New York, USA, Feb. 07, 2023 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global bitumen emulsifier market is anticipated to generate $184.4 million in revenue and rise at a CAGR of 3.6% throughout the estimated period from 2022 to 2031.
As per our analysts, with the increasing rate of road construction activities all across the world, the global bitumen emulsifier market is predicted to experience prominent growth during the analysis timeframe. Besides, the increasing investments in roadway development due to rising modernization is expected to bolster the growth of the market throughout the estimated timeframe. Moreover, the growing urbanization and expanding economy are predicted to create wide growth opportunities throughout the forecast period. However, the storage duration and environmental conditions may hamper the growth of the market throughout the estimated period.
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Segments of the Bitumen Emulsifier Market
The report has divided the market into segments based on surface charge, setting time, application, and region.
Surface Charge: Cationic Sub-Segment to be Most Productive
The cationic sub-segment is expected to hold the largest share of the market during the forecast period. The increasing use of cationic bitumen emulsifiers for a variety of road and building development and maintenance tasks due to their superior coating and adhesion qualities is expected to upsurge the growth of the market sub-segment during the analysis timeframe.
Setting Time: Rapid Setting Sub-Segment to be Profitable
The rapid setting sub-segment is predicted to hold the highest share of the market throughout the estimated period. The growing use of rapid bitumen emulsion for tacking coat applications because of its low viscosity and quick setting time is predicted to augment the growth of the market sub-segment during the forecast period.
Application: Binder Sub-Segment to be Most Lucrative
The binder sub-segment is expected to hold the dominant revenue of the market over the analysis timeframe. The increasing use of bituminous binder emulsion in the creation of tack coatings with a trackless finish is expected to propel the growth of the market during the estimated period.
Asia-Pacific Region to Hold the Maximum Share of the Market
The Asia-Pacific region of the bitumen emulsifier market is predicted to hold the greatest share of the market throughout the forecast period. This is mainly due to the availability of trained labor and raw materials in this region. Moreover, the rising expansion of public infrastructures such as motorways, roads, and airports in this region is predicted to drive the regional growth of the market over the estimated period.
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Covid-19 Impact on the Bitumen Emulsifier Market
The outbreak of the Covid-19 pandemic has negatively impacted the bitumen emulsifier market. This is mainly due to the prolonged lockdown imposed by the government of many nations to check the spontaneous spread of the deadly virus. All these factors have stopped road construction activities and declined market growth during the pandemic period. However, the increasing use of diverse emulsifiers for roadways development post-pandemic period to establish an economy, boost tourism, and connect different locations, is expected to create major growth opportunities for the market.
Key Players of the Market
The major players of the bitumen emulsifier market include
- Total S.A.
- JX Nippon Oil & Energy Corporation
- Nynas AB
- Royal Dutch Shell Plc.
- Marathon Oil Company
- Chevron Texaco Corporation
- Opal Paints Products Pvt Ltd.
- Indian Oil Corporation
- China Petrochemical Corporation
- British Petroleum
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.
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For instance, in July 2020, the Indian Oil Corporation, a central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India, announced its partnership with Total, a French multinational integrated energy, and petroleum company. With this partnership, the companies aimed to manufacture and market high-quality bitumen derivatives and specialty products for the rapidly growing road-building industry in India.
Further, the report also presents other important aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Bitumen Emulsifier Market:
- 4 Exclusive Applications of Bitumen Emulsifier in the Road Construction Industry
- Global Bitumen Emulsifier Market to Experience Massive Growth with Rising Road Construction Activities
