New York, USA, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Due to the pandemic across the globe, the Bitumen Emulsifier Market witnessed a negative growth in the forecast period. The bitumen emulsifier market is predicted to recover by Q3/Q4 of 2022. The market is predicted after the pandemic with the rise in the road construction activities. Moreover, the government initiative for expansion of construction activities to support modernization is predicted to be the major driving factor for the bitumen emulsifier market in the estimated period. The short shelf life of bitumen emulsifier is predicted to be the biggest restraint for the market. As bitumen turns dry after a span of time, it becomes difficult to reuse. This is predicted to hamper the market growth in the forecast period. Moreover, the development of toxic-free bio asphalt and environmentally friendly asphalt is predicted to create a huge opportunity in the bitumen emulsifier market in the forecast period.
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- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
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As per a new report published by Research Dive, the global bitumen emulsifier market is set to generate a revenue of $ 154.3 million by 2026, at a CAGR of 3.9% during the estimated period from 2019 to 2026. The segmentation of the market has been done on the basis of type, type of setting, application end use and region. The report provides in-depth insights on drivers, vital segments, opportunities, restraints, and key players of the market.
Factors Affecting the Market Growth
As per our analysts, rise in the use of bitumen emulsifier for road construction activities is predicted to boost the bitumen emulsifier market in the forecast period. Moreover, adverse effect on the environment by using bitumen is predicted to hinder the market growth in the forecast period.
Cationic Type Is Predicted to Have the Highest Growth Rate
On the basis of type, the bitumen emulsifier market is classified into anionic, cationic and non-ionic. Cationic segment accounted for $85.7 million in 2018 and is predicted to grow at 4.2% CAGR by 2026. In most of the construction sites the cationic type is being used vastly due to the various chemical properties of the emulsifier, including dissolution in water, which is predicted to boost the segment in the forecast period.
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Spray Application Is Predicted to Have the Highest Market Share
On the basis of application, the bitumen emulsifier market is classified into mixing and spray. Spray application accounted for $77.0 million in 2018 and is predicted to grow at a CAGR of 3.7% in the estimated period. Spray application is the most widely used application as with the help of spraying, bitumen conveniently binds the substance with the aggregator.
Rapid Setting Segment Is Predicted to Generate the Highest Revenue
On the basis of type of setting, the bitumen emulsifier market is classified into slow, medium and rapid. Rapid segment accounted for $45.8 million in 2018 and is predicted to rise at a 4.3% CAGR by 2026. The rapid recovery of bitumen emulsifier with the aggregator and faster rate of drying is predicted to boost the segment in the forecast period.
Unmodified Bitumen Segment Is Predicted to Generate the Highest Revenue
On the basis of end use, the bitumen emulsifier market is classified into unmodified bitumen and polymer modified bitumen. Unmodified bitumen segment was $94.5 million in 2018 and is predicted to grow at 3.7% CAGR by 2026. Manufacturers use unmodified bitumen in most of the construction activities for better binding of bitumen, which is obtained in the initial stage of extracting where the bitumen is raw. This is predicted to boost the segment in the forecast period.
Regional Breakdown of The Market
On the basis of region, the global bitumen emulsifier market is classified into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific market generated a revenue of $40.3 million in 2018 and is predicted to grow with a CAGR of 4.6% in the forecast period. Government initiative for the increasing in the construction activities and rise in the road construction activities is predicted to boost the region market in the estimated period.
Top Companies in Bitumen Emulsifier Market
- Indian Oil Corporation
- British Petroleum
- Chevron Texaco Corporation
- JX Nippon Oil & Energy Corporation
- Royal Dutch Shell Plc
- Total S.A.
- Nynas AB
- Marathon Oil Company
- China Petrochemical Corporation