The import of natural bitumen and asphalt to the US is forecasted to grow steadily from 2024 to 2028. The value stood at 203.15 Million US Dollars in 2023, indicating consistent incremental gains over the next five years. Year-on-year variations suggest an approximate 2.3% growth annually. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is estimated to be around 2.2%.
Future trends to watch for include:
- Increasing demand driven by infrastructure developments and road maintenance projects.
- Potential impacts of environmental regulations and innovations in sustainable materials.
- Geopolitical factors affecting supply chain and import costs.
