Bitumen is a dark brown complex mixture composed of hydrocarbons of different molecular weights and their non-metallic derivatives. It is a kind of high-viscosity organic liquid. It mostly exists in the form of liquid or semi-solid petroleum. The surface is black and soluble in Carbon disulfide, carbon tetrachloride, and asphalt are organic gelling materials that are waterproof, moisture-proof and anti-corrosion. At present, as the weather gets colder, terminal construction gradually stagnates, and downstream demand continues to weaken, it is expected that asphalt prices will still have some room to fall in the short term.

The development of my country's asphalt industry has entered a mature stage. In recent years, the country has continuously increased the importance of asphalt in terms of energy efficiency improvement, pollution prevention and recycling, and has introduced a series of policies to promote the use of green asphalt and prevent asphalt. Air pollution, and carry out special supervision on the implementation of mandatory unit product energy consumption quota standards for key related enterprises. Shandong Province is a major province of asphalt production in my country, and its production capacity has always been the highest among all regions. According to statistics, Shandong Province will account for 35% of my country's total asphalt production capacity in 2022.

According to the "2022-2027 China Asphalt Industry Market Panoramic Research and Development Prospect Forecast Report" released by the China Research Institute of Puhua Industry:

Large state-owned enterprises in China's asphalt industry generally use their petrochemical product industry chain to expand downwards, but asphalt products are not their main business products. Even so, their brand advantages are relatively large, such as Donghai brand asphalt and Kunlun brand asphalt are still some projects The specified bitumen brand. Moreover, Sinopec and PetroChina are two asphalt producers whose markets cover the whole country. Pitch can be mainly divided into three types: coal tar pitch, petroleum pitch and natural pitch. Among them, coal tar pitch is a by-product of coking. Petroleum asphalt is the residue after distillation of crude oil. Natural bitumen is stored underground, and some form ore layers or accumulate on the surface of the earth's crust. Asphalt is mainly used in coatings, plastics, rubber and other industries as well as paving roads.

Domestic professional asphalt production companies also include Baoli Asphalt, Guochuang High-tech, etc. Such enterprises are more deeply involved in professional asphalt in roads and bridges such as expressways, ordinary roads, elevated roads, and bridge decks. Medium-sized enterprises such as Shanghai Qunkang Asphalt Technology Co., Ltd. and Chongqing Zhongjiao Renewable Resources Development Co., Ltd. mainly sell colored asphalt, colored pavement maintenance materials, asphalt additives, special asphalt, etc. Small companies are deeply involved in subdivided fields. For example, Jurong Ningwu Technology Development Co., Ltd. focuses on the field of epoxy asphalt, and Jiangsu Xierma Road Environmental Protection Materials Co., Ltd. focuses on the research and development of fog seal materials.

Large state-owned enterprises in China's asphalt industry generally use their petrochemical product industry chain to expand downwards, but asphalt products are not their main business products. Even so, their brand advantages are relatively large, such as Donghai brand asphalt and Kunlun brand asphalt are still some projects The specified bitumen brand. Moreover, Sinopec and PetroChina are two asphalt producers whose markets cover the whole country. Pitch can be mainly divided into three types: coal tar pitch, petroleum pitch and natural pitch. Among them, coal tar pitch is a by-product of coking. Petroleum asphalt is the residue after distillation of crude oil. Natural bitumen is stored underground, and some form ore layers or accumulate on the surface of the earth's crust. Asphalt is mainly used in coatings, plastics, rubber and other industries as well as paving roads.

Domestic professional asphalt production companies also include Baoli Asphalt, Guochuang High-tech, etc. Such enterprises are more deeply involved in professional asphalt in roads and bridges such as expressways, ordinary roads, elevated roads, and bridge decks. Medium-sized enterprises such as Shanghai Qunkang Asphalt Technology Co., Ltd. and Chongqing Zhongjiao Renewable Resources Development Co., Ltd. mainly sell colored asphalt, colored pavement maintenance materials, asphalt additives, special asphalt, etc. Small companies are deeply involved in subdivided fields. For example, Jurong Ningwu Technology Development Co., Ltd. focuses on the field of epoxy asphalt, and Jiangsu Xierma Road Environmental Protection Materials Co., Ltd. focuses on the research and development of fog seal materials.

Panoramic survey and analysis of China's asphalt industry market 2023

The main industry participants of professional asphalt in my country are composed of large international petrochemical companies, large domestic petrochemical system companies and domestic professional asphalt manufacturers. International large-scale petrochemical companies, such as Koch Group of the United States, BP of the United Kingdom, Shell Petroleum Company of the Netherlands, and SK Group of South Korea, etc., have strong capital advantages, brand advantages and technological advantages. The mode of looking for Chinese-funded agents is carried out. Domestic large-scale petrochemical companies, including petrochemical companies under the PetroChina, Sinopec, and CNOOC systems, use the group's petrochemical product industry chain to expand downwards, but professional asphalt products are not their main business products and cannot fully cover all subdivisions. On the other hand, related additives for professional asphalt, products from Europe and the United States still have certain advantages.

Because crude oil, the upstream product of asphalt, is greatly affected by international oil prices, and professional asphalt producers have a low degree of backward integration with the upstream, so suppliers have high bargaining power; asphalt is rich in varieties and strong in specificity, but the technology of large categories of products Mature and highly standardized, so the bargaining power of downstream consumers is high; large state-owned enterprises such as PetroChina and Sinopec have strong control over raw materials and have obvious brand advantages, so the threat of new entrants is relatively small; there are no obvious substitutes for asphalt products. The product threat is very small; there are many small and medium-sized enterprises in the asphalt industry, and the competition is fierce.

There are a large number of professional asphalt production enterprises in my country but small in scale, the industry concentration is not high, and the core competitiveness of the industry is not strong; compared with mature markets in developed countries, the gap in the industrial concentration of my country's professional asphalt industry is very obvious. In the future, with the in-depth advancement of a series of measures such as industrial integration and support for the development of high-quality enterprises, some enterprises with technology, capital and brand advantages will further become bigger and stronger, and obtain better customer base and more Many technical patents.

Zhang Jiangyu, director of the Transportation System Research Center of the National Development and Reform Commission, once said: "During the '14th Five-Year Plan' period, the scale of national highway construction will continue to increase, and the total scale of expressway construction will reach 66,100 kilometers. It will reach 209,600 kilometers." This will provide a broad space for the development of my country's asphalt industry, and the market demand for ordinary and modified asphalt will still be in a fast-growing channel in the future. The central government has allocated a total of 2.12 trillion yuan in five years, of which 44% is used to support the construction of national highways, ordinary national and provincial highways and other highways and their post-disaster restoration and reconstruction; 22% is used to support rural roads and county and township road security projects, etc. Micro-circulation network construction; 17% is used to support road maintenance and road disaster repairs. In addition, 121.5 billion yuan was allocated to support the equalization of urban and rural public services such as rural passenger transport and taxis, and 14.8 billion yuan was allocated for the construction of supporting facilities for all 487 provincial border toll stations across the country.