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

MARKET OVERVIEW

Recycled asphalt, or reclaimed asphalt pavement (RAP), is reprocessed pavement containing asphalt and aggregates. Milling and full-depth removal remain the two main ways reclaimed asphalt is made. Contractors need milling equipment for removing asphalt pavement. Milling removes up to 2 inches of thickness each pass over the underlying pavement. The use of reclaimed asphalt pavement (also known as recycled asphalt pavement, RAP) material is increasing as local, state, and federal transportation agencies make more efficient use of their resources.

MARKET SCOPE

The "Global Recycled 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 recycled asphalt market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading recycled asphalt market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global recycled asphalt market is segmented into hot recycling and cold recycling.
  
•   Based on application, the global recycled asphalt market is segmented into patch material, hot-mix asphalt, temporary driveways & roads, interlocking bricks, energy recovery, and others.
  

MARKET DYNAMICS

Drivers:

•   Rising petroleum prices.
  
•   Rising demand for sustainable construction materials.
  

Restraints:

•   High proportionality of virgin asphalt with frequently fluctuating oil prices.
  

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 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), the Middle East and Africa (MEA), and South America. The recycled 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 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 recycled asphalt market in these regions.

IMPACT OF COVID-19 ON RECYCLED ASPHALT MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The chemicals and materials industry is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products.

MARKET PLAYERS

The report covers key developments in the recycled 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 players from recycled asphalt market are anticipated to witness lucrative growth opportunities in the future with the rising demand for recycled asphalt in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the recycled 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.

•   CertainTeed
  
•   GAF Materials
  
•   Oldcastle Materials
  
•   Owens Corning
  
•   Sinopec
  
•   Shell
  
•   Bitumen Corporation
  
•   Cherry Companies
  
•   Lone Star Paving
  
•   Bodean Company
  

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.

Recycled Asphalt Report Scope