Dallas, Texas (PRWEB) September 03, 2013
Demand for asphalt in the US is forecast to increase 3.7 percent annually to 27.9 million tons in 2017. This is equivalent to 154 million barrels of primary asphalt, the vast majority of which is refined petroleum asphalt. Demand for asphalt is expected to advance from its low 2012 base, spurred by growth in highway and road construction spending and building construction expenditures, the two largest markets for asphalt. However, asphalt demand in 2017 will not reach the level seen in 2007. Rising use of recycled asphalt pavement (RAP) and increasing interest in rehabilitating and repairing older or worn surfaces -- instead of building new roads -- will serve as a check on asphalt demand advances.
Company Profiles included in this research (http://www.reportsnreports.com/reports/267853-asphalt-to-2017.html) are CertainTeed, Colas, Ergon, GAFMC, Marathon Petroleum, NuStar Asphalt, Oldcastle Materials, Owens Corning, Valero Energy and Vulcan Materials
Paving asphalt to remain dominant segment
Paving products accounted for 71 percent of asphalt consumption in 2012, and will remain the leading application for asphalt going forward, increasing 3.9 percent per annum to 20.2 million tons in 2017. The passage of the Moving Ahead for Progress in the 21st Century Act (MAP-21), which guarantees funding for highway and road construction projects through October 2014, provides an immediate boost to demand for paving materials. However, long-term gains will be checked by the efforts of government agencies to maintain existing road networks, rather than build new ones. It takes less asphalt paving product to repair roads than to construct them.
Paving products demand will also be suppressed by increasing use of in-place recycling road construction methods, such as those that use RAP. These methods are favored by state transportation agencies because they are less costly; reusing old pavement to make new road surfaces reduces demand for asphalt cement, the most frequently specified paving material. Demand for asphalt emulsions will benefit from rising use of RAP, as emulsions can be blended with old pavements to rejuvenate worn highway surfaces and repair moderately damaged highways.
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Residential market to pace asphalt roofing segment
Demand for asphalt used to make roofing and other products is forecast to rise 3.0 percent annually to 7.7 million tons in 2017. Advances will be spurred by the rebound in building construction expenditures. The residential market will see the fastest growth, as strong gains in single-family housing completions will boost demand for asphalt shingles. In the nonresidential segment, rising construction spending will support demand for low-slope roofing products, such as modified bitumen membranes, roll roofing, and mopping asphalts.
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