Insights on Asphalt Market within the Construction Materials Sector | Increasing Demand for Waterproofing to Emerge as a Key Driver | Technavio

Technavio has announced its latest market research report titled Global Asphalt Market 2020-2024 (Graphic: Business Wire)

LONDON--()--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.

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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.

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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:

Material type

  • Construction aggregate
  • Cement
  • Bitumen
  • Bricks
  • Tiles
  • Ready-mix concrete
  • Others

Construction segments

  • Residential
  • Commercial
  • Industrial
  • Public infrastructure

Distribution channels

  • Industrial customers
  • Resellers (retailers and wholesalers)
  • Government acquisitions


  • North America (NA)
  • South America (SA)
  • Europe
  • Asia Pacific (APAC)
  • Middle East and Africa (MEA)

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Vendor Landscape

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.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The Global Asphalt Market will grow by 30.31 mn tonnes during 2020-2024


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200