Press Release Summary = Asphalt demand in China to grow over 6% annually through 2010
The asphalt market in China has expanded 12.5 percent a year during the last decade and topped 12.3 million metric tons in 2005.
Press Release Body = Asphalt in China forecasts to 2010 & 2015
Asphalt demand in China to grow over 6% annually through 2010
The asphalt market in China has expanded 12.5 percent a year during the last decade and topped 12.3 million metric tons in 2005. Demand increases will continue to outpace the worldwide asphalt market, rising 6.0 percent annually through 2010 to over 16 million metric tons, benefitting from robust growth in the booming construction industry in China.
Demand for paving asphalt to post outstanding gains
Demand for asphalt in paving applications is projected to register robust gains through 2010. Among the different types of asphalt paving products, demand for emulsified asphalt will benefit from increasing use in maintenance and repair applications and post the best gains through 2010. Asphalt cement will continue as the dominant asphalt paving product, accounting for over threequarters of overall demand for paving asphalt. In addition, continuing adoption of performance-based specifications for road construction will generate demand for polymer-modified asphalts.
Nonbuilding market will remain dominant
Nonbuilding construction will remain the largest as well as the fastest growing market for asphalt products, benefitting from the country's ambitious road construction plan, reflecting the government's efforts to improve the country's infrastructure. The nonresidential building market for asphalt will also enjoy healthy expansion over the forecast period as construction activity continue to post strong gains, particularly in the office, commercial and industrial segments. Nonresidential building activity will boost demand for asphaltic roofing, such as built-up roofing and modified bitumen membranes, as well as for asphalt paving products used in driveways and parking lots. Asphalt demand in the residential building segment is expected to grow at modest rates during the forecast period. Nevertheless, such roofing products as asphalt shingles and modified bitumen membranes will continue their inroads in the residential building market, driving asphalt demand.
Opportunities vary by region
Although China is a single nation, it consists of many distinct regional markets characterized by different economies, cultures and languages. The Northwest remains largely underdeveloped, but is targeted by the central government's "Go West" strategy, which will result in sizable growth in roofing demand, benefitting from surging building construction activity in the region. Also, the Northeast -- credited as "the cradle of China's planned economy", although it has experienced subpar economic growth in the past decade -- is positioned by the central government's "Reviving the Northeast" campaign to become the fourth economic engine for China, joining ranks with the Pearl River Delta, the Yangtze River Delta and the Jing-Jin-Tang Triangle areas. However, the Central-East and Central-South regions will remain home to well over half of China's total population and will continue to be the two biggest regional asphalt markets in China through 2010.
Study coverage
International asphalt product producers and distributors recognize the tremendous market potential that China offers. However, planning for expansion into China is difficult due to the lack of reliable market information. Asphalt in China, a new Freedonia industry study priced at $4900, provides the information and analysis that you need in order to plan for your company's positioning in China. The study presents historical asphalt demand data (1995, 2000, 2005) plus forecasts to 2010 and 2015 by product type and market. In addition, the study also includes regional breakouts for major market categories,presents company market share data and profiles leading players in the Chinese asphalt industry.
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2025
