아스팔트 시장 규모, 점유율, 성장 분석, 제품 유형별, 최종 용도별, 지역별 - 산업 예측(2024-2031년)

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.

Table of Contents

Introduction

• Objectives of the Study
• Scope of the Report
• Definitions

Research Methodology

• Information Procurement
• Secondary & Primary Data Methods
• Market Size Estimation
• Market Assumptions & Limitations

Executive Summary

• Global Market Outlook
• Supply & Demand Trend Analysis
• Segmental Opportunity Analysis

Market Dynamics & Outlook

• Market Overview
• Market Size
• Market Dynamics
  • Driver & Opportunities
  • Restraints & Challenges
• Porters Analysis & Impact
  • Competitive rivalry
  • Threat of substitute
  • Bargaining power of buyers
  • Threat of new entrants
  • Bargaining power of suppliers

Key Market Insights

• Key Success Factors
• Degree of Competition
• Top Investment Pockets
• Market Ecosystem
• Market Attractiveness Index, 2023
• PESTEL Analysis
• Macro-Economic Indicators
• Value Chain Analysis
• Pricing Analysis
• Technological Advancement
• Regulatory Landscape
• Case Studies

Global Asphalt Market Size by Type & CAGR (2024-2031)

• Hot Mix Asphalt
• Warm Mix Asphalt
• Cold Mix Asphalt

Global Asphalt Market Size by Product & CAGR (2024-2031)

• Hot Mix Asphalt Paving Mixtures and Blocks
• Prepared Asphalt and Tar Roofing and Siding Products
• Roofing Asphalts and Pitches, Coatings and Cement

Global Asphalt Market Size by Application & CAGR (2024-2031)

• Roadways
• Waterproofing
• Recreation
• Others

Global Asphalt Market Size by End-Use & CAGR (2024-2031)

• Non-Residential
• Residential
• Others

Global Asphalt Market Size by Region & CAGR (2024-2031)

• North America, (by Type, by Product, by Application, by End User)
  • US
  • Canada
• Europe, (by Type, by Product, by Application, by End User)
  • UK
  • Germany
  • Spain
  • France
  • Italy
  • Rest of Europe
• Asia-Pacific, (by Type, by Product, by Application, by End User)
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America, (by Type, by Product, by Application, by End User)
  • Brazil
  • Rest of Latin America
• Middle East & Africa, (by Type, by Product, by Application, by End User)
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Intelligence

• Top 5 Player Comparison
• Market Positioning of Key Players, 2023
• Strategies Adopted by Key Market Players
• Recent Developments in the Market
• Company Market Share Analysis, 2023
• Company Profiles of All Key Players
  • Company Details
  • Product Portfolio Analysis
  • Company's Segmental Share Analysis
  • Revenue Y-O-Y Comparison (2021-2023)

Key Company Profiles

• Aggregate Industries Ltd.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Atlas Roofing Corporation
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• BP Plc
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Cemex
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Chevron Corporation
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Exxon Mobil Corporation
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Imperial Oil Limited
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Owens Corning
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Petroleos de Venezuela S.A
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Shell plc
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Total SA
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• United Refining Inc.
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Marathon Petroleum Corporation
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• United Refining Company
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Boral, Australia
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Valero Marketing and Supply Company
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Heidelbergcement AG
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• CEMEX S.A.B. de C.V.,
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• LOTOS Group
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments

Conclusion & Recommendation