Asphalt

  • ID: 4533219
  • Report
  • 396 Pages
  • The Freedonia Group
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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.
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INTRODUCTION
I. EXECUTIVE SUMMARY
II. MARKET ENVIRONMENT
General
Macroeconomic Trends
Demographic Trends
Construction Trends
Building Construction Trends
Residential Buildings
Housing Starts
Housing Stock
Improvements & Repairs
Nonresidential Buildings
New Construction
Improvements & Repairs
Nonbuilding Construction
Highway Mileage
Public Highway Spending
Petroleum Industry Trends
Asphalt Trends
Asphalt Market Seasonality
Asphalt Products Pricing Trends
Refined Asphalt Pricing
Asphalt Products Pricing
Competitive Products
Roofing
Paving
Foreign Trade
Primary Asphalt
Asphalt Products
III. 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
Bituminous Surface Treatment
Thin Membrane Surface Treatment
Granular Pavement
Composite Pavements
Open Grade Friction Courses
High-Friction Surface Treatments
Stone-Matrix Asphalt
Low Energy Asphalt
Intelligent Compaction
Paving Asphalt Product Developments
Superpave
Perpetual Pavements
Asphalt Pellets
Asphalt Modifiers
Asphalt Types Used in Roofing Products
Environmental Issues
Recycling
Recycled Asphalt Pavement
Recycled Asphalt Shingles
Crumb Rubber & Other Additives
Crumb Rubber
Foundry Slag
Fly Ash
Fiber Reinforcements
Emissions-Related Issues
Government Road Construction Activity
MAP-21
Highway Trust Fund
IV. ASPHALT SUPPLY & DEMAND
General
Supply & Demand
Asphalt Types
Asphalt Demand by Use
Paving Asphalts
Asphalt Cement
Asphalt Emulsions
Cutback Asphalt
Other Paving Asphalts
Roofing Asphalts
Other Asphalts
V. ASPHALT PRODUCTS
General
Demand Drivers
Paving Products
Asphalt Cement
Asphalt Emulsions
Cutback Asphalt
Other Asphalt Paving Products
Roofing Products
Asphalt Shingles
Modified Bitumen Roofing Membranes
Mopping Asphalts
Standard Asphaltic Roofing Felts
Other Asphalt Roofing Products
Other Asphalt Products
Construction Products
Nonconstruction Products
VI. MARKETS
General
Construction
Residential Building
New
Improvement & Repair
Nonresidential Building
New
Improvement & Repair
Nonbuilding
New
Improvement & Repair
Nonconstruction Markets
VII. REGIONS
General
Regional Demographic & Economic Activity
Population Patterns
Economic Outlook
Construction Activity
Housing Trends
Refined Asphalt Production by Region
Regional Asphalt Demand
Northeast
New England
Middle Atlantic
Midwest
East North Central
West North Central
South
South Atlantic
East South Central
West South Central
West
Mountain
Pacific
VIII. INDUSTRY STRUCTURE
General
Industry Concentration
Refined Asphalt Capacity Share
Asphalt Paving Products Market Share
Asphalt Roofing Products Market Share
Manufacturing
Marketing & Distribution
Mergers & Acquisitions
Cooperative Agreements
Company Profiles
Alon USA Energy Incorporated
American Gilsonite Company
APAC-Texas, see CRH
ArrMaz Custom Chemicals Incorporated
Atlas Roofing, see Hood Companies
Axeon Specialty Products LLC
Barrett Paving Materials, see Bouygues
BASF SE
Berkshire Hathaway Incorporated
Bouygues SA
BP plc
Branscome Companies, see Bouygues
Bridgestone Corporation
Building Materials Corporation of America
Callanan Industries, see CRH
Calumet Specialty Products Partners LP
CertainTeed, see Saint-Gobain
Chalmette Refining, see Exxon Mobil
Chevron Corporation
CHS Incorporated
Colas, see Bouygues
Colaska, see Bouygues
Cornejo & Sons, see Summit Materials
Crafco, see Ergon
CRH plc
DAP Products, see RPM International
Delek US Holdings Incorporated
Delta Companies, see Bouygues
Des Moines Asphalt and Paving, see CRH
Dolomite Group, see CRH
DuPont (EI) de Nemours
Ergon Incorporated
Euclid Chemical, see RPM International
Eugene Sand & Gravel, see CRH
Evans Construction, see CRH
Exxon Mobil Corporation
Firestone Building Products, see Bridgestone
Flint Hills Resources, see Koch Industries
Fortifiber Corporation
GAF, see Building Materials of America
GuardTop, see Western Emulsions
Hamilton-Hinkle Paving, see Summit Materials
Hamm, see Summit Materials
HeidelbergCement AG
Henry Company
Hinkle Contracting, see Summit Materials
HollyFrontier Corporation
Hood Companies
Hunt Consolidated Incorporated
ICON Materials, see CRH
Imperial Oil, see Exxon Mobil
Inland Asphalt, see CRH
Johns Manville, see Berkshire Hathaway
Koch Industries Incorporated
LafargeHolcim Limited
Lehigh Hanson, see HeidelbergCement
Lion Oil, see Delek US Holdings
Mapei SpA
Marathon Petroleum Corporation
Michigan Paving & Materials, see CRH
MidSouth Paving, see CRH
NK Asphalt Partners, see HollyFrontier
NuStar Energy LP
Ohio Valley Asphalt, see Summit Materials
Oldcastle Materials, see CRH
Owens Corning
