Asphalt Market To Have US$ 308 Million Size and 5.6% CAGR by 2027, Says IMARC Group | Shell, Aggregate Industries UK, Anglo America and More, Shell International, Total SA and United Refining Inc. and More

IMARC Group has recently released a new research study titled "Asphalt Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

Market Outlook: 

The global asphalt market size reached US$ 221.4 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 308 Million by 2027, exhibiting a growth rate (CAGR) of 5.6% during 2022-2027. Asphalt, or bitumen, is a sticky, black-colored, semi-solid binding form of fuel that is manufactured with a blend of slags, gravel, and crushed rocks. It is extensively utilized for constructing airport runways, bicycle lanes, sidewalks, tracks, ports, parking areas and railways. It is also used by farmers to line the bottom retention ponds to raise livestock and fish. Asphalt is currently available in different variants, such as mastic, hot, cut-back, cold, and warm mix.

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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Market Growth Drivers and Trends: 

The widespread adoption of reclaimed asphalt pavements (RAP) in commercial and residential driveways, schools, playgrounds, blacktops and parking lots is one of the primary factors driving the global asphalt market. Additionally, the rising demand for various low-slope roofing commodities, such as mopping asphalt, modified bitumen membranes, and roll roofing, in the industrial sector is further propelling the market growth. Other than this, the escalating requirement of industrial modernization is further creating a positive outlook for the market across the globe.

Competitive Landscape with Key Players:

The competitive landscape of the asphalt market has been studied in the report with the detailed profiles of the key players operating in the market.

Major Players Covered:

• Aggregate Industries Ltd.
• Anglo American Plc
• Atlas Roofing Corporation
• BP Plc
• Cemex
• Chevron Corporation
• Exxon Mobil Corporation
• Imperial Oil Limited
• Owens Corning
• Petroleos de Venezuela S.A
• Royal Dutch Shell plc
• Shell International
• Total SA
• United Refining Inc.

Explore Full Report Description At: https://www.imarcgroup.com/asphalt-market

Report Segmentation:

The report has segmented the asphalt market based on product, asphalt type, application, end-use sector and region.

Based on Product:

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

Based on Asphalt Type:

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

Based on Application:

• Roadways
• Waterproofing
• Recreation
• Others

Based on End-Use Sector:

• Non-Residential
• Residential
• Others

Geographical Analysis:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2128&flag=C

Key highlights of the report:                                                    

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.