Get the latest insights on price movement and trends analysis of Asphalt in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Graph and download economic data for Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Primary Products (PCU324121324121P) from Jun 1981 to Jun 2025 about asphalt, primary, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

United States - Producer Price Index by Industry: Asphalt Paving and Roofing Materials Manufacturing was 362.04200 Index Dec 1984=100 in June of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Asphalt Paving and Roofing Materials Manufacturing reached a record high of 385.43300 in January of 2025 and a record low of 91.00000 in February of 1987. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Asphalt Paving and Roofing Materials Manufacturing - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for Producer Price Index by Industry: Asphalt Paving and Roofing Materials Manufacturing (PCU3241232412) from Dec 1984 to Jun 2025 about asphalt, materials, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

Bitumen fell to 3,654 CNY/T on July 31, 2025, down 0.44% from the previous day. Over the past month, Bitumen's price has risen 2.24%, and is up 1.22% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Bitumen - values, historical data, forecasts and news - updated on August of 2025.

United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Asphalt and Tar Paving Mixture (Excluding Liquid), Including Bitumen or Asphalt Concrete, Asphalt Paving Cement was 257.98700 Index Dec 2004=100 in June of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Asphalt and Tar Paving Mixture (Excluding Liquid), Including Bitumen or Asphalt Concrete, Asphalt Paving Cement reached a record high of 326.12200 in February of 2025 and a record low of 100.00000 in December of 2004. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Asphalt and Tar Paving Mixture (Excluding Liquid), Including Bitumen or Asphalt Concrete, Asphalt Paving Cement - last updated from the United States Federal Reserve on July of 2025.

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Asphalt Market Size 2025-2029

The asphalt market size is forecast to increase by USD 17.38 billion, at a CAGR of 5.1% between 2024 and 2029.

The market is driven by the significant investment in infrastructure development and road construction projects, with a focus on sustainable production methods. This trend is evident as governments and private entities prioritize the improvement of transportation networks, leading to increased demand for asphalt. However, the market faces challenges due to the volatility in crude oil prices, which is a key raw material in asphalt production.
This price instability can significantly impact the profitability of asphalt manufacturers and road construction companies, necessitating effective supply chain management and price risk mitigation strategies. To capitalize on the growth opportunities and navigate these challenges, market participants must stay informed of price trends and adopt sustainable production practices to maintain competitiveness.

What will be the Size of the Asphalt Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2020-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, driven by advancements in technology and shifting industry trends. Asphalt paving remains a cornerstone of road construction, with dense-graded asphalt and asphalt concrete being the preferred choices for their durability and strength. Hot mix asphalt, a key component of these materials, undergoes constant refinement through research and development, leading to improvements in performance and sustainability. Environmental considerations are increasingly influencing market dynamics. Waste management and the reduction of carbon footprint are key concerns, with recycled asphalt pavement gaining popularity due to its environmental benefits. The use of warm mix asphalt and porous asphalt also contributes to more sustainable paving solutions.

Market players focus on quality control, ensuring traffic loading, texture depth, and surface friction meet required standards. Thermal cracking and fatigue cracking remain challenges, leading to research into polymer-modified bitumen and other advanced binders. HVEM stability, Marshall stability, and skid resistance are crucial factors in pavement design. Asphalt plants employ innovative technologies to optimize production and minimize void content and air voids. Pavement management systems help monitor and maintain road infrastructure, addressing issues such as reflection cracking, wheel tracking, and moisture damage. Market activities unfold continuously, with ongoing research and development shaping the future of asphalt applications. From paving to waste management, the industry remains dynamic and forward-thinking.

How is this Asphalt Industry segmented?

The asphalt industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2020-2023 for the following segments.

Product Type

  Hot mix asphalt
  Warm mix asphalt
  Cold mix asphalt
  Others


End-user

  Non-residential construction
  Residential construction
  Others


Application

  Paving
  Roofing
  Waterproofing


Geography

  North America

    US
    Mexico


  Europe

    Germany
    Russia


  APAC

    China
    India
    Indonesia
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Product Type Insights

The hot mix asphalt segment is estimated to witness significant growth during the forecast period.

