The two main components of the asphalt concrete market are Mineral aggregates and asphalt concrete. A hard, inert substance known as sand, gravel, crushed stone, slag, or rock dust is referred to as a mineral aggregate. There are several applications for asphalt cement, which is a strong, flexible, chemical- and weather-resistant binding medium. It is usually employed to join crushed stone and aggregate to create a resistant, hard surface. The most typical surfaces for parking lots, airports, surface roads, and embankment dams are asphalt concrete. Asphalt concrete is also referred to as asphalt, blacktop, bitumen macadam, or rolled asphalt in different parts of the world. Only construction and technical documents, which define concrete as a composite material of mineral aggregates held with a binder, typically use the words asphalt concrete and bituminous concrete.
A by-product of the refining of crude oil is asphalt concrete. Crude petroleum is delivered via oil wells to oil refineries, where it is divided into a variety of parts or fractions. Crude oil is first refined in a distillation unit and then in an atmospheric distillation unit. Asphalt, a byproduct of the vacuum distillation process, is used to make asphalt concrete. When asphalt concrete is emulsified, liquid asphalt is created that can easily be pumped via pipes and combined with the aggregate.
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The worldwide Asphalt Concrete market is expected to grow at a booming CAGR of 2022-2028, rising from USD billion in 2021 to USD billion in 2028. It also shows the importance of the Asphalt Concrete market main players in the sector, including their business overviews, financial summaries, and SWOT assessments.
Concrete made of asphalt is recyclable and frequently used in construction. Recycling of asphalt and concrete occurs on both a large and local scale. A hot mix facility is utilised in large-scale recycling. The user divides the asphalt material into three categories for small-scale recycling: blacktop cookies, reclaimed asphalt pavement (RAP), and asphalt millings.
The asphalt concrete market can be divided into categories based on type, including others, warm-mix asphalt concrete, cold-mix asphalt concrete, and hot-mix asphalt concrete. The asphalt binder is heated to lessen its viscosity and create hot-mix asphalt concrete. The warm-mix variety is created by mixing in wax, zeolites, and occasionally even water. In order to create the cold-mix type, the asphalt is first emulsified in water with soap before being combined with the aggregate.
The asphalt concrete market may be segmented based on application into highways and streets, airport runways, roofing, and others. For residential low slope roofing on buildings like townhouses and condominium complexes, asphalt concrete is frequently used.
Since bitumen is utilised in the construction of roads, the market’s growth is projected to trend upward. The main factors influencing the market trend include an increase in asphalt paving construction, favourable funding, awareness of the need to improve aged infrastructure, and advancements in non-building construction activities, such as highway and street segments. Furthermore, as many governments invest in infrastructure projects like highway or roadway repair, road building, and rehabilitation, good economic conditions would further increase overall revenue in the construction business. Growth would also be fueled by improved technology development in the mixing facilities and manufacturers’ efforts to create creative solutions to meet consumer demand. Additionally, they make an effort to meet industry standards.
Regional Analysis:
The global asphalt concrete market may be divided into five different geographic regions: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. During the projection period, North America is expected to command the global market, followed by Europe. It’s expected that the Asia Pacific market would grow quickly. Due to increased infrastructure expenditure, developing nations like China and India are predicted to open up attractive potential for the market. An insignificant portion of the global market is made up of Latin America, the Middle East, and Africa. Whereas precise location are North America: (United States, Canada, Europe, Germany, France, U.K., Italy, Russia),Asia-Pacific: (China, Japan, South Korea, Australia, Taiwan, Indonesia, Thailand, Malaysia),Latin America: (Mexico, Brazil, Argentina, Colombia),Middle East and Africa: (Turkey, Saudi Arabia, UAE).
Competitive analysis:
McAsphalt,CEMEX,Kilsaran,Lagan Group,Coldec Group,The Gorman Group,Zeon Corporation,Teichert,BP, CEMEX S.A.B. de C.V., Exxon Mobil Corporation, Imperial Oil Limited, Royal Dutch Shell Group, Aggregate Industries, Akzo Nobel N.V., Anglo American, Atlas Roofing Corporation, China Petroleum & Chemical Corporation, Inland Asphalt, and United Refining Company are a few of the major international players in the asphalt concrete market.
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Table of Contents:
1. Asphalt Concrete Market Overview
2. Impact on Asphalt Concrete Market Industry
3. Asphalt Concrete Market Competition
4. Asphalt Concrete Market Production, Revenue by Region
5. Asphalt Concrete Market Supply, Consumption, Export and Import by Region
6. Asphalt Concrete Market Production, Revenue, Price Trend by Type
7. Asphalt Concrete Market Analysis by Application
8. Asphalt Concrete Market Manufacturing Cost Analysis
9. Internal Chain, Sourcing Strategy and Downstream Buyers
10. Marketing Strategy Analysis, Distributors/Traders
11. Market Effect Factors Analysis
12. Asphalt Concrete Market Forecast (2022-2028)
13. Appendix
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