South Africa Asphalt Market Set to Experience a Massive 5.7% CAGR During 2023-2028

According to the latest report by IMARC Group, titled " South Africa Asphalt Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," The study provides a detailed analysis of the industry, including the South Africa asphalt market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the South Africa asphalt market?

The South Africa asphalt market is expected to exhibit a growth rate (CAGR) of 5.7% during 2023-2028.

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What is asphalt?

Asphalt, also called bitumen, represents a sticky, black, and highly viscous semi-solid or liquid hydrocarbon material that is extracted from petroleum distillation residue. Some common varieties of bitumen include penetration grade, cutback, modified, emulsions, etc. Asphalt is utilized as a binding agent in constructing roads, parking areas, pavements, etc. It assists in minimizing fuel consumption, improving vehicular performance, enhancing road safety, etc., by ensuring a better grip to the wheels. Asphalt is also widely used as an adhesive, sealant, and waterproofing agent across the residential, commercial, and industrial sectors.

South Africa Asphalt Market Trends: 

The rising number of construction activities and elevating urbanization levels are among the primary factors driving the South Africa asphalt market. In line with this, the shifting preferences towards bitumen-based materials, owing to their higher durability, improved binding properties, etc., are further catalyzing the market growth. Moreover, the increasing utilization of asphalt in the maintenance of highways, runways, pavements, etc., is acting as another significant growth-inducing factor. Besides this, the emerging trends of modern housing architecture and remodeling of existing infrastructures are propelling the demand for asphalt for sealing carpet tile backing, pipe coatings, paints, etc. Additionally, the rising popularity of numerous innovative product variants, such as emulsified asphalt and polymer modified asphalt, is anticipated to fuel the South Africa asphalt market in the coming years.

Who are the key players operating in the industry?

The report covers the major market players including: 

Actop
Caltex Asphalt
Engen Refineries
National Asphalt Company
Natref Refinery
Mosal Bay GTF Refinery
SAPREF
Sasol Ltd.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

Paving
Roofing
Others

Breakup by Application:

Roadways
Waterproofing
Coatings
Recreation
Others

Breakup by Type:

Penetration Grade
Cutback
Modified
Emulsions

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Key Highlights of the Report:     

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
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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