Asphalt

Growth in US demand for asphalt is expected to result primarily from the recovery of new residential construction from its weak 2010 levels, benefiting both roofing and paving products.

US demand to rise 7.4% annually through 2015

US demand for asphalt is forecast to increase 7.4 percent annually to nearly 35 million tons in 2015. This is equivalent to 191 million barrels of primary asphalt, the vast majority of which is refined petroleum asphalt. The expected growth represents a rebound from the 2005-2010 period, when consumption declined sharply due to the recession and a collapse in building construction. Growth will result primarily from the recovery of new residential construction from its weak 2010 levels, benefiting both roofing and paving products. Gains will be moderated slightly by slower than average growth in both residential and nonresidential improvement and repair applications.

Paving asphalt products to outpace roofing types

Paving products accounted for 80 percent of asphalt consumption in 2010. Demand for asphalt paving products will benefit from an expected increase in federal and state spending on highway and road construction. Growth will advance from a weak 2010 base, when high asphalt prices led to a rollback in paving activity and a greater emphasis on repair as opposed to replacement of roads. As the growth in paving asphalt prices moderates, the volume of paving asphalt consumed will expand. Overall, demand for asphalt in paving uses is forecast to increase 7.8 percent annually to 28.5 million tons in 2015.

Among the different types of asphalt paving products, emulsified asphalt will benefit from the use of in-place recycling and environmental factors, largely at the expense of cutback asphalts. Continuing adoption of performance-based specifications for road projects will generate demand for polymer-modified asphalts. Nevertheless, asphalt cement will continue to be the dominant asphalt paving product. Asphalt cement provides the best combination of economy, versatility and long-term performance.

Demand for asphalt in roofing and other applications is forecast to rise 5.6 percent annually to 6.3 million tons in 2015. This will be a considerable improvement from the very weak levels of 2010. Growth will reflect a recovery in construction of single-family housing, which will benefit asphalt roofing used in steep slope applications, primarily asphalt shingles. Demand will also benefit from the growing consumption of modified asphaltic membranes in lowslope roofing applications, although much of this is a replacement for conventional built-up asphaltic roofing, which uses greater quantities of asphalt per square of roof surface. Gains will also reflect a recovery in nonresidential building activity, which was negatively impacted by the recession, although not as dramatically as residential construction. Finally, growth opportunities will continue to exist in maintenance and repair applications.

Study Scope

This study analyzes the 24.4 million metric ton US asphalt industry. It presents historical demand data for the years 2000, 2005 and 2010, and forecasts for 2015 and 2020 by product (e.g., asphalt cement, asphalt emulsions, cutback asphalt, asphalt shingles, modified asphalt roofing membranes, standard asphaltic roofing felts), market (e.g., residential building, nonresidential building, nonbuilding construction, nonconstruction) and US region.

The study also considers market environment factors, reviews technology and regulatory issues, evaluates company market share and profiles 38 industry players, including GAFMC, CertainTeed and Owens Corning.

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Purchase Asphalt by the Section

