Runway Pavement Grade Asphalt Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2028

Runway Pavement Grade Asphalt Market Definition and Introduction

Asphalt is a construction material widely used for paving roads, runways, racing tracks, parking areas, and recreational areas. Aggregates, binder and fillers mixed together produce asphalt for paving applications. Sand, crushed rocks, slags or gravel are the materials used for aggregates. Aggregates make up nearly 95% of a typical asphalt mix by volume, with the remaining 5% accounted for by the binding or filler material which most commonly is bitumen. Bitumen is a viscous liquid or semi-solid material which is black in color and acts as the medium that binds the aggregates together. It is composed of polycyclic hydrocarbons and obtained as a by-product of petroleum processing. Asphalt is produced in a fixed or mobile plant which carries out the heating, drying and mixing of the aggregates and bitumen to form a composed mixture. Runway Pavement Grade Asphalt is used on the site of application through paving machines which lay down the mixture in a solid form as per the required thickness. Runway Pavement Grade Asphalt is widely preferred over concrete because of their smooth surface, good gripping ability, and faster construction times. Asphalt pavements are also known as flexible pavements due to the ability of asphalt to adjust to imperfections in the sub-layers on top of which it is laid. Asphalt pavements are widely used in airports across the world for paving runways, taxiways, hangar floors, aircraft parking and maintenance areas, access roads and aircraft re-fueling areas. Asphalt pavements provide safe and reliable performance for small airports as well as large airports which handle some of the largest aircrafts in the world.   

Considering these aspects of the asphalt pavements, the study of the Runway Pavement Grade Asphalt market becomes an important read, as it has a direct bearing on the safety, performance and profitability of airports and airlines across the world.

Runway Pavement Grade Asphalt Market Dynamics

Airport runways are one of the most critical areas of use for aircrafts as the safe take-off and landings are dependent on the runway surface. Runway pavement needs to have sufficient strength for handling aircrafts moving at high speeds. Runways require high levels of skid resistance, stability and absence of any debris to avoid possibility of mishaps. The design of airport pavements is a complex engineering task and involves deep analysis of the subgrade (natural soil conditions), materials used for paving construction, the nature of aircraft loads and effect of climatic conditions. Thus, the asphalt mix used for construction runway pavements has to be of the highest quality and needs to meet regulatory and design standards laid down by the respective aviation authorities. The airline industry is growing at a fast rate with increasing number of passengers as a result of higher personal incomes, changing lifestyle requirements, lowering air travel costs and vastly improved airline safety. It is estimated that in the U.S. alone, annual air passenger traffic will touch 1 billion people by 2025. The fast-growing economies of Asia-Pacific and the Middle East have provided higher spending power to an increasing number of people, with more need for business and leisure traveling. Thus airport authorities across the world will need to either expand or improve their infrastructure to meet the growing needs of the airline industry. Spending on construction or repair of runways and taxiways forms nearly half of the spending on a typical airport improvement program, which will help drive the market for runway pavement grade asphalt. Improving technology for asphalt mix design will also help drive the market, as new mixtures provide better performance than the Marshall-designed mix which has been in wide use over the past years. 

Runway Pavement Grade Asphalt Market Segmentation

On the basis of mixture design, the Runway Pavement Grade Asphalt market is segmented as follows:

• Marshall-designed
• Stone Mastic Asphalt (SMA)
• Open Graded Friction Course (OGFC)
• Superpave (Superior Performing Asphalt Pavement)
• HVEEM

On the basis of runway configuration, the Runway Pavement Grade Asphalt market is segmented as follows:

• Single
• Intersecting
• Parallel
• Open-V

On the basis of application, the Runway Pavement Grade Asphalt market is segmented as follows:

• General Aviation Airports
• Commercial Airports
• Private Airports
• Military Airports

Runway Pavement Grade Asphalt Market Participants

Examples of the market participants in the Runway Pavement Grade Asphalt market are as follows:

• Aggregate Industries
• Jurgensen Companies
• CRH plc
• LafargeHolcim
• Vulcan Materials Company
• Oldcastle Materials, Inc.
• Martin Marietta Aggregates
• Lehigh Hanson
• Royal Dutch Shell plc
• BP Plc
• Exxon Mobil Corporation
• Sinopec
• PetroChina
• China National Offshore Oil Corporation
• China Petroleum Jiangsu Co., Ltd

The research report presents a comprehensive assessment of the Runway Pavement Grade Asphalt market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.

The Runway Pavement Grade Asphalt market report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Argentina, Chile, Peru)
• Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
• CIS and Russia
• Asia-Pacific (China, India, ASEAN, South Korea)
• Japan
• Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR