Recycled Asphalt Market – Global Industrial Analysis and Forecast (2022-2029)

Recycled Asphalt Market is expected to reach US$ 11.46 Bn. by 2029, at a CAGR of 5.95% during the forecast period.

Recycled Asphalt Market Introduction

Recycled asphalt is a mixture of asphalt and aggregates that has been recycled. Asphalt pavements are milled and resized as part of the recycling process. The current asphalt layer is crushed and pushed away from the surface. After milling, pulverization, and stabilization, the asphalt is milled again. The asphalt is pulverized to mix the asphalt layer with the sub-layers. Stabilization entails combining crushed asphalt with tar, binding agents/materials, and waterproofing materials. They're also utilized to make roofing shingles out of asphalt shingles. It also cuts down on the use of natural resources like water and coal. Recycled Asphalt Market To know about the Research Methodology :- Request Free Sample Report

Recycled Asphalt Market Dynamics

The production of fresh asphalt involves the use of fossil fuels, which results in high CO2 emissions. As a result, repetitive production of asphalt increases pollution while also affecting natural resources. Because asphalt recycling does not need the burning of fossil fuels, it conserves natural resources while also reducing air pollution. As a result, asphalt recycling is becoming one of the most effective ways to limit toxin generation around the world. Furthermore, recycled asphalt has equal durability to virgin asphalt at a far cheaper cost. Recycled asphalt shingles (RAS) offer higher usefulness in pavement applications, where they are heated and combined with virgin asphalt for road building and repair activities. Furthermore, the RAS ceramics serve as a key supply of aggregate in hot asphalt mixes, eliminating the need for mined aggregates. As a result, including RAS in the new hot-asphalt mix improves the qualities of the pavement, influencing its market expansion positively. The urban heat island effect occurs when road pavements made of fresh asphalt absorb heat from the sun and transfer it to the ground, heating the pavement area long after sunset. The regenerated asphalt pavements, on the other hand, are light-colored, making them less susceptible to heat absorption. As a result, recycled asphalt pavement contributes less to the urban heat island effect, increasing its growth potential throughout the anticipated period. Several businesses are working to develop customized solutions and current plant technologies in order to provide high-quality asphalt through recycling procedures. These current plant technologies are projected to provide benefits like lower storage costs and lower CO2 emissions. Furthermore, the manufacturing process at these factories is expected to reduce overall production and transportation costs. At the moment, the newly designed plants have a maximum reclaimed asphalt ratio of 60%. The companies are, however, in the process of developing and testing a 100% asphalt recycling plant. The demand for environmentally sustainable and optimal use of natural resources is steadily increasing in the worldwide building industry.

Recycled Asphalt Market Segment Analysis

The Recycled asphalt market is segmented into two types: hot recycling and cold recycling. In 2021, the hot recycling segment commanded a market share of xx%. This was due to advantages such as the ability to execute repaving as a single or multiple pass operation on-site. Because the job is done on-site, logistics costs are reduced, and the market is expected to grow. The hot recycling segment is expected to grow at a CAGR of 5.9% during the forecasted period. Cold Recycling segment is also expected to grow significantly at a CAGR of xx% during the forecast period. Due to the economic benefits of minimizing the use of production energy and natural resources, cold recycling is expected to be the preferable recycling method. Maintenance expenses can be lowered by 30% to 50% compared to traditional milling and filling methods when done at the correct time, that is, before the pavement structure has fully degraded. Furthermore, the entire asphalt layer can be reused, reducing the need for virgin materials, transportation, construction time, and landfilling. Patch material, hot-mix asphalt, temporary driveways and roads, road aggregate for unpaved highways, interlocking bricks, new asphalt shingles, and energy recovery are all included in the application segment. Because recycled asphalt is widely used in re-surfacing and potholes, the patch material segment dominated the market position in 2021. The road aggregate for unpaved roadways segment, On the other hand is expected to grow at a faster CAGR of 6.3% during the forecast period, owing to the increasing usage of recycled asphalt in unpaved roads, which has a greater fraction of aggregates and hence reduces the need of virgin material.