  1. Asphalt

    $5,100.00

    1. 1 INTRODUCTION

      $82.00

    2. 2 EXECUTIVE SUMMARY

      $118.00

      1. Table | ASPHALT DEMAND (thousand tons)

    3. 3 MARKET ENVIRONMENT

      $2,273.00

      1. 3.1 General

        $82.00

      2. 3.2 Macroeconomic Environment

        $197.00

        1. Table | MACROECONOMIC INDICATORS (billion 2005 dollars)*

      3. 3.3 Demographic Trends

        $190.00

        1. Table | POPULATION & HOUSEHOLDS (million persons)

      4. 3.4 Construction Trends

        $1,234.00

        1. Table | CONSTRUCTION EXPENDITURES (billion 2005 dollars)

        2. 3.4.1 Building Construction

          $879.00

          1. Table | BUILDING CONSTRUCTION EXPENDITURES (billion 2005 dollars)

          2. Table | RESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES (billion 2005 dollars)

          3. Table | NEW HOUSING INDICATORS

          4. Table | HOUSING STOCK BY TYPE (million units)

          5. Table | RESIDENTIAL IMPROVEMENT & REPAIR EXPENDITURES (billion 2005 dollars)

          6. Table | NONRESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES (billion 2005 dollars)

          7. Table | NONRESIDENTIAL BUILDING IMPROVEMENT & REPAIR EXPENDITURES (billion 2005 dollars)

        3. 3.4.2 Nonbuilding Construction

          $210.00

          1. Table | NONBUILDING CONSTRUCTION EXPENDITURES (billion 2005 dollars)

          2. Table | US HIGHWAY MILEAGE (thousand miles)

          3. Table | PUBLIC HIGHWAY SPENDING

      5. 3.5 Petroleum Industry Trends

        $104.00

        1. Table | PETROLEUM PRODUCTS SUPPLY & DEMAND (million barrels)

      6. 3.6 Primary Asphalt Market Trends

        $82.00

        1. Table | PRIMARY ASPHALT MARKET, 2000-2010

      7. 3.7 Primary Asphalt Market Seasonality

        $82.00

      8. 3.8 Asphalt Products Pricing Trends

        $150.00

        1. Table | ASPHALT PRODUCTS PRICING

      9. 3.9 Competitive Materials

        $82.00

      10. 3.10 Foreign Trade

        $164.00

        1. 3.10.1 Primary Asphalt

          $82.00

        2. 3.10.2 Asphalt Products

          $82.00

          1. Table | ASPHALT PRODUCTS FOREIGN TRADE (million dollars)

    4. 4 TECHNOLOGY & REGULATORY ISSUES

      $1,229.00

      1. 4.1 General

        $82.00

      2. 4.2 Technology

        $718.00

        1. 4.2.1 Primary Asphalt

          $82.00

        2. 4.2.2 Paving Products

          $496.00

        3. 4.2.3 Asphalt Modifiers

          $82.00

        4. 4.2.4 Roofing Asphalt Technologies

          $82.00

      3. 4.3 Environmental & Regulatory Issues

        $496.00

        1. 4.3.1 Recycling

          $151.00

        2. 4.3.2 Environmental Issues

          $169.00

        3. 4.3.3 Government Road Construction Activity

          $143.00

    5. 5 PRIMARY ASPHALT SUPPLY & DEMAND

      $755.00

      1. 5.1 General

        $91.00

      2. 5.2 Supply & Demand

        $124.00

        1. Table | PRIMARY ASPHALT SUPPLY & DEMAND (million barrels)

      3. 5.3 Primary Asphalt Types

        $82.00

      4. 5.4 Primary Asphalt Demand by Use

        $447.00

        1. Table | DEMAND FOR PRIMARY ASPHALT BY USE (million barrels)

        2. 5.4.1 Paving Asphalts

          $302.00

          1. Table | PAVING DEMAND FOR PRIMARY ASPHALT

        3. 5.4.2 Roofing Asphalts

          $82.00

          1. Table | ROOFING DEMAND FOR PRIMARY ASPHALT

      5. 5.5 Other Asphalts

        $82.00

        1. Table | DEMAND FOR PRIMARY ASPHALT IN OTHER USES

    6. 6 ASPHALT PRODUCTS

      $1,711.00

      1. 6.1 General

        $117.00

        1. Table | ASPHALT DEMAND BY PRODUCT

      2. 6.2 Demand Drivers

        $172.00

      3. 6.3 Paving Products

        $483.00

        1. Table | PAVING PRODUCTS DEMAND FOR ASPHALT (thousand tons)

        2. 6.3.1 Asphalt Cement

          $132.00

          1. Table | ASPHALT CEMENT DEMAND FOR ASPHALT

        3. 6.3.2 Asphalt Emulsions

          $113.00

          1. Table | ASPHALT EMULSIONS DEMAND FOR ASPHALT (thousand tons)

        4. 6.3.3 Cutback Asphalt

          $82.00

