Lucintel's latest market report analyzed that recycled asphalt provides attractive opportunities in the patch material, hot-mix asphalt, temporary driveway & road, road aggregate for unpaved roadway, interlocking brick, new asphalt shingle, and energy recovery applications. The recycled asphalt market is expected to reach $9.7 billion by 2028 with a CAGR of 5.3%. In this market, hot recycling is the largest segment by product type, whereas patch materialis largest by application.
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Based on product type, the recycled asphalt market is segmented into hot recycling and cold recycling. The hot recycling segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the rising demand for these asphalts because of its ease of handling and processing.
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The Recycled Asphalt Market is marked by the presence of several big and small players. Some of the prominent players offering recycled asphalt include Bodean, CertainTeed, Cherry Companies, Downer Group, and GAF Materials.
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