AFTER a fall of around 18% in asphalt demand during 2012, the market has begun to stabilise.
Although the elimination of any further decline in demand is welcome, the asphalt market performed less well in 2013 than the aggregates and ready mix concrete sectors. Asphalt producers rely on government expenditure for much of their business and government finance remains tight. On the other hand, aggregates and concrete companies have been able to enjoy the recovery in the private housing sector in 2013. Although asphalt is used on housing estate roads, this represents a smaller part of the market than for other building materials.