The sold production of asphalt articles in Spain has shown significant fluctuations over the past decade. After a decline of over 50% from 2013 to 2017, the market saw stabilization and modest growth from 2018 onwards. In 2023, the value stood at 55.269 million square meters, reflecting a 3.06% year-on-year increase. Notably, from 2018 to 2023, the market experienced a robust average annual growth (CAGR) of 9.32%. The predicted CAGR for the next five years stands at 2.14%, projecting continued but slower growth, resulting in an 11.14% cumulative increase by 2028.
Future trends to watch include advancements in sustainable asphalt production and innovations in durable materials. Additionally, economic factors and infrastructure investments will play crucial roles in shaping market dynamics. Close monitoring of regulatory changes and environmental policies is also essential.
- 2013: -10.72% YoY, -4.12% CAGR
- 2014: 4.31% YoY, -4.41% CAGR
- 2015: -3.86% YoY, -6.22% CAGR
- 2016: -13.21% YoY, -7.88% CAGR
- 2017: -29.33% YoY, -11.3% CAGR
- 2018: -1.08% YoY, -9.46% CAGR
- 2019: 8.28% YoY, -8.78% CAGR
- 2020: -1.72% YoY, -8.38% CAGR
- 2021: 38.2% YoY, 0.56% CAGR
- 2022: 3.03% YoY, 8.43% CAGR
- 2023: 3.06% YoY, 9.32% CAGR
- 2028: Forecast 5-year CAGR 2.14%, Forecast 5-year growth rate 11.14%