Recycled Asphalt Market Regional Insights

Since the departments of transportation in various states in the United States, including Minnesota, Missouri, North Carolina, Ohio, Oregon, Texas, and Georgia, have permitted the use of recycled asphalt in paving mixes, North America dominates the global usage of recycled asphalt. Moreover, over the forecast period, numerous other states are projected to approve the use of recycled asphalt for road pavement applications. Asia Pacific recycled asphalt market is also expected to grow significantly, owing to expanding infrastructure development in emerging nations and rising demand for environmentally friendly construction materials. In addition, the high ratio of virgin asphalt combined with the country's regularly fluctuating oil prices is spurring the rise of recycled asphalt commercialization. Because of cheaper raw material prices, as well as cheaper production and shipping costs, the use of recycled asphalt benefits all industry participants. Furthermore, all industry participants, including asphalt roofing contractors, road owners, asphalt producers, and mixing plant manufacturers, are working together to develop innovative technologies. During the forecast period, the Asia-Pacific region is expected to have the highest CAGR of 6.3 %.

Recycled Asphalt Market Scope: Inquire before buying

Global Recycled Asphalt Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US$ 7.22 Bn.
Forecast Period 2022 to 2029 CAGR: 5.95% Market Size in 2029: US$ 11.46 Bn.
Segments Covered: by Type • Hot Recycling • Cold Recycling
by Application • Hot-mix Asphalt • Temporary Driveways & Roads • Road Aggregate for Unpaved Roadways • Interlocking Bricks • New Asphalt Shingles • Energy Recovery

