Petroleum asphalt is a sticky, black and highly 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 different hydrocarbons. Petroleum asphalt is defined as that part of crude oil which is separated 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.
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.
According to this study, over the next five years the Petroleum Asphalt market will register a 6.9% CAGR in terms of revenue, the global market size will reach US$ 72700 million by 2024, from US$ 48800 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Petroleum Asphalt business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Petroleum Asphalt market by product type, application, key manufacturers and key regions and countries.
This study considers the Petroleum Asphalt value and volume generated from the sales of the following segments:
Global Petroleum Asphalt Market report features the major aspect of the market in terms of historic data, current market situations, market demand along with detailed analysis of the key players involved in the market.Petroleum Asphalt Industry report also provides essential attributes associated with Petroleum Asphalt market and act an essential tool to companies active across the value chain and to the newcomer by enabling them to capitalize the opportunities and develop business strategies.
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Global Petroleum Asphalt Market focuses on the, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.Petroleum Asphalt business report categorizes the market based on manufacturers, regions, type and application. From a global perspective, this report represents Petroleum Asphalt market in-depth outlook by analyzing historical statistics and future prospect.
TOP MOST PLAYERS:
Pasargad Oil Company
Gazprom Neft PJSC
Market Segment by Type, covers:
Paving Petroleum Asphalt
Industrial Petroleum Asphalt
Market Segment by Applications, can be divided into:
The prospective of this Petroleum Asphalt industry study delivers the key industry dynamic with respect to driving & limiting factors with their current and expected impact on market growth. Moreover, Petroleum Asphalt present market share and future prospects of the segment in terms of has also been explored in this report.
Global Petroleum Asphalt market report showcases qualitative and quantitative estimation by industry analysts, first-hand data, and assistance from industry experts along with each industry manufacturers by the market valuation. Petroleum Asphalt report also gives extensive analysis of market share, latest industry trends and forecast data analysis with respect to sales revenue, market growth, and demand and supply scenario.
Conclusively, the Petroleum Asphalt Market report provides major statistics on the state of the industry also it is considered as an essential source of guidance and direction for businesses and individuals involved in the market.