The global market for Asphalt is projected to reach nearly 152.3 million metric tons by 2025, driven by the growing focus on infrastructure development in both the developing and developed markets alike. A key driver of optimism for bigger transportation development budgets in the coming years, is the infrastructure gap in global roadways to the tune of US$ 8 trillion for the cumulative period 2016-2040, which remains the highest as compared to $2 trillion for rail, $3 trillion for energy, $1 trillion for water & $2 trillion for telecom. Benefits of asphalt driving its popularity as the preferred construction material for roads, pavements and bridges include the ability to provide a smooth surface for safe driving and generate less road noise allowing for a comfortable travel experience; cost-effective when compared to conventional concrete; asphalt roads can be easily and quickly laid; are easier to maintain; are environment friendly as asphalt is 100% recyclable; durability and high performance of asphalt roads and bridges; and easy removal and replacement of damaged asphalt. All of these factors are driving the rapid replacement of concrete by asphalt. In residential and commercial construction, asphalt is used for roofing, and for building driveways and walkways and is increasingly being preferred for its easy maintenance and relatively simple crack repair and patching. Rising home values against the backdrop of recovering residential and commercial construction is therefore poised to benefit growth in the market. Read More…

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