Petroleum Asphalt Consumption Market Synopsis:
In this report, LP Information covers the present scenario with the base year being 2017 and the growth prospects of global Petroleum Asphalt market for 20182023.
Petroleum asphalt is a sticky, black and highly viscous liquid or semisolid 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 higherboiling hydrocarbons in crude oil by precipitation upon the addition of lowerboiling 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.
Over the next five years, LPILP Information projects that Petroleum Asphalt will register a 6.9% CAGR in terms of revenue, reach US$ 72700 million by 2023, from US$ 48800 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Petroleum Asphalt market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Paving Petroleum Asphalt
Industrial Petroleum Asphalt
Segmentation by application:
This report also splits the market by region:
Middle East & Africa
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:
Pasargad Oil Company
Gazprom Neft PJSC
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.
To study and analyze the global Petroleum Asphalt consumption value & volume by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
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, industryspecific 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.