Precision Business Insights has published a report on the global asphalt market, estimating its value at USD 268.71 Million in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/asphalt-market
The asphalt market focuses on the manufacturing and application of asphalt, a petroleum-derived viscous substance used largely in road buildings, roofing, and waterproofing. Asphalt, which is made from bitumen-bound aggregates, is long-lasting, water-resistant, and inexpensive. Its adaptability extends to roads, airport runways, parking lots, and industrial areas.
Drivers:
- Rising investments in roads, airports, and urban mobility projects
- Growing preference for recycled and low-temperature asphalt solutions
The global asphalt market segmentation:
1) By Product: Asphalt Paving Mixtures and Blocks, Prepared Asphalt & Tar Roofing & Siding Products, Roofing Asphalts & Pitches, and Coatings & Cement
2) By Asphalt Type: Hot Mix Asphalt, Warm Mix Asphalt, and Cold Mix Asphalt
3) By Application: Roadways, Waterproofing, Recreation, and Others
4) By End User: Non-Residential, Residential, and Others
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Regional Overview:
The report also examines the current concerns and their Future Effects on the asphalt market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the asphalt market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like Aggregate Industries Ltd., Anglo American Plc, Atlas Roofing Corporation, BP Plc, Cemex, Chevron Corporation, Exxon Mobil Corporation, Imperial Oil Limited, Owens Corning, Petroleos de Venezuela S.A, Royal Dutch Shell plc, Shell International, Total SA
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