Asphalt

US industry forecasts for 2011 & 2016

Publication Date	October 2009
Publisher	Freedonia Group
Product Type	Report
Pages	333
ISBN Number	not applicable
Product Code	FED00070

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Summary

US primary asphalt demand to increase 2.4 percent
annually through 2013 Demand for primary asphalt in the US is projected to increase 2.4 percent annually from a weak 2008 base. Demand will benefit in large part from renewed growth in highway capital spending and road improvement and repair activity. Gains in consumption will also derive in large part from an expected recovery in new home building, sparking increased demand for asphalt shingles and other roofing products, as well as paving asphalt used in driveways and roads.

Infrastructure improvements to spur paving product gains
Paving products represent the dominant outlet for primary asphalt, accounting for more than 80 percent of total demand. Consumption of asphalt paving products will benefit over the short term from stimulus spending, much of which was targeted at infrastructure improvements. Over the longer term, demand for asphalt paving products will be driven by the need to repair and upgrade existing roadways and from more stable petroleum pricing, which will expand the
amount of road surface being paved.

Residential applications to foster growth in asphalt roofing products
Demand for asphalt roofing products, the dominant roofing materials used in the United States, will increase 1.5 percent annually through 2013. Widely used in both residential and nonresidential roofing applications, asphalt roofing materials will benefit from the recovery in new residential construction, as well as continued gains in residential improvement and repair applications. In nonresidential markets, on the other hand, demand will decline slightly through 2013, reflecting a downturn in construction spending in that market segment.

South to remain top region
The South will remain the largest asphalt consuming region in the US, reflecting its large installed base of homes and revived growth in new housing completions. The region also possesses the largest installed base of highways and roads, supporting demand for asphalt paving products. The
Midwest, also a sizeable consumer of asphalt products, will benefit from a strong resurgence in new housing construction. In the West region, strong new housing
construction and road building will support gains in demand. Meanwhile, the Northeast will remain the smallest and slowest growing regional market.

Content

INTRODUCTION

     I. EXECUTIVE SUMMARY

     II. MARKET ENVIRONMENT
        General
        Macroeconomic Environment
        Demographic Trends
        Construction Trends
          Building Construction
           Residential Construction
            Housing Starts
            Housing Stock
            Improvements & Repairs
           Nonresidential Construction
            Office & Commercial
            Institutional
            Industrial
            Transportation & Other Buildings
            Improvements & Repairs
          Nonbuilding Construction
           Highway Mileage
           Public Highway Spending
        Petroleum Industry Trends
        Primary Asphalt Market Trends
        Primary Asphalt Market Seasonality
        Asphalt Products Pricing Trends
        Competitive Materials
        Foreign Trade
          Primary Asphalt
          Asphalt Products

    III. TECHNOLOGY & REGULATORY ISSUES
        General
        Technology
          Paving Technologies
           Hot-Mix Asphalt
           Asphalt Patch Technologies
           Bituminous Surface Treatment
           Thin Membrane Surface Treatment
           Granular Pavement
           Composite Pavements
           Open Grade Friction Courses
           Stone-Matrix Asphalt
           Warm-Mix Asphalt Paving
           Low Energy Asphalt
           Superpave
           Perpetual Pavements
           Competing Paving Technologies
          Asphalt Modifiers
          Roofing Asphalt Technologies
        Environmental & Regulatory Issues
          Recycling
          Environmental Issues
          Government Road Construction Funding

     IV. PRIMARY ASPHALT SUPPLY & DEMAND
        General
        Supply & Demand
        Primary Asphalt Types
        Primary Asphalt Demand by Use
          Paving Asphalts
           Asphalt Cement
           Asphalt Emulsions
           Cutback Asphalt
           Other Paving Products
          Roofing Asphalts
          Other Asphalts

     V. ASPHALT PRODUCTS
        General
        Demand Drivers
        Paving Products
          Asphalt Cement
          Asphalt Emulsions
          Cutback Asphalt
          Other Asphalt Paving Products
        Roofing Products
          Asphalt Shingles
          Roofing Asphalts
          Modified Asphalt Roofing Membranes
          Standard Asphaltic Roofing Felts
          Other Asphalt Roofing Products
        Other Asphalt Products
          Construction Products
          Nonconstruction Products

     VI. MARKETS
        General
        Construction
          Residential Building
           New
           Improvement & Repair
          Nonresidential Building
           New
           Improvement & Repair
          Nonbuilding
           New
           Improvement & Repair
        Nonconstruction Markets

