Asphalt Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Asphalt or bitumen is a black, sticky and highly viscous semi-solid or liquid form of petroleum. These components are found in natural deposits or may be produced as a refined product. Asphalts are also provided as a petroleum byproduct. Both asphalts and its byproduct substances are mostly soluble in carbon disulfide. They are of variable consistency, ranging from highly viscous fluid to a solid. Asphalts occur with or without mineral matter. The most important application of asphalt includes road construction, in which it is mostly used as binder mixed with aggregate particles so as to create asphalt concrete.

MARKET DYNAMICS

The global asphalt market is growing at a significant rate owing to driving factors such as, rising construction industry especially in the emerging economies which includes China, India and Brazil and increasing building construction expenditures. Moreover, the rising use of recycled asphalt pavement (RAP) will result in the growing demand for asphalt emulsions as emulsions are blended with old pavements to reconstruct worn highway surfaces and repair damaged highways. Rapidly expanding road infrastructure and rising investments in infrastructure projects further propel the growth of the market. However, higher prices of raw material are anticipated to hamper the growth of the market over the forecast period.

MARKET SCOPE

The "Global Asphalt Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the asphalt market with detailed market segmentation by type, application and geography. The global asphalt market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading asphalt market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global asphalt market is segmented on the basis of type and application. On the basis of type, the asphalt market is segmented into, paving petroleum asphalt, industrial petroleum asphalt and others. Based on application, the global asphalt market is segmented into, roadways, waterproofing, recreation and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global asphalt market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The asphalt market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the asphalt market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the asphalt market in these regions.

MARKET PLAYERS

The reports cover key developments in the asphalt market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from asphalt market are anticipated to lucrative growth opportunities in the future with the rising demand for asphalt in the global market. Below mentioned is the list of few companies engaged in the asphalt market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the asphalt market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last 3 years, the key development in the past five years.

• BP Plc
• CEMEX S.A.B. de C.V.
• Exxon Mobil Corporation.
• Imperial Oil Limited
• Nynas AB
• Owens Corning
• Petroleos de Venezuela, SA.
• Royal Dutch Shell plc, 
• Sinopec Corp.
• Total S.A.  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.


 

 

 

Asphalt Report Scope