Paving the Way for Better Projects in Latin America

For the construction industry, the right materials are key to getting the job done. As such, specific markets are anticipated to row. Case in point: asphalt paver market.

According to a new report from Research and Markets, growing road networks, an expansion of highways, and upcoming infrastructure projects, along with rising foreign investments are some of the key factors that have stimulated growth of the asphalt paver market in Latin America. Also, the public private partnership model has gained momentum, resulting in wide use of asphalt pavers in the road construction industry across Latin America.

The Latin America Asphalt Paver Market revenue is estimated to grow at a CAGR (compound annual growth rate) of 4.8% from 2017 until 2022. In 2016, tracked pavers accounted for highest volume share in almost all the countries across Latin America, with hydrostatic technology being the primary choice of contractors. Going forward, the market for the tracked paver is expected to grow on account of higher traction and greater stability.

From a geographic perspective, Mexico and Brazil captured the majority of the market volume share and is expected to dominate the market in the forecast period due to growing investments in roads and highways. Other countries, which are expected to drive the market in the forecast period, are Argentina, Colombia, Chile, Peru, and Panama.

The improvements in Latin America will spur other construction activity that will benefit for years to come.

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