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Asphalt Plant Market to 2027 – Global Analysis and Forecasts by Fayat SAS, JSC Kredmash, NFLG, Nikko

Asphalt Plant Market to 2027 - Global Analysis and Forecast by Type, Product, Application and Geography

PUNE, INDIA, February 3, 2020 /EINPresswire.com/ -- The global asphalt plant market was valued US$ 1.93 Bn in 2018 and is expected to reach US$ 2.47 Bn by 2027 with a CAGR growth rate of 2.8% in the forecast period from 2019 to 2027.

Asphalt is a sticky black or brown, highly viscous liquid or semi-solid form of petroleum and is a residue produced by crude oil refineries. Asphalt is primarily used for paving roads and has applications in transportation (roads, railway beds or airport runways, taxiways, etc.), recreation (playgrounds, bicycle paths, running tracks, and tennis court), agriculture (barn floors and greenhouse floor), industrial (ports, landfill caps, worksites), and building construction (floorings), among others. The construction activities across the world are increasing owing to growing urbanization and infrastructure projects in developing and developed economies. The road and highway construction activities across the world are increasing, and the government bodies are focusing on the speed and quality of the roads built, which is supporting the growth of the asphalt plant market. Currently, asphalt plant manufacturers are focusing on offering advanced asphalt plants that are easy to install and offer greater flexibility.

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The List of Companies - Asphalt Plant Market

1. Ammann Group Holding AG (Marini Marini-Ermont SAE)
2. Astec Industries, INC.
3. Benninghoven GmbH & CO.KG
4. Capious Roadtech Pvt. Ltd.
5. Fayat SAS
6. JSC Kredmash
7. NFLG INC.
8. Nikko Co. Ltd
9. Sany Heavy Industry Co., Ltd.
10. Speedcrafts Limited

As asphalt recycling is gaining popularity, asphalt manufacturers across the world are focusing on offering asphalt mixing equipment with recycling capabilities. Also, portable asphalt plants are gaining traction, and the need for ease of transport and faster commissioning has led to the development of compact plants that fit in shipping containers and can be trucked to a site. The modular design ensures that the plants meet the client’s requirements. Asphalt plant manufacturers are focusing on offering tailored solutions and enable the customers to add containers, materials storage or feed bins, conveyors, and RAP feeds as per the requirements. The asphalt plant market is growing significantly in emerging economies of APAC and MEA owing to the growing number of construction activities and increasing urbanization However, increasing pollution and growing awareness regarding the emission from the asphalt plant are the major factors that might hinder the growth of the asphalt plant market.

Asphalt Plant Market - Strategic Insights
The market players present in the asphalt plant market are mainly focusing on product enhancements by implementing advanced technologies. By signing partnerships, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company to maintain its brand name across the European region. Few of the recent developments are listed below;

2019: Lintec & Linnhoff Holdings Pte Ltd’s subsidiaries, Lintec & Linnhoff Asphalt Pte. Ltd. and Lintec & Linnhoff Concrete Pte. Ltd. were awarded Enterprise 50 (E50) Award. The award recognizes privately-owned businesses in Singapore for their contributions to the economy in Singapore and overseas.

2019: Kredmash announced the launch of an asphalt concrete plant in Moldova. The new asphalt concrete plant KDM20667 offers a capacity of 160 tons per hour is manufactured in accordance with EU standards.

2019: MARINI launched its new range of super-mobile XPRESS 1500 and XPRESS 2000 plants. The products would produce 120 and 160 tph respectively.

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Asphalt Plant Market - Market Insights

Versatile benefits offered by asphalt is driving the growth of the asphalt plant market
Asphalt mixing plants are widely used in road and highway construction, and most of the roads around the globe are paved with asphalt. Asphalt is prevalent for road construction as it offers high durability and excellent performance in trafficked conditions. The asphalt used for highway construction is a mixture of bitumen, aggregate, and filler, and the roads can be paved using a hot or cold mix asphalt. The asphalt mixing plant is a crucial road construction equipment that is used for manufacturing asphalt that is used for road construction. Several governments emphasize the speed of construction and the quality of roads that are to be constructed. For instance, MoRTH, NHAI, and other departments of India emphasize that the quality of roads should be in line with the global standards. Hence, such significant growth is expected to offer ample growth opportunities for the asphalt plant market players during the forecast period of 2019 to 2027.

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