According to IMARC Group’s report, titled “Asphalt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global asphalt market grew at a CAGR of around 4% during 2014-2019. Looking forward, IMARC Group expects the market to exhibit moderate growth by 2025.
Also known as bitumen, asphalt is a brown or black petroleum-like material with a consistency ranging from glassy solid to viscous liquid. It is obtained from petroleum distillation residue and manufactured at around 150 to 180 degrees Celsius. It helps minimize fuel consumption and carbon emissions from vehicles. Moreover, as it is highly durable, crack-resistant and assists in binding crushed stone and aggregates into a firm, concrete surface, it finds extensive application in the construction of roads, parking areas and driveways across the globe.
The asphalt market is experiencing growth on account of the escalating demand for asphalt shingles that are utilized for waterproofing roofs. Moreover, the rising utilization of reclaimed asphalt pavements (RAP) in parking lots, schools and playground blacktops and residential and commercial driveways is strengthening the market growth. Apart from this, its increasing application in the oil and gas industry, along with the growing need for industrial modernization, is anticipated to drive the market further.
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Asphalt Market 2020-2025 Competitive Analysis and Segmentation:
The competitive landscape of the global asphalt market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Aggregate Industries Ltd.
- Anglo American Plc
- Atlas Roofing Corporation
- BP Plc
- Chevron Corporation
- Exxon Mobil Corporation
- Imperial Oil Limited
- Owens Corning
- Petroleos de Venezuela S.A
- Royal Dutch Shell plc
- Shell International
- Total SA
- United Refining Inc.
The report has segmented the global asphalt market on the basis of product, asphalt type, application, end-use sector and region.
Breakup by Product:
- Asphalt Paving Mixtures and Blocks
- Prepared Asphalt and Tar Roofing and Siding Products
- Roofing Asphalts and Pitches, Coatings and Cement
Breakup by Asphalt Type:
- Hot Mix Asphalt
- Warm Mix Asphalt
- Cold Mix Asphalt
Breakup by Application:
Breakup by End-Use Sector:
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore full report with TOC & List of Figure: https://www.imarcgroup.com/asphalt-market
Key highlights of the report:
- Market Performance (2014-2019)
- Market Outlook (2020-2025)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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