Global Asphalt, Lubricating Oil And Grease Market Trends And Strategies Of Major Players In The Asphalt, Lubricating Oil And Grease Market 2021-2030

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.

Global Asphalt, Lubricating Oil And Grease Market Size And Drivers:

The global asphalt, lubricating oil and grease market is expected to grow from $254.02 billion in 2020 to $308.13 billion in 2021 at a compound annual growth rate (CAGR) of 21.3%. The market is expected to reach $437.25 billion in 2025 at a CAGR of 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.

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Trends In The Global Asphalt, Lubricating Oil And Grease Market

Most of the asphalt companies are using frequency inverters in asphalt mixing process to control asphalt mixture drying time. Frequency inverter is an electronic device which transforms an AC current with fixed frequency to variable amplitude and frequency. It is used to vary the speed of rotation of the drying drum of the plant drying system so that the aggregates which are more porous receive heat from the burning flame for more time resulting in complete drying. It improves the drying process and allows the less porous asphalt to dry faster resulting in increased production.

Global Asphalt, Lubricating Oil And Grease Market Segments:

The global asphalt, lubricating oil and grease market is further segmented based on type and geography.
By Type: Asphalt, Other Petroleum Products.
By End Use Industries: Power Generation, Transport, Metallurgy & Metalworking, Food & Beverage, Chemical, Others.
Subsegments Covered: Asphalt Paving Mixtures And Blocks, Prepared Asphalt And Tar Roofing And Siding Products, Roofing Asphalts And Pitches, Coatings And Cements.
By Geography: The global asphalt, lubricating oil and grease market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global asphalt, lubricating oil and grease market, accounting for 37% of the total market.

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Asphalt, Lubricating Oil And Grease Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides asphalt, lubricating oil and grease market overviews, analyzes and forecasts market size and growth for the global asphalt, lubricating oil and grease market, asphalt, lubricating oil and grease market share, asphalt, lubricating oil and grease market players, asphalt, lubricating oil and grease market segments and geographies, asphalt, lubricating oil and grease market’s leading competitors’ revenues, profiles and market shares. The asphalt, lubricating oil and grease market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.