26 July 2021
Visiongain has published a new report on Building Asphalt Market Report to 2031: Forecasts Market by Category (Polymer-Modified Bitumen, Bitumen Emulsion, Cutback Emulsion, Oxidized Emulsion) Market by Application (Industrial Construction, Infrastructure Development, Residential Buildings, Other Construction) Type (Pit or Bank-Run Aggregates, Processed Aggregates, Synthetic Aggregates, Asphalt Cement, Asphalt Concrete, Cold Mix Asphalt Concrete) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
Visiongain has estimated that the total market for Building Asphalt would be around $xx million in 2020 and is projected to grow at a CAGR of xx% during the forecast period 2021-2031. The black cementing agent known as asphalt has been used for road construction for centuries. Although there are natural deposits of asphalt, or rock asphalt, most used today is produced by the oil refining industry. Asphalt is a constituent of most petroleum and is isolated through the refining process of distillation.
Building Asphalt Market – Our new market research study shows trends, developments, progress in R&D and forecast revenue till 2031. The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
How much to Expect from Building Asphalt Market?
The global building asphalt market is expected to grow at a significant rate over the next eight years owing to Infrastructure developments in emerging economies including India and China. Asphalt is commonly termed as bitumen is the refined residue from the distillation process of selected crude oils. Outside the U.S., it is commonly known as bitumen. It is a black and semi-solid form of rock oil. It is usually found in natural deposits. The most common use of asphalt is in the construction of the road, and the other uses of asphalt are waterproofing products such as sealing the flat roofs and production of roofing. It is a filler and binder which is obtained from refining some particular petroleum crude oils. The asphalt mixture consists of rock, slag, sand, or gravel.
Stiff Competition in the Global Asphalt Market
Key players in the industry are British Petroleum, CEMEX, ExxonMobil, Imperial Oil, Shell Bitumen, Neustar, Nynas, PEMEX, Valero Energy, Marathon Petroleum, Chevron and Royal Dutch Shell, and there are several prominent vendors globally present which include Aggregate Industries, Akzo Nobel, Anglo American, and Atlas Roofing. Several companies are engaged in new product developments, innovation, agreements, collaborations, mergers & acquisitions, and strategic business activities to strengthen their building asphalt market share and increase distribution networks globally. This industry is expected to be highly competitive over the forecast period on account of the incorporation of new processes and developments. Shell Corp. recently launched a fire-resistant asphalt grade which can be applied for application in construction and residential segment.
Asphalt as an engineering and maintenance material is a feature and advantage due to its versatility
Asphalt is produced in a range of grades and varieties from hard-breakable to near-water-thin liquids. The semi-solid shape called asphalt concrete is the basic material of asphalt concrete flooring. Liquid asphalt is generated by mixing or "cutting" asphalt with distilled petroleum or by emulsifying it with water and the emulsifying substance. For numerous purposes and applications, liquid asphalt products may be manufactured. Due to infrastructure expansions in rising economies such as India and China, the global building asphalt industry is predicted to rise at a high rate during the next eight years. Asphalt is commonly termed as bitumen is the refined residue from the distillation process of selected crude oils.
Canada is the largest asphalt supplier in the world
With the strengthening US economy and the growing construction industry, asphalt consumption will increase substantially during the projected period. In addition, primary asphalt is also consumed by the growth of the Canadian and American road networks and will continue to dominate this region. Canada is the world's leading source of asphalt and imports of bitumen are becoming too expensive for countries. North America follows Asia-Pacific, taking huge infrastructure changes in growing economies as China and India into account.
The comprehensive report offers market estimation and forecast for the period ranging 2021 – 2031 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of Building Asphalt.
The Building Asphalt Market Report 2021-2031 report will be of value to anyone who wants to better understand the market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the industry.
Notes for Editors
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