TABLE OF CONTENTS
SECTION PAGE
INTRODUCTION xii
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
World Economic Overview 5
Recent Historical Trends 5
Macroeconomic Outlook 7
World Transport Overview 9
World Construction Expenditures 10
Residential Building 12
Nonresidential Building 14
World Demographic Overview 16
Population 16
Households 18
World Crude Petroleum Outlook 19
Legislation & Regulatory Considerations 21
Technology Trends 25
Polymer-Modified Paving Asphalts 27
Roofing Products 28
III. WORLD OVERVIEW 30
General 30
Asphalt Demand by Product 30
Paving Products 32
Roofing Products 33
Other Products 34
Asphalt Demand by Region 35
Relation of Primary Asphalt to Asphalt Products 38
Primary Asphalt Demand by Region 40
Primary Asphalt Production by Region 41
International Trade in Primary Asphalt 43
Asphalt Demand & Economic Activity 45
IV. NORTH AMERICA 47
Overview 47
United States 50
Canada 54
Mexico 57
V. WESTERN EUROPE 61
Overview 61
France 65
Germany 69
United Kingdom 73
Italy 77
Spain 80
The Netherlands 84
Belgium 87
Other Western Europe 90
VI. ASIA/PACIFIC 95
Overview 95
China 99
Japan 104
India 108
Indonesia 112
Australia 115
Thailand 118
South Korea 121
Taiwan 124
Vietnam 127
Other Asia/Pacific 130
VII. OTHER REGIONS 134
Latin America 134
Brazil 137
Argentina 140
Venezuela 143
Other Latin America 146
Eastern Europe 149
Russia 153
Poland 157
Czech Republic 160
Hungary 163
Romania 166
Other Eastern Europe 169
Africa/Mideast 173
Turkey 176
Saudi Arabia 179
South Africa 182
Other Africa/Mideast 185
VIII. INDUSTRY STRUCTURE 190
General 190
Industry Composition 191
Refined Primary Asphalt Market Share 192
Market Leaders 193
Petroleos de Venezuela 193
Royal Dutch/Shell 194
BP 195
Marathon Oil 195
Valero Energy 196
Exxon Mobil 196
Other Leading Asphalt Refiners 197
Paving Products Market Share 197
Market Leaders 198
Colas 198
CRH 199
APAC 200
Other Asphalt Paving Companies 200
Roofing Products Market Share 201
Market Leaders 202
GAF 202
Saint-Gobain 203
Owens Corning 203
IKO Group 203
Other Asphalt Roofing Product Manufacturers 204
Manufacturing 205
Product Development 206
Marketing & Distribution 208
Mergers & Acquisitions 210
Cooperative Agreements 213
Company Profiles 217
Al Futtaim Tarmac, see Anglo American
Andernach (AW) GmbH, see IKO Group
Anglo American plc 218
APAC Incorporated, see Ashland
Asfaltos Espanoles SA, see Repsol YPF
Ashland Incorporated 222
ATAB NV, see IKO Group
Atofina SA, see Total SA
Barrett Paving Materials Incorporated, see Bouygues
Bau Holding Vermogensverwaltung AG 224
Berkshire Hathaway Incorporated 226
Better Materials Corporation, see Hanson
Bouygues Group 228
BP plc 235
Brai SpA, see Lafarge
Caltex Corporation, see ChevronTexaco
CECA, see Total SA
CertainTeed Corporation, see Saint-Gobain
ChevronTexaco Corporation 239
Chevron Ven Asphalt Alliance,
see ChevronTexaco and Petroleos de Venezuela
China Petroleum & Chemical Corporation 241
CITERCO, see Petroleos de Venezuela
CITGO Petroleum Corporation, see Petroleos de Venezuela
Colas SA, see Bouygues
CRH plc 243
CSR Emoleum Services Pty Limited,
see Exxon Mobil and Rinker Group
Deer Park Refinery Limited Partnership,
see Petroleos Mexicanos and Royal Dutch/Shell
Delta Contractors Incorporated, see Bouygues
Deutsche Asphalt GmbH,
see Bau Holding Vermogensverwaltung
Dexco Polymers LP, see Exxon Mobil
Exxon Mobil Corporation 246
Fortum Corporation 250
G-I Holdings Incorporated 252
