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Asphalt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global asphalt market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor. 

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.

 

 
 

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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 for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on product, asphalt type, application and end-use sector.

Breakup by Product:

 

 
 

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  • 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:

 

 
 

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  • 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:

  • How has the global asphalt market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global asphalt market?
  • What are the key regional markets?
  • What is the breakup of the market based on the product?
  • What is the breakup of the market based on the asphalt type?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end-use sector?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global asphalt market and who are the key players?
  • What is the degree of competition in the industry?

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 Figures

Figure 1: Global: Asphalt Market: Major Drivers and Challenges
Figure 2: Global: Asphalt Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Asphalt Market: Breakup by Product (in %), 2020
Figure 4: Global: Asphalt Market: Breakup by Asphalt Type (in %), 2020
Figure 5: Global: Asphalt Market: Breakup by Application (in %), 2020
Figure 6: Global: Asphalt Market: Breakup by End-Use Sector (in %), 2020
Figure 7: Global: Asphalt Market: Breakup by Region (in %), 2020
Figure 8: Global: Asphalt Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 9: Global: Asphalt (Asphalt Paving Mixtures and Blocks) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Asphalt (Asphalt Paving Mixtures and Blocks) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Asphalt (Prepared Asphalt and Tar Roofing and Siding Products) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Asphalt (Prepared Asphalt and Tar Roofing and Siding Products) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Asphalt (Roofing Asphalts and Pitches, Coatings and Cement) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Asphalt (Roofing Asphalts and Pitches, Coatings and Cement) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Asphalt (Hot Mix Asphalt) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Asphalt (Hot Mix Asphalt) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Asphalt (Warm Mix Asphalt) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Asphalt (Warm Mix Asphalt) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Asphalt (Cold Mix Asphalt) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Asphalt (Cold Mix Asphalt) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Asphalt (Roadways) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Asphalt (Roadways) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Asphalt (Waterproofing) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Asphalt (Waterproofing) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Asphalt (Recreation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Asphalt (Recreation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Asphalt (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Asphalt (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Asphalt (Non-Residential) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Asphalt (Non-Residential) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Asphalt (Residential) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Asphalt (Residential) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Asphalt (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Asphalt (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: North America: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: North America: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: United States: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: United States: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Canada: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Canada: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Asia Pacific: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Asia Pacific: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: China: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: China: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Japan: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: Japan: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: India: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: India: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: South Korea: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: South Korea: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Australia: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Australia: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Indonesia: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Indonesia: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Others: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Others: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Europe: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Europe: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Germany: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Germany: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: France: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: France: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: United Kingdom: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: United Kingdom: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Italy: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Italy: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Spain: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Spain: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Russia: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Russia: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Others: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Others: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Latin America: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Latin America: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Brazil: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Brazil: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Mexico: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Mexico: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Others: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Others: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Middle East and Africa: Asphalt Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Middle East and Africa: Asphalt Market Forecast: Sales Value (in Million US$), 2021-2026
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

List of Tables

Table 1: Global: Asphalt Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Asphalt Market Forecast: Breakup by Product (in Million US$), 2021-2026
Table 3: Global: Asphalt Market Forecast: Breakup by Asphalt Type (in Million US$), 2021-2026
Table 4: Global: Asphalt Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 5: Global: Asphalt Market Forecast: Breakup by End-Use Sector (in Million US$), 2021-2026
Table 6: Global: Asphalt Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Asphalt Market Structure
Table 8: Global: Asphalt Market: Key Players

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