MODEST GROWTH PREDICTED FOR ASPHALT.
World demand for asphalt is forecast to expand 2.1% annually from 2008 to 108 million metric tons in 2013.
In the most developed asphalt markets (North America, Western Europe and Japan), demand suffered in 2008. These regions will post moderate gains in demand through 2013. Growth in China and India will remain well above the world average, although gains will decelerate. Paving products accounted for more than 80% of total asphalt demand in 2008. These trends were presented in a new study from The Freedonia Group.
With demand totaling nearly 30 million metric tons in 2008, North America is the largest regional market for asphalt. Demand will rebound in both paving and roofing markets, with overall demand reaching nearly 33 million metric tons in 2013.
The Asia/Pacific region is the fastest-growing geographic market for asphalt. Demand for asphalt in Western Europe is projected to increase less than 1% annually to 22 million metric tons in 2013.