According to IMARC Group’s recent report, titled “Asphalt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global asphalt market reached a value of US$ 80.17 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.
Also known as bitumen, asphalt is a brown or black petroleum-like material with a consistency ranging from glassy solid to viscous liquid. It is obtained from petroleum distillation residue and manufactured at around 150 to 180 degrees Celsius. It helps minimize fuel consumption and carbon emissions from vehicles. Moreover, as it is highly durable, crack-resistant and assists in binding crushed stone and aggregates into a firm, concrete surface, it finds extensive application in the construction of roads, parking areas and driveways across the globe.
The asphalt market is experiencing growth on account of the escalating demand for asphalt shingles that are utilized for waterproofing roofs. Moreover, the rising utilization of reclaimed asphalt pavements (RAP) in parking lots, schools and playground blacktops and residential and commercial driveways is strengthening the market growth. Apart from this, its increasing application in the oil and gas industry, along with the growing need for industrial modernization, is anticipated to drive the market further.
Request for a free PDF sample of this report: https://www.imarcgroup.com/asphalt-market/requestsample
Asphalt Market Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the global asphalt market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global asphalt market on the basis of product, asphalt type, application, end-use sector and region.
Breakup by Product:
Breakup by Asphalt Type:
Breakup by Application:
Breakup by End-Use Sector:
Breakup by Region:
Explore full report with TOC & List of Figure: https://www.imarcgroup.com/asphalt-market
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Browse Related Reports:
Cold Gas Spray Coating Market Report: https://www.imarcgroup.com/cold-gas-spray-coating-market
Expanded Polystyrene Market Report: https://www.imarcgroup.com/expanded-polystyrene-market
Polyester Hot Melt Adhesives Market Report: https://www.imarcgroup.com/polyester-hot-melt-adhesives-market
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.