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Asphalt, Lubricating Oil and Grease Market Precise Outlook 2020- Royal Dutch Shell, BP PLC, Gazprom Neft, CRH Plc, Owens Corning Sales LLC

 

Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- The report titled "Asphalt, Lubricating Oil And Grease Market" has recently added by MarketInsightsReports to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.

The global asphalt, lubricating oil and grease market is expected to decline from $338 billion in 2019 to $195.9 billion in 2020 at a compound annual growth rate (CAGR) of -42.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9% from 2021 and reach $249.6 billion in 2023.

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Top Companies in the Global Asphalt, Lubricating Oil And Grease Market: Royal Dutch Shell; BP PLC; Gazprom Neft; CRH Plc; Owens Corning Sales LLC and Other

Markets Covered:
1) By Type: Asphalt; Other Petroleum Products
2) By End Use Industries: Power Generation; Transport; Metallurgy & Metalworking; Food & Beverage; Chemical; Others

North America was the largest region in the global asphalt, lubricating oil and grease market, accounting for 36% of the market in 2019. Asia Pacific was the second largest region accounting for 25% of the global asphalt, lubricating oil and grease market. Africa was the smallest region in the global asphalt, lubricating oil and grease market.

The use of recycled asphalt shingles (RAS) (a petroleum product which is a variation on traditional asphalt) in asphalt pavement is increasing rapidly as it significantly reduces costs and resources to lay asphalt pavements. Shingle recycling involves collecting asphalt shingles from roof tear-offs and recycling to produce related products. Shingles constitute about 25%-30% asphalt cement, 40%-60% hard aggregate present in 30 to 60 sieves and 3%-12% fiber which are used in asphalt pavements. Recycled shingles reduces the need for landfills and reclaims resources such as asphalt binder and fine aggregate. For instance, according to the US Environmental Protection Agency and the Federal Highway Administration about 100% of asphalt pavement is recycled, thus indicating high levels of asphalt reclamation.

The asphalt, lubricating oil and grease market consists of sales of asphalt, lubricating oil and grease by entities (organizations, sole traders or partnerships) that produce block asphalt, 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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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Asphalt, Lubricating Oil And Grease Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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