Asphalt is a sticky black highly viscous
liquid or semi-solid form of petroleum used for surfacing roads flooring&
roofing, also known as bitumen. Polymer modified asphalt (PMA) is one form of
traditional asphalt which is fixed at comparatively low temperatures and
maintain surface granules better compared to standard granules. Asphalts are
mixed with elastomers to create PMA which has privileged rutting resistance and
durability. Styrene-butadiene rubber (SBR) and Styrene-butadiene-styrene (SBS)
are the most commonly used elastomers to produce PMA.
Lubricating oil is thick fatty oil used for
making parts of machine to make them move smoothly. The oil creates a separate
film between surfaces of the closest moving parts to minimize the direct
contact and decrease in heat caused by friction & reducing wear.
According to study, “Asphalt,
Lubricating Oil And Grease Manufacturing Global Market Report 2019” the
key companies operating in the global asphalt, lubricating oil and grease
manufacturing market are Royal Dutch Shell Plc, Gazprom Neft, BP PLC (Castrol
Ltd.), Owens Corning Sales LLC,CRH Plc., Chevron U.S.A. Inc., Bharat Petroleum
Corporation Limited, China Petrochemical Corp. (Sinopec), Gulf Oil Lubricants
India, Indian Oil Corp. Ltd., Exxon Mobil Corp., Lafargeholcim Ltd., HPCL,
Imperial Oil Ltd, Valero, FUCHS, Vulcan Materials Co., Amsoil Inc., BASF SE,
Blaser Swisslube AG, Bechem, Caltex Australia Group, China National Petroleum
Corporation (PetroChina), Chemtura Corporation, Eni SpA, Gulf Oil Corporation Limited,
Gazprom Neft PJSC, Idemitsu Kosan Co. Ltd, ITW (ROCOL), Indian Oil Corporation
Ltd, JX Nippon Oil & Energy Corporation, Lukoil Lubricants Company, Kluber
Lubrication, Pertamina, Motul, Petrofer Chemie H. R. Fischer GmbH + Co. KG,
Petrobras, Phillips 66 Lubricants, Petronas Lubricants International, Repsol,
Tide Water Oil Co. (India) Ltd, SK Lubricants, Valvoline LLC, Total Lubricants,
Kluber Lubrication, Shell, Panama Petrochem Ltd.
Based on product type, the asphalt,
lubricating oil and grease manufacturing market is segmented into engine oil,
metalworking fluid, transmission & hydraulic fluid, general industrial oil,
grease, gear oil, process oil and others. Based on thickeners, market is
segmented into metal soaps and other thickeners. Based on base stock, market is
segmented into bio-based lubricant, synthetic lubricant and mineral oil
lubricant. In addition, based on end-use industries, market is segmented into
power generation, heavy equipment, automotive & other transport, metallurgy
& metalworking, food & beverage, chemical manufacturing and other
end-user industries (packaging and oil &gas (drilling fluids)).
The global asphalt, lubricating oil and grease
manufacturing market is driven by increase in construction and infrastructure
activities, followed by rise in automotive industry, increase in usage of
high-performance lubricants & greases, expansion of the global cold chain
market and rise in demand from the growing wind energy sector. However,
increase over the geo-political issues and rise in cost of oil extraction may
impact the growth of market. Moreover, few of opportunities supporting the
market growth include increase in mining operations, rise in prominence for
bio-lubricants, emergent emphasis on environment friendly buildings and increase
in demand for re-refined lubricants.
Based on geography, Asia-Pacific region holds
the major market share in asphalt, lubricating oil and grease manufacturing
market owing to rise in demand from the wind energy sector. North-American
region is expected to hold major market due to augment in vehicular production
along with the increase in construction& infrastructure activities in the
region over the forecast period. It is anticipated that over the forecast
period market it is expected that increase in demand for petroleum products in
the developing countries is expected to support the market growth over the
forecast period.
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