Market Dynamics
The Middle East & Africa asphalt additive market is expected to witness noteworthy growth during the forecast period (2018-2032). This market is driven by the increasing demand for quality construction materials, such as asphalts, valuable for their weather and water resistant properties. The region consists of consumer countries, such as Saudi Arabia, UAE and Qatar, which use the most asphalt, while the production of asphalt is located in Iran, Iraq and Saudi Arabia. The region has numerous active government initiatives, such as Abu Dhabi's sustainability agenda and Qatar's World Cup builds, that are boosting exports of asphalt. Additionally, investments in tourism and infrastructure projects have surged, or are planned to do so, in nations such as Bahrain, Kuwait and Morocco, leading to rising infrastructure works. This has resulted in an increased demand for asphalt for roads, buildings, car parks and airports. The use of asphalt additives such as resins, polymers and fibres have grown in importance due to their superior performance and durability, compared to conventional asphalt products. These additives improve the properties of asphalt to make it more stable, durable, and impermeable to water and dust.
Moreover, local implementation of stricter building codes is likely to create additional demand for asphalt additives, driving the Middle East & Africa asphalt additive market. These materials also reduce the life-cycle cost of construction, as the long-term durability of asphalt surfaces reduces the need for repair works and subsequent roadworks. The region is also witnessing the emergence of a digital platform known as the Digital Tar Management System (DTM), which is an online platform designed to provide reliable, accurate information services and solutions for asphalt production, distribution, and quality control. This further enables large-scale implementation of asphalt additives in the coming years. Additionally, road networks are expanding as a result of rapid urbanization in several nations, which has propelled the demand for asphalt additives. The region is also a major oil exporter, which is why high-quality asphalt additives are on high demand, contributing to the growth of the Middle East & Africa asphalt additive market.