          1. Table | CUTBACK ASPHALT DEMAND FOR ASPHALT (thousand tons)

        5. 6.3.4 Other Asphalt Paving Products

          $83.00

          1. Table | OTHER ASPHALT PAVING PRODUCTS DEMAND FOR ASPHALT (thousand tons)

      4. 6.4 Roofing Products

        $708.00

        1. Table | ROOFING PRODUCTS DEMAND FOR ASPHALT (thousand tons)

        2. 6.4.1 Asphalt Shingles

          $107.00

          1. Table | ASPHALT SHINGLES DEMAND FOR ASPHALT

        3. 6.4.2 Roofing Asphalts

          $129.00

          1. Table | ROOFING ASPHALTS DEMAND FOR ASPHALT

        4. 6.4.3 Modified Asphalt Roofing Membranes

          $163.00

          1. Table | MODIFIED ASPHALT ROOFING MEMBRANES DEMAND FOR ASPHALT

        5. 6.4.4 Standard Asphaltic Roofing Felts

          $163.00

          1. Table | STANDARD ASPHALTIC ROOFING FELTS DEMAND FOR ASPHALT

        6. 6.4.5 Other Asphalt Roofing Products

          $88.00

          1. Table | OTHER ASPHALT ROOFING PRODUCTS DEMAND FOR ASPHALT (thousand tons)

      5. 6.5 Other Asphalt Products

        $230.00

        1. Table | OTHER PRODUCTS DEMAND FOR ASPHALT (thousand tons)

        2. 6.5.1 Construction Products

          $142.00

        3. 6.5.2 Nonconstruction Products

          $82.00

    7. 7 MARKETS

      $1,105.00

      1. 7.1 General

        $82.00

        1. Table | ASPHALT DEMAND BY MARKET (thousand tons asphalt content)

      2. 7.2 Construction

        $980.00

        1. Table | ASPHALT DEMAND IN CONSTRUCTION MARKETS (thousand tons asphalt content)

        2. 7.2.1 Residential Building

          $369.00

          1. Table | RESIDENTIAL MARKETS FOR ASPHALT (thousand tons asphalt content)

          2. Table | NEW RESIDENTIAL MARKET FOR ASPHALT (thousand tons asphalt content)

          3. Table | RESIDENTIAL IMPROVEMENT & REPAIR MARKET FOR ASPHALT (thousand tons asphalt content)

        3. 7.2.2 Nonresidential Building

          $242.00

          1. Table | NONRESIDENTIAL BUILDING MARKETS FOR ASPHALT (thousand tons asphalt content)

          2. Table | NEW NONRESIDENTIAL BUILDING MARKET FOR ASPHALT (thousand tons asphalt content)

          3. Table | NONRESIDENTIAL BUILDING IMPROVEMENT & REPAIR MARKET FOR ASPHALT (thousand tons asphalt content)

        4. 7.2.3 Nonbuilding

          $245.00

          1. Table | NONBUILDING CONSTRUCTION MARKETS FOR ASPHALT (thousand tons asphalt content)

          2. Table | NEW NONBUILDING CONSTRUCTION MARKET FOR ASPHALT (thousand tons asphalt content)

          3. Table | NONBUILDING IMPROVEMENT & REPAIR MARKET FOR ASPHALT (thousand tons asphalt content)

      3. 7.3 Nonconstruction Markets

        $82.00

        1. Table | ASPHALT DEMAND IN NONCONSTRUCTION MARKETS (thousand tons asphalt content)

    8. 8 REGIONS

      $1,735.00

      1. 8.1 General

        $82.00

      2. 8.2 Macroeconomic Overview

        $104.00

        1. Table | GROSS DOMESTIC PRODUCT BY REGION (billion 2005 dollars)

      3. 8.3 Demographic Trends

        $100.00

        1. Table | POPULATION BY REGION (million persons)

      4. 8.4 Construction Trends

        $82.00

        1. Table | CONSTRUCTION EXPENDITURES BY REGION (billion 2005 dollars)

      5. 8.5 Housing Trends

        $87.00

        1. Table | REGIONAL HOUSING INDICATORS (thousand units)

      6. 8.6 Primary Asphalt Capacity by Region

        $122.00

        1. Table | US PRIMARY ASPHALT CAPACITY BY REGION, 2010

      7. 8.7 Regional Asphalt Demand

        $1,174.00

        1. Table | ASPHALT DEMAND BY REGION & TYPE (thousand tons asphalt content)

        2. 8.7.1 Northeast

          $193.00

          1. Table | NORTHEAST ASPHALT DEMAND (thousand tons asphalt content)

          2. Table | NEW ENGLAND ASPHALT DEMAND (thousand tons asphalt content)

          3. Table | MIDDLE ATLANTIC ASPHALT DEMAND (thousand tons asphalt content)

        3. 8.7.2 Midwest

          $271.00

          1. Table | MIDWEST ASPHALT DEMAND (thousand tons asphalt content)

          2. Table | EAST NORTH CENTRAL ASPHALT CONTENT (thousand tons asphalt content)

