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Study #: 2544 Published: 10/2009 Pages: 333 Full Study Price: US$ 4,800 Per Page Price: US$ 30.00 Asphalt to 2013 - Market Research, Market Share, Market Size, Sales, Demand Forecast, Market Leaders, Company Profiles, Industry Trends US consumption of asphalt products will reach 30.8 million tons in 2013. Demand gains will derive primarily from the recovery of new residential construction from its weak 2008 levels, benefiting both roofing and paving products. The dominant paving product segment will benefit from increased government spending on highway and road construction. This study analyzes the US asphalt product industry. It presents historical demand data for the years 1998, 2003 and 2008, and forecasts for 2013 and 2018 by asphalt product (e.g., cement, emulsions, cutback, shingles, roofing, modified roofing membranes, standard roofing felts), market (e.g., construction, nonconstruction) and US region. The study also considers market environment factors, details industry structure, evaluates company market share and profiles 42 industry players, including Valero Energy, Marathon Petroleum and NuStar Energy.
TABLE OF CONTENTS
SECTION PAGE
INTRODUCTION xi
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Macroeconomic Environment 5
Demographic Trends 10
Construction Trends 13
Building Construction 17
Residential Construction 20
Housing Starts 23
Housing Stock 28
Improvements & Repairs 32
Nonresidential Construction 34
Office & Commercial 37
Institutional 38
Industrial 39
Transportation & Other Buildings 39
Improvements & Repairs 40
Nonbuilding Construction 41
Highway Mileage 43
Public Highway Spending 44
Petroleum Industry Trends 47
Primary Asphalt Market Trends 50
Primary Asphalt Market Seasonality 52
Asphalt Products Pricing Trends 53
Competitive Materials 57
Foreign Trade 58
Primary Asphalt 59
Asphalt Products 61
III. TECHNOLOGY & REGULATORY ISSUES 63
General 63
Technology 63
Paving Technologies 64
Hot-Mix Asphalt 64
Asphalt Patch Technologies 65
Bituminous Surface Treatment 65
Thin Membrane Surface Treatment 66
Granular Pavement 66
Composite Pavements 66
Open Grade Friction Courses 67
Stone-Matrix Asphalt 68
Warm-Mix Asphalt Paving 68
Low Energy Asphalt 70
Superpave 71
Perpetual Pavements 72
Competing Paving Technologies 73
Asphalt Modifiers 74
Roofing Asphalt Technologies 75
Environmental & Regulatory Issues 76
Recycling 77
Environmental Issues 80
Government Road Construction Funding 83
IV. PRIMARY ASPHALT SUPPLY & DEMAND 86
General 86
Supply & Demand 89
Primary Asphalt Types 90
Primary Asphalt Demand by Use 92
Paving Asphalts 94
Asphalt Cement 96
Asphalt Emulsions 97
Cutback Asphalt 97
Other Paving Products 97
Roofing Asphalts 98
Other Asphalts 100
V. ASPHALT PRODUCTS 101
General 101
Demand Drivers 105
Paving Products 107
Asphalt Cement 110
Asphalt Emulsions 113
Cutback Asphalt 116
Other Asphalt Paving Products 118
Roofing Products 121
Asphalt Shingles 124
Roofing Asphalts 127
Modified Asphalt Roofing Membranes 130
Standard Asphaltic Roofing Felts 134
Other Asphalt Roofing Products 138
Other Asphalt Products 140
Construction Products 141
Nonconstruction Products 144
VI. MARKETS 146
General 146
Construction 147
Residential Building 151
New 154
Improvement & Repair 156
Nonresidential Building 159
New 162
Improvement & Repair 163
Nonbuilding 165
New 167
Improvement & Repair 169
Nonconstruction Markets 171
VII. REGIONS 174
General 174
Macroeconomic Overview 175
Demographic Trends 178
Construction Trends 180
Housing Trends 182
Primary Asphalt Capacity by Region 184
Regional Asphalt Demand 188
Northeast 190
New England 192
Middle Atlantic 194
