Nasir Jones

Nasir Jones

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The global asphalt market grew at a CAGR of around 4% during 2014-2019.Looking forward, IMARC Group expects the market to exhibit moderate growth by 2025.Also known as bitumen, asphalt is a brown or black petroleum-like material with a consistency ranging from glassy solid to viscous liquid.It is obtained from petroleum distillation residue and manufactured at around 150 to 180 degrees Celsius.It helps minimize fuel consumption and carbon emissions from vehicles.Moreover, as it is highly durable, crack-resistant and assists in binding crushed stone and aggregates into a firm, concrete surface, it finds extensive application in the construction of roads, parking areas and driveways across the globe.The asphalt market is experiencing growth on account of the escalating demand for asphalt shingles that are utilized for waterproofing roofs.
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