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 forecast 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.
COVID-19 Analysis:
Bitumen emulsifier has a declining growth due to the pandemic. The market is predicted to have a negative impact in the forecast period. The primary factor for the growth of bitumen emulsifier market before COVID-19 was due to the increasing road construction activities across the globe. At present, the world is under a complete shut down and the major construction activities have been stopped, which have created a negative impact on the global bitumen emulsifier market.
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Construction of roadways in most of the countries and massive investment done in the construction activities by the government to boost modernization is predicted to be the major driving factor for the market in the forecast period. The major problem is the short storage time, which is predicted to hinder the bitumen emulsifier market 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. Our report includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
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 be Most Lucrative in The Market.
Depending on type, the bitumen emulsifier market is segmented into anionic, cationic, and non-ionic. The market size for cationic segment accounted for $85.7 million in 2018 and is predicted to grow at 4.2% CAGR by 2026. Cationic type is the most used type as it easily dissolves in water despite various petroleum characteristics, and this aspect is predicted to boost the segment in the forecast period. As per our analysts, increasing road activities is predicted to boost the bitumen emulsifier market in the forecast period. Moreover, threat to the environment by using bitumen is predicted to be a major restraint for the bitumen emulsifier market in the forecast period.
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Mixing Application Is Predicted to Have the Highest Growth Rate
Depending on application, the bitumen emulsifier market is segmented into mixing and spray. Mixing application segment accounted for $36.6 million in 2018 and is predicted to grow at 4.3% CAGR by 2026. Mixing is the most used application; hot bitumen and emulsifier are mixed together with the help of water to form a solution so that it can bind the substance together which helps to bind the aggregator.
Modified Bitumen Emulsion Is Predicted to Generate the Highest Revenue
Depending on end use, the bitumen emulsifier market is segmented into unmodified bitumen and polymer modified bitumen. Polymer modified bitumen segment accounted for $19.1 million in 2018 and is predicted to grow at 4.9% CAGR by 2026. Fast recovery of the bitumen emulsifier and increasing demand of bitumen in mixing with water is predicted to boost the segment in the forecast period.
Rapid Type of Setting Is the Most Used
Depending on type of setting, the bitumen emulsifier market is segmented into slow, medium and rapid. Rapid segment was $45.8 million in 2018 and is predicted to grow at 4.3% CAGR by 2026. The segment is predicted to grow due to the rise in the adoption for mixing bitumen with emulsion at a faster rate and faster pace.
Regional Breakdown of the Market
On the basis of region, the bitumen emulsifier market is segmented 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. Increasing road construction activities and government initiatives to expand the region for modernization are predicted to boost the Asia-Pacific market in the estimated period.
Top Companies Leading the Market
Key companies operating in the bitumen emulsifier market development include 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, and China Petrochemical Corporation among many others.
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