Pune, June 29, 2022 (GLOBE NEWSWIRE) -- The global bitumen emulsifier market size is projected to hit $72.54 million by 2028 and exhibit a CAGR of 5.6% during the 2021-2028 period. The expanding road construction activities and the rising demand for bitumen emulsion are expected to be the key factors boosting the market growth. Fortune Business Insights™ has presented this information in its report. The market size stood at $46.37 million in 2020 and $49.51 million in 2021. Additionally, the development of eco-friendly resins is likely to be a key trend stimulating market growth in the forthcoming years.
List of Key Market Players-
- Arkema Group (Colombes, France)
- Evonik Industries (Essen, Germany)
- Croda International (Snaith, U.K.)
- Tristate asphalts LLC (New York, U.S.)
- Nouryon (Amsterdam, Netherlands)
- RAHA Bitumen (Isfaha, Iran)
- Opal Paint Products (Noida, India)
- RX Marine International (Mumbai, India)
- Kao Corporation (Tokyo, Japan)
- T-Pave International (Garden city, Singapore)
- Ingevity Corporation (South Carolina, U.S.)
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Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2021 | USD 49.51 Million |
| Revenue forecast in 2028 | USD 72.54 Million |
| Growth Rate | CAGR of almost 5.6% 2021-2028 |
| Base Year | 2020 |
| Historic Years | 2017 - 2019 |
| Forecast Years | 2021 – 2028 |
| Segments Covered | By Product Type, By Application, and By End Use |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | are Arkema Group, Evonik Industries, Croda International, Tristate asphalts LLC, Nouryon, RAHA Bitumen, Opal Paint Products, RX Marine International, Kao Corporation, T-Pave International, Ingevity Corporationc |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Segments-
On the basis of type, the market is trifurcated into non-ionic, anionic, and cationic. On the basis of application, the market is bifurcated into modified bitumen and unmodified bitumen. Geographically, the market is classified into Latin America, Europe, Asia Pacific, North America, and the Middle East & Africa.
Report Coverage-
- It provides a comprehensive market analysis.
- It assesses the various growth strategies adopted by major market players.
- It highlights the impact of the COVID-19 pandemic.
- It includes the latest industry developments.
- It covers a detailed analysis of the various market segments: type, application, and regions.
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Drivers & Restraints-
Increasing Road Construction to Fuel Market Growth
Bitumen emulsion plays a vital role in road construction. The economic advantages significantly boost the demand for bitumen emulsions. Additionally, the lesser VOC emissions by bitumen emulsions are anticipated to fuel their demand in various construction activities. This, in turn, is likely to boost the global bitumen emulsifier market growth.
Additionally, the growing construction of roads and highways across developing nations, such as India and China, is anticipated to amplify the market growth. The high ability to mix with latex and cement, easy handling, and environment-friendly nature are some of the factors fueling the demand for bitumen emulsifiers in road construction activities.
However, the corrosive nature of the product may hinder the market growth.
Regional Insights-
Increasing Public Infrastructure Development to Boost Growth in Asia Pacific
Asia Pacific is likely to witness exponential growth in the global bitumen emulsifier market share. The availability of skilled labor and raw materials across countries such as India and China is likely to bolster the construction industry, which in turn, is projected to amplify the market growth for bitumen emulsifiers. Moreover, the increasing development of public infrastructures, including airports, highways, roads, and others, are likely to boost the market growth.
Europe is anticipated to register exemplary growth in the global market. The presence of large production bases in countries such as the Netherlands, Italy, France, and Germany, coupled with the high demand for cationic emulsions is predicted to favor the market growth.
North America is expected to gain substantial growth due to the rising adoption of bitumen emulsions. The growing awareness for the adoption of eco-friendly products boosts the market growth further.
The Middle East & Africa and Latin America are likely to register considerable growth due to the rising urbanization and industrialization across UAE, Saudi Arabia, Colombia, Argentina, and Brazil.
Competitive Landscape-
Major Market Players Launch New Products to Amplify their Revenues
The market is fragmented and comprises a large number of global players. Croda International, Nouryon, Arkema, and Evonik are among the key players. The major players emphasize strategic alliances to achieve competitive advantages and increase their market shares. They also adopt new product launches, mergers, acquisitions, and others to magnify their market penetration. For instance, Nouryon launched a new sustainable advanced adhesion promoter under the brand ‘WetFix G400’ in April 2019.
Key Industry Development:
April 2019 - Nouryon launched a sustainable ingredient for applications of bitumen. The company launched a new advanced adhesion promoter under the brand name WetFix G400.
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Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Bitumen Emulsifier Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
TOC Continued…!
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