The Chinese asphalt market is expected to experience the fastest growth among other major world economies in the next three years, according to a recent study conducted by the Freedonia Group, a Cleveland-based research firm.
Measured in yuan, asphalt demand is anticipated to rise more than 10 percent per year through 2008 to 31.5 billion yuan.
The Freedonia study predicts asphalt paving will outperform roofing, rising 8.1 percent per year to 11.3 million metric tons in 2008 and accounting for more than three-quarters of the overall demand in China.
According to the study, demand for asphalt in the roofing industry will experience moderate to below average growth of 3.4 percent per year through 2008.
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