Market Overview:
The global petroleum asphalt market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for paving and roofing applications, globally. In terms of type, paving petroleum asphalt is expected to hold a major share in the market during the forecast period. This can be attributed to its growing demand for pavements and roads across various regions. In terms of application, paving is expected to hold a major share in the global petroleum asphalt market during the forecast period.
Product Definition:
Petroleum asphalt is a type of asphalt that is derived from petroleum. It is used as a paving material for roads, highways, and parking lots.
Paving Petroleum Asphalt:
Paving petroleum asphalt (PPAs) is a type of road paving material that consists of bitumen, sand and rock. The primary function of PPA is to provide a durable surface for highways and roads. It also has the additional function to ensure the safety of vehicles traveling on any road as it provides strong adhesion between tires and the surface on which they are driving/ walking.
The global paving petroleum asphalt market size was valued at USD 4,65 billion in 2016.
Industrial Petroleum Asphalt:
Industrial petroleum asphalt is a product that is produced from refined crude oil. It has the property to withstand high temperatures and thus finds application in road construction as well as repair. The product also provides resistance against water, wear, and tear which makes it an ideal choice for applications such as parking lots, driveways, highways etc.
The global market for industrial petroleum asphalt consists of two major segments including upstream and downstream segment.
Application Insights:
Paving was the largest application segment in 2017 and is projected to witness significant growth over the forecast period. Paving applications include highways, streets, parking lots, and roofs. The paving petroleum asphalt is a mixture of mineral oil-based emulsions and polymer particles that are blended with bituminous material. It provides good adhesion to water as well as weather conditions under which it is used for road construction.
The product has high demand for roofing applications owing to its superior characteristics including durability & flexibility in hot & cold climate zones with low rainfall where flat roofs are required due to heavy industrial activities such as power generation from coal or gas plants along with excellent resistance towards chemicals & cleaning agents on account of which it finds application across various industries such as chemical processing plant storage buildings etc., globally.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of a large number of refineries and petrochemical plants. The region is expected to witness moderate growth over the forecast period, with paving petroleum asphalt being the major product segment.
The U.S., which is one of the largest consumers of paving asphalt, accounted for more than 80% share in North America market in 2017 on account of rapid infrastructural development and growing automotive industry across all regions except Europe. Asia Pacific also holds significant potential for petroleum asphalt as it has rapidly developing construction industry coupled with increasing road infrastructure spending by various governments at both domestic and international levels. These factors are likely to drive demand over next eight years or so until 2030 when other applications such as roofing begin gaining importance due to increasing need from emerging economies including China, India, Indonesia etc.
Growth Factors:
- Increasing demand for petroleum asphalt in the construction industry as a result of growing infrastructure development activities across the globe.
- Rising demand for petroleum asphalt in the transportation sector due to increasing vehicular population and improving road infrastructure.
- Growing use of petroleum asphalt in roofing applications on account of its superior properties such as weather resistance and durability.
- Increasing penetration of petroleum asphalt into emerging markets owing to rising disposable income levels and improving economic conditions therein.
Scope Of The Report
Report Attributes
Report Details
Report Title
Petroleum Asphalt Market Research Report
By Type
Paving Petroleum Asphalt, Industrial Petroleum Asphalt
By Application
Paving, Roofing, Other
By Companies
ExxonMobil, Cnooc, Sinopec, CNPC, ConocoPhillips, CRH, Pasargad Oil, 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
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Petroleum Asphalt Market Report Segments:
The global Petroleum Asphalt market is segmented on the basis of:
Types
Paving Petroleum Asphalt, Industrial Petroleum Asphalt
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Paving, Roofing, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ExxonMobil
- Cnooc
- Sinopec
- CNPC
- ConocoPhillips
- CRH
- Pasargad Oil
- 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
Highlights of The Petroleum Asphalt Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Paving Petroleum Asphalt
- Industrial Petroleum Asphalt
- By Application:
- Paving
- Roofing
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Petroleum Asphalt Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Petroleum asphalt is a type of asphalt pavement that is made from petroleum products. It has a smooth, shiny surface and can be used for roads, parking lots, and other surfaces.
