Recycled Asphalt Market Growth Opportunity CertainTeed, Cherry Companies, Downer Group, GAF Materials

According to the report, the global Recycled Asphalt market is expected to grow from $Billion in 2020, which is expected to reach $9.80 Billion by 2028, growing at the CAGR of 5.12% from 2020 to 2028. This growth is attributed to the growing demand for sustainable construction products to reduce the overall use of natural resources. Asphalt paving offers an environmentally friendly solution for paving, which can otherwise result in the depletion of natural resources like sand to make concrete, glass to make asphalt, and petroleum to produce various asphalt products. Recycled Asphalt is made from waste tires, which are widely available in the market. As the demand for sustainable products grows, the demand for recycled asphalt is expected to increase, thereby propelling the market growth. The growth in the recycled asphalt market is restrained by the high cost of asphalt recycling technology and issues of high energy consumption.

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The recently published research report on Global Recycled Asphalt Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Recycled Asphalt market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal
As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Recycled Asphalt market report also includes the following data points:
• COVID19 Impact on Recycled Asphalt market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Recycled Asphalt market

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Key Players
Some of the major Recycled Asphalt players holding high market share include CertainTeed, Cherry Companies, Downer Group, GAF Materials. These players use partnership as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• CertainTeed
• Cherry Companies
• Downer Group
• GAF Materials
• Lone Star Paving
• Owens Corning
• Pavement Recycling System, Inc.
• The Kraemer Company, LLC
• Wirtgen Group
• Bodean Company

Segmental Analysis
Market Segment By Product Type with focus on market share, consumption trend, and growth rate of Recycled Asphalt Market:
o Hot Recycling
o Cold Recycling

Market Segment By Application with focus on market share, consumption trend, and growth rate of Recycled Asphalt Market:
o Patch Material
o Hot-mix Asphalt
o Temporary Driveways & Roads
o Road Aggregate for Unpaved Roadways
o Others

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Global Recycled Asphalt Geographic Coverage:
• North America
o US
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Rest of the World
o South America
o Middle East & Africa

North America is expected to dominate the market due to the increasing demand for asphalt road construction and rehabilitation works and an increasing array of asphalt products used in construction and infrastructure projects are expected to drive the development of the recycled asphalt market.

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