Asphalt demand has been rising globally due to the increasing number of cars on the road and the upgrading of infrastructure in third world countries.
According to analysis by Freedonia Group, the global demand for asphalt will increase through 2009 based on increase in construction activity in Latin America, Western Europe and Japan, as well as on continued strong growth in China and India.
Of the asphalt products, the research group suggests that asphalt emulsions and polymer modified asphalts will grow the fastest.
According to the company, the total size of the world asphalt industry in 2004 was 102 million metric tons.
In 2004, it was estimated that paving products accounted for 85% of world demand for asphalt.
It has been also estimated that the demand for asphalt products in the U.S. is to advance about 1.2% annually to 38.8 million tons in 2009, valued at over $12 billion at that time.
Of the rapidly rising countries, according to a report by Mumbai India based consultants Bharat Book Bureau titled “Asphalt in China forecasts to 2010 & 2015” , the asphalt market in China has expanded to around 12.5 per cent per year during the period from 1995-2005 and topped 12.3 million metric tones in the year 2005.
The report estimates that demand will continue to rise in these areas, rising 6.0 per cent annually through 2010 to over 16 million metric tones.
These estimates are based on the expected robust growth in the booming construction industry in China.
From Asphalt Demand page to Asphalt Guide index