The World of the Asphalt Economy
Asphalt, also known as bitumen, is one of the most versatile materials on Earth. It is used for many activities, from paving roadways to making roof shingles. The various qualities of the material, including its strength and temperature resistance, make it a useful construction resource that the U.S. has created 420 million tons of in 2019.
Asphalt is known to be 100% renewable thanks to its ability to be recycled. Asphalt at the end of its life goes through a process that removes the still usable asphalt from the extraneous portions so it can be resold and reused. 99% of the asphalt in the U.S. pavement is retrieved through this extraction process each year.
Asphalt recycling can help both the environment and society. Reusing asphalt can help reduce air pollution and prevent tons of shingle waste from filling dumps. It can also cut manufacturing costs while decreasing tax dollars.
The success of the asphalt recovery market has helped shingle recovery find momentum in the market space as well. An estimated compound annual growth rate (CAGR) of 6% within the next few years, the increasing need for asphalt, and more mandatory shingle recycling laws are helping the shingle recovery business boom.
The asphalt shingle recycling process follows a four-step process that pulls bitumen out of the shingles and other waste using a solvent and heat. The process recovers 95% of the asphalt and bitumen that can be resold and reused.
The asphalt economy is on the rise and will probably continue to be on the rise as more people put more emphasis on recycling and sustainability.