US asphalt demand to grow

Demand for asphalt in the US construction sector is expected to grow 7.4%/year to 31.6 million tonnes in 2015, according to research by the Freedonia Group. This growth will show a rebound from the 2005-2010 period, when consumption declined sharply due to the recession. The Cleveland-based industry market research firm has produced its new study, Asphalt, which shows that paving products accounted for 80% of asphalt consumption in 2010. The report continues that demand for asphalt paving products will bene
April 30, 2012 Read time: 1 min
Demand for asphalt in the US construction sector is expected to grow 7.4%/year to 31.6 million tonnes in 2015, according to research by the 2821 Freedonia Group. This growth will show a rebound from the 2005-2010 period, when consumption declined sharply due to the recession. The Cleveland-based industry market research firm has produced its new study, Asphalt, which shows that paving products accounted for 80% of asphalt consumption in 2010. The report continues that demand for asphalt paving products will benefit from an expected increase in federal and state spending on highway and road construction. There will be continued growth from the low levels of 2010, when high asphalt prices led to a slowing in paving activity and a greater emphasis on repair as opposed to road replacement. Overall, demand for asphalt in paving is expected to increase 7.8%/year to 25.7 million tonnes in 2015.
Materials

For more information on companies in this article

Related Content

  • German firms see improving market share
    March 1, 2017
    In 2016, German manufacturers of construction equipment achieved a turnover of €9.3 billion, an increase of 3% compared to 2015. Of note though is that the same period, global sales of construction equipment declined by 1%. German companies managed to perform better than the world market and develop market share. In 2017, they expect another increase in sales by 3%.
    Read More
  • World growth in geosynthtics set to rise
    February 17, 2012
    With geosynthetics sales set to grow rapidly in the next three years, manufacturers are preparing for the demand. Patrick Smith reports. Global demand for geosynthetics is projected to increase 5.3% annually to 4.7 billion m² in 2013 with countries such as China, India and Russia expected to post the strongest gains through the forecast period. All are building large-scale infrastructure developments and face evolving environmental protection regulations and strict building construction codes.
    Read More
  • Economic and environmental asphalt recycling
    February 27, 2012
    Recycling materials offers the road ahead for highway construction - * Don Brock writes. Recycling has been used in the US for over 50 years in various industries. Today, steel is 100% recycled, and many other products that we have can be recycled.Environmental groups have aggressively pushed industries to recycle more, but it is either economically driven or legislatively driven.In the highway industry it has predominately been economically driven and discouraged by stakeholders such as aggregate producers
    Read More
  • Wacker Neuson’s strong results reflect demand for small equipment
    November 12, 2015
    The latest financial results for Wacker Neuson reveal strong demand for compact construction machines. The firm has reported revenue in excess of €1 billion for the first nine months of 2015. This marks an increase in business activity compared to the same period last year and a record high for the group. In light of the downturn in key markets in the third quarter, the company revised its forecast for 2015 downwards. However, it still expects to achieve record revenue business levels for 2015.
    Read More

Highlighted Content