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GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

Ankita Roy, Treesha Banerjee and Liza Dsouza from Global Market Estimates throw the spotlight on
the growing Asphalt Market

Asphalt Market Insights:

The volume of asphalt market in the U.S. is anticipated to reach approximately 30 million tons by
2025. Demand for asphalt in highway and street applications is likely to yield strong gains due to
increased government funding.

One of the major factors driving the growth of this market is advancement in transportation sector
and infrastructural development. Some of the developing countries still face problem of unpaved
roads that extend for considerable distances.

Unpaved roads accounted for 4.5 million kilometres, worldwide, out of which the U.S. accounted for
more than 2 million kilometres. Other factors hindering the growth of this market are sustainability
and environmental issues.

The chemical nature of asphalt enables it to stiffen immediately after application; its durability is
reduced over time. The hardening of asphalt is favourable to a certain extent in order to minimize
temperature susceptibility. These drawbacks of asphalt could lead in the replacement of concrete
for asphalt, thereby limiting the market growth.

Regional Analysis (2016 vs 2025)

USD Million

North Europe Asia Pacific Middle East Centra &

America & Africa South
America

2016 2025

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GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

Product Insights:

Modernization of pavement technologies has been one of the latest trends gaining importance in
the market. The demand for porous asphalt is anticipated to increase due to its cost effectiveness
and ability to channelize water to flow in a desired way. Paving products accounted for more than
half of the consumption of asphalt. It is anticipated to remain the dominant application over the
years. The demand for asphalt in roofing products is expected to grow moderately due to increased
expenditures on construction activity.

Application Insights:

Asphalt is mostly used in road construction as a glue or binder and when mixed with aggregate
particles forms asphalt concrete. Other applications of asphalt include manufacturing of roofing felt
and bituminous waterproofing products among others.

The global demand for asphalt is anticipated to increase on account of increasing construction
activity particularly in the emerging economies such as China, India, and Brazil. Other applications
which stimulate demand for asphalt include paving products such as asphalt cement, asphalt
emulsions & cutback asphalt, roofing products such as asphalt shingles, roofing membranes
modified bitumen, mopping asphalts, and standard asphaltic roofing felts among others.

End User Insights:

End users mainly include market segments such as residential buildings, non-residential buildings
among others. The residential market is anticipated to witness rapid growth as substantial gains
from stand-alone housing is likely to trigger the demand for asphalt shingles.

Moreover, the increasing application of recycled asphalt pavement is anticipated to result in growing
demand for asphalt emulsions. Considering the non-residential market segment, increased
expenditures on construction is expected to aid the demand for low-slope roofing products like roll
roofing, modified bitumen membranes among others.

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GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

Regional Insights:

North America is expected to command the global asphalt market over the forecast period.
Expansion of the transport and construction sector in this region is the major contributor to the
growth of asphalt market. These regions contribute to such high demand due to length of the U.S.
and Canadian road networks. Moreover, the rise in the consumption of asphalt for roofing is also
likely to stimulate growth in the global asphalt market over the forecast period.

Unpaved roads in the U.S. accounted for more than 2 million kilometres. Countries such as China,
Canada, India, and Switzerland also have large stretches of unpaved roads. Urbanization and
industrialization corresponding to the increased requirement of paved roads is likely to impact sale
and consumption of asphalt in a positive way.

End Use Landscape:

The end-use landscape includes a list of current and prospective consumers existing across the
regions. This section provides company addresses, contact details, products, and regional presence
of companies who are purchasing or are likely to purchase from asphalt market. The major
consumers of the product are Kiewit, Bouygues Construction, and Skanska.

Market Share Analysis (2017)

Company A Company B Company C Company D Others

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GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

Competitor Analysis

Some of the major players of the market include Aggregate Industries, Akzo Nobel, Anglo American,
Atlas Roofing, China Petrochemical Corporation (Sinopec) ,El Dorado Chemical, Inland Asphalt and
United Refining.

In September 2009, Sinopec announced plans to establish Sinopec Refining & Marketing Co. In April
2011, the company over took wax and sulphur business. By 2015 the business included the
production of asphalt, petroleum coke, petroleum wax and sulphur. The companys activities are
linked with 25 Sinopec refining subsidiaries and hence, it has established branch offices in more than
20 Sinopec refineries.

The report segments the Asphalt Market on the basis of:

By Product:

Paving Asphalt
Roofing Asphalt

By Application:

Roadways
Waterproofing
Recreation
Others

By End-User:

Non-residential Construction
Residential Construction
Others

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GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS

By Region:

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa

* This article contains text from the Asphalt Market Forecast to 2025 report prepared by Global
Market Estimates. For more information or to buy the report, please visit:
https://www.globalmarketestimates.com/asphalt-market-analysis-forecasts-2025/

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