Fort Collins, Colorado, May 02, 2024 (GLOBE NEWSWIRE) --
Rise in developments in the construction industry enhances the industry growth.
The growth of the construction industry catalyzes the demand for asphalt release agents. Increasing construction activities globally, particularly in developing regions, drive the need for these agents. Infrastructure projects, road construction, and residential/commercial building activities are key drivers of demand for asphalt release agents. Urbanization and population growth further fuel the demand for infrastructure projects, increasing the need for asphalt release agents. These agents enable construction companies to enhance operational efficiency, reduce construction time, and achieve optimal results. As the global infrastructure landscape expands, the asphalt release agent market is expected to grow in tandem, offering essential solutions to the challenges associated with large-scale construction projects.
Furthermore, stringent environmental regulations regarding release agent usage may increase demand for eco-friendly and compliant products. Regulatory standards and guidelines related to worker safety and environmental impact can significantly influence the choice of asphalt release agents. A noteworthy trend in response to environmental concerns is the development of bio-based asphalt release agents. These agents utilize renewable resources, such as plant-derived materials, to formulate products that minimize environmental impact. Bio-based release agents adhere to regulatory standards and align with the industry's commitment to sustainability. The reduced environmental footprint of these agents positions them as preferred choices for construction projects seeking to meet stringent eco-friendly criteria.
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Segmentation Overview:
The asphalt release agent market has been segmented into type, application, and region.
Solvent-based release coatings accounted for a significant market share in 2023
- The asphalt release agent market is segmented by type as solvent-based and water-based. Solvent-based release coatings hold a major share of the type segment, and as of 2023, they hold approximately 65% of the total share.
Truck beds registered a significant market share in 2023
- The asphalt release agent market is segmented by application, into truck beds, pavers, rollers, and others. Truck beds hold a major share of the application segment, 39% of the total share as of 2023.
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Asphalt Release Agent Market Report Highlights:
- The asphalt release agent market growth is anticipated at a CAGR of 6.5% by 2032.
- The growth of the construction industry backs the demand for asphalt release agent agents. Increasing construction activities worldwide, especially in developing regions, contribute to the market for these agents.
- The Asia Pacific region plays a crucial role in shaping the future of the asphalt release agent industry due to the large scale of construction activities, technological adoption, and the region's potential to lead in sustainable and innovative construction practices.
- Some prominent players in the asphalt release agent market report include Zep Inc., Miller Stephenson Chemicals, SoySolv Biosolvents LLC, Rhomar Industries, Meyer Laboratory, FUCHS, TecTeam LLC, Zeller+Gmelin, L&L Quality Products, McGee Industries, Inc., and others.
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