South Africa Asphalt Market Share, Size, Growth, Trends and Forecast Till 2026: IMARC Group
According to the latest report by IMARC Group, titled ” South Africa Asphalt Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the market exhibited moderate growth during 2015-2020. Asphalt, also called bitumen, represents a sticky, black, and highly viscous semi-solid or liquid hydrocarbon material that is extracted from petroleum distillation residue. Some common varieties of bitumen include penetration grade, cutback, modified, emulsions, etc. Asphalt is utilized as a binding agent in constructing roads, parking areas, pavements, etc. It assists in minimizing fuel consumption, improving vehicular performance, enhancing road safety, etc., by ensuring a better grip to the wheels. Asphalt is also widely used as an adhesive, sealant, and waterproofing agent across the residential, commercial, and industrial sectors.
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The rising number of construction activities and elevating urbanization levels are among the primary factors driving the South Africa asphalt market. In line with this, the shifting preferences towards bitumen-based materials, owing to their higher durability, crack-resistance, improved binding properties, etc., are further catalyzing the market growth. Moreover, the increasing utilization of asphalt in the maintenance of highways, runways, pavements, etc., is acting as another significant growth-inducing factor. Besides this, the emerging trends of modern housing architecture and remodeling of existing infrastructures are propelling the demand for asphalt for sealing carpet tile backing, pipe coatings, paints, etc. Additionally, the rising popularity of numerous innovative product variants, such as emulsified asphalt and polymer modified asphalt, is anticipated to fuel the South Africa asphalt market in the coming years. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Caltex Asphalt
- Engen Refineries
- National Asphalt Limited
- Natref Refinery
- Mosal Bay GTF Refinery
- Sasol Limited
Key Highlights of the Market Segmentation:
Breakup by Product:
Breakup by Application:
Breakup by Type:
- Penetration Grade
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Published Mon, 21 Mar 2022 06:42:42 -0500