Pennsy Supply, see CRH
Phillips 66
Pike Industries, see CRH
PJ Keating, see CRH
Preferred Materials, see CRH
Reeves Construction, see Bouygues
Republic Powdered Metals, see RPM International
RK Hall Construction, see Summit Materials
Royal Dutch Shell plc
RPM International Incorporated
Saint-Gobain
Shell Oil, see Royal Dutch Shell
Shelly, see CRH
Sinclair Oil Corporation
Sloan Construction, see Bouygues
Staker Parsons Companies, see CRH
Summit Materials LLC
TAMKO Building Products Incorporated
Tilcon Connecticut, see CRH
Tremco, see RPM International
Tricor Refining, see Ergon
Trumbull Asphalt, see Owens Corning
UNIQUE Paving Materials Corporation
United Refining Company
Valero Energy Corporation
Vulcan Materials Company
Weatherproofing Technologies, see RPM International
Western Emulsions Incorporated
WRB Refining, see Phillips 66
Wright Asphalt Products, see Alon USA Energy
Ziegler Chemical & Mineral Corporation
LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
Summary Table
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators
2 Population & Households
3 Construction Expenditures
4 Building Construction Expenditures
5 Residential Building Construction Expenditures
6 New Housing Indicators
7 Housing Stock by Type
8 Residential Improvement & Repair Expenditures
9 Nonresidential Building Construction Expenditures
10 Nonresidential Building Improvement & Repair Expenditures
11 Nonbuilding Construction Expenditures
12 US Highway Mileage
13 Public Highway Spending
14 Refined Petroleum Products Consumption & Production
15 Asphalt Market, 2004-2014
16 Asphalt Products Pricing
17 Asphalt Products Foreign Trade
SECTION IV -- ASPHALT SUPPLY & DEMAND
1 Asphalt Supply & Demand
2 Asphalt Demand by Use
3 Paving Demand for Asphalt
4 Roofing Demand for Asphalt
5 Demand for Asphalt in Other Uses
SECTION V -- ASPHALT PRODUCTS
1 Asphalt Products Demand
2 Use of Asphalt in Paving Products
3 Asphalt Cement
4 Asphalt Emulsions -- Asphalt Content
5 Cutback Asphalt -- Asphalt Content
6 Other Asphalt Paving Products -- Asphalt Content
7 Use of Asphalt in Roofing Products
8 Asphalt Shingles -- Asphalt Content
9 Modified Bitumen Roofing Membranes -- Asphalt Content
10 Mopping Asphalt Demand
11 Standard Asphalt Roofing Felts -- Asphalt Content
12 Other Asphalt Roofing Products -- Asphalt Content
13 Asphalt Content in Other Products
SECTION VI -- MARKETS
1 Asphalt Demand by Market
2 Construction Demand for Asphalt by Market & Application
3 Residential Building Market for Asphalt by Product & Application
4 New Residential Building Market for Asphalt
5 Residential Improvement & Repair Asphalt Demand
6 Nonresidential Building Market for Asphalt by Product & Application
7 New Nonresidential Building Market for Asphalt
8 Nonresidential Building Improvement & Repair Market for Asphalt
9 Nonbuilding Construction Market for Asphalt by Product & Application
10 New Nonbuilding Construction Market for Asphalt
11 Nonbuilding Improvement & Repair Market for Asphalt
12 Asphalt Demand in Nonconstruction Markets
SECTION VII -- REGIONS
1 Population by Region
2 Gross Domestic Product by Region
3 Construction Expenditures by Region
4 Regional Housing Indicators
5 US Refined Asphalt Production by Region, 2014
6 Asphalt Demand by Region & Application
7 Northeast Asphalt Demand by Subregion & Application
8 New England Asphalt Demand
9 Middle Atlantic Asphalt Demand
10 Midwest Asphalt Demand by Subregion & Application
11 East North Central Asphalt Demand
12 West North Central Asphalt Demand
13 South Asphalt Demand by Subregion & Application
14 South Atlantic Asphalt Demand
15 East South Central Asphalt Demand
16 West South Central Asphalt Demand
17 West Asphalt Demand by Subregion & Application
18 Mountain Asphalt Demand
19 Pacific Asphalt Demand
SECTION VIII -- INDUSTRY STRUCTURE
1 US Asphalt Refining Capacity by Refiner, 2014
2 Asphalt Paving Products Market Leaders, 2014
3 Asphalt Roofing Products Market Leaders, 2014
4 Selected Acquisitions & Divestitures
5 Selected Cooperative Agreements
LIST OF CHARTS
SECTION II -- MARKET ENVIRONMENT
1 Year of Construction of Housing Stock, 2014
2 Asphalt Market, 2005-2014
3 Asphalt Market Seasonality
SECTION IV -- ASPHALT SUPPLY & DEMAND
1 Refined Asphalt Flow Chart
2 Asphalt Demand by Use, 2014
SECTION V -- ASPHALT PRODUCTS
1 Use of Asphalt in Paving Products, 2014
2 Use of Asphalt in Roofing Products, 2014
SECTION VI -- MARKETS
1 Construction Demand for Asphalt by Market, 2014
SECTION VII -- REGIONS
1 US Refined Asphalt Production by Region, 2014
2 Asphalt Demand by Region, 2014
SECTION VIII -- INDUSTRY STRUCTURE
1 Asphalt Paving Products Market Share, 2014
2 Asphalt Roofing Products Market Share, 2014
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