In 2023, the import volume of bitumen and asphalt, asphaltites, and asphaltic rocks to the US stood at 507.50 million kilograms. Based on the forecast data for the period between 2024 and 2028, import volumes are expected to gradually increase each year. Specifically, the volume is projected to rise from 517.93 million kilograms in 2024 to 556.08 million kilograms in 2028. Year-on-year, this represents a consistent growth trend: a 1.91% increase from 2023 to 2024, followed by approximate incremental growth rates of 1.90%, 1.83%, 1.75%, and 1.69% in the subsequent years respectively. The compound annual growth rate (CAGR) over this five-year period is forecasted to be around 1.82%.
Key future trends to watch for in this market include potential regulatory changes in the US regarding the composition and use of bitumen and asphalt materials. Additionally, technological advancements in production and application methods may affect import volumes. Global supply chain fluctuations and the rise of green and sustainable construction practices could also significantly impact future import patterns.
