The Asphalt Market size was valued at USD 250 million in 2022. It is estimated to hit USD 372.19 million by 2030 and grow at a CAGR of 5.1% over the forecast period of 2023-2030.
The growth of the asphalt market is driven by the increasing demand for infrastructure development worldwide. The construction of new roads, highways, and airports, coupled with the need for maintenance and repair of existing infrastructure, has fueled the demand for asphalt. Additionally, the rising popularity of asphalt shingles in the roofing industry has further contributed to the market's expansion. The adoption of advanced additives and modifiers in asphalt formulations further drives the growth of the asphalt market. These additives enhance the performance characteristics of asphalt, making it more durable, flexible, and resistant to cracking. Additionally, the use of recycled materials, such as reclaimed asphalt pavement (RAP), is gaining traction as a cost-effective and sustainable alternative to traditional asphalt production.
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Based on the application, the roadways application segment dominated the asphalt market with the highest revenue share of about 43% in 2022 owing to the expansion of the construction industry. This growth is fueled by rapid urbanization and an increasing population, which creates a demand for roadway applications. The substance plays a crucial role as a binding agent for roadways and highways, ensuring the cohesion and durability of the materials used. Furthermore, the growing connectivity between countries and regions further strengthens the dominance of this segment. Not only does it serve as a binding agent, but it also acts as a waterproofing agent for roadways and other infrastructures. By preventing accidents and protecting residential and non-residential structures from harsh weather conditions, it plays a vital role in ensuring safety and longevity.
Drivers
Increasing adoption of asphalt for road construction and maintenance
As urbanization continues to expand, the need for well-built and maintained roads becomes paramount. This demand is further fueled by government initiatives to improve infrastructure, leading to a steady growth in the asphalt market.
Rising popularity of asphalt as a sustainable and eco-friendly material
Asphalt is recyclable, reducing the need for new raw materials and minimizing waste. This eco-conscious approach is attracting both public and private sectors, driving the demand for asphalt in various construction projects.
Restrain
Fluctuating cost of raw materials
Asphalt production heavily relies on petroleum, and any changes in oil prices directly impact the overall cost of asphalt. This volatility poses a significant challenge for asphalt manufacturers and contractors, as it affects their profit margins and pricing strategies.
Opportunities
Development of advanced asphalt mixtures
Researchers and manufacturers are constantly exploring new additives and technologies to enhance the performance and durability of asphalt. These advancements not only improve the quality of roads but also open doors for new applications in areas such as roofing and waterproofing.
Growing focus on sustainable infrastructure
Challenges
Environmental concerns associated with asphalt production
The process of manufacturing asphalt releases greenhouse gases and other pollutants, contributing to air pollution. This has led to increased scrutiny and regulations, requiring asphalt manufacturers to invest in cleaner production methods and technologies.
Bitumen, a crucial raw material utilized in the production of asphalt which is a man-made substance comprising bitumen, sand, gravel, and various other components. In 2021, Russia exported a staggering 5 million tons of bitumen to 50 countries, amounting to a value exceeding $1000 million. However, the nation is currently witnessing a decline in its bitumen markets due to the imposition of sanctions following the attack on Ukraine. The majority of the countries that import bitumen from Russia are located in Africa, America, Europe, and select Asian nations. In response, Russia has intensified its bitumen exports to its allied nations. Notably, the country witnessed a remarkable growth in bitumen exports to China, with a staggering 34.9% increase in March, reaching 18,700 tons compared to February. Similarly, bitumen exports to Kazakhstan doubled in March, reaching 15,700 tons. The consumption of bitumen has been significantly impacted by the surge in prices driven by the conflict in Ukraine, particularly in the Mediterranean and European cargo and truck markets. Consequently, this has had a profound effect on the asphalt market. As Ukraine endeavors to rebuild its roads and infrastructure damaged during Russia's invasion, the country has witnessed a steady increase in bitumen imports via truck since August 2022. Overall, the bitumen industry is undergoing a transformative period, with Russia facing challenges in its traditional markets while simultaneously exploring new avenues for growth.
