Petroleum asphalt is a sticky, black and highly viscous liquid or semi-solid that is present in most petroleum crude oils and in some natural deposits. Petroleum crude oil is a complex mixture of a great many different hydrocarbons. Petroleum asphalt is defined as that part of crude oil which is separated from the higher-boiling hydrocarbons in crude oil by precipitation upon the addition of lower-boiling hydrocarbon solvents such as propane, pentane, hexane or petroleum asphalt. The precipitated material consists of asphaltenes which have an average molecular weight of about (800 - 2500 g/mole) and exist in the form of flat sheets of polyaromatic condensed rings with short aliphatic chains.
Currently, there are several producing companies in the world petroleum asphalt industry. The main players are ExxonMobil, Shell, Cnooc, Sinopec, ConocoPhillips, CRH and Pasargad Oil Company. The global production of petroleum asphalt will increase to 180.26 M MT in 2018 from 134.64 M MT in 2013 with average growth rate of 6.01%.
In consumption market, North America, Europe and China are the mainly consumption regions due to the bigger demand of downstream applications. In 2017, these three regions occupied 66.23% of the global consumption volume in total.
Petroleum asphalt has two grades, which include paving petroleum asphalt and industrial petroleum asphalt. And each type has different application people and places relatively. With versatility of petroleum asphalt, the downstream application industries will need more petroleum asphalt products. So, petroleum asphalt has a huge market potential in the future.
The major raw materials for petroleum asphalt are crude oil. Fluctuations in the price of crude oil will impact on the production cost of petroleum asphalt. The production cost of petroleum asphalt is also an important factor which could impact the price of petroleum asphalt.
We tend to believe this industry is a rising industry, and the consumption increasing degree will show a smooth growth curve. And the price presents fluctuation according to the economy development status and international competition. Also, there is fluctuation in gross margin.
According to this study, over the next five years the Petroleum Asphalt market will register a 6.9% CAGR in terms of revenue, the global market size will reach US$ 72700 million by 2024, from US$ 48800 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Petroleum Asphalt business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Petroleum Asphalt market by product type, application, key manufacturers and key regions and countries.
This study considers the Petroleum Asphalt value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Paving Petroleum Asphalt
Industrial Petroleum Asphalt
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Paving
Roofing
Other
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
ExxonMobil
Cnooc
Sinopec
CNPC
ConocoPhillips
CRH
Pasargad Oil Company
Marathon Oil
Petrobras
Total
Valero
Rosneft
Axeon
SK
Tipco
IOCL
Gazprom Neft PJSC
Pemex
Suncor Energy
Repsol
Nynas
HPCL
Koç Holding
Shell
LOTOS
Husky Energy
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Petroleum Asphalt consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Petroleum Asphalt market by identifying its various subsegments.
Focuses on the key global Petroleum Asphalt manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Petroleum Asphalt with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Petroleum Asphalt submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Summary:
Get latest Market Research Reports on Petroleum Asphalt . Industry analysis & Market Report on Petroleum Asphalt is a syndicated market report, published as Global Petroleum Asphalt Market Growth 2019-2024. It is complete Research Study and Industry Analysis of Petroleum Asphalt market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.