The South Africa asphalt market is expected to exhibit a growth rate (CAGR) of 5.7% during 2023-2028.
Asphalt refers to a black-colored, semi-solid hydrocarbon material that is extracted from petroleum distillation residue. Some of the common types of asphalt include penetration grade, cutback, modified, and emulsions. Asphalt is primarily used as a binding agent in the construction of roads, parking areas, pavements, and driveways as it binds crushed stone and aggregates into the firm surfaces. It also helps in reducing fuel consumption, enhancing vehicular performance, and improving road safety by providing a better grip to the wheels. Furthermore, asphalt is also used as an adhesive, sealant, and waterproofing agent across the residential, commercial, and industrial sectors.
In South Africa, the rising levels of urbanization along with the growing number of construction activities are propelling the demand for asphalt. Furthermore, the shift from conventional building materials towards asphalt-based materials due to its higher durability, crack-resistance and enhanced binding properties is also driving the market growth. Additionally, the increasing utilization of asphalt in the maintenance of existing roads, highways, runways, pavements, etc., is further augmenting the product demand in South Africa. In line with this, the increasing development of modern housing projects and numerous remodeling activities are also bolstering the demand for asphalt for sealing carpet tile backing, pipe coatings, paint, etc. With the rising levels of industrialization, asphalt also finds diverse applications in low-slope roofing products, such as modified bitumen membranes, mopping asphalts, roll roofing, etc. In the coming years, the growing popularity of innovative product variants, including emulsified asphalt and polymer modified asphalt, will continue to drive the market for asphalt in South Africa.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the South Africa asphalt market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on product, application and type.
Breakup by Product:
Breakup by Application:
Breakup by Type:
- Penetration Grade
The competitive landscape of the industry has also been examined with some of the key players being Actop, Caltex Asphalt, Engen Refineries, National Asphalt Company, Natref Refinery, Mosal Bay GTF Refinery, SAPREF and Sasol Ltd.
|Base Year of the Analysis
||Product, Application, Type
||Actop, Caltex Asphalt, Engen Refineries, National Asphalt Company, Natref Refinery, Mosal Bay GTF Refinery, SAPREF and Sasol Ltd
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