The analysts forecast the Global Asphalt Market to grow at a CAGR of 4.22% during the period 2018-2022.
Asphalt is a black, sticky, and highly viscous material obtained during the fractional distillation of crude oil. It is mainly used for road construction, waterproofing, and recreation.
The report covers the present scenario and the growth prospects of the asphalt market. To calculate the market size, the report considers the revenue generated from the sales of asphalt.
One trend affecting this market is the emergence of new bitumen refinery plants In the past few years, the developments in the asphalt industry have been remarkable, and this trend is expected to continue during the forecast period. Many new bitumen refineries have been established, and many are in the pipeline.
One driver influencing this market is the developments in the roadways sector in China and India. The use of asphalt in roadways is the highest, and it drives the growth of the global asphalt market. Thus, any development in the roadways sector, especially with the development of roads and road connectivity, will have positive impact on the global demand for asphalt.
The report states that one challenge affecting this market is the volatility in raw material prices. Crude oil and natural gas are the basic raw materials for producing asphalt. Any fluctuations in crude oil prices have a direct impact on the cost of asphalt and similar petrochemical feedstock.
- Exxon Mobil Corporation
- Imperial Oil
- Owens Corning
- Shell International
Key Topics Covered:
1: Executive Summary
2: Scope Of The Report
3: Research Methodology
4: Market Landscape
5: Market Sizing
6: Five Forces Analysis
7: Market Segmentation By Application
8: Customer Landscape
9: Market Segmentation By End-User
10: Regional Landscape
11: Decision Framework
12: Drivers And Challenges
13: Market Trends
14: Vendor Landscape
15: Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/qrwfk5/global_asphalt?w=4