Hot mix asphalt (HMA), a composite material made up of asphalt cement, mineral aggregate, and water, is extensively used in road construction projects due to its quick hardening properties and superior traction performance under elevated temperatures. HMA's versatility comes from its ability to be customized to specific project needs through variations in mix design and aggregate composition. The market offers two primary HMA design formats: Standard HMA, with a maximum aggregate size of 9 millimeters and a water-to-cementitious material ratio ranging from 0.4 to 0.6 percent, and Superpave HMA, which provides enhanced performance under varying traffic loading conditions and climate extremes.

Asphalt plants manufacture HMA using performance-graded asphalt, which ensures consistent quality through controlled production processes. Performance grading categorizes asphalt binder based on its temperature performance, enabling the selection of the optimal binder for specific climatic conditions. This approach improves pavement durability and reduces the risk of premature failure due to thermal or fatigue cracking. Recycled asphalt pavement (RAP) is increasingly used as a cost-effective alternative to virgin aggregates in HMA producti

The Malaysian natural bitumen and asphalt market declined to $584M in 2024, which is down by -13.5% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2024: its value increased at an average annual rate of +5.0% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -5.6% against 2019 indices.

The global asphalt market is expected to grow at a CAGR of 5.30% during the period 2025-2034. The market is expected to be driven by the use of asphalt in expressways all over the world owing to its advantages, including quick construction, easy maintenance, driving comfort and safety, low noise levels, and others.

The global natural bitumen and asphalt market rose sharply to $277.9B in 2024, increasing by 8.3% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2024; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $286.2B. From 2015 to 2024, the growth of the global market remained at a somewhat lower figure.

Graph and download economic data for Producer Price Index by Commodity: Fuels and Related Products and Power: Asphalt (WPU05810212) from Jun 1985 to Jun 2025 about asphalt, fuels, commodities, PPI, inflation, price index, indexes, price, and USA.

The global asphalt market size reached USD 259.1 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 397.2 Million by 2033, exhibiting a growth rate (CAGR) of 4.9% during 2025-2033. The Infrastructural development, rapid urbanization, increasing road construction, fluctuating crude oil prices, technological advancements, and governmental initiatives bolster the market growth.

IMARC Group provides an analysis of the key trends in each segment of the global asphalt market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on product, asphalt type, application and end-use sector.

Graph and download economic data for Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Emulsified Asphalt, Including Liquid Additives (PCU3241213241210111) from Dec 2004 to Jun 2025 about asphalt, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

U.S. ASPHALT MARKET valued USD 32.6 Million in 2024 and is projected to surpass USD 52.9 Million through 2032

In 2024, the EU natural bitumen and asphalt market increased by 7% to $4.6B for the first time since 2021, thus ending a two-year declining trend. The total consumption indicated measured growth from 2012 to 2024: its value increased at an average annual rate of +3.6% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -10.8% against 2021 indices.

United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Miscellaneous Receipts was 226.49300 Index Dec 2004=100 in June of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Miscellaneous Receipts reached a record high of 239.23600 in April of 2025 and a record low of 100.00000 in December of 2004. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Asphalt Paving Mixture and Block Manufacturing: Miscellaneous Receipts - last updated from the United States Federal Reserve on July of 2025.

The Report Covers the Global Asphalt Pavers Market. It is Segmented by Type (Track Pavers, Wheel Pavers, and Screeds), Paving Range (less Than 1. 5 M, 1. 5 M To 2. 3 M, 2. 4 M To 2. 55 M, and Above 2. 55m), and Geography (North America, Europe, Asia-Pacific, and the Rest of World). The Report Offers Market Size Forecasts in Value (USD) for the Above-Mentioned Segments.

