Description:
Pavement Resurfacing Innovation
Invention Summary
This road paving innovation provides solutions to the problems involved in construction of roads which are economical, have longer life, and require less maintenance. The technology creates a crack free, skid resistant, and ravel free road. Also, the invention provides a process for the construction of roads which is capable of addressing problems of prior patent art.
Market Opportunity
According to IBISWorld, the asphalt manufacturing industry is generating $25.7bn in annual revenues, with an annual growth of 0.7% for the past five years and projected annual growth of 1.0% over the next five years. Annual industry profits total $1.6bn and are forecasted to increase from 4.9% of revenue in 2014 to 6.1% in 2019. Although prices are falling behind the growth of the industry, this leaves opportunities for innovative products to increase profit margins in the market.
Features and Benefits
• Use of rubberized wearing surfaces creates predicable resistance to tire wear
• Seals minor pavement cracking to become weatherproof and resists future cracking that results from environmental conditions
• Promotes rapid surface drainage
• Protection of pavement edges
• Compatible with various underlying materials previous pavement patching
• Rapid production and curing rates
Intellectual Property
Issued U.S. Utility Patent #: US 8,080,597