GITNUX MARKETDATA REPORT 2024

Asphalt Industry Statistics

The asphalt industry statistics provide insights into production levels, market demand, employment trends, and environmental impact of asphalt materials and products.

With sources from: grandviewresearch.com, globenewswire.com, fortunebusinessinsights.com, eapa.org and many more

Statistic 1

The global asphalt market size was valued at USD 32.2 billion in 2018.

Statistic 2

The asphalt market is predicted to grow at a CAGR of 4.2% from 2021 to 2028.

Statistic 3

The United States has over 3,500 asphalt production sites.

Statistic 4

Over 94% of roadway is surfaced with asphalt in the United States.

Statistic 5

In 2019, the global asphalt market volume said to be around 1,418 million tons.

Statistic 6

The U.S. asphalt manufacturing industry alone generates about $10 billion in annual revenue.

Statistic 7

In 2019, the U.S. produced around 397 million metric tons of asphalt.

Statistic 8

In India, the asphalt market size was USD 2.8 billion in 2018.

Statistic 9

China dominates the global asphalt consumption, occupying nearly 40.2% in 2019.

Statistic 10

In Canada, asphalt plant production has increased from 5.03 million tons in 2009 to 6.70 million tons in 2018.

Statistic 11

Every year, European asphalt pavement industry produces about 275 million tons of asphalt.

Statistic 12

Reclaimed asphalt accounts for approximately 21% of asphalt's total production in Europe.

Statistic 13

In the U.S, more than 100 million tons of RAP (reclaimed asphalt pavement) were collected for re-use in 2019.

Statistic 14

Asphalt industry recycles and reuses nearly 100 million tons of asphalt pavement a year.

Statistic 15

The asphalt services market in the U.S. is forecasted to reach $37.8 billion by 2023.

Statistic 16

The future hot-mix asphalt market is forecast to grow from $72.4 billion in 2020 to $131.3 billion in 2027.

Statistic 17

More than 30,000 American jobs are tied to the asphalt production industry.

Statistic 18

The paving asphalt product industry revenue in the U.S. decreased by 4.6% in 2020 due to COVID-19.

Statistic 19

There are nearly 2,400 companies involved in asphalt production in the United States.

Statistic 20

The asphalt manufacturing industry in the U.S. is expected to grow by 1.8% in 2021.

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In this post, we will explore key statistics and trends in the asphalt industry, shedding light on its global market size, production sites, consumption patterns, revenue generation, and the impact of factors like reclaimed asphalt and the COVID-19 pandemic. From the significant role of countries like the United States and China to the growth forecasts and employment opportunities within the industry, these statistics paint a comprehensive picture of the asphalt market’s present landscape and future trajectory.

Statistic 1

"The global asphalt market size was valued at USD 32.2 billion in 2018."

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Statistic 2

"The asphalt market is predicted to grow at a CAGR of 4.2% from 2021 to 2028."

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Statistic 3

"The United States has over 3,500 asphalt production sites."

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Statistic 4

"Over 94% of roadway is surfaced with asphalt in the United States."

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Statistic 5

"In 2019, the global asphalt market volume said to be around 1,418 million tons."

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Statistic 6

"The U.S. asphalt manufacturing industry alone generates about $10 billion in annual revenue."

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Statistic 7

"In 2019, the U.S. produced around 397 million metric tons of asphalt."

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Statistic 8

"In India, the asphalt market size was USD 2.8 billion in 2018."

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Statistic 9

"China dominates the global asphalt consumption, occupying nearly 40.2% in 2019."

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Statistic 10

"In Canada, asphalt plant production has increased from 5.03 million tons in 2009 to 6.70 million tons in 2018."

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Statistic 11

"Every year, European asphalt pavement industry produces about 275 million tons of asphalt."

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Statistic 12

"Reclaimed asphalt accounts for approximately 21% of asphalt's total production in Europe."

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Statistic 13

"In the U.S, more than 100 million tons of RAP (reclaimed asphalt pavement) were collected for re-use in 2019."

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Statistic 14

"Asphalt industry recycles and reuses nearly 100 million tons of asphalt pavement a year."

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Statistic 15

"The asphalt services market in the U.S. is forecasted to reach $37.8 billion by 2023."

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Statistic 16

"The future hot-mix asphalt market is forecast to grow from $72.4 billion in 2020 to $131.3 billion in 2027."

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Statistic 17

"More than 30,000 American jobs are tied to the asphalt production industry."

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Statistic 18

"The paving asphalt product industry revenue in the U.S. decreased by 4.6% in 2020 due to COVID-19."

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Statistic 19

"There are nearly 2,400 companies involved in asphalt production in the United States."

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Statistic 20

"The asphalt manufacturing industry in the U.S. is expected to grow by 1.8% in 2021."

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Interpretation

The statistics presented show a thriving global asphalt industry, with significant market size and growth projections. The United States stands out as a key player, with a large number of production sites, high roadway surfacing rates, and substantial revenue generation. Recycling and reusing practices are also prominent, demonstrating a commitment to sustainability. Despite challenges such as the impact of COVID-19, the industry is forecasted to continue expanding, creating jobs and driving economic growth. In conclusion, the asphalt industry's outlook is positive, with opportunities for further development and innovation on the horizon.

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