Acknowledging the kind of traction gained by this market, Industry Data Analytics recently published a study report asserts the global Petroleum Asphalt Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 4.9% during the review period (2022 to 2027).
Petroleum asphalt is a sticky, black and extremely 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 diverse hydrocarbons. It is defined as that part of crude oil which is divided 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.
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.
Top Key players in the Petroleum Asphalt Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Petroleum Asphalt Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes ExxonMobil, CNOOC Limited (HKSE :0883.HK), Sinopec, CNPC, ConocoPhillips (NYSE:COP), CRH plc (NYSE:CRH), Pasargad Oil, Marathon Oil Corporation (NYSE:MRO), Petrobras, Total, Valero Energy Corporation (NYSE:VLO), Rosneft, Axeon, SK, Tipco, IOCL, Gazprom Neft PJSC, Pioneer Emerging Markets Equity Fund Class A (Nasdaq:PEMEX), Suncor Energy Inc. (NYSE:SU), Repsol, Nynas, HPCL, Koppers Holdings Inc. (NYSE :KOP), Shell plc (NYSE:SHEL), LOTOS, Husky Energy and others.
Industry News:
Apr 14, 2021: Chinese industry to benefit as cnooc and shell start up new petrochemicals units. One new unit is the largest of its type in China, producing up to 630,000 tonnes per year of styrene monomer and 300,000 tonnes per year of propylene oxide. These chemicals are used in a wide range of applications, from household appliances to packaging and computers. The unit is also highly efficient. By using the Shell Group’s own SMPO process technology and making design improvements, it uses significantly less energy. It is the second unit of its kind built at the petrochemicals complex in Huizhou, Guangdong Province, China, which is operated by CSPC.
Petroleum Asphalt Market is segmented based on the type, applications, companies and regions.
By Type, Petroleum Asphalt Market has been segmented into
The end user’s industry application on Petroleum Asphalt Market is,
The report offers in-depth assessment of the growth and other aspects of the Petroleum Asphalt Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
North America, Europe and China are the mainly consumption regions due to the bigger demand of downstream applications. In previous year, these three regions occupied 66% of the global consumption volume in total.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 4.2% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | ExxonMobil, CNOOC Limited (HKSE :0883.HK), Sinopec, CNPC, ConocoPhillips (NYSE:COP), CRH plc (NYSE:CRH), Pasargad Oil, Marathon Oil Corporation (NYSE:MRO), Petrobras, Total, Valero Energy Corporation (NYSE:VLO), Rosneft, Axeon, SK, Tipco, IOCL, Gazprom Neft PJSC, Pioneer Emerging Markets Equity Fund Class A (Nasdaq:PEMEX), Suncor Energy Inc. (NYSE:SU), Repsol, Nynas, HPCL, Koppers Holdings Inc. (NYSE :KOP), Shell plc (NYSE:SHEL), LOTOS, Husky Energy and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 133 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Petroleum Asphalt Market is studied from 2017 - 2027.
What is the growth rate of Petroleum Asphalt Market?
The Petroleum Asphalt Market is growing at a CAGR of 4.9% over the next 5 years.
Who are the leading key players in Petroleum Asphalt Market?
ExxonMobil, CNOOC Limited (HKSE :0883.HK), Sinopec, CNPC, ConocoPhillips (NYSE:COP), CRH plc (NYSE:CRH), Pasargad Oil, Marathon Oil Corporation (NYSE:MRO), Petrobras, Total, Valero Energy Corporation (NYSE:VLO), Rosneft, Axeon, SK, Tipco, IOCL, Gazprom Neft PJSC, Pioneer Emerging Markets Equity Fund Class A (Nasdaq:PEMEX), Suncor Energy Inc. (NYSE:SU), Repsol, Nynas, HPCL, Koppers Holdings Inc. (NYSE :KOP), Shell plc (NYSE:SHEL), LOTOS, Husky Energy and others.
What regions regions does this Petroleum Asphalt Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Petroleum Asphalt Market?
Paving Petroleum Asphalt, Industrial Petroleum Asphalt
What are the significant Applications of Petroleum Asphalt Market?
Paving, Roofing, Other
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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