    VII. REGIONS
        General
        Macroeconomic Overview
        Demographic Trends
        Construction Trends
        Housing Trends
        Primary Asphalt Capacity by Region
        Regional Asphalt Demand
          Northeast
           New England
           Middle Atlantic
          Midwest
           East North Central
           West North Central
          South
           South Atlantic
           East South Central
           West South Central
          West
           Mountain
           Pacific

    VIII. INDUSTRY STRUCTURE
        General
        Industry Composition
        Refined Primary Asphalt Market Share
        Asphalt Paving Products Market Share
        Asphalt Roofing Products Market Share
        Manufacturing
        Product Development
        Marketing & Distribution
        Acquisition & Divestiture Activity
        Cooperative Agreements
        Company Profiles
          Alon USA Energy Incorporated
          American Gilsonite Company
          APAC Atlantic Incorporated, see CRH
          Barrett Paving Materials Incorporated, see Bouygues
          BASF SE
          Berkshire Hathaway Incorporated
          Bouygues SA
          BP plc
          Bridgestone Corporation
          Building Materials Corporation of America
          CertainTeed Corporation, see Saint-Gobain
          Chevron Corporation
          CHS Incorporated
          Colas Incorporated, see Bouygues
          Colaska Incorporated, see Bouygues
          ConocoPhillips
          CPM Development Corporation, see CRH
          Crafco Incorporated, see Ergon
          CRH plc
          DAP Products Incorporated, see RPM
          Deer Park Refinery LP, see Royal Dutch Shell
          Delta Companies Incorporated, see Bouygues
          Des Moines Asphalt and Paving Company, see CRH
          Dexco Polymers LP, see Exxon Mobil
          Dolomite Group, see CRH
          DuPont (EI) de Nemours
          Ergon Incorporated
          Exxon Mobil Corporation
          Flint Hills Resources LP, see Koch Industries
          Fortifiber Corporation
          GAF Materials Corporation, see Building Materials
           Corporation of America
          Hanson Aggregates North America, see HeidelbergCement
          HeidelbergCement AG
          Henry Company
          Holly Corporation
          Hood Companies
          INVISTA BV, see Koch Industries
          Johns Manville Corporation, see Berkshire Hathaway
          Koch Industries Incorporated
          Lafarge SA
          Lion Oil Company, see Ergon
          Marathon Oil Corporation
          Michigan Paving & Materials Company, see CRH
          Montana Group, see CRH
          Murphy Oil Corporation
          NuStar Energy LP
          Oldcastle Materials Incorporated, see CRH
          Owens Corning
          Pennsy Supply Incorporated, see CRH
          Petroleos de Venezuela SA
          Pike Industries Incorporated, see CRH
          PJ Keating Company, see CRH
          Reeves Construction Company, see Bouygues
          Republic Powdered Metals Incorporated, see RPM
          Road Science LLC
          Royal Dutch Shell plc
          RPM International Incorporated
          Saint-Gobain
          SemGroup LP316
          Shelly Company, see CRH
          Simon Contractors Company, see Bouygues
          Sinclair Oil Corporation
          Sloan Construction Company, see Bouygues
          Slusser Brothers, see CRH
          Staker Parson Companies, see CRH
          Sunoco Incorporated
          TAMKO Building Products Incorporated
          Tilcon Connecticut Incorporated, see CRH
          Tilcon Delaware Incorporated, see CRH
          Tilcon New York Incorporated, see CRH
          Tremco Incorporated, see RPM
          Tricor Refining LLC, see Ergon
          Trumbull Asphalt, see Owens Corning
          Unique Paving Materials Corporation
          United Refining Company
          Valero Energy Corporation
          Vulcan Asphalt Refining Corporation, see United Refining
          Vulcan Materials Company
          Western Emulsions Incorporated
          WRB Refining LLC, see ConocoPhillips
          Wright Asphalt Products Company, see Alon USA Energy
          Ziegler Chemical & Mineral Corporation
        Other Companies Mentioned in the Study

                 LIST OF TABLES

TABLE NUMBER                                 PAGE

        SECTION I -- EXECUTIVE SUMMARY
        Summary Table

        SECTION II -- MARKET ENVIRONMENT
      1 Macroeconomic Indicators
      2 Population & Households
      3 Construction Expenditures
      4 Building Construction Expenditures
      5 Residential Building Construction Expenditures
      6 New Housing Indicators
      7 Housing Stock by Type
      8 Residential Improvement & Repair Expenditures
      9 Nonresidential Building Construction Expenditures
     10 Nonresidential Building Improvement & Repair Expenditures
     11 Nonbuilding Construction Expenditures
     12 US Highway Mileage
     13 Public Highway Spending
     14 Petroleum Products Supply & Demand
     15 Primary Asphalt Market, 1998-2008
     16 Asphalt Products Pricing
     17 Asphalt Products Foreign Trade

