Asphalt

Freedonia Group Inc
November 1, 2011
333 Pages - SKU: FG6673192
License type:
Table of Contents Related Reports
Countries covered: United States

US demand to rise 8.2% annually through 2015
Demand for primary asphalt is projected to increase 8.2 percent annually from a weak 2010 base to more than 198 million barrels in 2015. Gains in demand will derive in large part from an expected recovery in new home building, sparking increased demand for asphalt shingles and other roofing products, as well as increased use in asphalt paving products used in driveways and roads. However, demand in 2015 will remain below historically high 2005 levels.

Asphalt emulsions among fastest growing paving types
Paving products represent the dominant outlet for primary asphalt, accounting for more than 80 percent of total demand. Consumption of asphalt paving products will benefit from the ongoing need to repair and upgrade existing roadways and from more stable petroleum pricing, resulting in an expansion in the amount of road surface being paved. Although asphalt cement will remain the primary asphalt paving product in use, demand for asphalt emulsions will continue to post faster growth, largely at the expense of cutback asphalts, which are being used less frequently due to their environmental drawbacks.

Residential roofing demand to outpace nonresidential
Demand for asphalt roofing products, the dominant roofing materials used in the United States, will increase 4.8 percent annually through 2015. Widely used in both residential and nonresidential roofing applications, asphalt roofing materials will benefit from the recovery in new residential construction, as well as continued gains in residential improvement and repair applications. In particular, this growth will be concentrated in asphalt shingles, which dominate residential roofing demand. In nonresidential markets, demand will advance at a less robust pace, reflecting slower growth in construction spending in that market segment.

South to remain largest asphalt consuming region
In regional terms, the South will remain the largest asphalt consuming region in the US, reflecting its large installed base of homes and renewed growth in new housing completions. The region also possesses the largest installed base of highways and roads, supporting demand for asphalt paving products. The Midwest, also a sizeable consumer of asphalt products, will benefit from a strong resurgence in new housing construction. In the West region, strong new housing construction and road building will support gains in demand. Meanwhile, the Northeast will remain the smallest regional market.

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