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Global Petroleum Asphalt Market is s expected to reach USD 77.67 Billion by2024

Author: QYResearch | Publish date: 2018-05-30 | Views: 55
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. The global Petroleum Asphalt market is valued at USD 48.8 Billion in 2017 and is expected to reach USD 77.67 Billion by the end of 2024, growing at a Growth Rate of 6.87% between 2017 and 2024. In terms of volume, the global Petroleum Asphalt Production was 169.66 M MT in 2017, and it is predicted to reach 242.6 M MT in 2024.

The main players are ExxonMobil, Shell, Cnooc, Sinopec, ConocoPhillips, Marathon Oil and Pasargad Oil Company.


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. 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.

 

Overall economic performance will continue to be the best indicator of future demand for petroleum asphalt. Demand in most downstream markets is greatly influenced by general economic conditions. As a result, demand largely follows the patterns of the leading world economies.

 

The Global Petroleum Asphalt Market Research Report 2018 report released by QYResearch provides a basic overview of the petroleum asphalt industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.

 

The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the petroleum asphalt industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.

 

This research study involved the extensive usage of both primary and secondary data sources.  The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges.

 


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