APAC to Dominate Bitumen Emulsifiers Industry due to Growing Road, Building Construction Activity
Bitumen Emulsifiers Industry is estimated to reach USD 179.50 Million in 2030 and expected to register 5.10% CAGR during the forecast period. Bitumen is a black or dark brown non-crystalline soil or viscous material having adhesive properties derived from petroleum crude by refinery processes. Principally, it is obtained as a residual product in petroleum refineries after higher fractions are removed. It is a binder majorly used in road construction and building construction applications. Bitumen emulsifiers are a surface-active agent that help bitumen dissolve in water. The role of bitumen emulsifiers is to create a coating on surface charge around the bitumen droplets to separate tiny bitumen particles from each other. Bitumen emulsifiers help in keeping the bitumen particles in a dispersed form. Bitumen is an oil-based substance, which is difficult to dissolve in water and hence requires bitumen emulsifiers to dissolve it in water.
Construction activities are increasing in the US, the UK, India, and Mexico, among others. Governments in developing and developed countries are increasing their expenditure on public sector infrastructure such as railways, hospitals, and other essential institutions, which is driving the demand for bitumen emulsifiers. In addition, growing demand for commercial infrastructure in countries such as India, Indonesia, South Korea, and Malaysia is driving market growth. China has been witnessing considerably slow growth in the construction industry, whereas steady economic growth in Indonesia is likely to cause the country’s construction industry to overtake the construction industry in Japan. Thus, the market in Asia Pacific is dominating the global construction industry during the forecast period. For instance, the world’s population is projected to surpass 8.60 billion by 2030, which will positively impact the global Bitumen Emulsifiers Industry.
Increasing urbanization in Asia Pacific is likely to drive the demand for road construction in the region over the forecast period. This is likely to be a major driver for the Bitumen Emulsifiers Industry over the forecast period. Due to the growth of urban areas, the desired quality of road surfaces has increased, leading to a growing demand for high-grade bitumen and associated substances. Countries such as China are spending huge amounts of money on road construction, as road infrastructure is absolutely essential in enabling smooth movement of commodities and goods. This is likely to be a major driver for the global Bitumen Emulsifiers Industry over the forecast period.
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Competitive Analysis:
Leading players in the global Bitumen Emulsifiers Industry include Dow, Evonik, Chemoran, Pinova Inc., GR Infraprojects Ltd., Kao Chemicals Europe SL, Petrochem Specialities, Industrial Oleochemical Products (IOP), Opal Paints Products Pvt. Ltd., Arkema, and Nouryon.
Segmentation:
The global Bitumen Emulsifiers Industry has been segmented based on surface charge, setting time, application, end use, and region.
Based on surface charge, the global market has been categorized into anionic, cationic, and non-ionic. Anionic emulsions are high resistance acids and cationic emulsions get easily dissolved.
The global bitumen emulsifier market is segmented by setting time into rapid, medium, and slow. The medium and rapid setting time is in-demand among builders, as this allows for faster construction.
The global market is segmented, by application, into mixing grade and spay grade. The mixing grade is expected to be the fastest-growing segment.
The global bitumen emulsifier market is segregated by end use into polymer modified bitumen and unmodified bitumen. The polymer modified bitumen segment is expected to grow at a strong 4.34% CAGR during the assessment period.
Regional Analysis:
Asia Pacific is expected to dominate the global Bitumen Emulsifiers Industry over the forecast period due to the growing road and building construction activity in the region. Increasing urbanization in countries such as Indonesia, India, Malaysia, Thailand, China, South Korea, and Japan is a major driver for the global Bitumen Emulsifiers Industry. Growing demand for infrastructure development in these and other developing countries in the region is likely to be a major driver for the Bitumen Emulsifiers Industry over the forecast period.
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