ASPHALT MARKET ANALYSIS
Key players are focusing on strategies such as merger and acquisition, in order to gain market share in the global asphalt market. For instance, in 2011, Tennessee Paving acquired two asphalt plants of Carolina Material Sales Inc. to expand its business in the hot mix asphalt market. Moreover, in February 2019, Construction Partners, Inc. acquired a liquid asphalt terminal, which is located in the Panama City, Florida. The acquisition has been done to supply liquid asphalts in the asphalt market.
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