Building Asphalt Market size was valued at USD 35.5 Billion in 2024 and is projected to reach USD 48.9 Billion by 2033, exhibiting a CAGR of 4.2% from 2026 to 2033.
The global building asphalt market was valued at approximately USD 43.4 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. The demand for building asphalt is largely driven by the increasing construction activities, particularly in emerging economies, as well as the growing need for durable and sustainable building materials. Asphalt, widely used in roofing, flooring, and waterproofing applications, remains an integral material in the construction industry due to its cost effectiveness and versatility. The global market is anticipated to witness steady growth, with a rising adoption of asphalt in various infrastructure and building projects worldwide.
Regionally, North America dominated the building asphalt market in 2022, accounting for a significant market share of around 35%. The U.S., in particular, holds a major share due to substantial demand from both residential and commercial construction sectors. Europe and Asia Pacific are also key regions contributing to market growth, with Asia Pacific expected to exhibit the highest CAGR of 6.1% during the forecast period. This growth is primarily attributed to rapid urbanization, expanding infrastructure projects, and government initiatives aimed at enhancing construction and urban development. The Latin American and Middle Eastern regions are also expected to experience steady growth due to infrastructure modernization and increasing investment in sustainable building materials.
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British Petroleum
CEMEX
ExxonMobil
Imperial Oil
Shell Bitumen
Neustar
Nynas
PEMEX
Valero Energy
Marathon Petroleum
Chevron
Royal Dutch Shell
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Building Asphalt Market
Hot Mix Asphalt (HMA)
Warm Mix Asphalt (WMA)
Cold Mix Asphalt (CMA)
Segmented Asphalt
Porous Asphalt
Road Construction
Pavement Maintenance
Airports and Runways
Parking Lots
Residential Streets
Transportation Infrastructure
Commercial Construction
Residential Construction
Public Sector Projects
Industrial Applications
Batch Mix
Continuous Mix
Drum Mix
Recycling Processes
Emulsion Processes
Polymer-modified Asphalt
Recycling Agents
Warm Mix Additives
Anti-stripping Agents
Coloring Agents
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Building Asphalt Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Building Asphalt Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Building Asphalt Market, By Type
6. Global Building Asphalt Market, By Application
7. Global Building Asphalt Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Building Asphalt Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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