Asphalt Paving Mixtures And Blocks Is A Major Segment In The Global Asphalt Market

The asphalt paving mixtures and blocks segment of the global asphalt market includes establishments primarily engaged in manufacturing only asphalt paving mixtures and blocks.

The asphalt market is segmented into asphalt paving mixtures and blocks; prepared asphalt and tar roofing and siding products; roofing asphalts and pitches, coatings and cements.

Prepared Asphalt And Tar Roofing And Siding Products includes establishments primarily engaged in manufacturing only prepared asphalt and tar roofing and siding products.

Roofing Asphalts And Pitches, Coatings And Cements includes establishments primarily engaged in manufacturing only roffing asphalts and pitches, coatings and cements.

Asphalt is a sustainable material for building pavements and roads, made from stones, sand, and gravel, held together by asphalt cement. Asphalt is also called Bitumen. It is smooth and quiet, enabling vehicles on the road to consume less fuel and produce lower emissions.

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The global asphalt market was valued at around $71 billion in 2017. Asia Pacific was the largest geographic region accounting for around 42% of the global market. China was the largest country accounting for around 14% of the global asphalt market.

The companies covered in the asphalt market report are BP plc, CEMEX S.A.B. de C.V., Exxon Mobil, Royal Dutch Shell, and Marathon Petroleum.

The countries covered are the USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.

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Polymer modified asphalt (PMA), which is variation of traditional asphalt, has been gaining popularity as it can be fixed at comparatively low temperatures and retains surface granules better compared to standard granules. Asphalts are mixed with elastomers to produce PMA which has higher rutting resistance and durability. Styrene-butadiene-styrene (SBS) and Styrene-butadiene rubber (SBR) are the most commonly used elastomers to produce PMA. For instance, the global PMA market grew by 7% during 2015-22, thus indicating high demand for PMA.

The oil and gas market, of which the asphalt market is a segment, includes sales of oil and gas by entities (organizations, sole traders or partnerships) that undertake the exploration for, extraction, drilling, and refining, of oil and gas and some of its derivatives. This market does not include petrochemicals.

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The asphalt market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast growth by geography. It places the market within the context of the wider oil and gas market and compares it with other markets.

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