Bitumen Emulsifier Market To Reach $ 157 Million, Globally, By 2026 At 4.2% CAGR - Research DiveDownload Sample Reports Overview
Bitumen emulsifier market size projected to grow at $157.9 million by 2026 and is expected to grow at a CAGR of 4.2% over the forecast period from 2019 to 2026, owing to the increased product usage in road construction activities. Increased use of bitumen emulsion in road construction activities is one of the major bitumen emulsifier industry insights.
Bitumen is a dark viscous substance produced by mixing small particles of crude distillation. Bitumen is a key asphalt element used to build roads, pavements and other transportation products. It is a vital material for numerous forms of transportation and building projects, for both small and large.
Growing Factors in Bitumen Emulsifier Market:
The growing road construction projects globally is the key growth factor, which is accelerating the global market trend over the expected period. The bitumen emulsifier is primarily utilized for road repair work which sets in a lesser amount of time and delivers enhanced coating for all the possible conditions. Huge investments to improve the roadways will additionally provide a lift to the advancements, which will improve the product consumption over the forecasted period.
Cationic Bitumen Emulsifier Market witness the fastest growth rate of 76.8%, by generating revenue at $121.3 million by 2026, and is expected to increase at a CAGR of 4.4% during the projected years. Cationic bitumen emulsifier acts as an aggregator, when used with different metals. Emulsifier is further mixed with the water and various other synthetic additives on order to form a stable fluid due to which it can be used for roadways and others.
Bitumen emulsifier market for mixing application held a dominant size of $36.6 million by 2018 and is expected to grow at 4.6% CAGR amounting to $52.5 million in 2026, due to the leading product consumption while road construction initiatives. In the mixing application, water is mixed with hot bitumen containing emulsifier to form an aggregator.
Rapid setting emulsion breaks down the bitumen emulsifier rapidly when comes in contact with aggregate which helping in fast setting and rapid curing. Rapid setting bitumen emulsifier market share estimated to account $65.6 million by the end of 2026 by generating a CAGR of 4.6%. The advancement of this segment is preferred by the rising utilization of mixing applications of bitumen emulsions.
The demand for modified bitumen emulsifiers is estimated to generate a revenue of $28.6 million by 2026 and expected to generate a CAGR of 4.0%. The substance of modified bitumen emulsifier such as thermoplastic elastomers, thermosetting polymers, and thermoplastic polymers is likely to use to build pavements and construct buildings.
Asia-Pacific accounted for the maximum use of bitumen in this market, which generated a revenue of $40.3 million by the end of 2018, and is expected to grow at a CAGR of 4.9% with $59.1 million in 2026 in construction. This region has experienced significant growth in infrastructural developments in China, along with India. India has seen good growth in the manufacturing and construction industry, along with India. The North America bitumen emulsifier market size increases its development activities in various parts of suburban in U.S. North America accounted for $20.3 million in 2018 and is expected to grow at a CAGR of 3.8% by generating a revenue with $27.3 million by 2026.
Top Gaining Key Players and Recent Developments In Bitumen Emulsifier Market:
- Chevron Texaco Corporation
- Marathon Oil Company
- British Petroleum
- Royal Dutch Shell Plc
- JX Nippon Oil & Energy Corporation
- Nynas AB
- Total S.A.
- China Petrochemical Corporation
The developments in the Bitumen emulsifier market includes joint ventures, mergers & acquisitions, and product launches.