Global Bitumen And Asphalt Market
In value terms, bitumen and asphalt production rose significantly to $ in estimated in export price. Over the period under review, production saw a strong increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by %. Over the period under review, global production hit record highs at $ in 2017; however, from 2018 to , production failed to regain momentum.
China ( tons) constituted the country with the largest volume of bitumen and asphalt production, comprising approx. % of total volume. Moreover, bitumen and asphalt production in China exceeded the figures recorded by the second-largest producer, India ( tons), twofold. The United States ( tons) ranked third in terms of total production with a % share.
From 2007 to , the average annual rate of growth in terms of volume in China stood at +%. The remaining producing countries recorded the following average annual rates of production growth: India (+% per year) and the United States (+% per year).
The global bitumen and asphalt market size reached $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a resilient expansion. Global consumption peaked at $ in 2017; however, from 2018 to , consumption failed to regain momentum.
In China, bitumen and asphalt consumption increased at an average annual rate of +% over the period from 2007-. In the other countries, the average annual rates were as follows: India (+% per year) and the United States (+% per year).
In value terms, China ($) led the market, alone. The second position in the ranking was taken by India ($). It was followed by Japan.
In China, the bitumen and asphalt market increased at an average annual rate of +% over the period from 2007-. The remaining consuming countries recorded the following average annual rates of market growth: India (+% per year) and Japan (+% per year).
The countries with the highest levels of bitumen and asphalt per capita consumption in were Italy ( kg per person), the UK ( kg per person) and France ( kg per person).
From 2007 to , the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the UK (with a CAGR of +%), while consumption for the other global leaders experienced more modest paces of growth.