The latest report titled “Asphalt Production” by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the production process of Asphalt.
Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, production cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the production process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
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Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along with a detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry that might influence Asphalt production cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Procurement Resource Assessment of Asphalt Production Process:
- Asphalt Production From Crude Oil Distillation: This report presents the extensive cost requirement of Asphalt industrial production across Asphalt manufacturing plants. In this method, the batch distillation of crude oil takes place; where the first stage is the boiling of the oil at many temperature ranges after piping the crude oil; 150 °F, 450 °F, and 750 °F. Next, based on their vaporization temperatures, every fraction is vaporized in line with this temperature range. At last, asphalt is produced as other crude oil components (butane, gasoline, naphtha) are vaporized with their vaporization temperature via the batch distillation process.
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Product Definition:
Asphalt, or bitumen, is a very viscous liquid that is petroleum's glassy semi-solid form. It is a commodity that is naturally found on the planet in the form of deposits that can be refined further and classified as a pitch. There are various kinds of grades of asphalt, including natural, residual, mastic, asphalt cement, cutback asphalt and asphalt emulsion. It appears to be brown or black liquid with a sticky consistency. It mainly comprises of a binder, fillers, and aggregates, which makes it a great choice for the construction sector. It mainly includes elements such as sulphur, carbon, oxygen, hydrogen, and nitrogen, and some amounts of nickel, iron, and vanadium too. It has great properties like being waterproof, high viscosity, plasticity and temperature sensitivity.
Market Drivers:
Asphalt is mainly used in the construction industry owing to its composition, including binder, aggregates, and filler, to develop and maintain roads, railway tracks, bicycle lanes, parking areas, ports, airport runways, sidewalks, and sports areas. The commodity has several other applications, such as road surfacing, making the lining of canals and reservoirs, dam facings, and other sea and harbour works. It can also be used for applications like coatings, roofs, soundproofing, floor tilings, waterproofing, and other construction activities, along with being used in batteries. Hence, the broad end-user spectrum of the commodity is boosting its market growth.
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