The growth of the bitumen emulsifiers market is powered by mounting investments towards the development of green buildings, rapid urbanization, infrastructural upgradation, and increasing number of residential & commercial building projects in the APAC region.
Selbyville, Delaware, Oct. 20, 2021 (GLOBE NEWSWIRE) -- As per the latest research report by Global Market Insights Inc., the Bitumen Emulsifiers Market was estimated at $245 million in 2020 and is slated to exceed USD 340 million by 2027, registering a CAGR of 4.6% from 2021 to 2027. The report offers a detailed assessment of top winning strategies, wavering market trends, competitive scenario, market size & estimations, drivers & opportunities, and major investment pockets.
Bitumen emulsifiers refer to a liquified form of bitumen that has a low viscosity. Emulsions make bitumen easy to handle, transport, store, and apply at a lower temperature. As this type of bitumen is in liquid form, there is no need to heat the substance before application. Furthermore, the use of cold techniques to apply bitumen emulsifiers can reduce energy consumption, making road construction eco-friendlier. As a result, the ease of application decreased costs, and the energy efficiency of bitumen emulsifiers is anticipated to foster the bitumen emulsifiers market outlook over the forecast period.
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Non-ionic bitumen emulsifiers can deliver higher emulsifier density at the bitumen/water interface, which has attracted several manufacturers towards these products. Moreover, these emulsifiers are utilized in a wide array of applications. Driven by their versatility and ability to offer high emulsifier density, the bitumen emulsifiers industry from the non-ionic product segment is projected to expand at a CAGR of approximately 4% through 2027.
Key reasons for bitumen emulsifiers market growth:
Widespread product usage in paving and roofing applications.
Increasing utilization across the building & construction sector.
Growing adoption in road construction and maintenance activities.
2027 forecasts show ‘polymer-modified’ segment retaining its dominance:
With respect to end-use, the polymer-modified segment is slated to progress at around 5.5% CAGR over the analysis period to reach a considerable valuation through 2027 due to the superior tensile strength and elasticity of polymer-modified bitumen emulsions, they are used extensively in road construction activities and roofing applications. The superior performance of polymer-modified bitumen emulsifiers in paving and roofing applications is set to further support the segmental development. However, high costs of production and complex manufacturing process are anticipated to hamper product adoption in developing countries.
The Asia Pacific to maintain top status in terms of revenue:
Asia Pacific bitumen emulsifiers market is estimated to garner more than 10% share in the overall industry revenue by 2027 driven by the surging number of road construction activities in many countries across APAC. These activities would majorly be observed in China as the country has one of the biggest road networks worldwide. Additionally, Thailand, India, and other southeast Asian nations are also investing significantly in road development projects, which is foreseen to contribute to APAC bitumen emulsifiers industry growth in the future.
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Impact of COVID-19 pandemic on bitumen emulsifiers market:
The COVID-19 outbreak impacted virtually all industries, disrupting the global supply chain. It especially hindered the construction industry as it brought building & construction projects to a halt in order to curb the transmission of the virus on sites. With successful vaccination drives and prominent emphasis on economic recovery globally, the construction industry is gradually regaining its pre-COVID momentum.
Subsequently, with surging demand for novel construction and renovation projects and restricted supply of raw materials required for construction activities, there has been an upsurge in prices of these components during the pandemic. Moreover, increased product uptake in roofing applications, particularly in regions that experience harsh weather conditions, has been favorable for bitumen emulsifiers market share in recent years.
Leading market players:
Key companies operating in the bitumen emulsifiers industry include Arkema Group, Nouryon, Evonik, ENFALT, Ingevity Corporation, Opal Paints Products Pvt. Ltd., Vizag Chemicals, Vialit, Petrochem Specialities, Kao Corporation, Shaoxing Shangyu Simo Research Institute of Organic Chemistry, The Dow Chemical Company, RX Marine International, Chemoran, Pinova, Inc., and G R Infraprojects Ltd. (GRIL), among others.
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