Press release
Recycled Asphalt Market to Expand at a Healthy CAGR of 4.5% through 2031
Recycled Asphalt Market
The demand of recycled asphalt has witnessed a huge growth, due to rising petroleum prices across the globe. Recycle asphalt offers less use of resources leading to economic and environmental safety, this key factors are driving the market growth of recycled asphalt.
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How will Recycled Asphalt Sales Grow in 2021 and Beyond
The Recycled Asphalt industry report tracks short-term and long-term growth, offering readers analysis they can use immediately to formulate their strategies. Overall, demand for Recycled Asphalt will be heavily influenced by broader developments in the chemicals sector.
The Chemical Activity Barometer has shown a stable streak, which is indicative of an ascendancy in US chemicals sector. However, the US chemicals sector growth will depend to a large extent on how end-use industries fare.
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Traditionally, demand from automotive sector has been key to chemical demand. The US automotive sector is set to recover in 2021 with sales expected to be in the range of 15.5 million to 16 million. Housing is another key demand generator for chemicals sector.
The record low mortgage rates have led to momentum in the US housing sector, but it will remain to be seen whether an increase subdues the enthusiasm. The European chemical sector is also set to recover in 2021, after contracting by 2% in 2020. Recovery is likely to be sustained with a growth of 2% also expected in 2022.
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Growth of chemicals sector in Asia Pacific will also contribute to overall recovery. The resurgence of a virulent variant in India has taken the sheen away from the recovery made in 2021, but other economies in the region continue to be on the path to recovery.
The chemical sector in Japan and South Korea is also shifting toward use of green chemicals. Regulation, combined with evolving demand of end-users, is creating a market scenario that is conducive to green chemicals.
Key Recycled Asphalt Market Segments
By application, the key segments include
Patch Material
Hot Mix Asphalt
Temporary Driveways and Roads
Road Aggregate
Interlocking Bricks
New Asphalt Shingles
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Competitive Landscape
The Fact.MR study profiles the business, product and other key strategies of the leading Recycled Asphalt companies in detail. The competitive landscape section of the study tracks market leaders, incumbents, and aspirants, laying out a layered information model that readers can use.
Key Regions Analyzed
• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East & Africa
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Key Country-wise Inclusions
• US Recycled Asphalt Market
• Canada Recycled Asphalt Sales
• Germany Recycled Asphalt Production
• UK Recycled Asphalt Industry
• France Recycled Asphalt Market
• Spain Recycled Asphalt Supply-Demand
• Italy Recycled Asphalt Outlook
• Russia & Cis Market Analysis
• China Recycled Asphalt Market Intelligence
• India Recycled Asphalt Demand Assessment
• Japan Recycled Asphalt Supply Assessment
• ASEAN Recycled Asphalt Market Scenario
• Brazil Recycled Asphalt Sales Analysis
• Mexico Recycled Asphalt Sales Intelligence
• GCC Recycled Asphalt Market Assessment
• South Africa Recycled Asphalt Market Outlook
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