Global Asphalt
Market Report
2025
Delivery Includes:- Market Timeline 2021 till 2033, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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"Global Asphalt market size 2025 is $66.1 Billion whereas according out published study it will reach to $91.441 Billion by 2033. Asphalt market will be growing at a CAGR of 4.14% during 2025 to 2033."
As per the current market study, out of 66.1 Billion USD global market revenue 2025, North America market holds 22.75% of the market share. The North America Asphalt industry grew from 13.038 Billion USD in 2021 to 15.037 Billion USD in 2025 and will record 86.71% growth. In coming future this industry will reach 20.006 Billion by 2033 with a 3.633% CAGR. If we look at the percentage market shares of top North America countries for 2025,United States (76.90%), Canada (12.60%), Mexico (10.50%)
As per the current market study, out of 66.1 Billion USD global market revenue 2025, Europe market holds 20.29% of the market share. The Europe Asphalt industry grew from 11.296 Billion USD in 2021 to 13.412 Billion USD in 2025 and will record 84.22% growth. In coming future this industry will reach 19.048 Billion by 2033 with a 4.482% CAGR. If we look at the percentage market shares of top Europe countries for 2025,United Kingdom (15.10%), Germany (19.71%), France (14.30%), Italy (11.33%), Russia (9.45%), Spain (8.10%), Sweden (2.38%), Denmark (1.47%), Switzerland (2.46%), Luxembourg (1.73%), Rest of Europe (13.99%)
As per the current market study, out of 66.1 Billion USD global market revenue 2025, Asia Pacific market holds 39.30% of the market share. The Asia Pacific Asphalt industry grew from 21.243 Billion USD in 2021 to 25.979 Billion USD in 2025 and will record 81.77% growth. In coming future this industry will reach 38.246 Billion by 2033 with a 4.953% CAGR. If we look at the percentage market shares of top Asia Pacific countries for 2025,China (33.10%), Japan (19.30%), India (19.00%), South Korea (7.00%), Australia (4.16%), Singapore (3.46%), South East Asia (5.52%), Taiwan (1.62%)
As per the current market study, out of 66.1 Billion USD global market revenue 2025, South America market holds 5.02% of the market share. The South America Asphalt industry grew from 3.147 Billion USD in 2021 to 3.316 Billion USD in 2025 and will record 94.90% growth. In coming future this industry will reach 3.696 Billion by 2033 with a 1.367% CAGR. If we look at the percentage market shares of top South America countries for 2025,Brazil (38.90%), Argentina (19.51%), Colombia (7.75%), Peru (6.27%), Chile (6.15%), Rest of South America (21.41%)
As per the current market study, out of 66.1 Billion USD global market revenue 2025, Middle East market holds 3.46% of the market share. The Middle East Asphalt industry grew from 2.136 Billion USD in 2021 to 2.29 Billion USD in 2025 and will record 93.28% growth. In coming future this industry will reach 2.643 Billion by 2033 with a 1.804% CAGR. If we look at the percentage market shares of top Middle East countries for 2025,Saudi Arabia (40.09%), Turkey (19.52%), UAE (11.40%), Egypt (9.34%), Qatar (6.72%), Rest of Middle East (12.93%)
As per the current market study, out of 66.1 Billion USD global market revenue 2025, Africa market holds 9.18% of the market share. The Africa Asphalt industry grew from 5.339 Billion USD in 2021 to 6.065 Billion USD in 2025 and will record 88.03% growth. In coming future this industry will reach 7.803 Billion by 2033 with a 3.199% CAGR. If we look at the percentage market shares of top Africa countries for 2025,Nigeria (18.24%), South Africa (43.61%), Rest of Africa (38.17%)
2021 | 2025 | 2033 | CAGR | |
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Global Asphalt Market Sales Revenue | $ 56.199 Billion | $ 66.1 Billion | $ 91.441 Billion | 4.14% |
North America Asphalt Market Sales Revenue | $ 13.038 Billion | $ 15.037 Billion | $ 20.006 Billion | 3.633% |
United States Asphalt Market Sales Revenue | $ 10.079 Billion | $ 11.563 Billion | $ 15.284 Billion | 3.548% |
Canada Asphalt Market Sales Revenue | $ 1.604 Billion | $ 1.895 Billion | $ 2.601 Billion | 4.04% |
Mexico Asphalt Market Sales Revenue | $ 1.356 Billion | $ 1.579 Billion | $ 2.121 Billion | 3.756% |
Europe Asphalt Market Sales Revenue | $ 11.296 Billion | $ 13.412 Billion | $ 19.048 Billion | 4.482% |
United Kingdom Asphalt Market Sales Revenue | $ 1.728 Billion | $ 2.025 Billion | $ 2.799 Billion | 4.131% |
Germany Asphalt Market Sales Revenue | $ 2.191 Billion | $ 2.643 Billion | $ 3.848 Billion | 4.812% |
France Asphalt Market Sales Revenue | $ 1.649 Billion | $ 1.918 Billion | $ 2.685 Billion | 4.297% |
Italy Asphalt Market Sales Revenue | $ 1.265 Billion | $ 1.519 Billion | $ 2.199 Billion | 4.736% |
Russia Asphalt Market Sales Revenue | $ 1.062 Billion | $ 1.268 Billion | $ 1.81 Billion | 4.554% |
Spain Asphalt Market Sales Revenue | $ 0.859 Billion | $ 1.087 Billion | $ 1.561 Billion | 4.63% |
Sweden Asphalt Market Sales Revenue | $ 0.271 Billion | $ 0.319 Billion | $ 0.447 Billion | 4.306% |
Denmark Asphalt Market Sales Revenue | $ 0.169 Billion | $ 0.197 Billion | $ 0.274 Billion | 4.195% |
Switzerland Asphalt Market Sales Revenue | $ 0.282 Billion | $ 0.33 Billion | $ 0.462 Billion | 4.311% |
Luxembourg Asphalt Market Sales Revenue | $ 0.192 Billion | $ 0.232 Billion | $ 0.332 Billion | 4.573% |
Rest of Europe Asphalt Market Sales Revenue | $ 1.627 Billion | $ 1.876 Billion | $ 2.631 Billion | 4.313% |
Asia Pacific Asphalt Market Sales Revenue | $ 21.243 Billion | $ 25.979 Billion | $ 38.246 Billion | 4.953% |
China Asphalt Market Sales Revenue | $ 6.883 Billion | $ 8.6 Billion | $ 12.968 Billion | 5.268% |
Japan Asphalt Market Sales Revenue | $ 4.121 Billion | $ 5.013 Billion | $ 7.303 Billion | 4.814% |
India Asphalt Market Sales Revenue | $ 3.845 Billion | $ 4.937 Billion | $ 7.575 Billion | 5.497% |
South Korea Asphalt Market Sales Revenue | $ 1.657 Billion | $ 1.818 Billion | $ 2.484 Billion | 3.979% |
Australia Asphalt Market Sales Revenue | $ 0.871 Billion | $ 1.082 Billion | $ 1.62 Billion | 5.181% |
Singapore Asphalt Market Sales Revenue | $ 0.744 Billion | $ 0.898 Billion | $ 1.31 Billion | 4.827% |
South East Asia Asphalt Market Sales Revenue | $ 1.19 Billion | $ 1.433 Billion | $ 2.063 Billion | 4.658% |
Taiwan Asphalt Market Sales Revenue | $ 0.361 Billion | $ 0.42 Billion | $ 0.571 Billion | 3.92% |
South America Asphalt Market Sales Revenue | $ 3.147 Billion | $ 3.316 Billion | $ 3.696 Billion | 1.367% |
Brazil Asphalt Market Sales Revenue | $ 1.212 Billion | $ 1.29 Billion | $ 1.449 Billion | 1.466% |
Argentina Asphalt Market Sales Revenue | $ 0.607 Billion | $ 0.647 Billion | $ 0.725 Billion | 1.435% |
Colombia Asphalt Market Sales Revenue | $ 0.245 Billion | $ 0.257 Billion | $ 0.283 Billion | 1.196% |
Peru Asphalt Market Sales Revenue | $ 0.201 Billion | $ 0.208 Billion | $ 0.227 Billion | 1.114% |
Chile Asphalt Market Sales Revenue | $ 0.198 Billion | $ 0.204 Billion | $ 0.226 Billion | 1.297% |
