US demand for asphalt approaches 28 million tons

摘要

US asphalt demand is forecast to increase 3.7% annually to 27.9 million tons (MMt) in 2017. This is equivalent to 154 million bbl of primary asphalt, the vast majority of which is refined petroleum asphalt. Demand for asphalt is expected to advance from its low 2012 base, spurred by growth in spending on highway and road construction and building construction, the two largest markets. However, asphalt demand in 2017 will not reach the level seen in 2007. Rising use of recycled asphalt pavement (RAP) and increasing interest in rehabilitating and repairing older or worn surfaces (instead of building new roads) will serve as a check on asphalt demand advances. These findings are in a study by The Freedonia Group.