Report Code: A08647 | Pages: NA | Mar 2023 | 713 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Building Asphalt Market
Request Now !Asphalt is commonly known as bitumen, which is a black, semi-solid, and sticky form of rock oil. Its mixture majorly contains sand, rock, and slag. Asphalt is majorly found in natural deposits or else is a refined residue from the distillation process of particular crude oils. Asphalt is found to be a very useful material in construction of building, roads and as a waterproofing product, i.e. sealant, while making a roof due to its ability to be an excellent filler and binder.
There are various types of bitumen available in the market but PMB is expected to be the best one due to its growing access in various roofing applications.
COVID-19 Impact
Building asphalt market is significantly growing due to increase in population and urbanization in developing nations and this leads to growth of infrastructure, thus driving the building asphalt market.
China alone consumed one-fifth of global asphalt market in the year 2015. Moreover, India is also anticipated to see positive growth during the forecast period due to several campaigns like “Make in India” and “PradhanMantriAwasYojana (PMAY)”, where the government of India is going to construct houses for poor people living in both rural and urban areas.
Building asphalt market is similarly useful for paving segment, and it is overtaking concrete in most road paving applications in several regions such as Canada and U.S.
The building asphalt market has various unique properties such as resistance to water, hardness, adhesion, ductility, and higher softening point, which makes it suitable in the construction industry for making of roofs. Furthermore, with increase in population, demand for houses has increased and leading to the development of the construction sector, thus the demand for asphalt in roll roofing and waterproofing is anticipated to grow.
Moreover, with the increase in recycling initiatives and investments by government, the government is focusing more on recycled asphalt (RAP) to be used in reconstruction of damaged highway surfaces and repair damaged roads.
However, changes in environmental regulation combined with low consumer awareness can hinder the growth of the market.
Key benefits of the report:
Questions answered in the Building Asphalt Marketresearch report:
Building Asphalt Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
---|---|
By Type |
|
By Application |
|
By Region |
|
Key Market Players | ExxonMobil, Imperial Oil, Shell Bitumen, Neustar, Nynas, PEMEX, Valero Energy, Marathon Petroleum, Chevron, Royal Dutch Shell. |
Loading Table Of Content...
Start reading.
This Report and over 19,602+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers