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Asphalt


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Asphalt

US demand for asphalt is forecast to reach 148 million barrels in 2019 on annual growth of 3.3 percent. Gains will be boosted an increase in building construction spending, which will support demand for asphaltic building products, such as asphalt shingles and bituminous roofing membranes. Advances will also be supported by improving economic conditions that will encourage state and local governments to engage in infrastructure construction and maintenance spending, such as highway paving.

Paving Products Will Continue to Dominate Asphalt Demand
Products covered by the Asphalt study include:
Paving Products (e.g., asphalt cements, asphalt emulsions, cutback asphalts)
Roofing Products (e.g., asphalt shingles, bituminous membranes, mopping asphalts)
Other Products (e.g., additives for inks, coatings, drilling fluids)

Paving products accounted for the vast majority of asphalt products demand in 2014 and will continue to do so going forward. The US features an extensive network of highways, roads, and other paved surfaces (such as parking lots and airport runways), many of which use asphalt as their primary paving material. This network of roads and highways must undergo periodic repair and rehabilitation to ensure user safety and the efficient movement of goods.

Building Construction Activities Will Offer Best Growth Prospects
Markets (New and Improvement & Repair) analyzed in this study include:
Residential Building Construction
Nonresidential Building Construction
Non-building Construction
Non-construction

Non-building construction accounted for the largest share of asphalt demand in 2014. This is not surprising, given the extensive activity in the maintenance and repair of distressed highway and road networks. However, going forward, building construction activities will offer the more rapid growth prospects. Sharp increases in housing starts will drive demand for asphalt shingles and such related products as roofing felts, while increasing construction of retail and medical facilities will spur the construction of parking lots.

Highly Fragmented Market with Hundreds of Participants
The US asphalt industry comprises a broad range of firms and is highly fragmented. These include BP, ExxonMobil, Marathon Petroleum, NuStar, Valero Energy, CertainTeed, GAF Materials, Owens Corning, Colas, Oldcastle Materials, Summit Materials, and Vulcan Materials.

Scope of the Report
This report covers the scope, size, and growth of the US asphalt market including key trends in product usage and regional market analysis. Historical data is provided for 2004, 2009, and 2014 with forecasts for 2019 and 2024 with year by year historical market volatility also addressed. Demand is broken out by US region and sub region. Data is provided in value, volume and weight terms. For roofing products, area demand in squares is presented, while asphalt refining capacity is discussed in terms of daily production output. The study also includes an analysis of the industry key players and their market shares.


  • INTRODUCTION
  • EXECUTIVE SUMMARY
    • Table ASPHALT DEMAND
  • MARKET ENVIRONMENT
    • General
    • Macroeconomic Trends
      • Table MACROECONOMIC INDICATORS
    • Demographic Trends
      • Table POPULATION & HOUSEHOLDS
    • Construction Trends
      • Table CONSTRUCTION EXPENDITURES
      • Building Construction Trends
        • Table BUILDING CONSTRUCTION EXPENDITURES
        • Table RESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES
        • Table NEW HOUSING INDICATORS
        • Table HOUSING STOCK BY TYPE
        • Table CHART II-1 YEAR OF CONSTRUCTION OF HOUSING STOCK, 2014
        • Table RESIDENTIAL IMPROVEMENT & REPAIR EXPENDITURES
        • Table NONRESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES
        • Table NONRESIDENTIAL BUILDING IMPROVEMENT & REPAIR EXPENDITURES
      • Nonbuilding Construction
        • Table NONBUILDING CONSTRUCTION EXPENDITURES
        • Table US HIGHWAY MILEAGE
        • Table PUBLIC HIGHWAY SPENDING
    • Petroleum Industry Trends
      • Table REFINED PETROLEUM PRODUCTS CONSUMPTION & PRODUCTION
    • Asphalt Trends
      • Table ASPHALT MARKET, 2004-2014
      • Table CHART II-2 ASPHALT MARKET, 2005-2014
    • Asphalt Market Seasonality
      • Table CHART II-3 ASPHALT MARKET SEASONALITY
    • Asphalt Products Pricing Trends
      • Table ASPHALT PRODUCTS PRICING
      • Refined Asphalt Pricing
      • Asphalt Products Pricing
    • Competitive Products
      • Roofing
      • Paving
    • Foreign Trade
      • Primary Asphalt
      • Asphalt Products
        • Table ASPHALT PRODUCTS FOREIGN TRADE
  • ASPHALT OVERVIEW
    • General
    • Primary Asphalt
      • Crude Oil Feedstocks
      • Refining Capacity
    • Paving Methods
      • Hot-Mix Asphalt
      • Warm-Mix Asphalt
      • Hot- & Cold-Patch Methods
      • Other Asphalt Paving Methods
    • Paving Asphalt Product Developments
      • Superpave
      • Perpetual Pavements
      • Asphalt Pellets
      • Asphalt Modifiers
    • Asphalt Types Used in Roofing Products
    • Environmental Issues
      • Recycling
      • Emissions-Related Issues
    • Government Road Construction Activity
      • MAP-21
      • Highway Trust Fund
  • ASPHALT SUPPLY & DEMAND
    • General
      • Table CHART IV-1 REFINED ASPHALT FLOW CHART
    • Supply & Demand
      • Table ASPHALT SUPPLY & DEMAND
    • Asphalt Types
    • Asphalt Demand by Use
      • Table ASPHALT DEMAND BY USE
      • Table CHART IV-2 ASPHALT DEMAND BY USE, 2014
      • Paving Asphalts
        • Table PAVING DEMAND FOR ASPHALT
      • Roofing Asphalts
        • Table ROOFING DEMAND FOR ASPHALT
    • Other Asphalts
      • Table DEMAND FOR ASPHALT IN OTHER USES
  • ASPHALT PRODUCTS
    • General
      • Table ASPHALT PRODUCTS DEMAND
    • Demand Drivers
    • Paving Products
      • Table USE OF ASPHALT IN PAVING PRODUCTS
      • Table CHART V-1 USE OF ASPHALT IN PAVING PRODUCTS, 2014
      • Asphalt Cement
        • Table ASPHALT CEMENT
      • Asphalt Emulsions
        • Table ASPHALT EMULSIONS -- ASPHALT CONTENT
      • Cutback Asphalt
        • Table CUTBACK ASPHALT -- ASPHALT CONTENT
      • Other Asphalt Paving Products
        • Table OTHER ASPHALT PAVING PRODUCTS -- ASPHALT CONTENT
    • Roofing Products
      • Table USE OF ASPHALT IN ROOFING PRODUCTS
      • Table CHART V-2 USE OF ASPHALT IN ROOFING PRODUCTS, 2014
      • Asphalt Shingles
        • Table ASPHALT SHINGLES -- ASPHALT CONTENT
      • Modified Bitumen Roofing Membranes
        • Table MODIFIED BITUMEN ROOFING MEMBRANES -- ASPHALT CONTENT
      • Mopping Asphalts
        • Table MOPPING ASPHALT DEMAND
      • Standard Asphaltic Roofing Felts
        • Table STANDARD ASPHALT ROOFING FELTS -- ASPHALT CONTENT
      • Other Asphalt Roofing Products
        • Table OTHER ASPHALT ROOFING PRODUCTS -- ASPHALT CONTENT
    • Other Asphalt Products
      • Table ASPHALT CONTENT IN OTHER PRODUCTS
      • Construction Products
      • Nonconstruction Products
  • MARKETS
    • General
      • Table ASPHALT DEMAND BY MARKET
    • Construction
      • Table CONSTRUCTION DEMAND FOR ASPHALT BY MARKET & APPLICATION
      • Table CHART VI-1 CONSTRUCTION DEMAND FOR ASPHALT BY MARKET, 2014
      • Residential Building
        • Table RESIDENTIAL BUILDING MARKET FOR ASPHALT BY PRODUCT & APPLICATION