GAF Materials Corporation, see G-I Holdings
Grace (WR) & Company 255
Hanson plc 257
Hindustan Colas Limited, see Bouygues
IA Construction Corporation, see Bouygues
Icopal Group 261
IKO Group 264
Imperial Oil Limited, see Exxon Mobil
Indian Oil Corporation Limited 269
Johns Manville Corporation, see Berkshire Hathaway
Johnson (SE), see CRH plc
Kiewit Materials Company, see Rinker Group
Kukdong Oil & Chemical Company Limited 270
Lafarge SA 271
Marathon Ashland Petroleum LLC,
see Ashland and Marathon Oil
Marathon Oil Corporation 275
Mataki SA, see Trelleborg
MeadWestvaco Corporation 276
Meple SA, see IKO Group
Nebiprofa SA, see IKO Group
NIPPO Corporation, see Nippon Oil
Nippon Oil Corporation 278
Nynas AB, see Fortum and Petroleos de Venezuela
Oldcastle Materials Incorporated, see CRH plc
Onduline SA 279
Owens Corning 281
PDVSA, see Petroleos de Venezuela
Permanite, see IKO Group
PETROBRAS, see Petroleos Brasileiro
Petroleos Brasileiro SA 284
Petroleos de Venezuela SA 286
Petroleos Mexicanos SA 289
Phoenix Tag, see Trelleborg
Pioneer Road Services Pty Limited,
see Hanson and Royal Dutch/Shell
Polyglass SpA 290
Repsol YPF SA 292
Rinker Group Limited 294
RMC Group plc 296
Roadstone Limited, see CRH plc
Rovakate Limited, see Icopal
Royal Dutch/Shell Group of Companies 298
Ruberoid Building Products Limited, see IKO Group
Ruhr Oel GmbH, see BP plc and Petroleos de Venezuela
Saint-Gobain 304
Shell Oil Company, see Royal Dutch/Shell
Shelly Company, see CRH plc
Showa Shell Sekiyu KK, see Royal Dutch/Shell
Sinopec Corporation, see China Petroleum & Chemical
Sintra Incorporated, see Bouygues
Siplast SA, see Icopal
Sloan Construction Company Incorporated, see Bouygues
SMAC Acieroid, see Bouygues
Soprema SA 307
Strabag AG, see Bau Holding Vermogensverwaltung
Tarmac Group, see Anglo American
Teglass SpA, see Polyglass
Thompson-McCully Company, see CRH plc
Tipco Asphalt Public Company Limited, see Bouygues
TonenGeneral Sekiyu KK, see Exxon Mobil
Total Fina Elf SA, see Total SA
Total SA 310
Trelleborg AB 312
Trumbull Asphalt, see Owens Corning
US Aggregates Incorporated, see CRH plc
Valero Energy Corporation 313
Veba Oil AG, see BP plc
Vedag Dachsysteme GmbH & Co. KG 315
Veidekke ASA 316
Villas Austria GmbH 318
Yukos Oil Company 320
Additional Asphalt Industry Companies 321
LIST OF TABLES
TABLE NUMBER PAGE
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 World Gross Domestic Product by Region 8
2 World Paved Roads by Region 10
3 World Construction Expenditures by Region 12
4 World Residential Construction Expenditures by Region 14
5 World Nonresidential Building Construction Expenditures
by Region 15
6 World Population by Region 17
7 World Households by Region 19
8 World Crude Petroleum Production by Region 20
SECTION III -- OVERVIEW
1 World Asphalt Overview 31
2 World Asphalt Demand by Region 37
3 World Primary Asphalt Demand by Region 41
4 World Primary Asphalt Production by Region 43
5 World Primary Asphalt Trade Flows 44
SECTION IV -- NORTH AMERICA
1 North America -- Asphalt Demand by Product & Primary
Asphalt Demand 49
2 US -- Asphalt Demand by Product & Primary Asphalt Demand 53
3 Canada -- Asphalt Demand by Product & Primary
Asphalt Demand 56
4 Mexico -- Asphalt Demand by Product & Primary
Asphalt Demand 60
SECTION V -- WESTERN EUROPE
1 Western Europe -- Asphalt Demand by Product & Primary
Asphalt Demand 64
2 France -- Asphalt Demand by Product & Primary Asphalt
Demand 68
