Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Petroleum Asphalt Market by Type (Paving Petroleum Asphalt, Industrial Petroleum Asphalt), By Application (Paving, Roofing, Other) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Petroleum Asphalt Market by Type (Paving Petroleum Asphalt, Industrial Petroleum Asphalt), By Application (Paving, Roofing, Other) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 143302 3300 Chemical & Material 377 241 Pages 4.9 (48)

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.

Global Petroleum Asphalt Industry Outlook

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


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


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:


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.


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:

  1. ExxonMobil
  2. Cnooc
  3. Sinopec
  4. CNPC
  5. ConocoPhillips
  6. CRH
  7. Pasargad Oil
  8. Marathon Oil
  9. Petrobras
  10. Total
  11. Valero
  12. Rosneft
  13. Axeon
  14. SK
  15. Tipco
  16. IOCL
  17. Gazprom Neft PJSC
  18. Pemex
  19. Suncor Energy
  20. Repsol
  21. Nynas
  22. HPCL
  23. Koç Holding
  24. Shell
  25. LOTOS
  26. Husky Energy

Global Petroleum Asphalt Market Overview

Highlights of The Petroleum Asphalt Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Paving Petroleum Asphalt
    2. Industrial Petroleum Asphalt
  1. By Application:

    1. Paving
    2. Roofing
    3. Other
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. 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.

How you may use our products:

  • Correctly Positioning New Products
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Global Petroleum Asphalt Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. 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.

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 Overview Financials Developments Strategic Outlook
      14.4.2. Cnooc Overview Financials Developments Strategic Outlook
      14.4.3. Sinopec Overview Financials Developments Strategic Outlook
      14.4.4. CNPC Overview Financials Developments Strategic Outlook
      14.4.5. ConocoPhillips Overview Financials Developments Strategic Outlook
      14.4.6. CRH Overview Financials Developments Strategic Outlook
      14.4.7. Pasargad Oil Overview Financials Developments Strategic Outlook
      14.4.8. Marathon Oil Overview Financials Developments Strategic Outlook
      14.4.9. Petrobras Overview Financials Developments Strategic Outlook
      14.4.10. Total Overview Financials Developments Strategic Outlook
      14.4.11. Valero Overview Financials Developments Strategic Outlook
      14.4.12. Rosneft Overview Financials Developments Strategic Outlook
      14.4.13. Axeon Overview Financials Developments Strategic Outlook
      14.4.14. SK Overview Financials Developments Strategic Outlook
      14.4.15. Tipco Overview Financials Developments Strategic Outlook
      14.4.16. IOCL Overview Financials Developments Strategic Outlook
      14.4.17. Gazprom Neft PJSC Overview Financials Developments Strategic Outlook
      14.4.18. Pemex Overview Financials Developments Strategic Outlook
      14.4.19. Suncor Energy Overview Financials Developments Strategic Outlook
      14.4.20. Repsol Overview Financials Developments Strategic Outlook

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