and commercial sectors. Asphalt modifiers based on adhesion promoters, flux oil, crumb rubber, polyurethane resin, and phenolic resin are mainly used for waterproofing in roofing applications. It's also used in asphalt-saturated felts, roll roofing, and shingles as a saturate. Asphalt shingles are one of the least expensive roofing applications and are witnessing increased demand from the residential and commercial sectors.

Some market key players are Akzo Nobel N.V., Arkema, Honeywell International Inc ., Engineered Additives LLC, and Dow.

In February 2021, NEWTLAC 5000, a patented asphalt modifier made from recycled PET materials (waste PET), was developed by Kao Corporation. Although traditional asphalt modifiers increase pavement durability, NEWTLAC 5000 's durability is many times greater, resulting in less microplastic output.

Global Asphalt Modifier Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Asphalt modifier Market by segmenting based on Application (Paving, Roofing, and Other Applications), End-user Industry (Physical Modifiers, Chemical Modifiers, Fibers, Adhesion Improvers, Extenders, Fillers, Antioxidants, Anti-strip Modifiers, and Others) and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report examines the market drivers and restraints and the impact of Covid-19 on market growth in detail. The study covers emerging market trends, development, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.