U.S. Asphalt Demand to Reach 42.7 Million Tons
According to the Freedonia Group Inc., Cleveland, U.S. demand for asphalt is forecast to advance 2 percent per annum through 2005 to 42.7 million tons, requiring 219 million barrels of primary asphalt. Asphalt advances through 2005 will be boosted by solid gains in paving products, resulting from increasing expenditures on highway maintenance and construction.
Demand for asphalt used in the production of roofing products is expected to increase under 2 percent per year to seven million tons in 2005. Reroofing demand will offer the best opportunities for gains over the period. Asphalt shingles and modified bitumen roofing will post the fastest advances through 2005.