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Asphalt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

March 2023 | 145 pages | ID: AD9B61945627EN
IMARC Group

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Market Overview:

The global asphalt market size reached US$ 234.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 328.8 Million by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Asphalt is a black colored and semi-solid binding material obtained from petroleum distillation residue. Manufactured at an average temperature of 150 to 180°C, asphalt is highly durable and crack-resistant. It is primarily used in the construction of roads, parking areas and driveways as it binds crushed stone and aggregates into the firm and concrete surfaces such as roads and pavements. Smoothly laid asphalt helps in minimizing fuel consumption and emissions in vehicles and adds to the safety by providing better grip to the wheels.

Rapid urbanization across the globe is one of the key factors driving the growth of the market. With the increasing population, there is a huge demand for asphalt shingles that are used for waterproofing roofs. Furthermore, asphalt serves as a more cost-effective and durable alternative to the conventionally used concrete in the construction industry. Moreover, the increasing usage of reclaimed asphalt pavements (RAP) in residential and commercial driveways, parking lots, and schools and playground blacktops are catalyzing the market growth. It is also used as an emulsion to reconstruct highway surfaces and old pavements. Additionally, increasing demand from the industrial sector for low-slope roofing products such as modified bitumen membranes, mopping asphalts and roll roofing is driving the growth of the market further. Other factors such as growing demand from the oil and gas industry, the rising need for industrial modernization and increasing adoption of emulsified asphalt along with polymer modified asphalt is also creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global asphalt market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, asphalt type, application and end-use sector.

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-Use Sector:

Non-Residential
Residential
Others


Breakup by Region:

North America

United States
Canada

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 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, United Refining Inc., etc.

Key Questions Answered in This Report:

What was the size of the global asphalt market in 2022?
What is the expected growth rate of the global asphalt market during 2023-2028?
What has been the impact of COVID-19 on the global asphalt market?
What are the key factors driving the global asphalt market?
What is the breakup of the global asphalt market based on the product?
What is the breakup of the global asphalt market based on the asphalt type?
What is the breakup of the global asphalt market based on the application?
What are the key regions in the global asphalt market?
Who are the key players/companies in the global asphalt market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL ASPHALT MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY PRODUCT

6.1 Asphalt Paving Mixtures and Blocks
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Prepared Asphalt and Tar Roofing and Siding Products
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Roofing Asphalts and Pitches, Coatings and Cement
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY ASPHALT TYPE

7.1 Hot Mix Asphalt
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Warm Mix Asphalt
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Cold Mix Asphalt
  7.3.1 Market Trends
  7.3.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Roadways
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Waterproofing
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Recreation
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Others
  8.4.1 Market Trends
  8.4.2 Market Forecast

9 MARKET BREAKUP BY END-USE SECTOR

9.1 Non-Residential
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Residential
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Others
  9.3.1 Market Trends
  9.3.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE INDICATORS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Aggregate Industries Ltd.
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
  15.3.2 Anglo American Plc
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
    15.3.2.4 SWOT Analysis
  15.3.3 Atlas Roofing Corporation
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
  15.3.4 BP Plc
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
    15.3.4.3 Financials
    15.3.4.4 SWOT Analysis
  15.3.5 Cemex
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
    15.3.5.3 Financials
    15.3.5.4 SWOT Analysis
  15.3.6 Chevron Corporation
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
    15.3.6.3 Financials
    15.3.6.4 SWOT Analysis
  15.3.7 Exxon Mobil Corporation
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
    15.3.7.3 Financials
    15.3.7.4 SWOT Analysis
  15.3.8 Imperial Oil Limited
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
    15.3.8.3 Financials
    15.3.8.4 SWOT Analysis
  15.3.9 Owens Corning
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
    15.3.9.3 Financials
    15.3.9.4 SWOT Analysis
  15.3.10 Petroleos de Venezuela S.A
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio
  15.3.11 Royal Dutch Shell plc
    15.3.11.1 Company Overview
    15.3.11.2 Product Portfolio
    15.3.11.3 SWOT Analysis
  15.3.12 Shell International
    15.3.12.1 Company Overview
    15.3.12.2 Product Portfolio
    15.3.12.3 Financials
  15.3.13 Total SA
    15.3.13.1 Company Overview
    15.3.13.2 Product Portfolio
    15.3.13.3 Financials
    15.3.13.4 SWOT Analysis
  15.3.14 United Refining, Inc.
    15.3.14.1 Company Overview
    15.3.14.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Asphalt Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Asphalt Market Forecast: Breakup by Product (in Million US$), 2023-2028
Table 3: Global: Asphalt Market Forecast: Breakup by Asphalt Type (in Million US$), 2023-2028
Table 4: Global: Asphalt Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Asphalt Market Forecast: Breakup by End-Use Sector (in Million US$), 2023-2028
Table 6: Global: Asphalt Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Asphalt Market Structure
Table 8: Global: Asphalt Market: Key Players


LIST OF FIGURES

Figure 1: Global: Asphalt Market: Major Drivers and Challenges
Figure 2: Global: Asphalt Market: Sales Value (in Million US$), 2017-2022
Figure 3: Global: Asphalt Market: Breakup by Product (in %), 2022
Figure 4: Global: Asphalt Market: Breakup by Asphalt Type (in %), 2022
Figure 5: Global: Asphalt Market: Breakup by Application (in %), 2022
Figure 6: Global: Asphalt Market: Breakup by End-Use Sector (in %), 2022
Figure 7: Global: Asphalt Market: Breakup by Region (in %), 2022
Figure 8: Global: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 9: Global: Asphalt (Asphalt Paving Mixtures and Blocks) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Asphalt (Asphalt Paving Mixtures and Blocks) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Asphalt (Prepared Asphalt and Tar Roofing and Siding Products) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Asphalt (Prepared Asphalt and Tar Roofing and Siding Products) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Asphalt (Roofing Asphalts and Pitches, Coatings and Cement) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Asphalt (Roofing Asphalts and Pitches, Coatings and Cement) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Asphalt (Hot Mix Asphalt) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Asphalt (Hot Mix Asphalt) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Asphalt (Warm Mix Asphalt) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Asphalt (Warm Mix Asphalt) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Asphalt (Cold Mix Asphalt) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Asphalt (Cold Mix Asphalt) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Asphalt (Roadways) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Asphalt (Roadways) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Asphalt (Waterproofing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Asphalt (Waterproofing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Asphalt (Recreation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Asphalt (Recreation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Asphalt (Others) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Asphalt (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Asphalt (Non-Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Asphalt (Non-Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Asphalt (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Asphalt (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Asphalt (Others) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Asphalt (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: North America: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: North America: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: United States: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: United States: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Canada: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Canada: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Asia Pacific: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Asia Pacific: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: China: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: China: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Japan: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Japan: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: India: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: India: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: South Korea: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: South Korea: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Australia: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Australia: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Indonesia: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Indonesia: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Others: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Others: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Europe: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Europe: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Germany: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Germany: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: France: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: France: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: United Kingdom: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: United Kingdom: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Italy: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Italy: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Spain: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Spain: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Russia: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Russia: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Others: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Others: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Latin America: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Latin America: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Brazil: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Brazil: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Mexico: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Mexico: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Others: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Others: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Middle East and Africa: Asphalt Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Middle East and Africa: Asphalt Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Global: Asphalt Industry: SWOT Analysis
Figure 84: Global: Asphalt Industry: Value Chain Analysis
Figure 85: Global: Asphalt Industry: Porter’s Five Forces Analysis


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