The global demand for Recycled Asphalt Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Recycled asphalt, also known as reclaimed asphalt pavement, is a reprocessed pavement consist of asphalt and its aggregates. The manufacture of virgin asphalt impels CO2 emissions as it needs the burning of fossil fuels. Therefore, the repeated manufacturer of asphalt magnifies environmental pollution and threatens the frugal nature of natural resources in the process. Thereby, the recycling of asphalt has evolved as an effective technique to reduce the overall production of toxins around the world. In addition to this, recycled asphalt provides higher durability as compared to virgin asphalt at lower prices. It plays a vital role in enhancing the durability and surfaces of gravel roads.
Market Dynamics
The market is mainly driven by offering excellent properties and enhance the average lifespan of a road is 10 to 30 years, which has led to reducing the cost of road construction. Rising urbanization and growing smart cities across the globe are also driving the growth of the market. Increasing investment in infrastructure in developing regions, especially in India and China, also boosts the demand over the forecast period. In addition to this, government initiatives to reduce the carbon footprint have led to the adoption of this technology over the forecast period. Hence, driving the market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of recycled asphalt. The growth and trends of recycled asphalt industry provide a holistic approach to this study.
Market Segmentation
This section of the recycled asphalt market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Hot Recycling
- Cold Recycling
By Application
- Patch Material
- Hot-mix Asphalt
- Temporary Driveways & Roads
- Road Aggregate for Unpaved Roadways
- Interlocking Bricks
- New Asphalt Shingles
- Energy Recovery
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Recycled Asphalt market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Recycled Asphalt Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the recycled asphalt market include Bodean Company, CertainTeed, Cherry Companies, Downer Group, GAF Materials, Lone Star Paving, Owens Corning, Pavement Recycling System, Inc., The Kraemer Company, LLC and Wirtgen Group. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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