Asphalt Concrete is the mixture of fillers, aggregates and bitumen/asphalt. Asphalt concrete is known by different names in different regions. Some of the commonly used names for asphalt concrete are blacktop, pavement, bitumen macadam or rolled asphalt. Asphalt concrete is a type of composite material which is used in construction of surface roads, pathways, airports, parking lots, in the core of embankment dams, railway beds etc. Asphalt concrete could be dense, moderate or open graded depending on its end use application. Asphalt concrete are usually classified into three layer categories. Asphalt concrete is used as base and binding layers to improve load bearing capacity. Asphalt concrete is durable and versatile material which is available in variety of mixes for variety of applications. Asphalt concrete can be recycled and it can withstand extreme climatic changes. Asphalt concrete gives a uniform finish along with high load bearing capacity which makes it popular in heavy construction industry. Asphalt concrete is IS EN 13108 and NRA specified for road works. Open graded asphalt concrete is used in the construction of playgrounds, footpaths and other sports facilities where water on the surface is to be drained via drainage system beneath the structure. Asphalt concrete can be modified with the help of certain polymers to increase its durability, thermal resistance along with other properties. Asphalt the major component of asphalt concrete is residue obtained during petroleum or crude oil distillation. Due to changing oil refining process and increasing oil prices is affecting the asphalt production. In certain regions there are regulations being imposed on the use of asphalt concretes.
Asphalt Concrete Market: Dynamics
Asphalt concrete is widely used in heavy construction industries for the construction of roadways, airport runways, large dams etc. Growth in heavy construction industries is leading to the up rise in Asphalt Concrete market. Growing population and urbanization is leading to the growth in the construction roadways, airports and other heavy construction infrastructures which is leading to the growth of asphalt concrete market. Technological advancement and growing transportation across the globe is obliging governments to launch new roadways, airports and other transport ways. Increasing crude oil prices and new oil refining process are uplifting the asphalt prices which might hinder the asphalt concrete market. Certain regions are adopting regulations on the use of asphalt concrete. As compared to asphalt concrete cement concrete are having low prices which might make the companies to shift their preference. Above enlisted parameters might dent the asphalt concrete market.
Asphalt Concrete Market: Segmentation
The global asphalt concrete market is segmented on the basis of its application, form and its end use.
The global asphalt concrete market can be segmented on the basis of its applications:
- Base course
- Binder course
- Surface course
The global asphalt market can be segmented on the basis of its product form:
The global asphalt market can be segmented on the basis of its end use:
- Railway Beds
- Airport runways
- Parking lots
- Embankment Dams
Asphalt Concrete Market: Regional Outlook
Increasing population and technological advancement is leading to the growth of heavy construction industries and increasing the number of government projects in the regions such as Asia Pacific, Latin America and Middle East & Africa which makes these regions prominent market for asphalt concrete. Eastern Europe is showing an up rising growth in the heavy construction industries which makes it budding market zone for asphalt concrete. Developed regions like North America & Western Europe are also coming up with new infrastructural projects, due to which these regions can be estimated as potential market for asphalt concrete.
Asphalt Concrete Market: Key Participants
The global key participants identified in the asphalt concrete market are:
- Roadstone Ltd.
- Tiki Tar Industries
- Jurgensen Companies
- Associated Asphalt
- SBORNE Companies Inc.
- King Asphalt Inc.
- American Asphalt Company
- Eastern Asphalt & Mixed Concrete Company W.L.L
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