Some of the major players in the petroleum asphalt market are ExxonMobil, Cnooc, Sinopec, CNPC, ConocoPhillips, CRH, Pasargad Oil, Marathon Oil, Petrobras, Total, Valero, Rosneft, Axeon, SK, Tipco, IOCL, Gazprom Neft PJSC, Pemex, Suncor Energy, Repsol, Nynas, HPCL, KoƒÂ§ Holding, Shell, LOTOS, Husky Energy.
The petroleum asphalt market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Petroleum Asphalt Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Petroleum Asphalt Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Petroleum Asphalt Market - Supply Chain
4.5. Global Petroleum Asphalt Market Forecast
4.5.1. Petroleum Asphalt Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Petroleum Asphalt Market Size (000 Units) and Y-o-Y Growth
4.5.3. Petroleum Asphalt Market Absolute $ Opportunity
5. Global Petroleum Asphalt Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Petroleum Asphalt Market Size and Volume Forecast by Type
5.3.1. Paving Petroleum Asphalt
5.3.2. Industrial Petroleum Asphalt
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Petroleum Asphalt Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Petroleum Asphalt Market Size and Volume Forecast by Application
6.3.1. Paving
6.3.2. Roofing
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Petroleum Asphalt Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Petroleum Asphalt Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Petroleum Asphalt Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Petroleum Asphalt Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Petroleum Asphalt Demand Share Forecast, 2019-2026
9. North America Petroleum Asphalt Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Petroleum Asphalt Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Petroleum Asphalt Market Size and Volume Forecast by Application
9.4.1. Paving
9.4.2. Roofing
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Petroleum Asphalt Market Size and Volume Forecast by Type
9.7.1. Paving Petroleum Asphalt
9.7.2. Industrial Petroleum Asphalt
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Petroleum Asphalt Demand Share Forecast, 2019-2026
10. Latin America Petroleum Asphalt Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Petroleum Asphalt Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Petroleum Asphalt Market Size and Volume Forecast by Application
10.4.1. Paving
10.4.2. Roofing
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Petroleum Asphalt Market Size and Volume Forecast by Type
10.7.1. Paving Petroleum Asphalt
10.7.2. Industrial Petroleum Asphalt
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Petroleum Asphalt Demand Share Forecast, 2019-2026
11. Europe Petroleum Asphalt Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Petroleum Asphalt Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Petroleum Asphalt Market Size and Volume Forecast by Application
11.4.1. Paving
11.4.2. Roofing
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Petroleum Asphalt Market Size and Volume Forecast by Type
11.7.1. Paving Petroleum Asphalt
11.7.2. Industrial Petroleum Asphalt
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections b Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Petroleum Asphalt Demand Share, 2019-2026
12. Asia Pacific Petroleum Asphalt Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Petroleum Asphalt Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Petroleum Asphalt Market Size and Volume Forecast by Application
12.4.1. Paving
12.4.2. Roofing
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Petroleum Asphalt Market Size and Volume Forecast by Type
12.7.1. Paving Petroleum Asphalt
12.7.2. Industrial Petroleum Asphalt
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Petroleum Asphalt Demand Share, 2019-2026
13. Middle East & Africa Petroleum Asphalt Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Petroleum Asphalt Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Petroleum Asphalt Market Size and Volume Forecast by Application
13.4.1. Paving
13.4.2. Roofing
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Petroleum Asphalt Market Size and Volume Forecast by Type
13.7.1. Paving Petroleum Asphalt
13.7.2. Industrial Petroleum Asphalt
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Petroleum Asphalt Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Petroleum Asphalt Market: Market Share Analysis
14.2. Petroleum Asphalt Distributors and Customers
14.3. Petroleum Asphalt Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ExxonMobil
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Cnooc
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Sinopec
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. CNPC
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. ConocoPhillips
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. CRH
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Pasargad Oil
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Marathon Oil
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Petrobras
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Total
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Valero
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Rosneft
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Axeon
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. SK
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Tipco
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. IOCL
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Gazprom Neft PJSC
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Pemex
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Suncor Energy
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Repsol
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
