Bitumen Emulsifiers Market Expected to Reach $184.4 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Bitumen Emulsifiers Market," The bitumen emulsifiers market size was valued at $128.40 million in 2021, and is estimated to reach $184.4 million by 2031, growing at a CAGR of 3.6% from 2022 to 2031.

The increase in road construction activities across the world is one of the primary reasons expected to drive the global bitumen emulsifiers market growth during the forecast period. Bitumen emulsifier is frequently used in road maintenance work because it offers a superior coating. Highways are considered as a major transportation mode and government measures to improve them are anticipated to play an important role in the growth of the bitumen emulsifiers market share. Furthermore, large investments in roadway development by the government in rural and urban areas would boost bitumen emulsifiers market trend. One of the key bitumen emulsifier industry insights is the increase in the usage of bitumen emulsion in road construction activities.  

Although bitumen does not require heating during transportation, they are prone to losing viscosity over time due to the presence of water. Some manufacturers add calcium chloride to bitumen to maintain the bitumen emulsions during storage or transit. Calcium chloride is used to prevent water from osmosing into the bitumen and generating an increase in viscosity during storage or transportation.  

Bitumen and its emulsions are widely used in the construction of roads and national highways across the world. For example, due to China's rapid expansion and investment in road building, asphalt used in road construction currently represents over 75% of the country's total emulsifier consumption. Due to several characteristics of asphalt emulsions, including their ease of handling, environmental friendliness, and outstanding capacity to mix with cement and latex, there is an opportunity for the bitumen emulsifiers industry.

The bitumen emulsifiers market analysis and share is segmented on the basis of surface charge, setting time, application, and region. By surface charge, it is classified into anionic, cationic, and non-ionic. By setting time, it is divided into rapid setting emulsion, medium setting emulsion, and slow setting emulsion. By application, it is classified into binder, roofing, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the bitumen emulsifier market report include Indian Oil Corporation, British Petroleum, Chevron Texaco Corporation, JX Nippon Oil & Energy Corporation, Royal Dutch Shell Plc, Total S.A., Nynas AB, Marathon Oil Company, and China Petrochemical Corporation.

Impact of COVID-19 on the Global Bitumen Emulsifier Industry

• Sales of bitumen emulsifiers are directly proportional to the demand from the materials and chemicals industry. However, various sectors such as chemicals and construction were negatively impacted by the COVID-19 pandemic, which has further affected the production and demand for bitumen emulsifiers due to disrupted supply chain.
• COVID-19 impacted almost all industries and the bitumen emulsifier producing companies ceased their operations owing to import-export restrictions, lockdowns imposed across several countries, shortage of labor; the fear of contracting the novel coronavirus led to sluggish demand in the market
• Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market

Key Findings of the Study

• Based on surface charge, the cationic sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing during the forecast period
• Based on setting time, the rapid setting emulsion sub-segment emerged as the global leader in 2021 and is predicted to witness the fastest growth in the upcoming years
• Based on application, the binder sub-segment emerged as the global leader in 2021 and is predicted to witness the fastest growth in the upcoming year
• Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain its position during the forecast period