Recycled Asphalt Market Size, Share, Growth, Trends, and Forecast 2030

The global recycled asphalt market was estimated to be worth USD 8,205.44 million in 2022 and is expected to grow to USD 16,627.90 million by the end of 2030, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to expand at a CAGR of 9.23%. The study examines the factors driving growth, limiting it, and affecting demand in the worldwide recycled asphalt market over the course of the projection period. Additionally, it will aid in navigating and investigating the prospects that present themselves in the recycled asphalt market.

Global Recycled Asphalt Market: Overview

The term "recycled asphalt" describes the mixture of recycled aggregates and asphalt. Reclamation involves resizing and remilling asphalt pavements. After being first crushed, the asphalt layer is separated from the surface. Asphalt is therefore reground following stabilization, pulverization, and milling. In order to efficiently blend the asphalt and sublayer, the asphalt is further pulverized afterwards. The process of stabilization facilitates the mixture of tar, waterproofing ingredient, and binding agents with crushed asphalt. These are also frequently used to make roofing shingles. It reduced the use of natural resources such as water and coal.

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Global Recycled Asphalt Market: Growth Factors

The rising price of petroleum around the world is expected to cause a considerable growth in the recycled asphalt industry in the upcoming years. Reclaimed asphalt adoption also provides benefits for the most efficient use of resources, protecting the environment and the economy. The process of continuous production involves the burning of fossil fuels, which releases carbon dioxide into the atmosphere. The pollution was further exacerbated by the asphalt's recurrent manufacture. One of the best methods for reducing the amount of pollutants produced during the process is to recycle asphalt.

In addition, it costs a lot less and is far more durable than virgin asphalt. After being heated for use in construction and repair, recycled asphalt shingles are combined with virgin asphalt to improve their usability in a variety of applications, including pavement work. Aside from this, the main source of aggregate in the heated asphalt mix is the ceramic found in recycled asphalt shingles. Because of this, it is probably going to increase dramatically when mind aggregates become necessary. Light-colored and low-heat-absorbing recycled asphalt pavements are two of their main advantages. However, virgin asphalt pavements retain a great deal of solar heat, which keeps the payment warm long after the sun sets.

The recently constructed urban plants emphasize the maximum 60% reclaimed asphalt ratio. However, a number of businesses are now developing and testing 100% asphalt recycling plants. It is probable that the building industry will increase the need for the most efficient use of sustainable and natural resources. As a result, industry leaders are launching novel ideas for asphalt mixes without strengthening their existing production capacities.

Segmenting the Global Market for Recycled Asphalt

Types, applications, and geographical areas can be used to divide up the worldwide market for recycled asphalt.

The market can be divided into hot and cold recycling segments based on type.

The market can be divided into several application categories, including patch material, road aggregate for unpaved roads, energy recovery, new asphalt shingles, interlocking bricks, temporary driveways, and hot mix asphalt. Due to its widespread use in potholes and resurfacing, the patch material category holds the greatest proportion of the worldwide recycled asphalt market. Furthermore, because recycled asphalt is increasingly used in unpaved roads and has a higher percentage of aggregate than virgin material, the demand for road aggregate for these sectors of unpaved roads is anticipated to expand at a significant rate of compound annual growth.

Global Recycled Asphalt Market: Regional analysis

North America holds the greatest market share in the worldwide recycled asphalt market because of the region's rapidly expanding building industry. Furthermore, the continued development of technology and the increasing public knowledge of the benefits provided by recycled asphalt will support the expansion of the local market.

Due to the increasing use of recycled asphalt in base development, resurfacing, and reconstructing projects, Asia Pacific is also anticipated to have considerable growth during the forecast period.

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Global Recycled Asphalt Market: Competitive Players

Some of the significant players in the global recycled asphalt market include:

Bodean Company
Lone Star Paving
Cherry Companies
Shell Bitumen
Corporation.
Sinopec
Owens Corning
Oldcastle Materials
GAF Materials
CertainTeed.

Global Recycled Asphalt Market is segmented as follows:

By Type

hot
cold recycling

BY Application

energy recovery
new asphalt shingles
interlocking bricks
road aggregate for unpaved roadways
temporary driveways
hot mix asphalt
patch material

Global Recycled Asphalt Market: Regional Segment Analysis

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa