According to the latest report by IMARC Group, titled ” South Africa Asphalt Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the South Africa asphalt market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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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.
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.
South Africa Asphalt Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the south africa asphalt market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape with Key Players:
- Caltex Asphalt
- Engen Refineries
- National Asphalt Limited
- Natref Refinery
- Mosal Bay GTF Refinery
- Sasol Limited
Key Market Segmentation:
The report has segmented the south africa asphalt market on the basis of product, application and type.
Breakup by Product:
Breakup by Application:
Breakup by Type:
- Penetration Grade
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/south-africa-asphalt-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- 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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