Midwest 196
East North Central 197
West North Central 199
South 202
South Atlantic 204
East South Central 207
West South Central 208
West 210
Mountain 212
Pacific 214
VIII. INDUSTRY STRUCTURE 218
General 218
Industry Composition 219
Refined Primary Asphalt Market Share 220
Asphalt Paving Products Market Share 225
Asphalt Roofing Products Market Share 229
Manufacturing 233
Product Development 235
Marketing & Distribution 237
Acquisition & Divestiture Activity 241
Cooperative Agreements 242
Company Profiles 245
Alon USA Energy Incorporated 246
American Gilsonite Company 248
APAC Atlantic Incorporated, see CRH
Barrett Paving Materials Incorporated, see Bouygues
BASF SE 250
Berkshire Hathaway Incorporated 252
Bouygues SA 255
BP plc 258
Bridgestone Corporation 259
Building Materials Corporation of America 261
CertainTeed Corporation, see Saint-Gobain
Chevron Corporation 265
CHS Incorporated 266
Colas Incorporated, see Bouygues
Colaska Incorporated, see Bouygues
ConocoPhillips 267
CPM Development Corporation, see CRH
Crafco Incorporated, see Ergon
CRH plc 268
DAP Products Incorporated, see RPM
Deer Park Refinery LP, see Royal Dutch Shell
Delta Companies Incorporated, see Bouygues
Des Moines Asphalt and Paving Company, see CRH
Dexco Polymers LP, see Exxon Mobil
Dolomite Group, see CRH
DuPont (EI) de Nemours 274
Ergon Incorporated 276
Exxon Mobil Corporation 280
Flint Hills Resources LP, see Koch Industries
Fortifiber Corporation 282
GAF Materials Corporation, see Building Materials
Corporation of America
Hanson Aggregates North America, see HeidelbergCement
HeidelbergCement AG 284
Henry Company 285
Holly Corporation 288
Hood Companies 289
INVISTA BV, see Koch Industries
Johns Manville Corporation, see Berkshire Hathaway
Koch Industries Incorporated 291
Lafarge SA 293
Lion Oil Company, see Ergon
Marathon Oil Corporation 295
Michigan Paving & Materials Company, see CRH
Montana Group, see CRH
Murphy Oil Corporation 296
NuStar Energy LP 298
Oldcastle Materials Incorporated, see CRH
Owens Corning 300
Pennsy Supply Incorporated, see CRH
Petroleos de Venezuela SA 304
Pike Industries Incorporated, see CRH
PJ Keating Company, see CRH
Reeves Construction Company, see Bouygues
Republic Powdered Metals Incorporated, see RPM
Road Science LLC 305
Royal Dutch Shell plc 307
RPM International Incorporated 309
Saint-Gobain 313
SemGroup LP316
Shelly Company, see CRH
Simon Contractors Company, see Bouygues
Sinclair Oil Corporation 318
Sloan Construction Company, see Bouygues
Slusser Brothers, see CRH
Staker Parson Companies, see CRH
Sunoco Incorporated 319
TAMKO Building Products Incorporated 320
Tilcon Connecticut Incorporated, see CRH
Tilcon Delaware Incorporated, see CRH
Tilcon New York Incorporated, see CRH
Tremco Incorporated, see RPM
Tricor Refining LLC, see Ergon
Trumbull Asphalt, see Owens Corning
Unique Paving Materials Corporation 323
United Refining Company 324
Valero Energy Corporation 326
Vulcan Asphalt Refining Corporation, see United Refining
Vulcan Materials Company 327
Western Emulsions Incorporated 329
WRB Refining LLC, see ConocoPhillips
Wright Asphalt Products Company, see Alon USA Energy
Ziegler Chemical & Mineral Corporation 331
Other Companies Mentioned in the Study 332
LIST OF TABLES
TABLE NUMBER PAGE
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 9
2 Population & Households 13
3 Construction Expenditures 17
4 Building Construction Expenditures 20
5 Residential Building Construction Expenditures 23
6 New Housing Indicators 28
7 Housing Stock by Type 31
8 Residential Improvement & Repair Expenditures 34
9 Nonresidential Building Construction Expenditures 37
10 Nonresidential Building Improvement & Repair Expenditures 41
