Overview and Scope
Asphalt is a sticky, black, and highly viscous liquid or semi-solid form of petroleum used for surfacing roads, flooring, and roofing. Lubricating oil and grease are a group of refined oils intended to lessen wear and friction between bearing metallic surfaces.
Sizing and Forecast
The asphalt, lubricating oil and grease market size has grown strongly in recent years. It will grow from <b>$273.6 billion in 2023 to $290.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. </b> The growth in the historic period can be attributed to economic growth and infrastructure development, environmental regulations, technological advancements, energy trends.
The asphalt, lubricating oil and grease market size is expected to see strong growth in the next few years. It will grow to <b>$362.21 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. </b> The growth in the forecast period can be attributed to transportation and automotive industry, global demand for construction and manufacturing, climate change and sustainability, population growth and urbanization. Major trends in the forecast period include technological innovations in asphalt production, high-performance products, smart infrastructure, electric vehicles (evs) and alternative fuels, diversification of product portfolios, customization and formulation flexibility.
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Segmentation & Regional Insights
The asphalt, lubricating oil and grease market covered in this report is segmented –
1) By Type: Asphalt, Other Petroleum Products
2) By Application: Roadways, Waterproofing, Recreation, Other Applications
3) By End Use Industries: Power Generation, Transport, Metallurgy & Metalworking, Food & Beverage, Chemical, Other End Use Industries
Subsegments Covered: Asphalt Paving Mixtures And Blocks, Prepared Asphalt And Tar Roofing And Siding Products, Roofing Asphalts And Pitches, Coatings And Cements
<b>North America</b> was the largest region in the asphalt, lubricating oil, and grease market in 2023. <b>Asia-Pacific</b> was the second largest region in the asphalt, lubricating oil, and grease market. The regions covered in the asphalt, lubricating oil and grease market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
Producers of petroleum-based lubricants are offering bio-based lubricants to address the concerns associated with the impact of lubricants on the environment. Bio-based lubricants are formulated with renewable or biodegradable materials. Vegetable oils are one of the major components for bio-based lubricants. Vegetable oils offer high lubricity, viscosity, and thermal stability. They have a higher flash point of 326 °C as compared to flash point of 200 °C for mineral oils. Lubricants produced from vegetable oils include tractor transmission hydraulic fluid, industrial hydraulic fluids for process and machinery applications, food-grade hydraulic fluids and greases, greases for use in automotive, railroad, and machinery applications, chainsaw bar oil, gear lubes, compressor oil, and transformer and transmission line cooling fluids.
Key Industry Players
Major companies operating in the asphalt, lubricating oil and grease market include <b> Exxon Mobil, Royal Dutch Shell, Saudi Aramco, BP plc, Glencore International, Guardian Industries LLC, Owens Corning, Suncor Energy Inc, Husky Energy Inc, CRH plc, Chevron Corporation, Total S.A., Valvoline Inc., Fuchs Petrolub SE, Petro-Canada Lubricants Inc., HollyFrontier Corporation, Sonneborn LLC, Red Giant Oil Company, Valero Energy Corporation, Imperial Oil Limited, Vulcan Materials Company, Gazprom Neft, LafargeHolcim Ltd., Nynas AB, Calumet Specialty Products Partners L.P., CITGO Petroleum Corporation, Phillips 66, PetroChina Company Limited, Indian Oil Corporation Limited, SK Lubricants Co. Ltd.</b>
The asphalt, lubricating oil and grease market report table of contents includes:
1. Executive Summary
2.Asphalt, Lubricating Oil And Grease Market Characteristics
3. Asphalt, Lubricating Oil And Grease Market Trends And Strategies
4.Asphalt, Lubricating Oil And Grease market analysis
5.Asphalt, Lubricating Oil And Grease Market Size And Growth
6. Asphalt, Lubricating Oil And Grease Segmentation
7. Asphalt, Lubricating Oil And Grease Regional And Country Analysis
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27.Asphalt, Lubricating Oil And Grease Competitive Landscape And Company Profiles
28.Asphalt, Lubricating Oil And Grease Key Mergers And Acquisitions
29.Asphalt, Lubricating Oil And Grease Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Exxon Mobil
- Royal Dutch Shell
- Saudi Aramco
- BP plc
- Glencore International
- Guardian Industries LLC
- Owens Corning
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A recent report published by TheBusinessResearchCompany on Asphalt, Lubricating Oil And Grease Market provides in-depth analysis of segments and sub-segments in the global as well as regional.The Asphalt, Lubricating Oil And Grease Global Market Report 2019 which provides strategists, marketers and senior management with the critical information they need to assess the global asphalt, lubricating oil and grease market.The report covers the asphalt, lubricating oil and grease market’s segments- asphalt and other petroleum products.
Asphalt, Lubricating Oil And Grease Global Market Report 2019 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 50+ geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.It also compares the market’s historic and forecast growth.
It covers all the regions, key developed countries and major emerging markets.
It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.The use of recycled asphalt shingles (RAS) (a petroleum product which is a variation on traditional asphalt) in asphalt pavement is increasing rapidly as it significantly reduces costs and resources to lay asphalt pavements.
The Business Research Company’s Asphalt, Lubricating Oil And Grease Manufacturing Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.The Business Research Company published its Asphalt, Lubricating Oil And Grease Manufacturing Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global asphalt, lubricating oil and grease manufacturing market.
The report covers the Asphalt, Lubricating Oil And Grease Manufacturing market’s segments- asphalt, and other petroleum products.Read Full Report @ https://www.thebusinessresearchcompany.com/report/asphalt-lubricating-oil-and-grease-manufacturing-global-market-reportAsphalt, Lubricating Oil And Grease Manufacturing Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.The use of recycled asphalt shingles (RAS) (a petroleum product which is a variation on traditional asphalt) 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.
The Business Research Company published its Asphalt, Lubricating Oil And Grease Manufacturing Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global asphalt, lubricating oil and grease manufacturing market.
View Complete Report:https://www.thebusinessresearchcompany.com/report/asphalt-lubricating-oil-and-grease-manufacturing-global-market-report-2020-30-covid-19-impact-and-recoveryAsphalt, Lubricating Oil And Grease Manufacturing Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.The use of recycled asphalt shingles (RAS) (a petroleum product which is a variation on traditional asphalt) 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.