3 Germany -- Asphalt Demand by Product & Primary Asphalt
Demand 72
4 United Kingdom -- Asphalt Demand by Product & Primary
Asphalt Demand 76
5 Italy -- Asphalt Demand by Product & Primary Asphalt Demand 79
6 Spain -- Asphalt Demand by Product & Primary Asphalt Demand 83
7 The Netherlands -- Asphalt Demand by Product & Primary
Asphalt Demand 86
8 Belgium -- Asphalt Demand by Product & Primary
Asphalt Demand 89
9 Other Western Europe -- Asphalt Demand by Country 91
10 Other Western Europe -- Asphalt Demand by Product &
Primary Asphalt Demand 94
SECTION VI -- ASIA/PACIFIC
1 Asia/Pacific -- Asphalt Demand by Product & Primary
Asphalt Demand 98
2 China -- Asphalt Demand by Product & Primary Asphalt
Demand 103
3 Japan -- Asphalt Demand by Product & Primary Asphalt
Demand 107
4 India -- Asphalt Demand by Product & Primary Asphalt
Demand 111
5 Indonesia -- Asphalt Demand by Product & Primary Asphalt
Demand 114
6 Australia -- Asphalt Demand by Product & Primary Asphalt
Demand 117
7 Thailand -- Asphalt Demand by Product & Primary Asphalt
Demand 120
8 South Korea -- Asphalt Demand by Product & Primary
Asphalt Demand 123
9 Taiwan -- Asphalt Demand by Product & Primary Asphalt
Demand 126
10 Vietnam -- Asphalt Demand by Product & Primary Asphalt
Demand 129
11 Other Asia/Pacific -- Asphalt Demand by Country 131
12 Other Asia/Pacific -- Asphalt Demand by Product & Primary
Asphalt Demand 133
SECTION VII -- OTHER REGIONS
1 Latin America -- Asphalt Demand by Product & Primary
Asphalt Demand 136
2 Brazil -- Asphalt Demand by Product & Primary Asphalt
Demand 139
3 Argentina -- Asphalt Demand by Product & Primary Asphalt
Demand 142
4 Venezuela -- Asphalt Demand by Product & Primary Asphalt
Demand 144
5 Other Latin America -- Asphalt Demand by Country 147
6 Other Latin America -- Asphalt Demand by Product &
Primary Asphalt Demand 148
7 Eastern Europe -- Asphalt Demand by Product & Primary
Asphalt Demand 152
8 Russia -- Asphalt Demand by Product & Primary Asphalt
Demand 156
9 Poland - Asphalt Demand by Product & Primary Asphalt
Demand 159
10 Czech Republic -- Asphalt Demand by Product & Primary
Asphalt Demand 162
11 Hungary -- Asphalt Demand by Product & Primary Asphalt
Demand 165
12 Romania -- Asphalt Demand by Product & Primary Asphalt
Demand 168
13 Other Eastern Europe -- Asphalt Demand by Country 170
14 Other Eastern Europe -- Asphalt Demand by Product &
Primary Asphalt Demand 172
15 Africa/Mideast -- Asphalt Demand by Product & Primary
Asphalt Demand 175
16 Turkey -- Asphalt Demand by Product & Primary Asphalt
Demand 178
17 Saudi Arabia -- Asphalt Demand by Product & Primary
Asphalt Demand 181
18 South Africa -- Asphalt Demand by Product & Primary
Asphalt Demand 184
19 Other Africa/Mideast -- Asphalt Demand by Country 186
20 Other Africa/Mideast -- Asphalt Demand by Product &
Primary Asphalt Demand 188
SECTION VIII -- INDUSTRY STRUCTURE
1 World Asphalt Paving Production for Selected
Companies, 2002 201
2 World Asphalt Roofing Revenues for Selected
Manufacturers, 2002 205
3 Selected Acquisitions & Divestitures 211
4 Selected Cooperative Agreements 215
LIST OF CHARTS
CHART NUMBER PAGE
SECTION III
1 Primary Asphalt Flow Chart 39
2 Relationship Between Per Capita Asphalt Demand &
Per Capita Gross Domestic Product, 2002 46
SECTION VIII
1 Annual Asphalt Refinery Capacity by Company, 2002 193
2 Asphalt Paving Producers Market Share, 2002 198
3 Asphalt Roofing Manufacturers Market Share, 2002 202
