市场调查报告书
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1607726
沥青市场规模、份额、成长分析、按产品类型、按最终用途、按地区 - 行业预测,2024-2031 年Asphalt Market Size, Share, Growth Analysis, By Product Type(Hot Mix Asphalt, Cold Mix Asphalt,), By Product, By End-use, By Region - Industry Forecast 2024-2031 |
2022年全球沥青市场规模为27亿美元,从2023年的28亿美元成长到2031年的41.6亿美元,预计在预测期内(2024-2031年)复合年增长率为5.1%。
由于全球都市化的快速发展和对永续建筑材料的需求不断增加,沥青市场正在经历显着增长。沥青是集料、接合材料和填充材的混合物,对于各种基础设施(包括人行道、道路和机场跑道)至关重要。使用建筑垃圾等回收材料使沥青生产更加永续性。在政府措施的支持下,印度超过 600 万公里的广泛公路网正在推动沥青的需求,2014 年至 2020 年间道路建设率显着增加。儘管 COVID-19 大流行扰乱了供应链和施工进度,但随着许多地方政府努力重新调整道路开发计划并确保经济稳定,该行业正在逐渐復苏。
Global Asphalt Market size was valued at USD 2.7 billion in 2022 and is poised to grow from USD 2.8 billion in 2023 to USD 4.16 billion by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).
The asphalt market is experiencing significant growth driven by rapid global urbanization and increasing demand for sustainable construction materials. Asphalt, a blend of aggregates, binder, and filler, is essential for various infrastructures, including sidewalks, roads, and airport runways. The use of recycled materials, such as construction debris, is further enhancing the sustainability of asphalt production. In India, the extensive road network of over 6 million kilometers-supported by government initiatives-has boosted asphalt demand, with a noteworthy uptick in road construction rates observed between 2014 and 2020. Despite setbacks from the COVID-19 pandemic that disrupted supply chains and construction timelines, the industry is gradually recovering, with many local governments working to recalibrate road development projects and ensure economic stability.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Asphalt market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Asphalt Market Segmental Analysis
Global Asphalt Market is segmented by Type, by Product, by Application, by End User and by Region. Based on Type, the market is segmented into Hot Mix Asphalt, Warm Mix Asphalt, Cold Mix Asphalt. Based on 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. Based on Application, the market is segmented into Roadways, Waterproofing, Recreation, Others. Based on End User, the market is segmented into Non-Residential, Residential, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the Global Asphalt Market
The global asphalt market is primarily driven by the growing demand in road construction, which accounts for approximately 70% of bitumen usage. Increasing investments in asphalt paving, particularly in highway and street projects, significantly influence market dynamics. With governments committing substantial resources to infrastructure maintenance and development, favorable economic conditions lead to enhanced revenues in the construction sector. Additionally, advancements in technology for mixing facilities and manufacturers' focus on innovative solutions to meet customer needs further propel market growth. Increased awareness of infrastructure vulnerability to extreme weather conditions, driven by climate change, is prompting consumers to seek protective asphalt solutions for both new and existing buildings, thereby boosting roofing applications. The demand for waterproofing infrastructure to prevent moisture-related issues and ensure longevity is also contributing to the market's expansion.
Restraints in the Global Asphalt Market
The global asphalt market faces significant restraints primarily due to the fluctuating costs of raw materials, particularly petroleum and crude oil, which are essential for asphalt production. These prices, influenced by stock exchange trading, often lead to unpredictable and costly production processes. Such volatility in raw material costs can hinder industry growth by restricting supply and increasing operational expenses. Furthermore, the ongoing shift towards using cement for road construction in various regions poses an additional threat, potentially stalling the overall development of the asphalt market as alternative materials gain preference for infrastructure projects.
Market Trends of the Global Asphalt Market
The global asphalt market is experiencing a significant trend towards enhanced performance and durability through the adoption of asphalt additives and modifiers. Materials such as styrene-butadiene-styrene, crumb rubber, atactic polypropylene, and natural rubber are increasingly used to improve asphalt's strength, flexibility, and resistance to aging and abrasion. This shift not only bolsters the visual appeal and shelf life of asphalt but also significantly enhances the longevity and durability of roads and building structures. As modified asphalt gains traction-particularly in demanding roofing applications-its application is driving the growth of the bitumen industry, projected to continue expanding due to these advancements.