The growing investments in road construction and modern building development can be aptly credited for the growth of bitumen emulsifiers market. With the increasing demand for bitumen emulsifier as an asphalt binder pertaining to its anti-stripping characteristics, bitumen emulsifier industry share will escalate remarkably over the years ahead. Bitumen emulsions are mainly used in areas where bulky machineries are not accessible. Also, the necessity to heat the emulsifier is perpetually eliminated, due to its lesser viscosity resulting into improved spreadability, which provides a much better coating over the surface of aggregate. In fact, the less requirement of heat and improved spreadability leads to the rise in huge amount of cost savings in terms of energy, which is a major factor that contributed toward the expansion of bitumen emulsifiers market size. It is also imperative to mention that the increasing awareness among regulatory bodies about the hazardous impact of volatile organic compounds has favorably influenced bitumen emulsifiers market trends, especially across the paint and coatings sector. Statistically, in 2016, overall bitumen emulsifiers market held a revenue of USD 109 million.
U.S. Bitumen Emulsifiers Market Size, by Application, 2013 – 2024 (USD Thousand)
Currently, oil and gas production companies are vigorously investing on the development of advanced emulsion products. Recently, in India, the research and development department of Indian Oil Corporation Limited launched the next version of bitumen i.e., Durapave. This product will provide significant benefits like improved lifeline of roads and minimized expenditure. One of the senior officials of IOCL has declared that newly developed bitumen would be suitable for various kinds of pavements such as highways, heavy duty and high traffic roads, junctions, and traffic denser roads. Taking into consideration, the durability and economic benefits of this material, many of the participants in bitumen emulsifiers market are investing heavily in innovative product differentiation.
In order to improve the GDP of their respective nations, governmental bodies are planning to enhance mobility and transportation services spanning the countries as well as international borders. The improved transportation can contribute considerably to escalate trade activities while simultaneously aiding the country’s defense and military strategies. In essence, the ongoing infrastructure development across various countries of the globe has been projected to majorly push bitumen emulsifiers market trends over the years ahead. A gist of the contribution of regional governments toward road development activities that would propel bitumen emulsifiers industry share is mentioned below:
Balfour’s contribution toward U.S. bitumen emulsifiers market expansion
In the last year, the Department of Transportation of North Carolina signed a contract with Balfour Infrastructure Inc., to extend the military cutoff road in Wilmington. In consequence, it has funded USD 95 million for this Wilmington-based infrastructure development company. This project includes bringing about improvements in paving, bridges, sound walls, culverts, grading, and drainage. After the completion of project by 2022, the connectivity between the Market Street and Wrightsville Beach, Ogden, & Mayfaire. Such investments in road maintenance and expansion activities are certain to boost North America bitumen emulsifiers industry share.
Indian government’s road construction initiatives to boost bitumen emulsifiers industry share
Post the implementation of GST, the Indian government has decided to implement a huge road construction plan to improve inter-state trading and transportation. The Cabinet has approved a road construction plan of INR 7 trillion to deploy robust road infrastructure across the country and optimize mobility. In order to promote this new program, the government has included all future road development projects such as coastal roads and economic corridors under the similar program. Other National Highway Development Projects are also expected to be completed soon enough though massive funding. Such strong infrastructure developments across India, undeniably, will provide a lucrative boost to Asia Pacific bitumen emulsifiers market. After the successful execution of this program, India will achieve considerable cost-effectiveness across the manufacturing sector as well.
Hong Kong construction firm consortium to stimulate bitumen emulsifiers market share
A group of Hong Kong based infrastructure companies recently decided to invest nearly USD 100 million to develop land and marine routes. In addition, in order to encourage trading via sea, road, and rail routes across numerous countries, China has also promised to invest 780 billion yuan in infrastructure developments. Eventually, these investments are expected to fuel APAC bitumen emulsifiers market share, which is slated to register a CAGR of 3.5% over 2017-2024.
The growing implementation of international trade relationship strategies will ultimately lead to the demand for major transportation facilities. In this regard, it is prudent to state that infrastructure development activities are slated to expedite overall bitumen emulsifiers industry share in the ensuing years. Aided by government investments in the construction sector, in conjunction with the efforts put in by numerous companies to bring forth a slew of innovative products, bitumen emulsifiers market size is forecast to cross USD 150 million by 2024.