U.S.: Asphalt Paving Mixture Market 2024

Asphalt Paving Mixture Market Size in the U.S.

In 2021, the U.S. asphalt paving mixture market decreased by -3.1% to $X, falling for the third year in a row after two years of growth. Overall, consumption saw a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when the market value increased by 9.7% against the previous year. Asphalt paving mixture consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Asphalt Paving Mixture Production in the U.S.

In value terms, asphalt paving mixture production reduced modestly to $X in 2021. In general, production showed a noticeable decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 8.8%. Asphalt paving mixture production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Asphalt Paving Mixture Exports

Exports from the U.S.

Asphalt paving mixture exports from the United States rose significantly to X tons in 2021, picking up by 9.8% compared with 2020 figures. Over the period under review, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 184% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, asphalt paving mixture exports soared to $X in 2021. Overall, exports, however, continue to indicate a pronounced decrease. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for asphalt paving mixture exports from the United States, accounting for a 37% share of total exports. Moreover, asphalt paving mixture exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), sixfold. The third position in this ranking was held by Thailand (X tons), with a 4.9% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to Canada stood at -13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-7.2% per year) and Thailand (+11.9% per year).

In value terms, Canada ($X) remains the key foreign market for asphalt paving mixtures and blocks exports from the United States, comprising 32% of total exports. The second position in the ranking was taken by Mexico ($X), with a 4.9% share of total exports. It was followed by Japan, with a 4.7% share.

From 2013 to 2021, the average annual growth rate of value to Canada totaled -6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-9.7% per year) and Japan (+2.3% per year).

Export Prices by Country

In 2021, the average asphalt paving mixture export price amounted to $X per ton, with an increase of 12% against the previous year. Over the period under review, the export price saw measured growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 110%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Saint Helena, Ascension and Tristan da Cunha ($X per ton), while the average price for exports to Bahamas ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Asphalt Paving Mixture Imports

Imports into the U.S.

In 2021, asphalt paving mixture imports into the United States soared to X tons, with an increase of 37% on 2020. In general, imports recorded a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 253% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, asphalt paving mixture imports soared to $X in 2021. Overall, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 64%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Canada (X tons) constituted the largest asphalt paving mixture supplier to the United States, with a 78% share of total imports. Moreover, asphalt paving mixture imports from Canada exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 5.6% share.

From 2013 to 2021, the average annual growth rate of volume from Canada totaled +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+87.1% per year) and Spain (+52.5% per year).

In value terms, Canada ($X) constituted the largest supplier of asphalt paving mixtures and blocks to the United States, comprising 76% of total imports. The second position in the ranking was taken by Belgium ($X), with a 9.2% share of total imports. It was followed by Spain, with a 5.3% share.

From 2013 to 2021, the average annual rate of growth in terms of value from Canada stood at +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+90.3% per year) and Spain (+41.1% per year).

Import Prices by Country

The average asphalt paving mixture import price stood at $X per ton in 2021, growing by 5.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 76% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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