11 Nonbuilding Construction Expenditures 43
12 US Highway Mileage 44
13 Public Highway Spending 47
14 Petroleum Products Supply & Demand 49
15 Primary Asphalt Market, 1998-2008 51
16 Asphalt Products Pricing 56
17 Asphalt Products Foreign Trade 62
SECTION IV -- PRIMARY ASPHALT SUPPLY & DEMAND
1 Primary Asphalt Supply & Demand 90
2 Primary Asphalt Demand by Use 93
3 Primary Asphalt Demand in Paving 96
4 Primary Asphalt Demand in Roofing 99
5 Primary Asphalt Demand in Other Uses 100
SECTION V -- ASPHALT PRODUCTS
1 Asphalt Demand by Product 103
2 Paving Products -- Asphalt Demand by Type 109
3 Asphalt Cement Demand 113
4 Asphalt Emulsions Demand 116
5 Cutback Asphalt Demand 118
6 Other Asphalt Paving Products Demand 121
7 Asphalt Demand in Roofing Products 123
8 Asphalt Demand in Asphalt Shingles 127
9 Asphalt Demand in Roofing Asphalts 130
10 Asphalt Demand in Modified Asphalt Roofing Membranes 134
11 Asphalt Demand in Standard Asphaltic Roofing Felts 138
12 Asphalt Demand in Other Roofing Products 140
13 Asphalt Demand in Other Asphalt Products 141
SECTION VI -- ASPHALT MARKETS
1 Asphalt Demand by Market 147
2 Asphalt Demand in Construction Markets 150
3 Residential Markets for Asphalt 153
4 New Residential Market for Asphalt 156
5 Residential Improvement & Repair Market for Asphalt 159
6 Nonresidential Building Markets for Asphalt 161
7 New Nonresidential Building Market for Asphalt 163
8 Nonresidential Building Improvement & Repair Market
for Asphalt 165
9 Nonbuilding Construction Markets for Asphalt 167
10 New Nonbuilding Construction Market for Asphalt 168
11 Nonbuilding Improvement & Repair Market for Asphalt 171
12 Nonconstruction Market for Asphalt 173
SECTION VII -- DEMAND BY REGION
1 Gross Domestic Product by Region 177
2 Population By Region 179
3 Construction Expenditures By Region 182
4 Regional Housing Indicators 184
5 US Primary Asphalt Capacity by Region, 2008 187
6 Asphalt Demand by Region & Type 189
7 Northeast Asphalt Demand 192
8 New England Asphalt Demand 194
9 Middle Atlantic Asphalt Demand 196
10 Midwest Asphalt Demand 197
11 East North Central Asphalt Demand 199
12 West North Central Asphalt Demand 201
13 South Asphalt Demand 204
14 South Atlantic Asphalt Demand 206
15 East South Central Asphalt Demand 208
16 West South Central Asphalt Demand 210
17 West Asphalt Demand 212
18 Mountain Asphalt Demand 214
19 Pacific Asphalt Demand 217
SECTION VIII -- INDUSTRY STRUCTURE
1 US Primary Asphalt Capacity by Producer, 2008 224
2 Asphalt Paving Products Sales by Company, 2008 228
3 Asphalt Roofing Products Sales by Company, 2008 232
4 Selected Acquisitions & Divestitures 242
5 Selected Cooperative Agreements 244
LIST OF CHARTS
CHART NUMBER PAGE
SECTION II -- MARKET ENVIRONMENT
1 Year of Construction of Housing Stock, 2008 32
2 Primary Asphalt Market, 1999-2008 52
3 Primary Asphalt Market Seasonality 53
4 Primary Asphalt Foreign Trade, 2008 60
SECTION IV -- PRIMARY ASPHALT SUPPLY & DEMAND
1 Primary Asphalt Flow Chart 88
2 Primary Asphalt Demand by Use, 2008 93
SECTION V -- ASPHALT PRODUCTS
1 Asphalt Demand by Product, 2008: Weight & Value 104
2 Paving Products -- Asphalt Demand by Type, 2008 110
3 Roofing Products -- Asphalt Demand by Type, 2008 124
SECTION VI -- ASPHALT MARKETS
1 Asphalt Demand in Construction Markets, 2008 151
SECTION VII -- DEMAND BY REGION
1 US Primary Asphalt Capacity by Region, 2008 187
2 Asphalt Demand by Region, 2008 190
SECTION VIII -- INDUSTRY STRUCTURE
1 Primary Asphalt Capacity by Producer, 2008 225
2 Asphalt Paving Products Market Share, 2008 229
3 Asphalt Roofing Products Market Share, 2008 233
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