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World Asphalt Market, Freedonia

  • November 2015
  • -
  • Freedonia
  • -
  • 411 pages

World demand to rise 2.8% annually through 2019

Through 2019, global demand for asphalt is projected to rise 2.8 percent per year to 122.5 million metric tons (742.5 million barrels). Gains will be driven by solid growth in consumption in China and other developing countries as they work to improve their transportation infrastructures. A rebound in demand in the US will also boost gains. Mature asphalt markets in higher income countries (many of which declined between 2009 and 2014) will recover, though in most cases demand will not regain 2009 levels until after 2019.

Asia/Pacific region to offer best growth opportunities

The Asia/Pacific region -- the largest regional market for asphalt in 2014 -- will record the fastest advances through 2019, driven primarily by strong growth in China and India. China, which surpassed the US as the world’s leading asphalt consumer in 2012, accounted for over 20 percent of the global market in 2014. However, growth in China will decelerate from the rapid gains of the 2009-2014 period as the country shifts its focus to repairing and maintaining current roadways rather than massively expanding the road network. Asphalt demand in India will benefit from large public works projects intended to support continued economic development. North America is a key asphalt consumer due to the need for maintenance on the massive regional network of roads and highways (nearly 90 percent of which is in the US). Asphalt demand in the US is forecast to rebound from sharp declines in the 2004-2014 period, driven by stronger economic growth and increased construction activity, and demand in 2019 is expected to exceed the 2009 level. The US is also a significant consumer of asphalt for roofing products, and demand for those products will rise with accelerating building construction expenditures.

Asphalt to gain market share in roofing segment

Paving products accounted for about four-fifths of global asphalt demand in 2014. Asphaltic concrete is favored over portland cement in most road paving applications for its noise reduction capabilities, relative speed of application, and lower cost. However, in the global roofing market, asphalt products compete with other materials including tile, metal, and fiber cement. While asphalt roofing products dominate in the US and Canada, they hold only a small share of the total roofing market in most other countries. Nevertheless, increasing use of bituminous membranes and asphalt shingles in many countries -- especially in China, where they make up a growing share of the country’s large roofing market -- will drive roofing asphalt gains.

Study coverage

This upcoming industry study, World Asphalt (Bitumen), presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by product for six world regions and 18 major countries. This study also considers market environment factors, evaluates company market share and profiles 44 global industry players.

