San Jose, California (PRWEB) June 30, 2014
Follow us on LinkedIn. Asphalt, also known as bitumen, represents the strongest wear surface and base layer material used in the construction of roads, pavements, pathways, roofs, and parking lots, among others. More than 90% of the roads in developed countries are asphalt based. Asphalt is a proven cure-all solution for several ecological problems and is also used as waterproof liners for fish rearing ponds, and water reservoirs. Water reservoir liners use open-graded and dense-graded blends of asphalt. Open-graded asphalt layer prevents leakages in drinking water reservoirs. Besides being used to pave bicycle, rail and other recreational trails, asphalt is also used to surface runways in many international airports, and military airfields.
Demand for asphalt is dependent on the health of the construction sector. The market therefore declined during the 2007-2009 recession period as a result of the meltdown in residential, commercial and public construction activities. The market nevertheless recovered in the succeeding years supported by the booming Asian economies such as China and India. Widespread increase in public construction activity and resurgence in infrastructure spends, particularly airports, rail terminals, parking lots, are all expected to significantly benefit market opportunities in the coming years. Long term growth will be primarily driven by the ever expanding roadways across the world that are needed to accommodate the massively growing automobile population.
Key innovations that are poised to benefit the market in the coming years include noise-reducing hot-mix asphalt for lowering traffic noise and introduction of green technologies for eco-friendly production of asphalt mixtures. Growing popularity of perpetual pavements designed to last for over 50 years in comparison with the 20 years lifespan of conventional pavements, will spur consumption of asphalt in the construction of smart roads of the future. The market for asphalt roofing is forecast to benefit from the introduction of laminated architectural shingles.
As stated by the new market research report on Asphalt, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a CAGR of 8.0% over the analysis period. Burgeoning population, increased urbanization, robust pace of industrialization and the subsequent need for housing, paving as well as transportation, among other infrastructures, represent factors promoting demand growth in the region.
Key companies covered in the report include BP Plc., Exxon Mobil Corporation, Petroleos de Venezuela SA, Royal Dutch Shell plc., Anglo American Plc., Atlas Roofing Corporation, Aggregate Industries Limited, CEMEX UK Operations Limited, CertainTeed Corporation, Colas Danmark A/S, CRH Plc., Dehtochema, GAF Materials Corporation, Hanson, Husky, Lafarge SA, Nynas AB, Oldcastle Materials Inc., Owens Corning, SemGroup Corporation, and Sinopec, among others.
The research report titled Asphalt: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, issues, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections in thousand tons for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), the Middle East and Latin America (Brazil, and Rest of Latin America). End-use applications analyzed include Paving, Roofing, and Others.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Asphalt_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
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