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Bitumen Emulsifiers Market set for massive growth over 2024

Author : Ronak Bora | Published Date : 2019-05-06 

As per a recent industry report put forward by Global Market Insights Inc., Bitumen Emulsifiers Market is forecast to register its name in the million-dollar fraternity down the line of seven years, by exceeding a revenue of USD 150 million by 2024 with a projected CAGR of 4% over 2018-2024.

Endowed with a wide-ranging expanse of application domains, bitumen emulsifiers market has been witnessing commendable remuneration over the recent years. The ever-rising pace of road construction activities around the globe has been one of the most prominent factors that have propelled the demand for bitumen emulsions. Furthermore, it would be quite imperative to mention that there have been drastic changes in the construction and infrastructure industries over the recent times, however, the centrality of bitumen as the primary raw material in these industries has remained the same, which has eventually augmented the revenue graph of the overall bitumen emulsifiers market.

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Bitumen emulsifiers have been increasingly preferred over conventional bitumen as it provides better coating and can be utilized in damp conditions, which has subsequently created a barrage of lucrative opportunities for bitumen emulsifiers market players. In addition, the leading industry players, of late, have been aiming to expand the application spectrum of bitumen emulsions by enhancing the existing tech expertise. Apparently, the growth potential of the overall bitumen emulsifiers industry can be comprehended from the aforementioned factors, which further got reinforced by declarations made at the 10th Asia Bitumen Conference which was held in India.

Elaborating further, the end-use segment of bitumen emulsifiers market has continued to gain wide popularity as these emulsifiers are highly sought-after in the construction of pavements, high-speed roadways, and large buildings. Polymer Modified Bitumen (PMB), one of the prominent end-use products which are also known as cold emulsions, is now being commonly used to construct runways at airports for seamless take-off and landing of flights. For instance, touted to be the world’s largest airport under-construction, Istanbul Yeni Havaliman?, has reportedly deployed six polymer modified bitumen manufacturing plants to build robust and heavy-stress enduring runways which would have a long service life.

Based on application, the industry has been segmented into mixing and spray applications. Tack coat is a major spray application sub-segmented which will grow by a CAGR of around 5% in the forecast period. Tack coat is an application of asphalt emulsion that provides a bond between the existing pavement and a new overlay and helps increase the fatigue life of pavements at low cost. Slurry seal & micro surfacing is an important sub-segment under the mixing applications category. The extensive usage of slurry seal & micro surfacing applications in road repairing activities will propel its industry development in the future.

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Based on end-use, the industry is segmented into unmodified bitumen and polymer modified. The use of polymer modified asphalt emulsions has been gaining popularity for construction of pavements and buildings. Thermoplastic elastomers, thermoplastic polymers, and thermosetting polymers are used to enhance the properties of asphalt emulsions. Their enhanced properties make them a sought-after product in the construction of high speed roadways. This end-use segment will grow with more than 5% CAGR during the study period.

North American bitumen emulsifiers market development will be propelled by the mounting demand for asphalt emulsions for road maintenance activities in this region. The U.S. has the largest road network in the world and a massive amount of asphalt emulsion is needed for their repair and maintenance. Increasing number of road construction as well enlargement projects in the country will also drive the bitumen emulsifiers market development in the region.

Major bitumen emulsifier manufacturers include Arkema, AkzoNobel, Opal Paints Products, Industrial Oleochemical Products, Kao Corporation, Petrochem Specialties, Ingevity, The Dow Chemical Company, Chemoran, Evonik, RX Marine International, Vizag Chemicals, Pinova, etc.

Browse key industry insights spread across 300 pages with 353 market data tables & 27 figures & charts from the report, “Bitumen Emulsifiers Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/bitumen-emulsifiers-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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