Modified Asphalt Strengthens Roofing shingles

The global Asphalt, Lubricating Oil And Grease Manufacturing market, a part of the oil and gas industry, declined at a compound annual growth rate (CAGR) of around -13% during the historic period. The oil and gas industry showed a drastic decline. This can be mainly attributed to the fall in the global crude oil price, as it affected petroleum production and prices of asphalt, lubricating oil and grease manufacturing.

In the forecast period, the global Asphalt, Lubricating Oil And Grease Manufacturing market size is expected to be over $300 billion by 2021, growing at a CAGR of nearly 2%. This is expected due to rise in demand for petroleum products from developing nations and the expected return of stability in the global oil and gas pricing. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global Asphalt, Lubricating Oil And Grease Manufacturing market in the future.

Find TBRC’s report on the Asphalt, Lubricating Oil And Grease Manufacturing market: https://www.thebusinessresearchcompany.com/report/asphalt-lubricating-oil-and-grease-manufacturing-global-market-report-2018

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.

Major companies in the Asphalt, Lubricating Oil And Grease Manufacturing market, offering PMA technology include Royal Dutch Shell, BP P.L.C., Gazprom Neft, CRH Plc, Owens Corning Sales LLC, Lafargeholcim Ltd, Valero, Imperial Oil Ltd, Vulcan Materials Co.

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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 is segmented into Asphalt and Other Petroleum Products segments.

Asphalt segment includes companies manufacturing asphalt and tar paving mixtures and blocks from purchased asphaltic materials.

Other Petroleum Products Manufacturing comprises establishments manufacturing petroleum products from refined petroleum and coal products made in coke ovens such as petroleum briquettes, coke oven products, petroleum waxes, and oil-based additives (this does not include coke production integrated with a steel mill).

The top five companies covered are Royal Dutch Shell, BP P.L.C., Gazprom Neft, CRH Plc and Owens Corning Sales LLC. Royal Dutch Shell was the largest competitor in the asphalt and other petroleum products market in 2017.

The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.

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