LONDON--(BUSINESS WIRE)--The global asphalt market is expected to grow at a CAGR of over 4% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.
Waterproofing is essential in buildings to prevent leakages, dampness and to avoid mold, mildew, and decay. It safeguards the structural integrity of construction and enhances the property value. Waterproofing chemicals such as asphalt prevent moisture and increase the service life of buildings. With the rise in construction of buildings, bridges, and other construction activities across the world, the growth of the global asphalt market will accelerate during the forecast period.
Asphalt Market: COVID-19 Impact Analysis on Related Markets
Global Asphalt Felts & Coatings Market 2020-2024
Global Asphalt Paper Market 2020-2024
Global Articles of Asphalt in Rolls Market 2020-2024
Asphalt Market: COVID-19 Impact Analysis on Parent Market
The global construction materials market is the parent market of the asphalt market. Within its scope, the construction materials market covers products and companies engaged in the manufacture of construction materials including sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and other materials. Our report on the asphalt market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including Akzo Nobel NV, Arkema Group, ArrMaz, Berkshire Engineering, BP Plc, and others.
Technavio’s research report on the asphalt market identifies the key drivers, trends, challenges, and market scenario over the forecast period. The report also analyzes the impact of these factors on the overall construction materials market.
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Asphalt Market: Segmentation Analysis
The global asphalt market has been analyzed across various segments to identify market dynamics, developments, and key growth areas during the forecast period. The report also offers insights on high growth regions and opportunities for vendors operating in each sub-segment of the asphalt market. The market is segmented as follows:
- Construction aggregate
- Ready-mix concrete
- Public infrastructure
- Industrial customers
- Resellers (retailers and wholesalers)
- Government acquisitions
- North America (NA)
- South America (SA)
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
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Technavio’s industry coverage utilizes various sources and tools to gather information about multiple stakeholders and their offerings toward the asphalt market. Sources such as company websites, annual reports, whitepapers, subscription & in-house databases, industry journals, publications, and magazines are used in addition to other relevant sources. The vendor landscape provides a framework to estimate the construction materials market, while also categorizing the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters.
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