The asphalt, lubricating oil and grease manufacturing market includes establishments manufacturing block, asphalt paving mixture, asphalt shingle, coating materials, petroleum lubricating oil and grease. Asphalt is a sticky, black and highly viscous liquid or semi-solid form of petroleum used for surfacing roads, flooring, and roofing.

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The global asphalt, lubricating, oil and grease manufacturing market has been declining in the past years with a CAGR of almost -12%. TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the decline claims.

The report also shows the global asphalt, lubricating, oil and grease manufacturing market to decline at a higher CAGR by 2021 as compared to 2017.

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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. Styrene-butadiene-styrene (SBS) and Styrene-butadiene rubber (SBR) are the most commonly used elastomers to produce PMA. For instance, the global PMA market grew by 7% during 2015-22, thus indicating high demand for PMA.

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Companies included in the report are Royal Dutch Shell, BP P.L.C., Gazprom Neft, CRH Plc, Owens Corning Sales LLC, Lafargeholcim Ltd, Valero, Imperial Oil Ltd, and Vulcan Materials Co.

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