Table Of Contents

World Asphalt Market, Freedonia
TABLE OF CONTENTS
INTRODUCTION xi
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
World Demographic Overview 5
Population 5
Households 7
World Economic Overview 9
Recent Historical Trends 10
World Economic Outlook 11
World Construction Overview 14
Building Construction 17
Residential Buildings 20
Nonresidential Buildings 23
Nonbuilding Construction 25
Paved Roads Overview 27
World Crude Petroleum Outlook 29
World Refining Outlook 31
Environmental and Regulatory Issues 34
Recycling 36
Legal and Legislative Issues 38
Technology Trends 43
Asphalt Paving Mixtures 44
Asphalt Roofing Products 51
III. OVERVIEW 53
General 53
Asphalt Demand by Region 53
Asphalt Demand by Product 57
Paving Products 60
Roofing Products 65
Other Asphalt Products 67
Relationship of Primary Asphalt to Asphalt Products 69
Primary Asphalt Demand by Region 72
Primary Asphalt Production by Region 74
International Trade in Primary Asphalt 76
Asphalt Demand and Economic Activity 79
IV. NORTH AMERICA 83
Market Environment 83
Asphalt Supply and Demand 84
Asphalt Demand by Product 87
United States 90
Canada 96
Mexico 102
V. WESTERN EUROPE 108
Market Environment 108
Asphalt Supply and Demand 109
Asphalt Demand by Product 113
France 116
Germany 122
United Kingdom 128
Italy 135
Spain 141
Other Western Europe 146
VI. ASIA/PACIFIC 157
Market Environment 157
Asphalt Supply and Demand 158
Asphalt Demand by Product 161
China 164
India 172
Japan 178
Indonesia 184
South Korea 190
Australia 196
Other Asia/Pacific 200
VII. OTHER REGIONS 208
Central and South America 208
Market Environment 208
Asphalt Supply and Demand 209
Asphalt Demand by Product 212
Brazil 215
Other Central and South America 220
Eastern Europe 228
Market Environment 228
Asphalt Supply and Demand 229
Asphalt Demand by Product 231
Russia 234
Poland 239
Other Eastern Europe 244
Africa/Mideast 252
Market Environment 252
Asphalt Supply and Demand 253
Asphalt Demand by Product 256
Turkey 259
Other Africa/Mideast 264
VIII. INDUSTRY STRUCTURE 274
General 274
Market Share 275
Primary Asphalt Market Leaders 275
Paving Asphalt Market Leaders 281
Roofing Asphalt Market Leaders 284
Acquisitions and Divestitures 287
Cooperative Agreements 290
Marketing and Distribution 293
Manufacturing 295
Product Development 296
Company Profiles 299
Al Futtaim Tarmac Quarry Products, see CRH
Anglo American plc 300
APAC Atlantic, see CRH
ATAB, see IKO Group
Barrett Paving Materials, see Bouygues
Berkshire Hathaway Incorporated 301
Bouygues SA 303
BP plc 310
Branscome Companies, see Bouygues
Building Materials Corporation of America 313
CEMEX SAB de CV 316
CertainTeed, see Saint-Gobain
Chevron Corporation 318
China National Offshore Oil Corporation 320
China National Petroleum Corporation 322
China Petroleum and Chemical Corporation 324
Colas, see Bouygues
ConocoPhillips 327
CRH plc 328
Dalian West Pacific Petrochemical, see China National
Petroleum and Total
Deer Park Refinery Partnership, see Petróleos Mexicanos
and Royal Dutch Shell
Eastham Refinery, see Neste Oil, Petroleos de Venezuela,
and Royal Dutch Shell
Ennis-Flint 339
Exxon Mobil Corporation 341
GAF Materials, see Building Materials of America
Hanson, see HeidelbergCement
HeidelbergCement AG 345
Icopal a/s 348
IKO Group 352
Imperial Oil, see Exxon Mobil
Indian Oil Corporation Limited 356
Ingevity, see WestRock
Jiangsu Baoli International Investment Company 357
Johns Manville, see Berkshire Hathaway
JX Holdings Incorporated 360
Kukdong Oil and Chemicals Company Limited 361
Lafarge Tarmac, see CRH
LafargeHolcim Limited 363
Mapei SpA 365
Marathon Petroleum Corporation 367
Michigan Paving and Materials, see CRH
Neste Oil Oyj 369
NOE, see JX Holdings
NuStar Energy LP 371
Nynas, see Neste Oil and Petróleos de Venezuela
Oldcastle Materials, see CRH
Onduline SA 373
Owens Corning 375
Perusahaan Pertambangan Minyak Dan Gas Bumi Negara 378
PetroChina, see China National Petroleum
Petróleo Brasileiro SA 379
Petróleos de Venezuela SA 380
Petróleos Mexicanos SA 383
Phillips 66 384
Polyglass, see Mapei
Reeves Construction, see Bouygues
Repsol SA 386
Royal Dutch Shell plc 388
Saint-Gobain 393
SAPREF, see BP and Royal Dutch Shell
SemGroup Corporation 396
SemMaterials Mexico S de RL, see SemGroup
Shell Bitumen, see Royal Dutch Shell
Showa Shell Sekiyu KK, see Royal Dutch Shell
Sinopec, see China Petroleum and Chemical
Soprema SAS 398
STRABAG SE 400
Tarmac Holdings, see CRH
Tiki Tar Industries 402
Tilcon Connecticut, see CRH
Tipco Asphalt Public, see Bouygues
TonenGeneral Sekiyu KK, see Exxon Mobil
Total SA 404
Trumball Asphalt, see Owens Corning
Valero Energy Corporation 406
Veidekke ASA 408
WestRock Company 410

LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 World Population by Region 7
2 World Households by Region 9
3 World Gross Domestic Product by Region 14
4 World Construction Expenditures by Region 17
5 World Building Construction Expenditures by Region 20
6 World Residential Building Construction Expenditures
by Region 23
7 World Nonresidential Building Construction Expenditures by
Region 25
8 World Nonbuilding Construction Expenditures by Region 27
9 World Paved Roads by Region 29
10 World Crude Petroleum Production by Region 31
11 World Refined Petroleum Product Output by Region 34
SECTION III -- OVERVIEW
1 World Asphalt Demand by Region 56
2 World Asphalt Demand by Product 59
3 World Asphalt Demand in Paving Products 64
4 World Asphalt Demand in Roofing Products 67
5 World Asphalt Demand in Other Products 69
6 World Primary Asphalt Demand by Region 74
7 World Primary Asphalt Production by Region 76
8 World Primary Asphalt Trade Flows 79
SECTION IV -- NORTH AMERICA
1 North America: Asphalt Supply and Demand 86
2 North America: Asphalt Demand by Product 89
3 United States: Asphalt Supply and Demand 93
4 United States: Asphalt Demand by Product 96
5 Canada: Asphalt Supply and Demand 100
6 Canada: Asphalt Demand by Product 102
7 Mexico: Asphalt Supply and Demand 105
8 Mexico: Asphalt Demand by Product 107
SECTION V -- WESTERN EUROPE
1 Western Europe: Asphalt Supply and Demand 112
2 Western Europe: Asphalt Demand by Product 115
3 France: Asphalt Supply and Demand 119
4 France: Asphalt Demand by Product 122
5 Germany: Asphalt Supply and Demand 125
6 Germany: Asphalt Demand by Product 128
7 United Kingdom: Asphalt Supply and Demand 132
8 United Kingdom: Asphalt Demand by Product 134
9 Italy: Asphalt Supply and Demand 138
10 Italy: Asphalt Demand by Product 140
11 Spain: Asphalt Supply and Demand 144
12 Spain: Asphalt Demand by Product 146
13 Other Western Europe: Asphalt Supply and Demand 150
14 Other Western Europe: Asphalt Demand by Product 152
15 Other Western Europe: Asphalt Demand by Country 153
SECTION VI -- ASIA/PACIFIC
1 Asia/Pacific: Asphalt Supply and Demand 160
2 Asia/Pacific: Asphalt Demand by Product 163
3 China: Asphalt Supply and Demand 168
4 China: Asphalt Demand by Product 171
5 India: Asphalt Supply and Demand 175
6 India: Asphalt Demand by Product 178
7 Japan: Asphalt Roofing Supply and Demand 181
8 Japan: Asphalt Demand by Product 184
9 Indonesia: Asphalt Supply and Demand 187
10 Indonesia: Asphalt Demand by Product 190
11 South Korea: Asphalt Supply and Demand 193
12 South Korea: Asphalt Demand by Product 195
13 Australia: Asphalt Supply and Demand 198
14 Australia: Asphalt Demand by Product 200
15 Other Asia/Pacific: Asphalt Supply and Demand 203
16 Other Asia/Pacific: Asphalt Demand by Product 205
17 Other Asia/Pacific: Asphalt Demand by Country 206
SECTION VII -- OTHER REGIONS
1 Central and South America: Asphalt Supply and Demand 211
2 Central and South America: Asphalt Demand by Product 214
3 Brazil: Asphalt Supply and Demand 218
4 Brazil: Asphalt Demand by Product 220
5 Other Central and South America: Asphalt Supply and Demand 223
6 Other Central and South America: Asphalt Demand by Product 225
7 Other Central and South America: Asphalt Demand by Country 226
8 Eastern Europe: Asphalt Supply and Demand 230
9 Eastern Europe: Asphalt Demand by Product 233
10 Russia: Asphalt Supply and Demand 237
11 Russia: Asphalt Demand by Product 239
12 Poland: Asphalt Supply and Demand 242
13 Poland: Asphalt Demand by Product 244
14 Other Eastern Europe: Asphalt Supply and Demand 247
15 Other Eastern Europe: Asphalt Demand by Product 249
16 Other Eastern Europe: Asphalt Demand by Country 250
17 Africa/Mideast: Asphalt Supply and Demand 255
18 Africa/Mideast: Asphalt Demand by Product 258
19 Turkey: Asphalt Supply and Demand 262
20 Turkey: Asphalt Demand by Product 264
21 Other Africa/Mideast: Asphalt Supply and Demand 267
22 Other Africa/Mideast: Asphalt Demand by Product 269
23 Other Africa/Mideast: Asphalt Demand by Country 270
SECTION VIII -- INDUSTRY STRUCTURE
1 Selected Acquisitions and Divestitures 289
2 Selected Cooperative Agreements 291

LIST OF CHARTS
SECTION III -- OVERVIEW
1 World Asphalt Demand by Region, 2014 57
2 World Asphalt Demand by Product, 2014 60
3 Primary Asphalt Flow Chart 71
4 Per Capita Asphalt Demand and Per Capita Gross Domestic
Product Relationship, 2014 82
SECTION IV -- NORTH AMERICA
1 North America: Asphalt Demand by Country, 2014 87
2 North America: Asphalt Demand by Product, 2014 90
SECTION V -- WESTERN EUROPE
1 Western Europe: Asphalt Demand by Country, 2014 113
2 Western Europe: Asphalt Demand by Product, 2014 116
SECTION VI -- ASIA/PACIFIC
1 Asia/Pacific: Asphalt Demand by Country, 2014 161
2 Asia/Pacific: Asphalt Demand by Product, 2014 164
SECTION VII -- OTHER REGIONS
1 Central and South America: Asphalt Demand by Country, 2014 212
2 Central and South America: Asphalt Demand by Product, 2014 215
3 Eastern Europe: Asphalt Demand by Country, 2014 231
4 Eastern Europe: Asphalt Demand by Product, 2014 234
5 Africa/Mideast: Asphalt Demand by Country, 2014 256
6 Africa/Mideast: Asphalt Demand by Product, 2014 259
SECTION VIII -- INDUSTRY STRUCTURE
1 World Primary Asphalt Capacity Share, 2014 278
2 World Paving Asphalt Market Share, 2014 283
3 World Asphalt Roofing Market Share, 2014 285

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