          3. Table | WEST NORTH CENTRAL ASPHALT CONTENT (thousand tons asphalt content)

        4. 8.7.3 South

          $354.00

          1. Table | SOUTH ASPHALT DEMAND (thousand tons asphalt content)

          2. Table | SOUTH ATLANTIC ASPHALT DEMAND (thousand tons asphalt content)

          3. Table | EAST SOUTH CENTRAL ASPHALT DEMAND (thousand tons asphalt content)

          4. Table | WEST SOUTH CENTRAL ASPHALT DEMAND (thousand tons asphalt content)

        5. 8.7.4 West

          $298.00

          1. Table | WEST ASPHALT DEMAND (thousand tons asphalt content)

          2. Table | MOUNTAIN ASPHALT DEMAND (thousand tons asphalt content)

          3. Table | PACIFIC ASPHALT DEMAND (thousand tons asphalt content)

    9. 9 INDUSTRY STRUCTURE

      $5,132.00

      1. 9.1 General

        $82.00

      2. 9.2 Industry Concentration

        $83.00

      3. 9.3 Primary Asphalt Market Share

        $180.00

        1. Table | US PRIMARY ASPHALT CAPACITY BY PRODUCER, 2010 (266 million barrels)

      4. 9.4 Asphalt Paving Products Market Share

        $125.00

        1. Table | ASPHALT PAVING PRODUCTS SALES BY COMPANY, 2010 (million dollars)

      5. 9.5 Asphalt Roofing Products Market Share

        $127.00

        1. Table | ASPHALT ROOFING PRODUCTS SALES BY COMPANY, 2010 (million dollars)

      6. 9.6 Manufacturing

        $90.00

      7. 9.7 Product Development

        $123.00

      8. 9.8 Marketing & Distribution

        $169.00

      9. 9.9 Acquisition & Divestiture Activity

        $82.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      10. 9.10 Cooperative Agreements

        $82.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

      11. 9.11 Company Profiles

        $4,275.00

        1. 9.11.1 Alon USA Energy Incorporated

          $124.00

        2. 9.11.2 American Gilsonite Company

          $100.00

        3. 9.11.3 BASF SE

          $93.00

        4. 9.11.4 Berkshire Hathaway Incorporated

          $150.00

        5. 9.11.5 Bouygues SA

          $158.00

        6. 9.11.6 BP plc

          $82.00

        7. 9.11.7 Bridgestone Corporation

          $119.00

        8. 9.11.8 Building Materials Corporation of America

          $171.00

        9. 9.11.9 CHS Incorporated

          $82.00

        10. 9.11.10 ConocoPhillips

          $82.00

        11. 9.11.11 CRH plc

          $403.00

        12. 9.11.12 Delek US Holdings Incorporated

          $82.00

        13. 9.11.13 DuPont (EI) de Nemours

          $82.00

        14. 9.11.14 Ergon Incorporated

          $232.00

        15. 9.11.15 Exxon Mobil Corporation

          $108.00

        16. 9.11.16 Fortifiber Corporation

          $82.00

        17. 9.11.17 HeidelbergCement AG

          $82.00

        18. 9.11.18 Henry Company

          $185.00

        19. 9.11.19 HollyFrontier Corporation

          $84.00

        20. 9.11.20 Hood Companies

          $101.00

        21. 9.11.21 Koch Industries Incorporated

          $82.00

        22. 9.11.22 Lafarge SA

          $100.00

        23. 9.11.23 Marathon Petroleum Corporation

          $93.00

        24. 9.11.24 Murphy Oil Corporation

          $82.00

        25. 9.11.25 NuStar Energy LP

          $88.00

        26. 9.11.26 Owens Corning

          $230.00

        27. 9.11.27 Road Science LLC

          $110.00

        28. 9.11.28 Royal Dutch Shell plc

          $82.00

        29. 9.11.29 RPM International Incorporated

          $237.00

        30. 9.11.30 Saint-Gobain

          $184.00

        31. 9.11.31 Sinclair Oil Corporation

          $82.00

        32. 9.11.32 TAMKO Building Products Incorporated

          $194.00

        33. 9.11.33 Unique Paving Materials Corporation

          $82.00

        34. 9.11.34 United Refining Company

          $82.00

        35. 9.11.35 Valero Energy Corporation

          $96.00

        36. 9.11.36 Vulcan Materials Company

          $82.00

        37. 9.11.37 Western Emulsions Incorporated

          $82.00

        38. 9.11.38 Ziegler Chemical & Mineral Corporation

          $82.00

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