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World Asphalt to 2015

As Quoted In International Construction 
 





Study #: 2847
Document Type: Industry Study
Date Published: Feb-2012
Format:
   Full study: PDF
   Section, Pages, Tables and Charts: HTML
Pages: 402
Full Study Price: $6,100.00
       

    

Demand in many of the world’s most developed asphalt markets, including North America, Western Europe and Japan, is expected to rebound through 2015 after recent declines.

Global consumption to rise 4.1% yearly through 2015

Global consumption of asphalt is forecast to advance 4.1 percent annually from a very weak 2010 base to 119.5 million metric tons in 2015, equivalent to 725 million barrels of primary asphalt. High petroleum prices combined with economic weakness and declining construction activity resulted in a significant drop in consumption in many of the world’s most developed asphalt markets over the 2005 to 2010 period. Demand in these markets, including North America, Western Europe and Japan, is expected to rebound through 2015.

North America to exhibit fastest regional gains

Gains will be fastest in North America, where the market for asphalt is expected to expand 6.5 percent per year through 2015. Demand for asphalt in both paving and roofing applications will be driven by the recovering US economy and increasing construction activity in the country. The region is a significant consumer of primary asphalt due to the size of the US and Canadian road networks and the dominant position of asphalt materials in the North American roofing market.

China, India to fuel strong growth in Asia/Pacific

The massive infrastructure development programs in China and India, two of the world’s fastest growing economies, will continue to drive strong growth in the Asia/Pacific region. Since 2005, the region has become the largest market for asphalt. China alone will account for nearly one-fifth of global asphalt demand in 2015.

Strong growth in asphalt markets in India and a moderate recovery in demand for asphalt in Japan will also contribute to gains. Consumption of asphalt in Western Europe is forecast to rise 1.8 percent annually through 2015. The region will construct new roads at one of the slowest paces in the world. Paving asphalt consumed in road repair and maintenance applications will account for the majority of gains. Western Europe will post the slowest growth in the world for asphalt used in roofing markets, reflecting the slowest regional growth in building construction spending.

Paving products dominate world asphalt demand

Paving products accounted for nearly 80 percent of total asphalt demand in 2010. Asphalt is the dominant material in the paving segment, particularly in Western Europe and North America, where it is widely favored over concrete in most road paving applications. In roofing markets, on the other hand, asphalt holds a dominant position in several key areas (the US and Canada, for example). Going forward, greater acceptance of modified bitumen membranes in lowslope roofing and asphalt shingles in steep-slope roofing will boost demand, particularly in China, where asphalt roofing occupies a small but growing share of the large roofing market.

Study Scope

This study analyzes the 98 million metric ton world asphalt industry. It presents historical demand data for the years 2000, 2005 and 2010, and forecasts for 2015 and 2020 for primary asphalt, asphalt products (e.g., paving, roofing), world region and for 24 major countries.

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 37 industry players, including NuStar Energy, Royal Dutch Shell and Exxon Mobil.
 










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