Global Asphalt Market 2025-2029

Asphalt Market 2025-2029

The asphalt market is forecasted to grow by USD 17378 mn during 2024-2029, accelerating at a CAGR of 5.1% during the forecast period. The report on the asphalt market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by infrastructure development and road construction, urbanization and population growth, and increased demand for waterproofing.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's asphalt market is segmented as below:

By Product Type

• Hot mix asphalt
• Warm mix asphalt
• Cold mix asphalt
• Others

By End-user

• Non-residential construction
• Residential construction
• Others

By Application

• Paving
• Roofing
• Waterproofing

By Geographical Landscape

• APAC
• North America
• Europe
• Middle East and Africa
• South America

This study identifies the focus on sustainable production as one of the prime reasons driving the asphalt market growth during the next few years. Also, increasing adoption of modified asphalt and emergence of smart and high-performance asphalt solutions will lead to sizable demand in the market.

The report on the asphalt market covers the following areas:

• Asphalt Market sizing
• Asphalt Market forecast
• Asphalt Market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading asphalt market vendors that include Aggregate Industries UK Ltd., Boral Ltd., BP Plc, CEMEX SAB de CV, Chevron Corp., CRH Plc, Exxon Mobil Corp., HeidelbergCement AG, Marathon Petroleum Corp., Owens Corning, Repsol SA, Shell plc, Sinopec Shanghai Petrochemical Co. Ltd., TotalEnergies SE, United Refining Co., Valero Energy Corp., and Vulcan Materials Co.. Also, the asphalt market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. Show more