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Flashpoint - Opportunities for Asphalt in Asia: Paving a Path to GrowthPublished by: Kline & Company, Inc. Published: Dec. 1, 2007 Table of Contents
AbstractAsphalt, also called bitumen, is a by-product of petroleum refining, and over 80% of its usage is for paving and constructing roads.Global demand for asphalt has increased rapidly in the past 10 years and will continue to grow in the coming years. At present consumption of asphalt is dominated by North America and Europe but the fastest-growing segment of the market is the Asia Pacific region. Here, in countries such as China, road and highway construction, to accommodate the burgeoning private and commercial vehicle population, is driving the market for paving asphalt. Over the next few years, this rapid growth will turn the Asia Pacific region into the largest market for asphalt. These emerging markets for asphalt include China, India, and the Philippines. This rapid increase in the growth of highways and roads is the result of the need for efficient road transport for trade and travel. Apart from the thousands of kilometers of highways, expressways, and roads, being built, the demand for road construction is showcased by the Asian Highway which runs across 32 countries. The agreement between these countries obliges them to bring the sections of the highway in their territories into conformity with the classification and design standards defined in the agreement. Because many countries cannot afford the high cost of building such a comprehensive road transport network, it was agreed that the first phase would be to develop and upgrade existing regional highways. The road construction has advanced rapidly, and currently, less than 10% of the 141,000 km Asian Highway remains to be upgraded. Although large sections of roads have been upgraded or new ones constructed, a large number of road construction projects are still under way or have not yet begun. The report provides an overview of the investment needs for the present and planned road construction projects. Road construction in these countries is funded by various sources, including government budgets, institutions like the World Bank and Asian Development Bank, foreign capital such as provided by the Japan Bank for International Cooperation, public private partnership sources. The report analyses the causes and direction of the growth of asphalt demand and supply in the Asia Pacific region, and illustrates this further through an overview of selected countries, that includes China, India, Indonesia, Laos, Thailand, Vietnam, and the Philippines. It offers an estimate of the present annual consumption of asphalt in the selected countries as well as the patterns of expected growth. The country overview covers major topics, such as current prices, government policies, seasonality, storage status, and demand and supply. For example, in China, asphalt production is controlled by the state and this leads to restrictions in some business opportunities but opens up others. In the case of India, the report includes a review of the status of its national highway development projects. As an important material for road surface paving, the demand for petroleum asphalt will grow steadily in the Asia-Pacific region in the coming years. This provides opportunities for companies to develop business in asphalt in this region in a variety of ways, which range from imports, distribution, trading, and the manufacture of bituminous mixtures and specialty additives for asphalt, to the transportation of raw materials in specialized tankers and technologies and equipment for the recycling of the bituminous aggregate. Other opportunities will come up in the investment and finance of these projects. Research for this report was conducted by Kline consultants and subject matter experts in the the Asia Pacific region, who are familiar with the latest developments in this field and the markets where they are applicable. Please Note: the instant online delivery is a Global License. Get Full Details About This Report >> |
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