Asphalt Demand in China to Reach 15 Million Metric Tons in 2008
The Chinese asphalt market will experience the fastest growth among major economies in the world, driven by strong gains in road construction activity as well as healthy advances in building construction.
Demand for asphalt in China is forecast to rise 6.8 percent per annum through 2008 to 15 million metric tons. The Chinese asphalt market will experience the fastest growth among major economies in the world, driven by strong gains in road construction activity as well as healthy advances in building construction. These and other trends are presented in Asphalt in China, a new study from The Freedonia Group Inc., a Cleveland-based market research firm.
Asphalt demand in paving applications will outperform roofing, rising 8.1 percent per year to 11.3 million metric tons in 2008, and accounting for three-quarters of overall demand in China. Market gains will be primarily driven by strong increases in road construction activity. Asphalt has surpassed concrete in road construction and will continue to account for the majority of road paving in China.