Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Asphalt Market: By Product: Asphalt Paving Mixtures and Blocks, Prepared Asphalt and Tar Roofing and Siding Products, Others; By Asphalt Type; By Application; By End User; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Asphalt Market Outlook

The global asphalt market is expected to grow at a CAGR of 5.3% during the period 2023-2028. The market is expected to be driven by uses of asphalt in expressways all over the world owing to the advantages it offers, including quick construction, easy maintenance, driving comfort and safety, low noise levels, etc. Key markets are projected to be North America, Europe and Asia.

 

Global Asphalt Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Global Market Likely to be Driven by Increasing Construction Activity and Emphasis on Infrastructure Development

Asphalt is a mix of aggregates, binder, and filler that is used to build and maintain roads, parking lots, railway tracks, ports, airport runways, bicycle lanes, walkways, and play- and sports areas. Crushed rock, sand, gravel, or slags are examples of aggregates used in asphalt mixtures. Particular waste and by-products, such as building and demolition debris are employed as aggregates to increase asphalt's long-term durability. Asphalt is largely produced and used for road construction and maintenance of road networks in Europe.

A binder is used to bind the aggregates together into a cohesive mix. While bitumen is the most commonly employed binder, several bio-based binders are being developed to reduce roads’ environmental impact. The road structure above the formation level comprising unbound and bituminous-bound elements constitutes a normal asphalt pavement. Asphalt pavements generally have several layers. Asphalt is produced in a fixed or a mobile mixing plant. In an asphalt plant, up to 800 tonnes of asphalt can be produced each hour. Hot mix asphalt is typically produced at temperatures between 150 and 180°C, however new procedures are now available to manufacture asphalt at lower temperatures.

 

Asphalt is Recyclable, Durable and Cost-efficient; These Features are Expected to Stimulate the Market

Asphalt is recyclable. It is the most recycled product in America. Recycled asphalt mix is also stronger, more durable, and rut-resistant; thus, the recycled product offers superior performance. Being durable, a well-constructed asphalt road is expected to last for fifteen to twenty years. Asphalt is also economical as compared to concrete (asphalt prices may vary with variations in crude oil prices). Due to these features, the global asphalt market is likely to witness greater demand.

 

There are Different Types of Asphalt Mixes Available

Several types of asphalt mixes may be used to extract better performance in different applications. The particular mix employed must possess necessary stiffness and resistance to deformation, and flexural strength to endure pressures resulting from varying volumes of traffic (including heavy vehicles), temperature and weather conditions, noise lessening requirements, etc.

The various types of asphalt mixes include:

Hot Mix Asphalt (HMA) – Generally produced at 150°C to 180 °C.

Warm Mix Asphalt (WMA) – Produced at temperatures nearly 20°C – 40 °C lower than a corresponding Hot Mix Asphalt. In this process, significantly less energy is consumed and lower emissions generated.  Further, the temperature of the mix is lower during paving operations, which offers better working conditions for the crew and enables sooner opening of the road.

Cold Mix Asphalt – Produced without heating the aggregate; the process is made possible by the use of bitumen emulsified in water which breaks down during compaction or mixing. Over the curing time, water vapourises, increasing strength of the mix. Cold mixes are suitable for roads with light traffic.

 

Multiple Applications of Asphalt Expected to Contribute to Growth of Global Asphalt Market

Important applications of asphalt include canal and reservoir linings, dam facings, and harbour and sea works. Asphalt is also used in roofs, coatings, floor tilings, soundproofing, waterproofing, and other building-construction elements. It is also used in several industrial products, such as batteries. These applications are expected to boost market growth.

 

Market Segmentation

 

Global Asphalt Market by Segments

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

By product, the market is segmented into:

  • Asphalt Paving Mixtures and Blocks
  • Prepared Asphalt and Tar Roofing and Siding Products
  • Roofing Asphalts and Pitches, Coatings and Cement

By asphalt type, the market is divided into:

  • Hot Mix Asphalt
  • Warm Mix Asphalt
  • Cold Mix Asphalt

By application, the market is classified into:

  • Roadways
  • Waterproofing
  • Recreation
  • Others

By end user, the market is segmented into:

  • Residential
  • Non-Residential

By region, the market is divided into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Global Asphalt Market by Region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Key Industry Players in the Global Asphalt Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Aggregate Industries Ltd.
  • Anglo American Plc
  • Atlas Roofing Corporation
  • BP Plc
  • Cemex
  • Chevron Corporation
  • Exxon Mobil Corporation
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Asphalt Type
  • Application
  • End User
  • 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
  • Roadways
  • Waterproofing
  • Recreation
  • Others
Breakup by End User
  • Residential
  • Non-Residential
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Price Analysis
  • Historical Price Trends
  • Forecast Price Trends
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Aggregate Industries Ltd.
  • Anglo American Plc
  • Atlas Roofing Corporation
  • BP Plc
  • Cemex
  • Chevron Corporation
  • Exxon Mobil Corporation
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Asphalt Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Asphalt Historical Market (2018-2022) 
    8.3    Global Asphalt Market Forecast (2023-2028)
    8.4    Global Asphalt Market by Product
        8.4.1    Asphalt Paving Mixtures and Blocks
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Prepared Asphalt and Tar Roofing and Siding Products
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Roofing Asphalts and Pitches, Coatings and Cement
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
    8.5    Global Asphalt Market by Asphalt Type
        8.5.1    Hot Mix Asphalt
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Warm Mix Asphalt
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Cold Mix Asphalt
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Asphalt Market by Application
        8.6.1    Roadways
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Waterproofing
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Recreation
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Others
    8.7    Global Asphalt Market by End User 
        8.7.1    Residential
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Non-Residential    
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
    8.8    Global Asphalt Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5        Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Asphalt Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Asphalt Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Asphalt Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Asphalt Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East  and Africa Asphalt Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Trade Data Analysis (HS code – 271490)
    14.1    Major Importing countries:  by Value
    14.2    Major Exporting countries:  by Value
    14.3    Major Importing countries:  by Volume
    14.4    Major Exporting countries:  by Volume
15    Price Analysis
16    Market Dynamics

