The global asphalt market was valued at USD in 2018 and is expected to reach a value of USD billion by 2026, according to a new Straits Research study.

Asphalt, a petroleum product, is used as a binder in the paving of roads, manufacturing of roof materials, and other specialized uses, including coatings and waterproofing applications. Its properties, distinctive from those of other fuel products such as gasoline, jet fuel, diesel fuel, and residual fuel oil, provide a smooth surface for safe driving and generate less road noise, allowing for a comfortable travel experience. Attributing to these benefits, asphalt is rapidly replacing concrete in road infrastructure development and repair activities. The global asphalt market was valued at USD 72.6 billion in 2018 and is expected to reach a value of USD billion by 2026, with an anticipated CAGR of 5.19% during the forecast period, 2019–2026.

The Asphalt market report is the most important research for who looks for complete information on the global trends for the Asphalt market. This report covers all information on the Global as well as regional markets including old and future trends for market demand, supply, size, competitors, prices and Global predominant vendors' information. the report also provides a complete overview of Asphalt markets; including key players, types, manufacturing segment, cost, fluid market shares, and market dynamics in 2019.

Some of the key players in the global asphalt market are ExxonMobil, Imperial Oil, British Petroleum, Shell Bitumen, CEMEX, Valero Energy, Marathon Petroleum, Chevron, and Royal Dutch Shell. Among the different types of asphalt, hot mix asphalt is gaining traction in the asphalt market as it helps improve the performance of pavements by reducing rutting and cracking. Considering the extensive application of asphalt in road paving, the roadways segment by application is slated to register the most prominent growth. Governments of many emerging regions are focusing on recycling initiatives and investments in recycled asphalt (RAP), which is used to reconstruct worn highway surfaces and repair damaged roads.