According to a market report by Lucintel, the future of the recycled asphalt market looks promising with opportunities in the patch material, hot-mix asphalt, temporary driveway & road, road aggregate for unpaved roadway, interlocking brick, new asphalt shingle, and energy recovery applications. The global recycled asphalt market is expected to reach an estimated $9.7 billion by 2028 with a CAGR of 5.3% from 2023 to 2028. The major drivers for this market are growing use of recycled asphalt for reconstructing and resurfacing activities, increasing demand for these asphalts as an affordable and long-lasting alternative of concrete, and rising environmental concerns towards global warming.
In this market, hot recycling and cold recycling are the two types of recycled asphalt used by various end use industries. Lucintel forecasts that hot recycling is expected to witness higher growth over the forecast period due to the rising demand for these asphalts because of its ease of handling and processing.
Within this market, patch material is expected to witness highest growth over the forecast period because it is affordable, ensures efficiency in all weather conditions, and reduces the chance of potholes and road damages.
APAC is expected to witness highest growth over the forecast period due to the favourable economic investment in the construction and renovation of infrastructure in the region.
Bodean, CertainTeed, Cherry Companies, Downer Group, and GAF Materials are the major suppliers in the global recycled asphalt market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global recycled asphalt market by product type, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Recycled Asphalt Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global recycled asphalt market by product type, application, and region, as follows:
Recycled Asphalt Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Hot Recycling
Cold Recycling
Recycled Asphalt Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Patch Material
Hot-mix Asphalt
Temporary Driveways & Roads
Road Aggregate for Unpaved Roadways
Interlocking Bricks
New Asphalt Shingles
Energy Recovery
Recycled Asphalt Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the recycled asphalt market by product type (hot recycling and cold recycling), application (patch material, hot-mix asphalt, temporary driveways & roads, road aggregate for unpaved roadways, interlocking bricks, new asphalt shingles, and energy recovery), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?