DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/fnhfz2/global_asphalt) has announced the addition of the "Global Asphalt Market 2014-2018" report to their offering.
The analysts forecast the Global Asphalt market to grow at a CAGR of 4.05 percent over the period 2013-2018. One of the key factors contributing to this market growth is increase in the use of recycled asphalt pavements. The Global Asphalt market has also been witnessing recycling activities at a rapid rate. However, unstable economic conditions could pose a challenge to the growth of this market.
Key vendors dominating this market space include BP plc, ExxonMobil Corp., Imperial Oil Ltd., Shell Bitumen.
Other vendors mentioned in the report are Aggregate Industries Ltd., Akzo Nobel NV, Atlas Roofing Corp., Anglo American plc, CEMEX UK Operations Ltd., CertainTeed Corp, Chevron Corp., China Petroleum & Chemical Corp., Colas Danmark A/S, CRH plc, Indian Oil Corp. Ltd., IKO Group Johns Manville, Lafarge SA, Marathon Petroleum Corp., Murphy Oil Corp., Neste Oil Oyj, Owens Corning Corp., Petroleos de Venezuela SA, RPM International Inc., Sinclair Oil Corp., Total S.A., United Refining Co., Valero Energy Corp., Ziegler Chemical & Mineral Corp.
Commenting on the report, an analyst from the team said: The trend of recycling is on the rise in the Global Asphalt market. Asphalt is the most recycled product in the Americas with a recycling rate of 80 percent. The rising popularity of RAP along with the need to reduce cost and wastage of materials is resulting in the increased recycling rates. According to a survey conducted by the National Asphalt Pavement Association (NAPA) in partnership with the Federal Highway Administration (FHWA), more than 99 percent of recycled asphalt in the US was used for new construction projects, pavement preservation, and other paving projects. Government projects are adopting the usage of recycled materials and warm-mix asphalt to ensure that they get high-quality, sustainable roads and save taxpayers money in the process.
According to the report, one of the main drivers in this market is the growth in traffic which calls for the construction of new roads and maintenance of existing ones.
For more information visit http://www.researchandmarkets.com/research/fnhfz2/global_asphalt
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