Asphalt, Lubricating Oil And Grease Manufacturing Market Value is Expected to Reach $249.6 Billion by 2023 | Covid 19 Impact And Recovery

The Business Research Company offers "Asphalt, Lubricating Oil And Grease Global Market Report 2020-30: Covid 19 Impact And Recovery" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market’s historic and forecast growth, and highlights important trends and strategies that players in the market can adopt.

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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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.

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.

Asphalt, Lubricating Oil And Grease Manufacturing Market Segmentation: -
By Type
Asphalt
Other Petroleum Products

By End Use Industries
Power Generation
Transport
Metallurgy & Metalworking
Food & Beverage
Chemical
Others

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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Asphalt, Lubricating Oil And Grease Manufacturing Market Characteristics
4. Asphalt, Lubricating Oil And Grease Manufacturing Market Product Analysis
5. Asphalt, Lubricating Oil And Grease Manufacturing Market Supply Chain
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21. Key Mergers And Acquisitions In The Asphalt, Lubricating Oil And Grease Manufacturing Market
22. Market Background: Oil Downstream Activities Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer

The report covers the trends and market dynamics of the Asphalt, Lubricating Oil And Grease Manufacturing Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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Some of the key players involved in the Asphalt, Lubricating Oil And Grease Manufacturing Market are Royal Dutch Shell; BP PLC; Gazprom Neft; CRH Plc; Owens Corning Sales LLC

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