Bitumen Emulsifiers Market size 2024 – Spray sector is anticipated to witness major growth over the coming years
Selbyville, Delaware, United States, September 15 2020 (Wiredrelease) Global Market Insights, Inc –:Bitumen Emulsifiers Market to trace exponential gain till 2024. With reference to the application segment, the spray sector is anticipated to witness major growth over the coming years. Tack coat is a key spray application that is projected to grow at a CAGR of about 5% through the forecast timeframe. Tack coat is another application avenue of asphalt emulsion as it provides a bond between a newly laid overlay and the existing pavement to further expand the fatigue life of the pavements at a comparatively lesser cost.
Apart from spray applications, mixing applications would also complement the growth of the segment in the coming years. Extensive applications of slurry seal and micro surfacing for road repairing activities is expected to positively influence the bitumen emulsifiers market growth through the forecast timespan.
All in all, growing road infrastructure development initiatives, and mounting construction activities are overtly indicative of massive growth opportunities for the bitumen emulsifier market. Some of the prominent players making distinguished contributions to the market landscape include Pinova, Vizag Chemicals, RX Marine International, Evonik, Chemoran, Dow Chemical Company, Petrochem Specialties, Ingevity, Kao Corporation, Industrial Oleochemical Products, Opal Paints Products, AkzoNobel, and Arkema among others.
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In developed regions such as North America and Europe, growing pavement construction activities are likely to fuel the regional product demand. The U.S. has one of the world’s longest road networks. Government investments towards improving the quality of road infrastructure and expansion of road networks will offer promising opportunities to regional manufacturers.
Growing frequency of road construction and repair activities across the globe are expected to propel the bitumen emulsifiers market in the coming years. Bitumen emulsifiers are added to asphalt emulsions that are extensively utilized in road maintenance and construction. Additionally, asphalt emulsions are also used as binders and coatings materials in building constructions.
The bitumen emulsifiers market is particularly likely to observe major growth due to road construction in the United States owing to growing investments towards the construction of new highways in the region. The country boasts of the largest road network in the world of more than 6.5 million kilometers along with driveways spanning more than 77 thousand kilometers.
The U.S. government is heavily investing on the maintenance and construction of the highway network with an expenditure in 2016 of more than $91 billion. This is likely to be a key factor for bitumen emulsifiers market development in the region through 2024.
On the other hand, in developing countries of Asia Pacific such as China, India, and Indonesia, growing focus towards pavement construction and refurbishment of existing road infrastructure are likely to boost the consumption of bitumen emulsifiers market. Governments have taken several initiatives to enhance the quality of road networks. For instance, the Indian government had announced an investment of US$15 billion for road construction and amendment undertakings.
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