    16.1    SWOT Analysis
        16.1.1    Strengths
        16.1.2    Weaknesses
        16.1.3    Opportunities
        16.1.4    Threats
    16.2    Porter’s Five Forces Analysis
        16.2.1    Supplier’s Power
        16.2.2    Buyer’s Power
        16.2.3    Threat of New Entrants
        16.2.4    Degree of Rivalry
        16.2.5    Threat of Substitutes
    16.3    Key Indicators for Demand
    16.4    Key Indicators for Price
17    Value Chain Analysis
18    Competitive Landscape

    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    Aggregate Industries Ltd.
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Anglo American Plc
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Atlas Roofing Corporation
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    BP Plc
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Cemex
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Chevron Corporation
            18.2.6.1    Company Overview
            18.2.6.2    Product Portfolio
            18.2.6.3    Demographic Reach and Achievements
            18.2.6.4    Certifications
        18.2.7    Exxon Mobil Corporation
            18.2.7.1    Company Overview
            18.2.7.2    Product Portfolio
            18.2.7.3    Demographic Reach and Achievements
            18.2.7.4    Certifications
        18.2.8    Others
19    Key Trends and Developments in the Market
 

List of Figures and Tables

1.    Global Asphalt Market: Key Industry Highlights, 2018 and 2028
2.    Global Asphalt Historical Market: Breakup by Product (USD Million), 2018-2022
3.    Global Asphalt Market Forecast: Breakup by Product (USD Million), 2023-2028
4.    Global Asphalt Historical Market: Breakup by Asphalt Type (USD Million), 2018-2022
5.    Global Asphalt Market Forecast: Breakup by Asphalt Type (USD Million), 2023-2028
6.    Global Asphalt Historical Market: Breakup by Application (USD Million), 2018-2022
7.    Global Asphalt Market Forecast: Breakup by Application (USD Million), 2023-2028
8.    Global Asphalt Historical Market: Breakup by End User Sector (USD Million), 2018-2022
9.    Global Asphalt Market Forecast: Breakup by End User Sector (USD Million), 2023-2028
10.    Global Asphalt Historical Market: Breakup by Region (USD Million), 2018-2022
11.    Global Asphalt Market Forecast: Breakup by Region (USD Million), 2023-2028
12.    North America Asphalt Historical Market: Breakup by Country (USD Million), 2018-2022
13.    North America Asphalt Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Europe Asphalt Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Europe Asphalt Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Asia Pacific Asphalt Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Asia Pacific Asphalt Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Latin America Asphalt Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Latin America Asphalt Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Middle East and Africa Asphalt Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Middle East and Africa Asphalt Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Global Asphalt Market Structure

Key Questions Answered in the Report

The global asphalt market is projected to grow at a CAGR of 5.3% between 2023 and 2028.

The major drivers of the market include the rising uses of asphalt in expressways all over the world, rapid urbanisation, increasing population, growing demand from the oil and gas industry, and increasing adoption of emulsified asphalt along with polymer modified asphalt.

Increasing construction activity and growing emphasis on infrastructure development are the key industry trends propelling the market's growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various products in the market are asphalt paving mixtures and blocks, prepared asphalt and tar roofing and siding products, roofing asphalts and pitches, coatings and cement.

The different types of asphalt are hot mix asphalt, warm mix asphalt, and cold mix asphalt.

The significant applications include roadways, waterproofing, and recreation, among others.

The end-users of the market are residential and non-residential.

The major players in the industry are Aggregate Industries Ltd., Anglo American Plc, Atlas Roofing Corporation, BP Plc, Cemex, Chevron Corporation, and Exxon Mobil Corporation, among others.

Analyst Review

The global asphalt market was driven by the increasing construction activity in the historical period. Aided by the use of asphalt in expressways all over the world and the growing emphasis on infrastructure development, the market is expected to witness further growth in the forecast period of 2023-2028, growing at a CAGR of 5.3%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The various products in the market are asphalt paving mixtures and blocks, prepared asphalt and tar roofing and siding products, and roofing asphalts and pitches, coatings and cement. The different types of asphalt are hot mix asphalt, warm mix asphalt, and cold mix asphalt. The significant applications include roadways, waterproofing, and recreation, among others. The end-users of the market are residential and non-residential. The major regional markets for asphalt are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Aggregate Industries Ltd., Anglo American Plc, Atlas Roofing Corporation, BP Plc, Cemex, Chevron Corporation, and Exxon Mobil Corporation, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

Purchase Full Report

Mini Report

$1499
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$2699
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

$3699
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$4699
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER