-- The global recycled asphalt industry was estimated at $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.
Drivers, restraints, and opportunities-
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.
Get Exclusive PDF Sample Copy Of This Report: https://www.alliedmarketresearch.com/request-sample/9820
Covid-19 scenario-
• The outbreak of the pandemic led to sharp decline in the infrastructural and construction activities across the world, which in turn set off an overall deceased demand for recycled asphalt from several industry verticals. This factor impacted the global market negatively.
• However, with several government bodies coming along with relaxations on the existing regulations, the global recycled asphalt market is expected to revive its position soon.
The hot recycling segment to dominate by 2027-
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.
The patch material segment to maintain the dominant share-
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.
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-
• Tokuyama Corporation
• Evonik Industries AG
• Merck Millipore Limited
• Nippon Chemical Industrial Co. Ltd.
• PQ Group Holdings Inc.
• Occidental Petroleum Corporation
• CIECH S.A.
• Sinchem Silica Gel Co. Ltd.
• Shijiazhuang Shuanglian Chemical Industry Co. Ltd.
• Kiran Global Chem Limited.
Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/recycled-asphalt-market/purchase-options
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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Website: https://www.alliedmarketresearch.com
Release ID: 89031016
Google
RSS