my country’s petroleum asphalt production has declined, with Shandong having the largest production

Petroleum asphalt is a product of crude oil processing. It mostly appears as a black or dark brown viscous liquid or solid at normal temperatures and pressures. Its components are mostly hydrocarbons and non-hydrocarbon derivatives. The properties of the product will vary depending on the production method and crude oil. There will be certain changes depending on the source. At this stage, my country’s petroleum asphalt preparation technology is gradually mature, which can be roughly divided into emulsification method, blending method, oxidation method, distillation method, solvent precipitation method, etc.

From the upstream of the industrial chain, crude oil is the main raw material for petroleum asphalt production, and market development is closely related to the crude oil market. In recent years, my country’s economy and society have developed rapidly, the degree of industrialization has gradually deepened, the demand for crude oil has continued to increase, and production has continued to grow. According to data released by the National Bureau of Statistics, my country’s crude oil production will be 204.722 million tons in 2022, an increase of 2.94% from 2021. my country’s crude oil production continues to grow, and the supply of petroleum asphalt raw materials is more abundant.

According to the “China Petroleum Asphalt Industry Investment Potential and Development Prospects Research Report 2023-2027” released by the Industrial Research Center, petroleum asphalt It is mostly used as industrial raw materials or infrastructure materials, and is mostly used in road transportation, water conservancy projects, construction and other fields. In recent years, my country’s urbanization process has continued to accelerate, highway transportation construction has gradually improved, and the market demand for petroleum asphalt has increased accordingly. And petroleum asphalt, as a waterproof material, is widely used in building waterproofing and underground waterproofing projects. However, affected by the epidemic, the operating rate of my country’s petroleum asphalt companies has gradually declined, and output has decreased. According to data released by the National Bureau of Statistics, my country’s petroleum asphalt production will be 38.494 million tons in 2022, a year-on-year decrease of 30.66%.

From the perspective of output distribution, my country’s petroleum asphalt production areas are mainly distributed in Jiangsu, Shandong, Guangdong, Liaoning, Hebei, Zhejiang and other provinces. Among them, Shandong has become the region with the largest production of petroleum asphalt in my country, with a production share of 46.38%; followed by Liaoning Province, with a production share of 10.49%; Jiangsu Province ranks third, with a production share of 10.08%.

Since there is a certain gap between my country’s petroleum asphalt production and market demand, imports from abroad are needed to fill this gap. However, due to the epidemic, my country’s petroleum asphalt imports have decreased. According to data released by the General Administration of Customs, my country’s petroleum asphalt imports in 2022 will be 2.9337 million tons, a year-on-year decrease of 8.56%. From the perspective of import source countries, my country’s petroleum asphalt is mainly imported from South Korea, Malaysia, Singapore, the United Arab Emirates, Thailand and other countries. Among them, South Korea has become my country’s largest source of petroleum asphalt imports, accounting for 59.28% of total imports.

Industry analysts said that at present, my country’s largest petroleum asphalt companies mainly include Hongrun Petroleum, Baoli Asphalt, and Changtai Chemical , Northern Asphalt, Dongming Petrochemical, etc. As my country’s industrial structure gradually upgrades, the pace of corporate mergers and acquisitions in the asphalt industry accelerates, companies with financial and technological advantages will further strengthen, and market concentration is expected to increase.