The bitumen emulsifiers market is projected to exhibit substantial growth by 2027 owing to increasing construction and road development activities around the world.
Bitumen emulsion refers to a dispersed liquid composed of three components: bitumen, emulsion, and water. Bitumen emulsion is extensively used for road construction, repair, and maintenance work. It is eco-friendly since it is water-based and is widely used in soil stabilization in desert areas. It has several other applications across different industry segments owing to its various advantageous features, such as easy storage and transportation, easy application during rainy weather, and low-to-no heating requirement before application, among others.
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Moreover, recent studies have shown that bitumen emulsifiers can improve soil quality and strength, which is an important pre-requisite for construction and road development activities to prevent the formation of cracks in the whole structure, which could ultimately cause the structure to collapse. Thus, growing R&D activities and innovations have propelled product demand worldwide.
The bitumen emulsifiers market has been segmented based on application, product, end-user, setting type, and region. With respect to setting type, the market has further been divided into slow, medium, and rapid.
The rapid segment is speculated to expand at a robust pace of over 4.7% CAGR through the study timeline. As rapid setting emulsifiers fasten the process of emulsion breakdown and evaporation, they are extensively utilized in surface dressing, prime coat, tack coat, and penetration macadam applications, which is likely to drive segmental growth over the assessment period.
On the basis of application, the market has been bifurcated into mixing and spray. Under spray, the market has been segregated into tack coats, surface dressing, prime coat, and others. The surface dressing segment accounted for a substantial revenue share of around 60% in 2020 and is slated to showcase considerable growth over the forecast period.
Meanwhile, the mixing application segment is estimated to account for more than 30% of demand for emulsifier in terms of volume by 2027. Mixing applications are widely used for road development activities. Under mixing, the market has been categorized into slurry seal & micro surfacing, cold mix, gravure emulsion, and others.
The slurry seal & micro surfacing segment is anticipated to dominate the mixing application segment in terms of product demand and is calculated to progress at a CAGR of over 4.2% in terms of revenue through the review timeframe.
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On the regional spectrum, the Latin America bitumen emulsifier market is expected to gain significant growth impetus, expanding at a CAGR of approximately 5.0% over the analysis timeframe. Rapid urbanization across countries in the LATAM region is likely to drive regional market growth in the future.
Meanwhile, the Middle East & Africa bitumen emulsifier industry accounts for a nominal share in the overall market and is estimated to record moderate growth through the projected period due to growing disposable income of consumers in the MEA region. Moreover, high economic growth of the Gulf Cooperation Council countries, including Saudi Arabia, the UAE, and Qatar, is set to facilitate regional market expansion over the following years.