According to Precision Business Insights, the Bitumen Emulsifier Market research report provides industry size and growth.
According to Precision Business Insights (PBI), the latest report, the bitumen emulsifier market is expected to be valued at USD 221.3 million in 2022 and is poised to grow at a significant CAGR of 4.7% over 2023–2029. The primary drivers of the expansion of the market are increasing usage of bitumen emulsifiers in additives, and growing urbanization across globe. Bitumen emulsifier is mostly used for road maintenance work since it takes less time to settle and provides a superior coating in all working circumstances. Roadways are a popular source of transportation, and government measures to upgrade them will be critical to the growth of the market.
Based on the product type, the market is segmented into the following:
Based on the setting type, the market is segmented into the following:
Based on the application type, the market is segmented into the following:
Based on the end-user type, the market is segmented into the following:
Based on the surface charge, the cationic bitumen emulsifier is expected to register the highest growth rate over the forecast period. Cationic bitumen emulsifiers are in huge demand as they can be simply mixed with water and other chemical additives to produce a stable aggregator which can be useful for pavements. These properties surely increased the demand of cationic bitumen emulsifier segments, consequently bitumen emulsifier market would expect to expand in the coming next few years.
Based on geography, the market is segmented into the following:
The Asia Pacific is projected to hold a significant share of the global bitumen emulsifier market, over the forecast period owing to increasing construction activities, mainly in India, China, and Japan, which require a high amount of bitumen emulsifier. Furthermore, making huge investments in emerging economies in the Asia Pacific, such as Indonesia and Vietnam, is another major factor anticipated to expand the global market of bitumen emulsifiers in the region over the forecast period.
The global Bitumen Emulsifier market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In in July 2020, Indian Oil Corporation, a state-owned oil firm in India, has announced a partnership with Total Inc., a French oil and gas corporation, to produce high-quality bitumen variations and derivatives to suit the expanding demands of the road building sector. This agreement is expected to greatly assist both companies in boosting their market share.
The major key players in the bitumen emulsifier market report are Nouryon, Croda International Plc., Arkema Group, Evonik Industries, Opal Paints Products Pvt. Ltd., Tristate Asphalt LLC, RAHA Bitumen Co., RX Marine International, Jiangxi Simo Biological Chemical Co. Ltd., Chemoran, Kao Corporation, and G R Infraprojects Ltd.
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