The global paving materials market increased at a compound annual growth rate (CAGR) of 1.7% throughout 2011 to reach a market value of $43 billion, with Europe representing the largest regional market, holding a share of 43.3% at a value of over US$19.5 billion.
2011 saw Asia-Pacific and North America position themselves as the second and third largest regional markets, with shares of 19.6% and 19.4% respectively.
The paving materials market can be broken down into various segments which are bitumen and asphalt, cement/concrete tiles/flagstones, natural stone setts, kerbstones and flagstones, and glass paving blocks.
As a result of its wider acceptability and usage for road construction, the bitumen and asphalt category constituted the largest share of 54.8% in the paving materials market in 2011. Cement and concrete tiles and flagstones is another significant category, but has limited acceptability and usage in road construction, with its growth confined to roof and garden paving.
The continuing economic uncertainty in Europe and sluggish growth in the US are expected to reduce market shares in these western regions. This is also expected because demand in the Asia-Pacific region is growing faster, due to rising infrastructure investment in stable and growing economies such as China and India.
For more information on the global paving materials market, see the latest research: Global Paving Materials Market
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