PUNE, India, Jan. 9, 2020 /PRNewswire/ -- Bitumen Emulsifier: Rise in demand for road construction activities across world, owing to growing population and favorable government initiatives are significantly driving the bitumen emulsifier market during the projected period.
Bitumen Emulsifier Market Overview 2026:
Global market size stood at $113.6 million in 2018 and is projected to grow at a CAGR of 4.2% over the forecast duration from 2019 to 2026. Increased use of bitumen emulsion in road construction activities is one of the major bitumen emulsifier industry insights.
Bitumen is a dark viscous substance that is produced by mixing tiny particles of petroleum distillation. It is a vital component of asphalt used to build roads and other transportation and infrastructure elements.
Bitumen Emulsifier Market Drivers:
Some major trends are the increase in the road construction activities across the globe. Within the less span of time bitumen emulsifier delivers the coating in all workable conditions which is mainly used for road maintenance.
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Asia-Pacific region will be having the significant growth opportunity for the global market as the market have perceiving a consistence growth in the construction activities due to the presence of the developing countries like China and India. The extensive use of bitumen emulsion these region is growing and is expected to continue the trend in the nearby future
Based on the product type the global market has been segmented into Anionic, Cationic and Non- Ionic. Cationic bitumen emulsifier market growth will be at a CAGR of 4.4%, increasing from $85.7 million in 2018, and is further projected to grow at a CAGR of 4.4% during the forecast period. The nonionic emulsifier has a goof compatibility with different type of emulsifier and due to this, they are preferred over other types. Cationic bitumen emulsifiers act as a good aggregator when used with different metals and t is projected to witness the fastest growth rate of 4.4%. CAGR
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Based on the application, the market is bifurcated into mixing and spray. Mixing application held a measure size of $36.0 million in 2018, owing to the leading product consumption during the road construction activities. In this mixing application, the hot bitumen is mixed with water containing emulsifying agent. In spraying, bitumen emulsifier is sprayed by a thin layer on the construction structure, followed by the settling down of a layer of aggregate. Bitumen emulsifier market share for spraying was over 65% in 2018, and is further expected to grow at a CAGR of 4.0% during the projected period.
Based on the setting type, the bitumen emulsion market can be classified into slow setting emulsion, medium setting emulsion, and rapid setting emulsion. Rapid setting bitumen emulsifier market share was more than 40% in 2018, and generated a revenue of $45.8 million. The growth of this segment is preferred to have an increasing demand for mixing applications of bitumen emulsions.
Depending upon the end-product, the market is segmented into unmodified and modified bitumen. In 2018, the demand for modified bitumen emulsions was $19.1 million and will expand at 5.1% CAGR. This product is mostly used for construction of buildings and pavements through thermoplastic polymers, thermoplastic elastomers, and thermosetting polymers.
Regional Growth of Bitumen Emulsifier Market:
Asia-Pacific market accounts for the global market's dominant share. This area is experiencing significant growth in the construction industry, primarily in developing economies like China, led by India, due to the growth of new infrastructure activities. North America bitumen emulsifier market size was $20.3 million in 2018, and is further projected to grow at a CAGR of 3.8%. This is primarily due to the increasing construction activity in U.S. suburban areas.
Key Players in The Global Bitumen Emulsifier Market Include:
- Indian Oil Corporation IOC
- British Petroleum BP
- Chevron Texaco Corporation CVX
- JX Nippon Oil & Energy Corporation
- Royal Dutch Shell Plc
- Total S.A.
- Nynas AB
- Marathon Oil Company
- China Petrochemical Corporation
Bitumen emulsifier market developments include mergers & acquisitions, joint ventures and product launches.
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