Reclaimed asphalt pavements (RCP) can be reused since it maintains the quality of minerals and filler materials. However, it consists of hardened asphalt that can be reversed using thermal softening processes owing to its thermoplastic properties. The roads have an average lifespan of 10-30 years, thus require frequent repair and replacement generating asphalt rubbers and chippings. These materials can also be reclaimed and reused in the construction of new road surfaces. Road pavements constructed with virgin asphalts exhibits urban heat island effect as the material absorbs heat from the sun into the ground, thereby heating the pavement area even after sunset. However, the recycled asphalt pavements are light-colored, thereby making it less exposed to heat absorption. As a result, the use of recycled asphalt pavement contributes lesser to the urban heat island effect, thereby heightening its growth prospects over the forecast period. Despite an elaborate process of recycling asphalt, the product is expected to optimize the use of new materials in the road pavement applications. This, in turn, is expected to reduce the government expenditure in road construction. Furthermore, the emerging recycled asphalt market is expected to offer several new business opportunities and environmental protection in the longer run. Several companies are employing efforts to developing custom made solutions and modern plant technologies to offer high-quality asphalt using recycling processes. These modern plant technologies are expected to offer benefits such as the reduction in expensive storage capacities, CO2 reduction. Moreover, the production process in these plants is projected to lower the overall production and transport cost. Currently, the newly developed plants exhibit a reclaimed asphalt ratio of a maximum of 60%. However, the companies are in the development and testing stage of 100% asphalt recycling plant. The global construction industry is witnessing a continuously increasing demand for environmentally sustainable and optimum use of natural resources. Thus, the companies are also involved in developing new asphalt mixing plant concepts without forfeiting the existing production capacities. Global recycled asphalt market is segmented based Recycled asphalt also plays a critical role in improving the durability and surfaces of the gravel roads. Addition of ground recycled asphalt to gravels aid in minimizing gravel road-noise, dust emissions and displacement of gravel from the roadway. In addition, ground recycled asphalt offers high functionality in the construction of temporary driveways and roads. North America dominates the consumption of recycled asphalt across the globe owing since the department of transportation in several states of the U.S. including Minnesota, Missouri, North Carolina, Ohio, Oregon, Texas, and Georgia have authorized the use of recycled asphalt in paving mixes. In addition, several other states are expected to allow the use of recycled asphalt for road pavement applications over the forecast period. Recycled asphalt market in the Asia Pacific is also expected to register a notable growth. The use of recycled asphalt is significantly for all the industry participants owing to lower raw material prices, as well as reduced production and transportation costs. In addition, all the industry participants including asphalt roofing contractors, the road owners, asphalt producers and the manufacturers of the mixing plants are collaborating for launching new technologies. Some of the key players in the global recycled asphalt market include CertainTeed, GAF Materials, Oldcastle Materials, and Owens Corning, Sinopec, Shell Bitumen, Corporation. Cherry Companies, Lone Star Paving, and Bodean Company.