During economic recessions, the asphalt market experiences a decline in demand due to reduced construction activities. As the construction industry slows down, the need for asphalt, a vital component in road construction and maintenance, diminishes. Furthermore, the asphalt market is heavily reliant on government infrastructure projects. During recessions, governments often reduce their spending on public works, including road construction and repair. This reduction in public investment further exacerbates the decline in demand for asphalt, negatively impacting the market. In addition to reduced demand, the asphalt market also faces challenges related to pricing and profitability during recessions. As competition intensifies due to decreased demand, asphalt producers may engage in price wars to secure contracts. The prices of bitumen in India have already witnessed a significant decline of approximately 65 US dollars in June 2023. Meanwhile, Iran has also reduced its vacuum bottom prices by approximately 3.6%. On the other hand, Singapore and Bahrain have maintained a steady price for bitumen.
By Product
Roofing
Paving
Others
By Type
Cold Mix Asphalt
Warm Mix Asphalt
Hot Mix Asphalt
By Application
Roadways
Recreation
Waterproofing
Others
By End-user
Residential
Non-Residential
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Asia Pacific dominated the Asphalt Market with the highest revenue share of about 37% in 2022. The significant growth in the construction industry is attributed to the increasing demand from developing economies, particularly South Korea, China, and India. Among these, China stands out as the dominant country due to its rising population and rapid urbanization. The region is experiencing substantial infrastructure development, coupled with innovative advancements in the construction sector, which is expected to further drive market growth in the foreseeable future.
Moreover, the region's increasing focus on sustainable practices has led to the adoption of innovative asphalt solutions that are both environmentally friendly and energy efficient. Fluctuations in crude oil prices, given the region's heavy reliance on oil imports, play a crucial role in determining the costs of asphalt production. Furthermore, technological advancements and government initiatives aimed at enhancing infrastructure further contribute to the expansion of the market. Additionally, the unique climatic conditions and stringent environmental regulations specific to the Asia Pacific region significantly influence the selection of asphalt materials and application methods.
North America is expected to grow with a CAGR of about 5.4% in the Asphalt Market during the forecast period due to the increasing use of recreational facilities in residential buildings and the growing trend of road and highway maintenance. Additionally, strong economic growth, rising construction activity, and favorable governmental regulations will further drive demand. In North America, according to the National Asphalt Pavement Association (NAPA), approximately 65% of the bitumen pavement market is funded by public sources, primarily for highway projects. Non-residential and residential construction make up the remaining 35%. NAPA reports that there are currently around 3,500 asphalt mix production sites operating in the United States. These sites collectively produce over 355 million tons of asphalt pavement material each year.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are CEMEX S.A.B. de C.V., Exxon Mobil Corporation, Royal Dutch Shell, Total SA, United Refining Company, Boral, Aggregate Industries Ltd., China Petroleum & Chemical Corporation, Chevron Corporation, Marathon Petroleum Corporation, and other key players mentioned in the final report.
In August 2023, Cemex is making significant strides in its UK asphalt operation through a robust investment program. As part of this initiative, a new plant will be opened in Birmingham, and various locations will undergo developments to enhance operational efficiency and sustainability.
In June 2023, BORAL embarked on the largest crumbed rubber asphalt demonstration project in Australia. This project involves the provision of 2,000 tonnes of sustainable pavement material and an additional 1,200 tonnes of controlled asphalt mix. These materials will be used to pave eight local Sydney council streets, showcasing the potential of this innovative solution.
