Asphalt, Lubricating Oil And Grease Manufacturing Market Size:
The global asphalt, lubricating oil and grease manufacturing market was valued at around $316 billion in 2017. Asia Pacific was the largest region in the asphalt, lubricating oil and grease manufacturing market in 2017, accounting for more than 40% market share. China was the largest country in the market in 2017, accounting for nearly 15% market share.
Asphalt, Lubricating Oil And Grease Manufacturing Market Overview:
Polymer modified asphalt(PMA), which is variation of traditional asphalt has been gaining popularity as it can be fixed at comparatively low temperatures and retains surface granules better compared to standard granules. Asphalts are mixed with elastomers to produce PMA which has higher rutting resistance and durability. Styrene-butadiene-styrene (SBS) and Styrene-butadiene rubber (SBR) are the most commonly used elastomers to produce PMA. For instance, the global PMA market grew by 7% during 2015-22, thus indicating high demand for PMA.
Asia Pacific was the largest region in the asphalt, lubricating oil and grease manufacturing market in 2017, accounting for two-fifth of the market share. This is mainly attributed to large demand for petroleum products such as lubrication oil and coal products by developing Asian countries.
According to The Business Research Company’s Consultant, Nitin Gianchandani, the use of recycled asphalt shingles (RAS) (a petroleum product which is a variation on traditional ashphalt) in asphalt pavement is increasing rapidly as it significantly reduces costs and resources to lay asphalt pavements. Shingle recycling involves collecting asphalt shingles from roof tear-offs and recycling to produce related products. Shingles constitute about 25%-30% asphalt cement, 40%-60% hard aggregate present in 30 to 60 sieves and 3%-12% fiber which are used in asphalt pavements. Recycled shingles reduces the need for landfills and reclaims resources such as asphalt binder and fine aggregate. For instance, according to the US Environmental Protection Agency and the Federal Highway Administration about 100% of asphalt pavement is recycled, thus indicating high levels of asphalt reclamation.
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Royal Dutch Shell was the largest competitor in the market in 2017. Shell’s growth strategy aims at expanding its asphalt business by creating a strong network of bitumen refineries, depots and flexible logistics. It has also increased its bitumen production capacities in its existing bitumen refineries in Rheinland in Germany and Pernis in the Netherlands and other joint venture refineries.
The asphalt, lubricating oil and grease manufacturing market includes establishments manufacturing block, asphalt paving mixture, asphalt shingle, coating materials, petroleum lubricating oil and grease. Asphalt is a sticky, black and highly viscous liquid or semi-solid form of petroleum used for surfacing roads, flooring, and roofing.
Asphalt, Lubricating Oil And Grease Manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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