The global asphalt market is nearly $100 billion

The core data of this paper are: global asphalt production capacity, global asphalt output, global asphalt consumption, global asphalt regional competition pattern.

I.The global asphalt production capacity has increased by more than 30% in 10 years, and the output has increased by more than 10%

In 2010, the global asphalt production  capacity was 164 million tons and the output was 119 million tons. In 2020, the global asphalt production capacity was 214 million tons and the output was 133 million tons. The production capacity increased by 30.25% and the output increased by 11.76% in the decade.

In 2021, the global asphalt industry capacity was 219 million tons, up 2.5% from the previous year; Output was 139 million tons, up 4.7 percent year on year.

II. Global bitumen consumption of 149 million tons is slightly higher than bitumen production

In recent years, the growth of population density in urban centers drives the investment in public transportation, infrastructure and other industries, while the global infrastructure investment in roads, airports and ports drives the demand for asphalt products, among which the most significant increase in demand for asphalt is in North America and Asia. For example, rapid land acquisition, recovery of stalled projects and timely settlement of disputes in India. Ensuring last-mile connectivity; Vietnam is expected to increase spending on airport infrastructure from 0.02% of total GDP to 0.04% in the next five years. According to ADI, the global consumption of bitumen in 2021 was 149 million tons, up 3.47% from the previous year.

III. Regional distribution of global asphalt output: Northeast Asia and North America are the main production areas of asphalt

From the perspective of asphalt production distribution, the main asphalt production area in the world is Northeast Asia and North America, among which Northeast Asia is the world’s largest asphalt production area, asphalt output accounts for 28% of the global total. Next came North America, where asphalt production accounted for 22%. The Middle East ranked third, accounting for 11% of bitumen production.

IV. Regional distribution of global asphalt consumption: Northeast Asia and North America are the main areas of asphalt consumption

From the perspective of asphalt consumption distribution, the main asphalt consumption area in the world is still Northeast Asia and North America, among which Northeast Asia asphalt consumption accounts for 26% of the global total consumption. This is followed by North America, where asphalt consumption accounts for 23%. Western Europe and the Middle East ranked third, each accounting for 11% of asphalt consumption.

V.The global asphalt industry market is close to $97 billion

Global infrastructure investment in roads, airports and ports is driving demand for asphalt. According to FirstResearch, the global asphalt industry market was $96.9 billion in 2021.