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Asphalt Market: Opportunity Assessment Research Study 2013 - 2019
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The global asphalt market mainly comprises of construction market segments such as residential buildings, new improvement and repair and nonresidential buildings. At present, paving products account for more than half the consumption of asphalt and will remain the dominant application for asphalt in the coming years. The demand for asphalt in roofing products is expected to grow consistently owing to the rise in building construction expenditures. The residential market will record the fastest growth as substantial gains in single-family housing completions will trigger the demand for asphalt shingles.
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In addition, the rising use of recycled asphalt pavement (RAP) will result in growing demand for asphalt emulsions as emulsions are blended with old pavements to reconstruct worn highway surfaces and repair damaged highways. In the nonresidential market segment, increasing construction spending will spur the demand for low-slope roofing products like roll roofing, modified bitumen membranes and mopping asphalts. Some of the key players in the global asphalt market are ExxonMobil, Imperial Oil, British Petroleum and Shell Bitumen among others.
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