Global Asphalt Market to Grow 2.4% Annually Through 2024
Roofing represents the next largest application for asphalt, with demand supported by the large asphalt shingle reroofing market in the US and Canada, as well as by the expanding low-slope bituminous roofing market in nonresidential applications in China.
- Roofing represents the next largest application for asphalt, with demand supported by the large asphalt shingle reroofing market in the US and Canada, as well as by the expanding low-slope bituminous roofing market in nonresidential applications in China.
- Despite near-term slowdowns in infrastructure spending due to the Covid-19 pandemic , such projects are expected to provide ongoing opportunities for global asphalt suppliers in these markets.
- This study examines global supply and demand for asphalt.
- Historical data (2009, 2014, and 2019) and forecasts for 2024 and 2029 are provided for asphalt demand in metric tons by region, product, net exports, and production for major countries.