Brazil Asphalt Market Outlook
According to a new report by Expert Market Research titled, “Brazil Asphalt Market Size, Share, Growth, Analysis, Report and Forecast 2024-2032″, Brazil asphalt market reached a volume of 3.43 million tonnes in 2023. Aided by infrastructure modernisation and increasing utilisation of asphalt for recreational applications, the market is projected to further grow at a CAGR of 3.80% between 2024 and 2032 to reach a volume of USD 4.28 million tonnes by 2032.
Asphalt, a sticky, black, and highly viscous semi-solid form of petroleum, is primarily used for constructing roads and as a waterproofing agent in products like bituminous waterproofing products and roofing felt. Given its durability, weather resistance, and excellent adhesive properties, asphalt is a preferred choice for road construction and maintenance, especially in regions with significant vehicular traffic.
Brazil, with its sprawling land area and increasing urbanization rates, continually seeks to upgrade and expand its road networks. This endeavour is not merely limited to connecting cities but also involves improving access to its vast rural regions. As such, the demand for asphalt for road construction and maintenance has witnessed a considerable surge. Additionally, Brazil’s focus on improving its transport infrastructure in preparation for global events and fostering better trade routes has further stimulated the Brazil asphalt market growth.
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Furthermore, Brazil’s real estate and construction sectors are also undergoing significant growth, especially in urban areas. With rising urban populations and the subsequent need for residential and commercial spaces, there’s an upswing in the demand for asphalt for parking lots, pavements, and other constructions.
Yet another contributing factor to the growing Brazil asphalt market demand is Brazil’s evolving aviation industry. With a growing number of airports and airstrips being developed, the demand for high-quality asphalt suitable for runways is on the rise.
In addition to its traditional uses, advancements in asphalt formulation and application have paved the way for its increased use in water reservoirs, landfill sites, and dam construction owing to its waterproofing capabilities. The production process emits greenhouse gases, and there’s a push towards seeking environmentally friendly alternatives or methods. Nevertheless, research into sustainable and eco-friendly asphalt production methods, including the recycling of old asphalt pavements, presents promising growth avenues for the Brazil asphalt market outlook.
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Brazil Asphalt Market Segmentation
The market can be divided based on product, type, application, end use, and region.
Market Breakup by Product
- Asphalt Paving Mixtures and Blocks
- Prepared Asphalt and Tar Roofing and Siding Products
- Roofing Asphalts and Pitches, Coatings and Cement
Market Breakup by Type
- Hot Mix Asphalt
- Warm Mix Asphalt
- Cold Mix Asphalt
Market Breakup by Application
- Roadways
- Waterproofing
- Recreation
- Others
Market Breakup by End Use
- Residential
- Non-Residential
Market Breakup by Region
- São Paulo
- Minas Gerais
- Rio de Janeiro
- Bahia
- Rio Grande do Sul
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Brazil asphalt market. Some of the major players explored in the report by Expert Market Research are as follows:
- Petrobras
- CCR Group
- Grupo GRECA Asfaltos
- NTA – Asphalts
- Betunel Industria e Comercio SA
- Emam Asfaltos
- Others
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