In recent years, the asphalt economy has become one of the most vital sources of material recycling in the construction space. In fact, asphalt, also known as bitumen, has been named the most recycled material on Earth as of December 2021. The binding capabilities, structural strength, and temperature resistance are only a few of the prized aspects of this versatile building material, allowing it to be used for roadways, surfaces, parking lots, and roof shingles, to name a few uses. In 2019, the United States produced nearly 500 million tons of asphalt and owned almost 40 billion barrels of bitumen deposits, numbers that are only expected to increase with environmental efforts in the future.
The asphalt economy is so successful mainly because of the circular lifestyle of asphalt. At the end of its life, usable bitumen is extracted and recovered to become further material for a variety of necessary uses. Roughly 99% of all asphalt pavement is recovered every year, helping to protect the people, property, and our planet as a whole. This now over $7 billion dollar industry benefits all involved, helping to reduce negative environmental impact as well as saves money for companies and taxpayers.
Asphalt shingles are part of a closed loop recycling process, showcasing one of the many uses of bitumen in our everyday life. Just 95% of asphalt and bitumen recovery allows for the resale of roadway material, asphalt granules, and bitumen oil. The asphalt economy isn’t just the future, but plays a vital role in our everyday lives as we know them today.
The most common users of recycled asphalt are government contractors. Government factoring companies could be helpful if you are having trouble getting paid. If you are a government contractor then you know working capital is a major obstacle for government contractors. It’s common knowledge that the government pays its bills, but does so slowly. While you wait for payment, you could find yourself rushing to get the operating capital you need in order to begin working on your government contract or to carry on with the tasks required to secure the next government contract.