        SECTION IV -- PRIMARY ASPHALT SUPPLY & DEMAND
      1 Primary Asphalt Supply & Demand
      2 Primary Asphalt Demand by Use
      3 Primary Asphalt Demand in Paving
      4 Primary Asphalt Demand in Roofing
      5 Primary Asphalt Demand in Other Uses

        SECTION V -- ASPHALT PRODUCTS
      1 Asphalt Demand by Product
      2 Paving Products -- Asphalt Demand by Type
      3 Asphalt Cement Demand
      4 Asphalt Emulsions Demand
      5 Cutback Asphalt Demand
      6 Other Asphalt Paving Products Demand
      7 Asphalt Demand in Roofing Products
      8 Asphalt Demand in Asphalt Shingles
      9 Asphalt Demand in Roofing Asphalts
     10 Asphalt Demand in Modified Asphalt Roofing Membranes
     11 Asphalt Demand in Standard Asphaltic Roofing Felts
     12 Asphalt Demand in Other Roofing Products
     13 Asphalt Demand in Other Asphalt Products

        SECTION VI -- ASPHALT MARKETS
      1 Asphalt Demand by Market
      2 Asphalt Demand in Construction Markets
      3 Residential Markets for Asphalt
      4 New Residential Market for Asphalt
      5 Residential Improvement & Repair Market for Asphalt
      6 Nonresidential Building Markets for Asphalt
      7 New Nonresidential Building Market for Asphalt
      8 Nonresidential Building Improvement & Repair Market
          for Asphalt
      9 Nonbuilding Construction Markets for Asphalt
     10 New Nonbuilding Construction Market for Asphalt
     11 Nonbuilding Improvement & Repair Market for Asphalt
     12 Nonconstruction Market for Asphalt

        SECTION VII -- DEMAND BY REGION
      1 Gross Domestic Product by Region
      2 Population By Region
      3 Construction Expenditures By Region
      4 Regional Housing Indicators
      5 US Primary Asphalt Capacity by Region, 2008
      6 Asphalt Demand by Region & Type
      7 Northeast Asphalt Demand
      8 New England Asphalt Demand
      9 Middle Atlantic Asphalt Demand
     10 Midwest Asphalt Demand
     11 East North Central Asphalt Demand
     12 West North Central Asphalt Demand
     13 South Asphalt Demand
     14 South Atlantic Asphalt Demand
     15 East South Central Asphalt Demand
     16 West South Central Asphalt Demand
     17 West Asphalt Demand
     18 Mountain Asphalt Demand
     19 Pacific Asphalt Demand

        SECTION VIII -- INDUSTRY STRUCTURE
      1 US Primary Asphalt Capacity by Producer, 2008
      2 Asphalt Paving Products Sales by Company, 2008
      3 Asphalt Roofing Products Sales by Company, 2008
      4 Selected Acquisitions & Divestitures
      5 Selected Cooperative Agreements

                 LIST OF CHARTS

CHART NUMBER                                 PAGE

        SECTION II -- MARKET ENVIRONMENT
      1 Year of Construction of Housing Stock, 2008
      2 Primary Asphalt Market, 1999-2008
      3 Primary Asphalt Market Seasonality
      4 Primary Asphalt Foreign Trade, 2008

        SECTION IV -- PRIMARY ASPHALT SUPPLY & DEMAND
      1 Primary Asphalt Flow Chart
      2 Primary Asphalt Demand by Use, 2008

        SECTION V -- ASPHALT PRODUCTS
      1 Asphalt Demand by Product, 2008: Weight & Value
      2 Paving Products -- Asphalt Demand by Type, 2008
      3 Roofing Products -- Asphalt Demand by Type, 2008

        SECTION VI -- ASPHALT MARKETS
      1 Asphalt Demand in Construction Markets, 2008

        SECTION VII -- DEMAND BY REGION
      1 US Primary Asphalt Capacity by Region, 2008
      2 Asphalt Demand by Region, 2008

        SECTION VIII -- INDUSTRY STRUCTURE
      1 Primary Asphalt Capacity by Producer, 2008
      2 Asphalt Paving Products Market Share, 2008
      3 Asphalt Roofing Products Market Share, 2008