The global bitumen emulsifier market accounted for $113.6 million in 2018 and is estimated to surpass $154.3 million by 2026, at a CAGR of 3.9%.
The bitumen emulsifier market will witness a decline during the COVID-19 pandemic outbreak in 2020. The market is predicted to grow later with the increase in the construction activities and the government initiatives to invest more for modernizations of various cities in the forecast period.
|Recovery By||Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|4.3%||3.9%||Q3/Q4 2022||34||USD 122.5 Million||USD 98.0 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
Increasing road construction activities across the globe is predicted to upsurge the growth of the bitumen emulsifier market. Extensive use of bitumen in the road construction activities and maintenance of road construction activities will augmented the demand of the bitumen emulsifier in the forecast period. In addition, rise in the government initiatives for developing infrastructure and other repair work is predicted to boost the market in the forecast period.
However, short storage time of bitumen is predicted to be the biggest restraint for the growth of the bitumen emulsifier market. The short storage time for bitumen is predicted to hamper the market growth in the forecast period. The time frame for storing the bitumen emulsifier is up to 6 days. As, during this lockdown period, most of the construction activities are stopped, the bitumen emulsifier already produced will be of no use. This is predicted to hamper the market in the forecast period.
With the COVID-19 pandemic, the bitumen emulsifier market will witness a negative impact during the pandemic. The decline growth in the market is predicted due to the pandemic, the whole world is shut down and government of various countries have stopped the ongoing construction activities, which is predicted to decline in the forecast period. Moreover increase in the construction projects and the initiatives taken by the government for creating more investment opportunity for modernization across the globe is predicted to boost the market.
For instance, the Indian government have released all the pending dues from the government agencies in construction activities. The government is planning to release all the dues which are stuck in arbitration which would bring in immediate liquidity in the current scenario.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
The bitumen emulsifier market is predicted to recover from the pandemic by Q3/Q4 2022. Till then the effects of the COVID-19 will have a negative impact on the market. The market is predicted to grow after the pandemic due to the rise in the road construction activities and government initiatives for increasing the infrastructure activities by investing more in the semi urban and rural areas. The market is predicted to grow post the pandemic settles due to the increase in the construction activities which have been stopped. Government initiatives of funding upcoming projects in construction and rise in the road repair rates is predicted to boost the market after the pandemic situation.
Moreover, the rapid urbanization across the globe is also predicted to boost the market in the forecast period. For instance, GOIL entered a joint venture with Societe Multinationale de bitumes (SMB) of cote d’lvoire to construct a $35 million bitumen plant in Tenna which will produce 8000 tons of bitumen emulsion every year. Moreover, increasing use of asphalt in bitumen emulsifier is predicted to create a more investment opportunity in the forecast period.
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- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Bitumen Emulsifier Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity