According to the report, the global recycled asphalt industry was estimated at $7.1 billion in 2019, and is anticipated to hit $10.4 billion by 2027, registering a CAGR of 5.9% from 2020 to 2027.Drivers, restraints, and opportunities-Several environmental and economic benefits from using recycled asphalt drive the growth of the global recycled asphalt market.
However, development in custom solutions and technologies is expected to create lucrative opportunities in the industry.Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/9820Covid-19 scenario-The outbreak of the pandemic led to sharp decline in the infrastructural and construction activities across the world, which in turn set off an overall deceased demand for recycled asphalt from several industry verticals.
This factor impacted the global market negatively.However, with several government bodies coming along with relaxations on the existing regulations, the global recycled asphalt market is expected to revive its position soon.The hot recycling segment to dominate by 2027-Based on type, the hot recycling segment accounted for more than three-fifths of the global recycled asphalt market share in 2019, and is projected to lead the trail by the end of 2027.
Simultaneously, the road aggregate for unpaved roadways segment would grow at the fastest CAGR of 6.4% from 2020 to 2027.Get Detailed COVID-19 Impact Analysis on the Recycled Asphalt Market @ https://www.alliedmarketresearch.com/request-for-customization/9820?reqfor=covidNorth America to rule the roost-Based on region, North America generated the major share in 2019, holding more than two-fifths of the global recycled asphalt market, owing to rising application of recycled asphalt in reconstruction, resurfacing, and base development activities in the continent.
The region across Asia-Pacific, on the other hand, would exhibit the fastest CAGR of 6.4% throughout the forecast period.Key players in the industry-Tokuyama CorporationEvonik Industries AGMerck Millipore LimitedNippon Chemical Industrial Co. Ltd.PQ Group Holdings Inc.Occidental Petroleum CorporationCIECH S.A.Sinchem Silica Gel Co. Ltd.Shijiazhuang Shuanglian Chemical Industry Co. Ltd.Kiran Global Chem Limited.Interested in Procuring This Report?
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