Recycled Asphalt Market, by Region

• North America • Europe • South America • MEA • Asia Pacific

Recycled Asphalt Market Key Players

Bodean Company • CertainTeed • Cherry Companies • Downer Group, • GAF Materials • Lone Star Paving • Owens Corning • Pavement Recycling System, Inc. • The Kraemer Company, LLC • Wirtgen Group • Oldcastle Materials • Sinopec • Shell Bitumen, Corporation. • Tokuyama Corporation • Evonik Industries AG • Merck Millipore Limited • Nippon Chemical Industrial Co. Ltd. • PQ Group Holdings Inc. • Occidental Petroleum Corporation • CIECH S.A. Frequently Asked Questions: 1. Which region has the largest share in Global Recycled Asphalt Market? Ans: Asia Pacific region holds the highest share in 2021. 2. What is the growth rate of Global Recycled Asphalt Market? Ans: The Global Recycled Asphalt Market is growing at a CAGR of 5.95% during forecasting period 2022-2029. 3. What is scope of the Global Recycled Asphalt market report? Ans: Global Recycled Asphalt Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Recycled Asphalt market? Ans: The important key players in the Global Recycled Asphalt Market are – Bodean Company, CertainTeed, Cherry Companies, Downer Group,, GAF Materials, Lone Star Paving, Owens Corning, Pavement Recycling System, Inc., The Kraemer Company, LLC, Wirtgen Group, Oldcastle Materials, Sinopec, Shell Bitumen, Corporation., Tokuyama Corporation, Evonik Industries AG, Merck Millipore Limited, Nippon Chemical Industrial Co. Ltd., PQ Group Holdings Inc., Occidental Petroleum Corporation, and CIECH S.A. 5. What is the study period of this market? Ans: The Global Recycled Asphalt Market is studied from 2021 to 2029.
1.Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Recycled Asphalt Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Recycled Asphalt Market 3.4. Geographical Snapshot of the Recycled Asphalt Market, By Manufacturer share 4. Global Recycled Asphalt Market Overview, 2021-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Recycled Asphalt Market 5. Supply Side and Demand Side Indicators 6. Global Recycled Asphalt Market Analysis and Forecast, 2021-2029 6.1. Global Recycled Asphalt Market Size & Y-o-Y Growth Analysis. 7. Global Recycled Asphalt Market Analysis and Forecasts, 2021-2029 7.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 7.1.1. Hot Recycling 7.1.2. Cold Recycling 7.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 7.2.1. Patch Material 7.2.2. Hot-mix Asphalt 7.2.3. Temporary Driveways & Roads 7.2.4. Road Aggregate for Unpaved Roadways 7.2.5. Interlocking Bricks 7.2.6. New Asphalt Shingles 7.2.7. Energy Recovery 8. Global Recycled Asphalt Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2021-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Recycled Asphalt Market Analysis and Forecasts, 2021-2029 9.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 9.1.1. Hot Recycling 9.1.2. Cold Recycling 9.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 9.2.1. Patch Material 9.2.2. Hot-mix Asphalt 9.2.3. Temporary Driveways & Roads 9.2.4. Road Aggregate for Unpaved Roadways 9.2.5. Interlocking Bricks 9.2.6. New Asphalt Shingles 9.2.7. Energy Recovery 10. North America Recycled Asphalt Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Recycled Asphalt Market Analysis and Forecasts, 2021-2029 11.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 11.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 12. Canada Recycled Asphalt Market Analysis and Forecasts, 2021-2029 12.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 12.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 13. Mexico Recycled Asphalt Market Analysis and Forecasts, 2021-2029 13.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 13.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 14. Europe Recycled Asphalt Market Analysis and Forecasts, 2021-2029 14.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 14.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 15. Europe Recycled Asphalt Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Recycled Asphalt Market Analysis and Forecasts, 2021-2029 16.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 16.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 17. France Recycled Asphalt Market Analysis and Forecasts, 2021-2029 17.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 17.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 18. Germany Recycled Asphalt Market Analysis and Forecasts, 2021-2029 18.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 18.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 19. Italy Recycled Asphalt Market Analysis and Forecasts, 2021-2029 19.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 19.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 20. Spain Recycled Asphalt Market Analysis and Forecasts, 2021-2029 20.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 20.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 21. Sweden Recycled Asphalt Market Analysis and Forecasts, 2021-2029 21.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 21.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 22. CIS Countries Recycled Asphalt Market Analysis and Forecasts, 2021-2029 22.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 22.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 23. Rest of Europe Recycled Asphalt Market Analysis and Forecasts, 2021-2029 23.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 23.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 24. Asia Pacific Recycled Asphalt Market Analysis and Forecasts, 2021-2029 24.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 24.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 25. Asia Pacific Recycled Asphalt Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Recycled Asphalt Market Analysis and Forecasts, 2021-2029 26.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 26.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 27. India Recycled Asphalt Market Analysis and Forecasts, 2021-2029 27.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 27.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 28. Japan Recycled Asphalt Market Analysis and Forecasts, 2021-2029 28.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 28.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 29. South Korea Recycled Asphalt Market Analysis and Forecasts, 2021-2029 29.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 29.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 30. Australia Recycled Asphalt Market Analysis and Forecasts, 2021-2029 30.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 30.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 31. ASEAN Recycled Asphalt Market Analysis and Forecasts, 2021-2029 31.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 31.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 32. Rest of Asia Pacific Recycled Asphalt Market Analysis and Forecasts, 2021-2029 32.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 32.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 33. Middle East Africa Recycled Asphalt Market Analysis and Forecasts, 2021-2029 33.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 33.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 34. Middle East Africa Recycled Asphalt Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2021-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Recycled Asphalt Market Analysis and Forecasts, 2021-2029 35.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 35.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 36. GCC Countries Recycled Asphalt Market Analysis and Forecasts, 2021-2029 36.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 36.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 37. Egypt Recycled Asphalt Market Analysis and Forecasts, 2021-2029 37.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 37.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 38. Nigeria Recycled Asphalt Market Analysis and Forecasts, 2021-2029 38.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 38.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 39. Rest of ME&A Recycled Asphalt Market Analysis and Forecasts, 2021-2029 39.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 39.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 40. South America Recycled Asphalt Market Analysis and Forecasts, 2021-2029 40.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 40.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 41. South America Recycled Asphalt Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2021-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Recycled Asphalt Market Analysis and Forecasts, 2021-2029 42.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 42.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 43. Argentina Recycled Asphalt Market Analysis and Forecasts, 2021-2029 43.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 43.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 44. Rest of South America Recycled Asphalt Market Analysis and Forecasts, 2021-2029 44.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 44.2. Market Size (Value) Estimates & Forecast By Application, 2021-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Recycled Asphalt Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Bodean Company 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. CertainTeed 45.3.3. Cherry Companies 45.3.4. Downer Group, 45.3.5. GAF Materials 45.3.6. Lone Star Paving 45.3.7. Owens Corning 45.3.8. Pavement Recycling System, Inc. 45.3.9. The Kraemer Company, LLC 45.3.10. Wirtgen Group 45.3.11. Oldcastle Materials 45.3.12. Sinopec 45.3.13. Shell Bitumen, Corporation. 45.3.14. Tokuyama Corporation 45.3.15. Evonik Industries AG 45.3.16. Merck Millipore Limited 45.3.17. Nippon Chemical Industrial Co. Ltd. 45.3.18. PQ Group Holdings Inc. 45.3.19. Occidental Petroleum Corporation 45.3.20. CIECH S.A. 45.3.21. Other Key Players 46. Primary Key Insight

About This Report

Report ID 103882
Category Engineering Equipment
Published Date June 2022
Updated Date
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