Rest of South America Asphalt Market Sales Revenue | $ 0.683 Billion | $ 0.71 Billion | $ 0.786 Billion | 1.281% |
Middle East Asphalt Market Sales Revenue | $ 2.136 Billion | $ 2.29 Billion | $ 2.643 Billion | 1.804% |
Saudi Arabia Asphalt Market Sales Revenue | $ 0.861 Billion | $ 0.918 Billion | $ 1.051 Billion | 1.704% |
Turkey Asphalt Market Sales Revenue | $ 0.412 Billion | $ 0.447 Billion | $ 0.529 Billion | 2.13% |
UAE Asphalt Market Sales Revenue | $ 0.239 Billion | $ 0.261 Billion | $ 0.309 Billion | 2.141% |
Egypt Asphalt Market Sales Revenue | $ 0.201 Billion | $ 0.214 Billion | $ 0.246 Billion | 1.757% |
Qatar Asphalt Market Sales Revenue | $ 0.145 Billion | $ 0.154 Billion | $ 0.177 Billion | 1.738% |
Rest of Middle East Asphalt Market Sales Revenue | $ 0.278 Billion | $ 0.296 Billion | $ 0.33 Billion | 1.379% |
Africa Asphalt Market Sales Revenue | $ 5.339 Billion | $ 6.065 Billion | $ 7.803 Billion | 3.199% |
Nigeria Asphalt Market Sales Revenue | $ 0.977 Billion | $ 1.106 Billion | $ 1.417 Billion | 3.145% |
South Africa Asphalt Market Sales Revenue | $ 2.317 Billion | $ 2.645 Billion | $ 3.426 Billion | 3.289% |
Rest of Africa Asphalt Market Sales Revenue | $ 2.045 Billion | $ 2.315 Billion | $ 2.96 Billion | 3.121% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Report scope is customizable as we have a huge database of Asphalt industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Asphalt Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Market Dynamics such as Drivers, Restraints, Opportunities, Trends data
Market dynamics is the key parameter of the report study. The Chemical Industry is influenced by positive as well as negative factors, including raw material availability, regulatory changes, economic conditions, and others. Moreover, environmental and safety regulations are important in shaping the chemical industry.
In this chapter, we have included a detailed analysis of drivers, restraints, opportunities and technological roadmap for Asphalt Market. Global Asphalt market dynamics can have a significant impact on the production, pricing, and distribution of chemicals. This analysis also helps businesses operating in the chemical industry to understand the current market conditions, technological advancement along with environmental and safety regulations.
We have various report editions of Asphalt Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Chemical and materials companies are facing some challenges including stringent rules & regulation, supply chain disruption along with raw material price volatility. Thus, some of the key players are adopting new technologies to enhance their product portfolio. Now days digital technologies play an important role in this sector because it improves efficiency, operations and productivity of the plant. This study helps you to understand the competitor’s revenue generation, key strategies, recent development coupled with its S.W.O.T analysis.
Top Companies Market Share in Asphalt Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
The regional analysis offers Asphalt market size, share and a detailed analysis for each region. This quantitative as well as qualitative information is crucial for new entrants along with companies operating in Asphalt market . Asphalt market production and consumption can vary significantly from one region to another owing to factors such as, the availability of raw materials, regulatory environments, and others.