In September 2022, Aggregate Industries, a leading supplier of construction materials, introduced a reduced carbon asphalt, known as Foamix®. This asphalt is not only 100% recyclable but also ideal for constructing, repairing, and maintaining new or existing highways. This sustainable solution is suitable for base and binder course layers, making it a versatile option for highways, footways, and haunching works.
| Report Attributes | Details |
| Market Size in 2022 | US$ 250 Mn |
| Market Size by 2030 | US$ 372.19 Mn |
| CAGR | CAGR of 5.1% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Roofing, Paving, and Others) • By Type (Cold Mix Asphalt, Warm Mix Asphalt, and Hot Mix Asphalt) • By Application (Roadways, Recreation, Waterproofing, and Others) • By End-user (Residential and Non-Residential) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | CEMEX S.A.B. de C.V., Exxon Mobil Corporation, Royal Dutch Shell, Total SA, United Refining Company, Boral, Aggregate Industries Ltd., China Petroleum & Chemical Corporation, Chevron Corporation, Marathon Petroleum Corporation |
| Key Drivers | • Increasing adoption of asphalt for road construction and maintenance • Rising popularity of asphalt as a sustainable and eco-friendly material |
| Market Restraints | • Fluctuating cost of raw materials |
Ans: The Asphalt Market was valued at USD 250 million in 2022.
Ans: The expected CAGR of the global Asphalt Market during the forecast period is 5.1%.
Ans: The Paving product segment dominated the Asphalt Market with the highest revenue share in 2022.
Ans: Asphalt is derived from petroleum, and fluctuations in oil prices directly impact the cost of production. This factor is likely to restrain the Asphalt Market.
Ans: Governments and organizations worldwide are prioritizing sustainable construction practices, including the use of eco-friendly materials like asphalt. This shift towards sustainability creates a favorable environment which drives the adoption of asphalt in the construction industry.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Asphalt Market Segmentation, By Product
8.1 Roofing
8.2 Paving
8.3 Others
9. Asphalt Market Segmentation, By Type
9.1 Cold Mix Asphalt
9.2 Warm Mix Asphalt
9.3 Hot Mix Asphalt
10. Asphalt Market Segmentation, By Application
10.1 Roadways
10.2 Recreation
10.3 Waterproofing
10.4 Others
11. Asphalt Market Segmentation, By End-user
11.1 Residential
11.2 Non-Residential
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Asphalt Market By Country
12.2.2 North America Asphalt Market By Product
12.2.3 North America Asphalt Market By Type
12.2.4 North America Asphalt Market By Application
12.2.5 North America Asphalt Market By End-user
12.2.6 USA
12.2.6.1 USA Asphalt Market By Product
12.2.6.2 USA Asphalt Market By Type
12.2.6.3 USA Asphalt Market By Application
12.2.6.4 USA Asphalt Market By End-user
12.2.7 Canada
12.2.7.1 Canada Asphalt Market By Product
12.2.7.2 Canada Asphalt Market By Type
12.2.7.3 Canada Asphalt Market By Application
12.2.7.4 Canada Asphalt Market By End-user
12.2.8 Mexico
12.2.8.1 Mexico Asphalt Market By Product
12.2.8.2 Mexico Asphalt Market By Type
12.2.8.3 Mexico Asphalt Market By Application
12.2.8.4 Mexico Asphalt Market By End-user
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Eastern Europe Asphalt Market By Country
12.3.1.2 Eastern Europe Asphalt Market By Product
12.3.1.3 Eastern Europe Asphalt Market By Type
12.3.1.4 Eastern Europe Asphalt Market By Application
12.3.1.5 Eastern Europe Asphalt Market By End-user
12.3.1.6 Poland
12.3.1.6.1 Poland Asphalt Market By Product
12.3.1.6.2 Poland Asphalt Market By Type
