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(MoneyNewsWire.Net, December 12, 2018 ) The global Asphalt, Lubricating Oil And Grease Manufacturing market, a part of the oil and gas industry, declined at a compound annual growth rate (CAGR) of around -13% during the historic period. The oil and gas industry showed a drastic decline. This can be mainly attributed to the fall in the global crude oil price, as it affected petroleum production and prices of asphalt, lubricating oil and grease manufacturing.
In the forecast period, the global Asphalt, Lubricating Oil And Grease Manufacturing market size is expected to be over $300 billion by 2021, growing at a CAGR of nearly 2%. This is expected due to rise in demand for petroleum products from developing nations and the expected return of stability in the global oil and gas pricing. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global Asphalt, Lubricating Oil And Grease Manufacturing market in the future.
Find TBRC’s report on the Asphalt, Lubricating Oil And Grease Manufacturing market:
https://www.thebusinessresearchcompany.com/report/asphalt-lubricating-oil-and-grease-manufacturing-global-market-report-2018
Polymer modified asphalt(PMA),which is variation of traditional asphalt has been gaining popularity as it can be fixed at comparatively low temperatures and retains surface granules better compared to standard granules. Asphalts are mixed with elastomers to produce PMA which has higher rutting resistance and durability.
Major companies in the Asphalt, Lubricating Oil And Grease Manufacturing market, offering PMA technology include Royal Dutch Shell, BP P.L.C., Gazprom Neft, CRH Plc, Owens Corning Sales LLC, Lafargeholcim Ltd, Valero, Imperial Oil Ltd, Vulcan Materials Co.
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https://www.thebusinessresearchcompany.com/sample.aspx?id=88&type=smp
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