The Global Emulsified Modified Asphalt Market was valued at USD 3.2 Billion in 2024 and is projected to reach USD 5.8 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period (2024–2032). This robust growth is fueled by massive global infrastructure development, the rising demand for durable and sustainable road construction materials, and the superior performance of emulsified modified asphalt in high-stress applications like highways, airport runways, and bridge decks.

As nations worldwide invest heavily in upgrading their transportation networks, the companies formulating and supplying high-performance asphalt emulsions are at the forefront of this construction boom. In this blog, we profile the Top 10 Companies in the Emulsified Modified Asphalt Industry—a mix of global energy giants, specialized chemical producers, and regional leaders driving innovation in pavement technology.

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🔟 1. ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Polymer-modified Asphalt Emulsions, Latex-modified Emulsions

ExxonMobil is a dominant force in the asphalt market, leveraging its extensive hydrocarbon processing expertise to produce high-quality emulsified modified asphalts. Their products are engineered for enhanced durability, elasticity, and resistance to rutting and cracking, making them ideal for demanding infrastructure projects globally.

Innovation Initiatives:

• Investment in advanced polymer modification technologies

• Development of low-temperature application emulsions for cold climates

• Focus on reducing the carbon footprint of asphalt production

Download FREE Sample Report: Emulsified Modified Asphalt Market – View in Detailed Research Report

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9️⃣ 2. Royal Dutch Shell plc

Headquarters: London, United Kingdom
Key Offering: Shell Bitumen emulsions, Shell Cariphalte® modified binders

Shell’s global bitumen business supplies a wide range of emulsified modified asphalts for road construction and maintenance. Their technical services and R&D focus on improving pavement longevity and performance, particularly in extreme weather conditions.

Innovation Initiatives:

• Development of warm-mix asphalt technologies to reduce energy consumption

• Research into bio-based additives for sustainable asphalt solutions

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8️⃣ 3. TotalEnergies SE

Headquarters: Paris, France
Key Offering: TotalEnergies Emulsions, Styrelf® polymer-modified binders

TotalEnergies is a leading European supplier of bitumen and emulsified asphalt products. The company offers specialized emulsions for surface dressing, microsurfacing, and cold recycling, supporting circular economy principles in road construction.

Innovation Initiatives:

• Pioneering cold mix asphalt technologies for reduced emissions

• Expansion of product lines for high-stress applications like airport runways

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7️⃣ 4. Sinopec

Headquarters: Beijing, China
Key Offering: SBS-modified asphalt emulsions, High-viscosity modified asphalts

As China’s largest petroleum refiner, Sinopec plays a critical role in supplying asphalt for the country’s massive infrastructure programs, including the Belt and Road Initiative. The company produces a wide array of modified asphalt emulsions tailored for heavy traffic loads and varied climates.

Innovation Initiatives:

• Large-scale production of SBS-modified asphalt for highways

• Research into graphene-modified asphalt for superior performance

Download FREE Sample Report: Emulsified Modified Asphalt Market – View in Detailed Research Report

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6️⃣ 5. BPCL (Bharat Petroleum Corporation Limited)

Headquarters: Mumbai, India
Key Offering: MAK Bitumen emulsions, Polymer Modified Bitumen (PMB)

BPCL is a key supplier of emulsified modified asphalts in India, supporting the country’s ambitious road development projects like Bharatmala Pariyojana. Their products are designed to withstand the subcontinent’s high temperatures and monsoon conditions.

Innovation Initiatives:

• Development of crumb rubber modified asphalt from recycled tires

• Expansion of PMB production capacity to meet growing domestic demand

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5️⃣ 6. Nynas AB

Headquarters: Stockholm, Sweden
Key Offering: Nypol® polymer-modified bitumen emulsions, Specialty naphthenic binders

Nynas is a global specialty oils and bitumen producer known for its high-performance emulsion technologies. The company focuses on niche applications requiring superior adhesion, flexibility, and aging resistance.

Innovation Initiatives:

• Expertise in naphthenic bitumen for high-quality emulsions

• Development of low-emission bitumen products for urban environments

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4️⃣ 7. Gazprom Neft PJSC

Headquarters: Saint Petersburg, Russia
Key Offering: G-Way Styrelf modified binders, Bitumen emulsions

Gazprom Neft is a major bitumen producer in Russia and the CIS region, supplying modified asphalt emulsions for extensive road networks and extreme climate applications. The company has invested significantly in modernizing its bitumen production facilities.

Innovation Initiatives:

• Development of cold recycling technologies for road rehabilitation

• Production of polymer-bitumen binders for heavy-duty pavements

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3️⃣ 8. TIPCO ASPHALT

Headquarters: Bangkok, Thailand
Key Offering: Polymer Modified Asphalt, Asphalt Emulsions, Crumb Rubber Modified Asphalt

TIPCO ASPHALT is a leading Asian supplier with a strong focus on innovative asphalt solutions. The company provides a comprehensive range of modified emulsions for various climatic conditions and application methods across Southeast Asia.

Innovation Initiatives:

• Investment in recycling technologies for sustainable asphalt production

• Expansion of product portfolio for specialized industrial applications

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2️⃣ 9. Toaroad Corporation

Headquarters: Koto-ku, Tokyo, Japan
Key Offering: High-performance asphalt emulsions, Modified asphalt for pavements

Toaroad Corporation specializes in advanced pavement materials and technologies. The company is known for its research-driven approach to developing emulsified modified asphalts that meet Japan’s stringent quality and durability standards.

Innovation Initiatives:

• Focus on earthquake-resistant and quick-setting asphalt formulations

• Development of porous asphalt emulsions for water drainage

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1️⃣ 10. Walker Industries

Headquarters: Niagara Falls, Ontario, Canada
Key Offering: Colas emulsified asphalts, Customized asphalt emulsions

Walker Industries, through its subsidiary Colas, is a key player in the North American market for emulsified asphalt. The company focuses on sustainable practices, including the use of recycled materials and low-temperature asphalt technologies.

Innovation Initiatives:

• Integration of recycled asphalt pavement (RAP) in emulsion production

• Development of environmentally friendly emulsion formulations

Get Full Report Here: Emulsified Modified Asphalt Market – View in Detailed Research Report

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🌍 Outlook: The Future of Emulsified Modified Asphalt Is Smarter and More Sustainable

The emulsified modified asphalt market is undergoing a significant transformation. While conventional products continue to serve essential needs, the industry is rapidly adopting innovative formulations, recycling technologies, and sustainable practices to meet the demands of modern infrastructure.

📈 Key Trends Shaping the Market:

• Rising adoption of cold mix technologies to reduce energy consumption and emissions

• Increased use of recycled materials like RAP and crumb rubber in asphalt emulsions

• Development of bio-based modifiers and additives for greener asphalt solutions

• Digitalization of asphalt production and application processes for quality control

Get Full Report Here: Emulsified Modified Asphalt Market – View in Detailed Research Report

The companies listed above are not only supplying essential construction materials—they’re pioneering the sustainable infrastructure of tomorrow.