Asphalt Bitumen for Road Construction Market size was worth US$ 177.6 Million in 2022 and is expected to grow at a CAGR of 4.73% to an estimated revenue of US$ 245.44 Million by 2029.
Asphalt Bitumen for Road Construction Market Scope:
The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
Asphalt Bitumen for Road Construction Market Overview:
The primary goal of this research is to assist the user in understanding the Asphalt Bitumen for Road Construction Market in terms of definition, segmentation, market potential, significant trends, and the problems that the Asphalt Bitumen for Road Construction industry faces in key regions and nations. The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
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Asphalt Bitumen for Road Construction Market Segmentation:
According to Type: The Asphalt Bitumen for Road Construction Market is divided into
To comprehend the many qualities and kinds of asphalt used in road building, type. This method of segmentation offers insights into the particular needs and uses of each asphalt type. One of the most widely used forms is hot mix asphalt, which is made by heating asphalt and mixing it with aggregates at high temperatures. Hot application of this combination enables effective compaction and a long-lasting road surface.
mix warmly On the other hand, asphalt requires the addition of additives or foaming agents to lower the temperature during mixing and compaction. Benefits of this kind of asphalt bitumen for road building include energy savings, lower emissions, and enhanced workability. Another kind of asphalt, called cold mix asphalt, is utilized in low-traffic regions or for short-term repairs and patching. It doesn't need to be heated during application and is commonly premixed at room temperature. Cold mix asphalt makes it simple and versatile to take care of urgent road maintenance needs.
By Sustainability: The asphalt (bitumen) for road construction market is segmented based on sustainability considerations, which have grown in significance over the past decade. This strategy to segmentation focuses on the sustainability and environmental impact of Asphalt solutions. Environmentally friendly asphalt is a subset of sustainability.
This covers asphalt mixtures made from recycled or recovered asphalt pavement (RAP), as well as other ecologically friendly components. The environmental impact of road construction projects can be decreased by using recycled materials, fostering circular economy principles. Reduced emissions from asphalt manufacture and application are the main goal of the Low-Emission Asphalt category. Adopting techniques and technology that reduce the discharge of volatile organic compounds (VOCs) and other contaminants can help with this.
By Distribution Channel: The numerous channels via which asphalt is delivered to clients are taken into account when segmenting the asphalt bitumen market for road construction. This method of segmentation aids in the analysis of the various distribution routes and models that are employed to provide Asphalt products to end consumers. Direct sales to contractors or construction organizations is one category within distribution channels.
In this strategy, asphalt producers work directly with contractors to provide the necessary asphalt components for road building projects. Since the manufacturer and the end user can interact directly, effective communication and specialized solutions are guaranteed. Distribution by wholesalers or distributors is a different segment. In this system, asphalt producers work with wholesalers who serve as a bridge between them and the contractors. To satisfy the demand from diverse building projects, wholesalers stock and distribute Asphalt materials, giving clients convenience and accessibility. Additionally, government tenders may be used in the procurement process for distribution networks. In this section, asphalt producers discuss how they offer materials for public infrastructure projects through government procurement procedures. Compliance with certain tender rules and contractual responsibilities is required for this channel.
Global Asphalt Bitumen for Road Construction Market Size and Forecast, By Type (2022-2029)
1 Hot Mix
2 Warm Mix
3 Cold Mix
4.2 Global Asphalt Bitumen for Road Construction Market Size and Forecast, By Sustainability (2022-2029)
1 Eco-Friendly
2 Low-Emission
4.3 Global Asphalt Bitumen for Road Construction Market Size and Forecast, By Distribution Channel (2022-2029)
1 Direct Sales
2 Wholesalers or Distributors
3 Government Procurement
Global Asphalt Bitumen for Road Construction Market Size and Forecast, by Region (2022-2029)
4. North America
2 Europe
3 Asia Pacific
4 Middle East and Africa
5 South America
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Asphalt Bitumen for Road Construction Market Key Players: The study discusses the key market players who are engaged in the industry, such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors, and so on. The key players in the Asphalt Bitumen for Road Construction market are
1. ExxonMobil
2. Shell
3. BP
4. Chevron
5. Total
6. Sinopec
7. Valero Energy Corporation
8. Marathon Petroleum Corporation
9. CEMEX
10. LafargeHolcim
11. Colas Group
12. Eurovia
13. Nynas AB
14. Oldcastle Materials
15. CRH plc
16. Vulcan Materials Company
17. Aggregate Industries
18. Tarmac
19. Roadstone
20. Astec Industries
21. Owens Corning
22. Bitumar
23. Dufferin Construction Company
24. SemMaterials
25. Ergon Asphalt & Emulsions
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Regional Analysis:
The report focuses on Global Regions and Market Size of Asphalt Bitumen for Road Construction, and development forecast 2021-2027, including industries, major players, suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.
COVID-19 Impact Analysis on Asphalt Bitumen for Road Construction Market:
The report discusses the impact of COVID-19: Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the WHO to declare it a public health crisis. The worldwide effects of the coronavirus epidemic are already being noticed, and they will have a considerable influence on the Asphalt Bitumen for Road Construction industry in 2021.
Key Questions Answered in the Asphalt Bitumen for Road Construction Market Report are:
- What is the function of Asphalt Bitumen for Road Construction?
- What is the predicted revenue generation of the Asphalt Bitumen for Road Construction market?
- At what growth rate is the Asphalt Bitumen for Road Construction market evolving?
- Who are the major market giants operating in the Asphalt Bitumen for Road Construction market?
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According to recent Fact.MR study, the Asphalt Additives market will grow at 5% during 2019-2027 period.
The global asphalt additives market is projected to grow at a healthy CAGR of over 5% till 2027, says Fact.MR.
Out of every hundred kilometers of newly paved roads constructed worldwide - an estimated 40 kilometers of roads are asphalt based.
The Fact.MR study largely attributes the projected growth to technological advancements in manufacturing techniques, and rising demand for products in the sector.An Expert Perspective According to Fact.MR experts, the growth of Asphalt Additives factors will remain key drivers to growth of the Asphalt Additives market.
The company leverages information from key stakeholders of information including World Bank, the UNO, WHO, among others to tackle challenges of investing with due diligence, and reliability.
An Apt Forecast For the Asphalt Additives market, Fact.MR has considered 2014 as the base year for projections, while 2019-2027 period as the forecast period.
