US demand for asphalt is forecast to increase 3.3% annually to 24.3 million tonness in 2019, the vast majority of which is refined petroleum asphalt, according to a new report.
Demand will be spurred by a rebound in building construction, especially for asphalt shingles. But in the much larger market of asphalt paving, gains will be supported by the efforts of state and local governments to maintain the nation’s aging road and highway network.
Paving accounted for three-quarters of asphalt use in 2014