The current report Scope analyzes Asphalt Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Asphalt Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Asphalt Industry growth. Asphalt market has been segmented with the help of its Type, Application , and others. Asphalt market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Quality management is the major parameter to meet specific standards and specifications, reliability and consistency. The chemical and material industry is full of various types of chemicals and it is necessary to focus on quality management because it may affect environment & other equipment. Raw materials plays an important role in this industry. The chemical industry converts these raw materials into primary, secondary, and tertiary products. Fluctuations in raw material prices may impact the market growth in the near future. This study includes the revenue generation of each type in each region for the year 2021 to 2033. Additionally it also provides detailed supply chain analysis along with current trends in the market which are expected to propel the market growth in the coming year.
Type of Asphalt analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Asphalt Industry. Request a Free Sample PDF!
Chemical and materials are one of the most important industries for other sectors including automotive, pharmaceutical, personal care, consumer goods and others. The demand for high quality and environment friendly products is increasing in various end-use sectors. Thus, key manufacturers are focusing on technological advancement in production of high-quality chemicals. The segment analysis will help to understand which is the most attractive application/end use sector. It also provides the year on year (Y-O-Y) growth rate for each segment. Moreover, this study includes the detailed analysis of each segment to understand the key positive and negative factors which are impacting the growth of the Asphalt Market.
Some of the key Application of Asphalt are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Research Analyst at Cognitive Market Research
Enthusiastic and analytical market research professional with 2 years of hands-on experience in tracking market trends, evaluating consumer behavior, and supporting strategic decision-making. Proficient in designing surveys, conducting interviews, and synthesizing insights from both primary and secondary sources. Successfully contributed to research projects across sectors such as retail, personal care, and industrial markets. Brings a keen eye for detail, strong data interpretation skills, and a passion for uncovering what drives markets forward. Comfortable working in fast-paced environments and collaborating across departments to deliver clear, actionable findings.
Ashwini Moharir is a market research professional with over 2 years of hands-on experience in delivering strategic insights and data-driven analysis across the healthcare and food & beverage sectors. She specializes in gathering and interpreting market data to support business decisions, product development, and competitive positioning.
With a foundation in teaching and research & development, Ashwini brings a well-rounded perspective that enhances her approach to market analysis. Her ability to combine academic rigor with practical industry knowledge allows her to uncover deeper insights and provide actionable recommendation.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Asphalt Market is witnessing significant growth in the near future.
In 2023, the Coal Tar Asphalt segment accounted for noticeable share of global Asphalt Market and is projected to experience significant growth in the near future.
The Road Engineering segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies CEMEX (Mexico), Exxon Mobil (US) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Coal Tar Asphalt, Petroleum Asphalt, Natural Asphalt, Others |
Application | Road Engineering, Construction, Others |
List of Competitors | CEMEX (Mexico), BP (UK), Exxon Mobil (US), Imperial Oil (Canada), Royal Dutch Shell (Netherlands), SK Group (Korea), Aggregate Industries (US), Akzo Nobel (Netherlands), El Dorado Chemical (US), Inland Asphalt (US), Anglo American (UK), Atlas Roofing (US), China Petrochemical Corporation (Sinopec) (China) |
This chapter will help you gain GLOBAL Market Analysis of Asphalt. Further deep in this chapter, you will be able to review Global Asphalt Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Asphalt. Further deep in this chapter, you will be able to review North America Asphalt Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Asphalt. Further deep in this chapter, you will be able to review Europe Asphalt Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Asphalt. Further deep in this chapter, you will be able to review Asia Pacific Asphalt Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Asphalt. Further deep in this chapter, you will be able to review South America Asphalt Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Asphalt. Further deep in this chapter, you will be able to review Middle East Asphalt Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Asphalt. Further deep in this chapter, you will be able to review Middle East Asphalt Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Asphalt. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Asphalt market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 13 Research Methodology and Sources
Why Coal Tar Asphalt have a significant impact on Asphalt market? |
What are the key factors affecting the Coal Tar Asphalt and Petroleum Asphalt of Asphalt Market? |
What is the CAGR/Growth Rate of Road Engineering during the forecast period? |
By type, which segment accounted for largest share of the global Asphalt Market? |
Which region is expected to dominate the global Asphalt Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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