Asphalt Manufacturing in the US
The Asphalt Manufacturing industry's performance closely follows developments in construction and road infrastructure building. The collapse of the construction sector following the financial crisis greatly eroded demand for industry products, leading to a substantial decline in industry revenue. After recovering strongly, the industry has remained relatively stable in the past five years. Demand was bolstered by government spending on road and highway construction early in the period, which helps demand for the paving asphalt used in the construction and maintenance of highways. The industry is expected to expand over the five years to 2022. Government funding for highways is anticipated to increase, especially as improvements in state and local government budgets expand tax revenue available for investment in road infrastructure. At the same time, residential and nonresidential construction activity is projected to grow.
Industry operators manufacture paving and roofing materials, including asphalt and tar-paving mixtures and blocks, shingles, roofing cements and coatings. These products are produced from purchased asphaltic materials, paper mats and felts. Operators do not refine the crude petroleum or produce the paper mats and felts that comprise industry products. Companies that conduct such services are included in the Petroleum Refining (IBISWorld report 32411) and Paper Mills (32212) industries.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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