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
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
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.
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.