        • Table NEW RESIDENTIAL BUILDING MARKET FOR ASPHALT
        • Table RESIDENTIAL IMPROVEMENT & REPAIR ASPHALT DEMAND
      • Nonresidential Building
        • Table NONRESIDENTIAL BUILDING MARKET FOR ASPHALT BY PRODUCT & APPLICATION
        • Table NEW NONRESIDENTIAL BUILDING MARKET FOR ASPHALT
        • Table NONRESIDENTIAL BUILDING IMPROVEMENT & REPAIR MARKET FOR ASPHALT
      • Nonbuilding
        • Table NONBUILDING CONSTRUCTION MARKET FOR ASPHALT BY PRODUCT & APPLICATION
        • Table NEW NONBUILDING CONSTRUCTION MARKET FOR ASPHALT
        • Table NONBUILDING IMPROVEMENT & REPAIR MARKET FOR ASPHALT
    • Nonconstruction Markets
      • Table ASPHALT DEMAND IN NONCONSTRUCTION MARKETS
  • REGIONS
    • General
    • Regional Demographic & Economic Activity
      • Population Patterns
        • Table POPULATION BY REGION
      • Economic Outlook
        • Table GROSS DOMESTIC PRODUCT BY REGION
      • Construction Activity
        • Table CONSTRUCTION EXPENDITURES BY REGION
      • Housing Trends
        • Table REGIONAL HOUSING INDICATORS
    • Refined Asphalt Production by Region
      • Table US REFINED ASPHALT PRODUCTION BY REGION, 2014
      • Table CHART VII-1 US REFINED ASPHALT PRODUCTION BY REGION, 2014
    • Regional Asphalt Demand
      • Table ASPHALT DEMAND BY REGION & APPLICATION
      • Table CHART VII-2 ASPHALT DEMAND BY REGION, 2014
      • Northeast
        • Table NORTHEAST ASPHALT DEMAND BY SUBREGION & APPLICATION
        • Table NEW ENGLAND ASPHALT DEMAND
        • Table MIDDLE ATLANTIC ASPHALT DEMAND
      • Midwest
        • Table MIDWEST ASPHALT DEMAND BY SUBREGION & APPLICATION
        • Table EAST NORTH CENTRAL ASPHALT DEMAND
        • Table WEST NORTH CENTRAL ASPHALT DEMAND
      • South
        • Table SOUTH ASPHALT DEMAND BY SUBREGION & APPLICATION
        • Table SOUTH ATLANTIC ASPHALT DEMAND
        • Table EAST SOUTH CENTRAL ASPHALT DEMAND
        • Table WEST SOUTH CENTRAL ASPHALT DEMAND
      • West
        • Table WEST ASPHALT DEMAND BY SUBREGION & APPLICATION
        • Table MOUNTAIN ASPHALT DEMAND
        • Table PACIFIC ASPHALT DEMAND
  • INDUSTRY STRUCTURE
    • General
    • Industry Concentration
    • Refined Asphalt Capacity Share
      • Table US ASPHALT REFINING CAPACITY BY REFINER, 2014
    • Asphalt Paving Products Market Share
      • Table ASPHALT PAVING PRODUCTS MARKET LEADERS, 2014
      • Table CHART VIII-1 ASPHALT PAVING PRODUCTS MARKET SHARE, 2014
    • Asphalt Roofing Products Market Share
      • Table ASPHALT ROOFING PRODUCTS MARKET LEADERS, 2014
      • Table CHART VIII-2 ASPHALT ROOFING PRODUCTS MARKET SHARE, 2014
    • Manufacturing
    • Marketing & Distribution
    • Mergers & Acquisitions
      • Table SELECTED ACQUISITIONS & DIVESTITURES
    • Cooperative Agreements
      • Table SELECTED COOPERATIVE AGREEMENTS
    • Company Profiles
      • Alon USA Energy Incorporated
      • American Gilsonite Company
      • ArrMaz Custom Chemicals Incorporated
      • Axeon Specialty Products LLC
      • BASF SE
      • Berkshire Hathaway Incorporated
      • Bouygues SA
      • BP plc
      • Bridgestone Corporation
      • Building Materials Corporation of America
      • Calumet Specialty Products Partners LP
      • Chevron Corporation
      • CHS Incorporated
      • CRH plc
      • Delek US Holdings Incorporated
      • DuPont (EI) de Nemours
      • Ergon Incorporated
      • Exxon Mobil Corporation
      • Fortifiber Corporation
      • HeidelbergCement AG
      • Henry Company
      • HollyFrontier Corporation
      • Hood Companies
      • Hunt Consolidated Incorporated
      • Koch Industries Incorporated
      • LafargeHolcim Limited
      • Mapei SpA
      • Marathon Petroleum Corporation
      • NuStar Energy LP
      • Owens Corning
      • Phillips 66
      • Royal Dutch Shell plc
      • RPM International Incorporated
      • Saint-Gobain
      • Sinclair Oil Corporation
      • Summit Materials LLC
      • TAMKO Building Products Incorporated
      • UNIQUE Paving Materials Corporation
      • United Refining Company
      • Valero Energy Corporation
      • Vulcan Materials Company
      • Western Emulsions Incorporated
      • Ziegler Chemical & Mineral Corporation

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