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APAC Bitumen Emulsifiers Market to perceive commendable remuneration over 2017-2024, PMB to emerge as a prominent end-use segment
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. To add to it, the growing significance of sustainability and environmental consciousness has necessitated the wide-scale utilization of bituminous asphalt in road repairing and maintenance activities, given that bitumen is recyclable and highly durable. Having recorded a remuneration portfolio in excess of USD 109 million in the year 2016, bitumen emulsifiers industry space is anticipated to register an impressive y-o-y growth rate of 4% over 2017-2024, as per a research report of Global Market Insights, Inc.
U.S. Bitumen Emulsifiers Market Size, by Application, 2013 – 2024 (USD Thousand)
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 industry 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. Industry analysts at the conference, which comprised of bitumen producers, key traders and renowned road contractors from Asia, claimed that the global demand for bitumen would reach 122 million tonnes by the year 2018. Apparently, these statistics go on to demonstrate the future growth outlook of the global bitumen emulsifiers industry, which can unarguably be termed as rather profound.
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Elaborating further, the end-use segment of bitumen emulsifiers industry 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 Havalimanı, has reportedly deployed six polymer modified bitumen manufacturing plants to build robust and heavy-stress enduring runways which would have a long service life. The facility reportedly produces high-quality asphalt at a rate of up to 1,680 tonnes each hour, which is then mixed with PMB to ensure surface course’s resistance to deformation in the longer run. Apparently, the high usage of PMB across various business verticals would further accentuate the pace of bitumen emulsifiers market size expansion. Concurrently, PMB end-use segment was valued at over USD 18 million in 2016 which underlines its influence on the overall bitumen emulsifiers industry space.
Speaking of the regional growth outlook, the burgeoning road construction projects in the fast-growing economies across the Asia Pacific, particularly India and China, have proved to be the chief growth drivers of the APAC bitumen emulsifiers market. According to the official statistics released in 2015, India commanded a road infrastructure of 3.3 million kilometers, the second largest after the USA. The Indian government had earmarked investments of around USD 20 billion for road construction and maintenance projects during the 2012-2017 five-year plan, which roughly translates to about 10% of the total government spending in these five years. Based on the estimated demand from the upcoming projects, India’s bitumen consumption is likely to outshine its domestic production capacity over the forthcoming years, which would undeniably propel the overall bitumen emulsifiers market share.
In such a scenario, bitumen emulsifiers industry is expected to be strongly characterized by product innovations and massive capacity expansion plans in the ensuing years. The global bitumen emulsifiers market is forecast to surpass a valuation of USD 150 million by 2024, as per estimates.
Author Name : Saif Ali Bepari