According to the report published by Allied Market Reseaach, the global recycled asphalt market was valued $7.1 billion in 2019, and is anticipated to hit $10.4 billion by 2027, registering a CAGR of 5.9% from 2020 to 2027. The Recycled Asphalt Market report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Several environmental and economic benefits from using recycled asphalt drive the growth of the global recycled asphalt market. On the other hand, limitations in the usage of the material impede the growth to some extent. However, development in custom solutions and technologies is expected to create lucrative opportunities in the industry.
Based on type, the hot recycling segment accounted for more than three-fifths of the global recycled asphalt market share in 2019, and is projected to lead the trail by the end of 2027. The same segment would also register the fastest CAGR of 6.0% during the forecast period, owing to ease of handling and processing.
Based on application, the patch material segment contributed to nearly one-third of the global recycled asphalt market revenue in 2019, and is expected to retain its dominance till 2027, due to wide use of recycled asphalt in re-surfacing and potholes. Simultaneously, the road aggregate for unpaved roadways segment would grow at the fastest CAGR of 6.4% from 2020 to 2027.
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North America to rule the roost-
Based on region, North America generated the major share in 2019, holding more than two-fifths of the global recycled asphalt market, owing to rising application of recycled asphalt in reconstruction, resurfacing, and base development activities in the continent. The region across Asia-Pacific, on the other hand, would exhibit the fastest CAGR of 6.4% throughout the forecast period.
Key players in the industry-
1. Tokuyama Corporation
2. Evonik Industries AG
3. Merck Millipore Limited
4. Nippon Chemical Industrial Co. Ltd.
5. PQ Group Holdings Inc.
6. Occidental Petroleum Corporation
7. CIECH S.A.
8. Sinchem Silica Gel Co. Ltd.
9. Shijiazhuang Shuanglian Chemical Industry Co. Ltd.
10. Kiran Global Chem Limited
Key Benefits For Stakeholders
- The report provides an in-depth analysis and recycled asphalt market forecast along with the current and future market trends.
- This report highlights the key drivers, opportunities, and restraints of the recycled asphalt market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the recycled asphalt industry for strategy building.
- A comprehensive analysis of the factors that drive and restrain the recycled asphalt market growth is provided.
- The qualitative data in this report aims on recycled asphalt market trends, dynamics, and developments.
- The recycled asphalt market size is provided in terms of revenue.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable recycled asphalt market share.
By Type
Hot Recycling
Cold Recycling
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By Application
Patch Material
Hot-mix Asphalt
Temporary Driveways & Roads
Road Aggregate for Unpaved Roadways
Interlocking Bricks
New Asphalt Shingles
Energy Recovery
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