12.3.1.6.3 Poland Asphalt Market By Application
12.3.1.6.4 Poland Asphalt Market By End-user
12.3.1.7 Romania
12.3.1.7.1 Romania Asphalt Market By Product
12.3.1.7.2 Romania Asphalt Market By Type
12.3.1.7.3 Romania Asphalt Market By Application
12.3.1.7.4 Romania Asphalt Market By End-user
12.3.1.8 Hungary
12.3.1.8.1 Hungary Asphalt Market By Product
12.3.1.8.2 Hungary Asphalt Market By Type
12.3.1.8.3 Hungary Asphalt Market By Application
12.3.1.8.4 Hungary Asphalt Market By End-user
12.3.1.9 Turkey
12.3.1.9.1 Turkey Asphalt Market By Product
12.3.1.9.2 Turkey Asphalt Market By Type
12.3.1.9.3 Turkey Asphalt Market By Application
12.3.1.9.4 Turkey Asphalt Market By End-user
12.3.1.10 Rest of Eastern Europe
12.3.1.10.1 Rest of Eastern Europe Asphalt Market By Product
12.3.1.10.2 Rest of Eastern Europe Asphalt Market By Type
12.3.1.10.3 Rest of Eastern Europe Asphalt Market By Application
12.3.1.10.4 Rest of Eastern Europe Asphalt Market By End-user
12.3.2 Western Europe
12.3.2.1 Western Europe Asphalt Market By Country
12.3.2.2 Western Europe Asphalt Market By Product
12.3.2.3 Western Europe Asphalt Market By Type
12.3.2.4 Western Europe Asphalt Market By Application
12.3.2.5 Western Europe Asphalt Market By End-user
12.3.2.6 Germany
12.3.2.6.1 Germany Asphalt Market By Product
12.3.2.6.2 Germany Asphalt Market By Type
12.3.2.6.3 Germany Asphalt Market By Application
12.3.2.6.4 Germany Asphalt Market By End-user
12.3.2.7 France
12.3.2.7.1 France Asphalt Market By Product
12.3.2.7.2 France Asphalt Market By Type
12.3.2.7.3 France Asphalt Market By Application
12.3.2.7.4 France Asphalt Market By End-user
12.3.2.8 UK
12.3.2.8.1 UK Asphalt Market By Product
12.3.2.8.2 UK Asphalt Market By Type
12.3.2.8.3 UK Asphalt Market By Application
12.3.2.8.4 UK Asphalt Market By End-user
12.3.2.9 Italy
12.3.2.9.1 Italy Asphalt Market By Product
12.3.2.9.2 Italy Asphalt Market By Type
12.3.2.9.3 Italy Asphalt Market By Application
12.3.2.9.4 Italy Asphalt Market By End-user
12.3.2.10 Spain
12.3.2.10.1 Spain Asphalt Market By Product
12.3.2.10.2 Spain Asphalt Market By Type
12.3.2.10.3 Spain Asphalt Market By Application
12.3.2.10.4 Spain Asphalt Market By End-user
12.3.2.11 Netherlands
12.3.2.11.1 Netherlands Asphalt Market By Product
12.3.2.11.2 Netherlands Asphalt Market By Type
12.3.2.11.3 Netherlands Asphalt Market By Application
12.3.2.11.4 Netherlands Asphalt Market By End-user
12.3.2.12 Switzerland
12.3.2.12.1 Switzerland Asphalt Market By Product
12.3.2.12.2 Switzerland Asphalt Market By Type
12.3.2.12.3 Switzerland Asphalt Market By Application
12.3.2.12.4 Switzerland Asphalt Market By End-user
12.3.2.13 Austria
12.3.2.13.1 Austria Asphalt Market By Product
12.3.2.13.2 Austria Asphalt Market By Type
12.3.2.13.3 Austria Asphalt Market By Application
12.3.2.13.4 Austria Asphalt Market By End-user
12.3.2.14 Rest of Western Europe
12.3.2.14.1 Rest of Western Europe Asphalt Market By Product
12.3.2.14.2 Rest of Western Europe Asphalt Market By Type
12.3.2.14.3 Rest of Western Europe Asphalt Market By Application
12.3.2.14.4 Rest of Western Europe Asphalt Market By End-user
12.4 Asia-Pacific
12.4.1 Asia Pacific Asphalt Market By Country
12.4.2 Asia Pacific Asphalt Market By Product
12.4.3 Asia Pacific Asphalt Market By Type
12.4.4 Asia Pacific Asphalt Market By Application
12.4.5 Asia Pacific Asphalt Market By End-user
12.4.6 China
12.4.6.1 China Asphalt Market By Product
12.4.6.2 China Asphalt Market By Type
12.4.6.3 China Asphalt Market By Application
12.4.6.4 China Asphalt Market By End-user
12.4.7 India
12.4.7.1 India Asphalt Market By Product
12.4.7.2 India Asphalt Market By Type
12.4.7.3 India Asphalt Market By Application