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Modified Bitumen Market Size 2025-2029

The modified bitumen market size is forecast to increase by USD 3.13 billion, at a CAGR of 4.5% between 2024 and 2029.

The market is experiencing significant growth due to the rise in road construction projects worldwide. This trend is expected to continue as infrastructure development remains a priority for numerous governments and economies. Another key driver is the increasing utilization of reclaimed modified bitumen products, which not only reduces the environmental impact but also offers cost savings for manufacturers and consumers. However, the market faces challenges, most notably the volatility in raw material prices. This instability can negatively affect the profitability of manufacturers and disrupt supply chains.
Companies in the market must closely monitor raw material costs and explore alternative sourcing strategies to mitigate this risk and maintain operational efficiency. Natural rubber modifiers are being incorporated into modified bitumen to enhance its elasticity and flexibility. By staying informed of these market dynamics, businesses can effectively capitalize on opportunities and navigate challenges, ensuring long-term success in the industry.

What will be the Size of the Modified Bitumen Market during the forecast period?

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The market is experiencing significant activity and trends, driven by the increasing emphasis on sustainability and energy efficiency in the construction industry. Green building standards, such as Energy Star and LEED certification, are increasingly influencing roofing choices. Roof coatings with reflective properties and green roof systems are gaining popularity for their energy savings and carbon footprint reduction. Hail resistance and impact resistance are crucial factors in roofing safety, especially in regions prone to severe weather. OSHA regulations prioritize workplace safety, leading to the adoption of synthetic underlayments and roofing software for improved installation processes. Storm damage and insurance claims are also driving the market, with renewable energy integration and stormwater management becoming essential considerations.
In the realm of building construction, modified bitumen is utilized in roofing systems due to its excellent waterproofing properties. Asphalt shingles are being replaced by cool roofs and vegetative roofing for better air quality and urban infrastructure development. Circular economy principles are influencing the market, with an emphasis on recycling and reusing roofing materials. Roof leaks and ponding water remain challenges, with innovative solutions being developed to address these issues. Roofing warranty and storm damage are key concerns for contractors and building owners, leading to increased demand for durable and reliable roofing solutions.

How is this Modified Bitumen Industry segmented?

The modified bitumen industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Road construction
  Building construction
  Others


Application

  Hot asphalt method
  Cold asphalt method
  Torch asphalt method


Product Type

  Polymer
  Crumb rubber


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The road construction segment is estimated to witness significant growth during the forecast period. Modified bitumen is a popular material in the construction industry, particularly for roofing systems and road pavements. In roofing applications, it offers various benefits such as enhanced fire resistance, tear resistance, and weather resistance. Modified bitumen roofing membranes come in two forms: applied modified bitumen (SBS and APP) and torch-applied. These membranes are used extensively in both residential and commercial roofing projects. In commercial roofing, modified bitumen provides excellent wind uplift resistance and mechanical fastening, making it an ideal choice for large, low-slope buildings. Roofing contractors also appreciate its ease of installation and durability. In the realm of sustainable roofing, modified bitumen offers a viable solution with its potential for life cycle assessment and recyclability.

For industrial roofing, modified bitumen base sheets and cap sheets provide a robust building envelope, ensuring energy efficiency and thermal conductivity. Roof insulation and adhesive application are crucial aspects of modified bitumen roofing systems, ensuring optimal performance and longevity. In the context of building codes, modified bitumen roofing membranes meet various requirements, including fire resistanc

Global Paving Asphalt market size 2021 was recorded $30441.6 Million whereas by the end of 2025 it will reach $35788 Million. According to the author, by 2033 Paving Asphalt market size will become $49462.7. Paving Asphalt market will be growing at a CAGR of 4.128% during 2025 to 2033.

Graph and download economic data for Producer Price Index by Industry: Petroleum Refineries: Asphalt (PCU3241103241109) from Jun 1985 to Jun 2025 about refineries, asphalt, petroleum, PPI, industry, inflation, price index, indexes, price, and USA.