Asphalt Market Segmentation and Growth Forecasts for 2032
The asphalt market plays a crucial role in the construction and infrastructure sectors globally, with its primary use in road construction, as well as applications in waterproofing and roofing. The market is set to see steady growth from 2025 to 2032, driven by increasing infrastructure projects, rising urbanization, and the growing need for road maintenance. Asphalt is an essential material in building durable and cost-effective roadways and highways, making its demand integral to global infrastructure development. Asphalt is widely used in the construction of roads, highways, parking lots, and even airports, due to its high durability, flexibility, and cost-effectiveness. The global asphalt market is expected to grow significantly over the next decade, with substantial growth rates projected in both developed and emerging economies. Asphalt Market size was valued at USD 4.2 Billion in 2024 to USD 5.96 Billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032...