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Recycled Asphalt Market to Garner $10.4 Billion, Globally, By 2027 at 5.9 % CAGR, Says Allied Market Research

Several environmental and economic benefits from using recycled asphalt drive the growth of the global recycled asphalt market

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Allied Market Research

Feb 15, 2021, 08:15 ET

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PORTLAND, Ore., Feb. 15, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Global Recycled Asphalt Market by Type (Hot Recycling and Cold Recycling) and Application (Patch Material, Hot-Mix Asphalt, Temporary Driveways & Roads, Road Aggregate for Unpaved Roadways, Interlocking Bricks, New Asphalt Shingles, and Energy Recovery): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global recycled asphalt industry was estimated at $7.1 billion in 2019, and is anticipated to hit $10.4 billion by 2027, registering a CAGR of 5.9% from 2020 to 2027.

Drivers, restraints, and opportunities-

Several environmental and economic benefits from using recycled asphalt drive the growth of the global recycled asphalt market. On the other hand, limitations in the usage of the material impede the growth to some extent. However, development in custom solutions and technologies is expected to create lucrative opportunities in the industry.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/9820

Covid-19 scenario-

  • The outbreak of the pandemic led to sharp decline in the infrastructural and construction activities across the world, which in turn set off an overall deceased demand for recycled asphalt from several industry verticals. This factor impacted the global market negatively.
  • However, with several government bodies coming along with relaxations on the existing regulations, the global recycled asphalt market is expected to revive its position soon.

The hot recycling segment to dominate by 2027-

Based on type, the hot recycling segment accounted for more than three-fifths of the global recycled asphalt market share in 2019, and is projected to lead the trail by the end of 2027. The same segment would also register the fastest CAGR of 6.0% during the forecast period, owing to ease of handling and processing.

The patch material segment to maintain the dominant share-

Based on application, the patch material segment contributed to nearly one-third of the global recycled asphalt market revenue in 2019, and is expected to retain its dominance till 2027, due to wide use of recycled asphalt in re-surfacing and potholes. Simultaneously, the road aggregate for unpaved roadways segment would grow at the fastest CAGR of 6.4% from 2020 to 2027.

Get Detailed COVID-19 Impact Analysis on the Recycled Asphalt Market @ https://www.alliedmarketresearch.com/request-for-customization/9820?reqfor=covid

North America to rule the roost-

Based on region, North America generated the major share in 2019, holding more than two-fifths of the global recycled asphalt market, owing to rising application of recycled asphalt in reconstruction, resurfacing, and base development activities in the continent. The region across Asia-Pacific, on the other hand, would exhibit the fastest CAGR of 6.4% throughout the forecast period.

Key players in the industry-

  • Tokuyama Corporation
  • Evonik Industries AG
  • Merck Millipore Limited
  • Nippon Chemical Industrial Co. Ltd.
  • PQ Group Holdings Inc.
  • Occidental Petroleum Corporation
  • CIECH S.A.
  • Sinchem Silica Gel Co. Ltd.
  • Shijiazhuang Shuanglian Chemical Industry Co. Ltd.
  • Kiran Global Chem Limited.

Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/recycled-asphalt-market/purchase-options

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Asphalt Additives Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Recycled Glass Market: Opportunity Analysis and Industry Forecast, 2020–2025

Recycled Textile Market: Global Opportunity Analysis and Industry Forecast, 2019–2026

Geogrid Market: Global Opportunity Analysis and Industry Forecast, 2019–2026

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
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SOURCE Allied Market Research

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