Recycled Asphalt Market - Global Industry Analysis

Recycled Asphalt Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2028

Category: Chemical & Materials Report Format : PDF Report Code: ZMR-6904 Status : Upcoming

Description

Global Recycled Asphalt Market: Overview

Recycled asphalt refers to the combination of asphalt and associated aggregates that were recycled. Asphalt pavements are resized and milled again during the recycling process. The asphalt layer is initially crushed and then pulled away from the surface. Therefore, after stabilization, pulverization, and milling, asphalt is milled again. Also, asphalt is later pulverized to efficiently combine the asphalt and sublayer. Stabilization aids in mixing the crushed asphalt with tar, waterproofing material, and binding agents. Also, these are widely used for making roofing shingles. It cut down on the adoption of natural resources like coal and water.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Recycled Asphalt Market: Growth Factors

The global recycled asphalt market is likely to witness significant growth in the forthcoming years due to the surging petroleum prices globally. In addition, the adoption of reclaimed asphalt facilitates advantages for the optimum utilization of resources, thereby helping in saving the economy and environment. The repeated production procedure includes the ignition of fossil fuels, thereby polluting the environment by emitting carbon dioxide. The repeated production of asphalt further contributed to the pollution. The recycling of asphalt has emerged as one of the most effective ways to lower the production of toxins during the process. Furthermore, it is much more durable than virgin asphalt at very low prices. The recycled asphalt shingles facilitate better utility in several applications, including pavement activities, where these are mixed with virgin asphalt after being heated for repair and construction activities. Apart from this, the ceramics in recycled asphalt shingles function as the primary source of aggregate in the heated asphalt mix. As a result, it is likely to grow significantly during the requirement for mind aggregates. One of the major benefits of recycled asphalt pavements is that they are light-colored and do not absorb a lot of heat. On the other hand, the pavements made with virgin asphalt absorb a lot of heat from the sun, thereby heating the payment even after sunset time. As a result, the adoption of recycled asphalt pavement will hold a lot of growth prospects during the forecast period. The newly developed plants in urban areas highlight the reclaimed asphalt ratio with a maximum of 60%. But several companies are in the development and testing stage of using 100% asphalt recycling plants. The construction sector is likely to further propel the demand for optimum utilization of natural and sustainable resources. Thereby, the market leaders are involved in introducing new asphalt mix concepts without the fortification of current production capabilities.

Global Recycled Asphalt Market: Segmentation

The global recycled asphalt market can be segmented into types, applications, and regions.

By type, the market can be segmented into hot and cold recycling.

By application, the market can be segmented into energy recovery, new asphalt shingles, interlocking bricks, road aggregate for unpaved roadways, temporary driveways, hot mix asphalt, and patch material. The patch material segment accounts for the largest share in the global recycled asphalt market due to the high utilization of recycled asphalt in potholes and resurfacing. Additionally, the road aggregate for unpaved road segments is likely to spur with the considerable CAGR owing to the growing applications of recycled asphalt in unpaved roads due to the fact they hold more fraction of aggregate when compared to the virgin material.

Global Recycled Asphalt Market: Regional analysis

North America accounts for the largest share in the global recycled asphalt market due to the fast proliferating construction sector in the region. Additionally, the ongoing technological advancements and growing awareness among people regarding the advantages offered by recycled asphalt will further complement the growth of the regional market.

Asia Pacific is also likely to grow significantly during the forecast period due to the rising applications of recycled asphalt in base development, resurfacing, and reconstructing activities.

Global Recycled Asphalt Market: Competitive Players

Some of the significant players in the global recycled asphalt market include Bodean Company, Lone Star Paving, Cherry Companies, Shell Bitumen, Corporation., Sinopec, Owens Corning, Oldcastle Materials, GAF Materials, and CertainTeed.

Global Recycled Asphalt Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

 

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FrequentlyAsked Questions

The global recycled asphalt market is likely to witness significant growth in the forthcoming years due to the surging petroleum prices globally. In addition, the adoption of reclaimed asphalt facilitates advantages for the optimum utilization of resources, thereby helping in saving the economy and environment.

Some of the significant players in the global recycled asphalt market include Bodean Company, Lone Star Paving, Cherry Companies, Shell Bitumen, Corporation., Sinopec, Owens Corning, Oldcastle Materials, GAF Materials, and CertainTeed.

 

North America accounts for the largest share in the global recycled asphalt market due to the fast proliferating construction sector in the region. Additionally, the ongoing technological advancements and growing awareness among people regarding the advantages offered by recycled asphalt will further complement the growth of the regional market.

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