12.4.7.4 India Asphalt Market By End-user
12.4.8 Japan
12.4.8.1 Japan Asphalt Market By Product
12.4.8.2 Japan Asphalt Market By Type
12.4.8.3 Japan Asphalt Market By Application
12.4.8.4 Japan Asphalt Market By End-user
12.4.9 South Korea
12.4.9.1 South Korea Asphalt Market By Product
12.4.9.2 South Korea Asphalt Market By Type
12.4.9.3 South Korea Asphalt Market By Application
12.4.9.4 South Korea Asphalt Market By End-user
12.4.10 Vietnam
12.4.10.1 Vietnam Asphalt Market By Product
12.4.10.2 Vietnam Asphalt Market By Type
12.4.10.3 Vietnam Asphalt Market By Application
12.4.10.4 Vietnam Asphalt Market By End-user
12.4.11 Singapore
12.4.11.1 Singapore Asphalt Market By Product
12.4.11.2 Singapore Asphalt Market By Type
12.4.11.3 Singapore Asphalt Market By Application
12.4.11.4 Singapore Asphalt Market By End-user
12.4.12 Australia
12.4.12.1 Australia Asphalt Market By Product
12.4.12.2 Australia Asphalt Market By Type
12.4.12.3 Australia Asphalt Market By Application
12.4.12.4 Australia Asphalt Market By End-user
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Asphalt Market By Product
12.4.13.2 Rest of Asia-Pacific Asphalt Market By Type
12.4.13.3 Rest of Asia-Pacific Asphalt Market By Application
12.4.13.4 Rest of Asia-Pacific Asphalt Market By End-user
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 Middle East Asphalt Market By Country
12.5.1.2 Middle East Asphalt Market By Product
12.5.1.3 Middle East Asphalt Market By Type
12.5.1.4 Middle East Asphalt Market By Application
12.5.1.5 Middle East Asphalt Market By End-user
12.5.1.6 UAE
12.5.1.6.1 UAE Asphalt Market By Product
12.5.1.6.2 UAE Asphalt Market By Type
12.5.1.6.3 UAE Asphalt Market By Application
12.5.1.6.4 UAE Asphalt Market By End-user
12.5.1.7 Egypt
12.5.1.7.1 Egypt Asphalt Market By Product
12.5.1.7.2 Egypt Asphalt Market By Type
12.5.1.7.3 Egypt Asphalt Market By Application
12.5.1.7.4 Egypt Asphalt Market By End-user
12.5.1.8 Saudi Arabia
12.5.1.8.1 Saudi Arabia Asphalt Market By Product
12.5.1.8.2 Saudi Arabia Asphalt Market By Type
12.5.1.8.3 Saudi Arabia Asphalt Market By Application
12.5.1.8.4 Saudi Arabia Asphalt Market By End-user
12.5.1.9 Qatar
12.5.1.9.1 Qatar Asphalt Market By Product
12.5.1.9.2 Qatar Asphalt Market By Type
12.5.1.9.3 Qatar Asphalt Market By Application
12.5.1.9.4 Qatar Asphalt Market By End-user
12.5.1.10 Rest of Middle East
12.5.1.10.1 Rest of Middle East Asphalt Market By Product
12.5.1.10.2 Rest of Middle East Asphalt Market By Type
12.5.1.10.3 Rest of Middle East Asphalt Market By Application
12.5.1.10.4 Rest of Middle East Asphalt Market By End-user
12.5.2. Africa
12.5.2.1 Africa Asphalt Market By Country
12.5.2.2 Africa Asphalt Market By Product
12.5.2.3 Africa Asphalt Market By Type
12.5.2.4 Africa Asphalt Market By Application
12.5.2.5 Africa Asphalt Market By End-user
12.5.2.6 Nigeria
12.5.2.6.1 Nigeria Asphalt Market By Product
12.5.2.6.2 Nigeria Asphalt Market By Type
12.5.2.6.3 Nigeria Asphalt Market By Application
12.5.2.6.4 Nigeria Asphalt Market By End-user
12.5.2.7 South Africa
12.5.2.7.1 South Africa Asphalt Market By Product
12.5.2.7.2 South Africa Asphalt Market By Type
12.5.2.7.3 South Africa Asphalt Market By Application
12.5.2.7.4 South Africa Asphalt Market By End-user
12.5.2.8 Rest of Africa
12.5.2.8.1 Rest of Africa Asphalt Market By Product
12.5.2.8.2 Rest of Africa Asphalt Market By Type
12.5.2.8.3 Rest of Africa Asphalt Market By Application
12.5.2.8.4 Rest of Africa Asphalt Market By End-user
12.6. Latin America
12.6.1 Latin America Asphalt Market By Country
12.6.2 Latin America Asphalt Market By Product
12.6.3 Latin America Asphalt Market By Type
12.6.4 Latin America Asphalt Market By Application
12.6.5 Latin America Asphalt Market By End-user
12.6.6 Brazil
12.6.6.1 Brazil Asphalt Market By Product
12.6.6.2 Brazil Asphalt Market By Type
12.6.6.3 Brazil Asphalt Market By Application
12.6.6.4 Brazil Asphalt Market By End-user
12.6.7 Argentina
12.6.7.1 Argentina Asphalt Market By Product
12.6.7.2 Argentina Asphalt Market By Type
12.6.7.3 Argentina Asphalt Market By Application
12.6.7.4 Argentina Asphalt Market By End-user
12.6.8 Colombia
12.6.8.1 Colombia Asphalt Market By Product
12.6.8.2 Colombia Asphalt Market By Type
12.6.8.3 Colombia Asphalt Market By Application
12.6.8.4 Colombia Asphalt Market By End-user
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Asphalt Market By Product
12.6.9.2 Rest of Latin America Asphalt Market By Type
12.6.9.3 Rest of Latin America Asphalt Market By Application
12.6.9.4 Rest of Latin America Asphalt Market By End-user
13 Company Profile
13.1 CEMEX S.A.B. de C.V.
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Product/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Exxon Mobil Corporation
13.2.1 Company Overview
13.2.2 Financials
13.2.3 Product/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Royal Dutch Shell
13.3.1 Company Overview
13.3.2 Financials
13.3.3 Product/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Total SA
13.4.1 Company Overview
13.4.2 Financials
13.4.3 Product/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 United Refining Company
13.5.1 Company Overview
13.5.2 Financials
13.5.3 Product/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Boral
13.6.1 Company Overview
13.6.2 Financials
13.6.3 Product/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Aggregate Industries Ltd.
13.7.1 Company Overview
13.7.2 Financials
13.7.3 Product/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 China Petroleum & Chemical Corporation
13.8.1 Company Overview
13.8.2 Financials
13.8.3 Product/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Chevron Corporation
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Product/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Marathon Petroleum Corporation
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Product/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
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Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
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Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Polymer Solar Cells Market Size was valued at USD 0.10 billion in 2023 and is expected to reach USD 0.52 billion by 2031 and grow at a CAGR of 21.6% over the forecast period 2024-2031.
The Squalene Market size was valued at USD 150.26 million in 2023 and is expected to grow to USD 341.24 million by 2031 and grow at a CAGR of 10.8% over the forecast period of 2024-2031.
The Ammonia Market size was USD 214.26 billion in 2023 and is expected to Reach USD 331.20 billion by 2031 and grow at a CAGR of 5.6% over the forecast period of 2024-2031.
Polyethylene Foams Market Size was valued at USD 3.39 billion in 2022, and expected to reach USD 5.45 billion by 2030, and grow at a CAGR of 6.1 % over the forecast period 2023-2030.
The NVH Testing Market Size was valued at USD 2.21 billion in 2022, and expected to reach USD 3.37 billion by 2030, and grow at a CAGR of 5.4% over the forecast period 2023-2030.
The Copper Fungicides Market size was valued at USD 320 million in 2022. It is expected to grow to USD 476.4 million by 2030 and grow at a CAGR of 5.1% over the forecast period of 2023-2030.
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