“High emphasis on road building and maintenance to help bitumen emulsifiers emerge as a prominent coating solution”
Bitumen emulsifiers are rapidly emerging as a system undergoing significant technological progress to meet the requirements of pavement engineering. The deployment of varied bitumen emulsion types is slated to increase, driven by the rising cases of waterlogging due to poor drainage networks and the potential rise in the adoption of bitumen to coat roads and prevent corrosion, especially in heavy rainfall regions.
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One of the key factors responsible for bitumen emulsifiers market growth is the escalating construction of roads and highways in developing nations. According to the Economic Survey in India, a consistent increase in national highways and roads construction has been witnessed since 2013-2014, with over 13,327 km constructed in 2020-2021 compared to 10,237 km in 2019-2020, indicating a 30.2% hike. The survey further revealed that this significant upturn in construction activities is due to the mounting public expenditure in 2020-2021, with a 29.5% increase from the previous year. Favorable business prospects like these are expected to stimulate the bitumen emulsion manufacturing process.
Increasing residential construction activities in America
The rise of single-family and multifamily households is providing a considerable boost to residential construction over the years. As per an analysis of the federal spending data released by the Associated General Contractor of America, spending on residential construction jumped 23.2% in 2021 from a year earlier, with significant gains of 15.6% for multifamily spending and 32.8% for single-family spending. This increase in construction spending will fuel the use of polymer-modified bitumen emulsion formulations for high-quality coating of building parts.
Bitumen has been increasingly gaining traction over the years in the construction sector, especially in the development of water-repellent coatings for walls and roofs. In line with this, chemical companies like WACKER have introduced new product lines with the use of a booster for bitumen coatings. Dubbed VINNEVA, this booster for polymer-modified bitumen emulsions was released in 2021 and was designed to ensure that the coatings adhere well to building fabrics. The polymer-modified bitumen emulsifiers industry will thus exhibit a CAGR of nearly 5.5% through 2027, as per a Global Market Insights Inc. report.
Escalating funding activities for highway and bridge development projects in the Asia Pacific
Despite movement restrictions and lockdown measures implemented in the wake of the coronavirus pandemic, highway construction in the Asia Pacific region has observed a remarkable increase in recent years. In the fiscal year 2021, India constructed around 13,298 km of highways, according to IBEF’s report. This, alongside the high spending on infrastructural development activities, will emerge as a key driver of the bitumen emulsifier business for road construction applications.
The Indian government, for example, allocated $13.14 billion under the National Infrastructure Pipeline for the fiscal year 2019-2025, of which, the road sector will account for over 18% of the capital expenditure.
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In other prominent countries like Indonesia, planning is underway for a bridge construction project to improve transport for two Indonesian islands namely Batam and Bintan. The government of Indonesia announced plans to offer around $236.4 million for the construction of over 2,134 km of the 7,685 km bridge linking the two northerly islands, as per Suharso Monoarfa, Minister of National Development Planning. Such government funding for the national infrastructural development will consequently add impetus to bitumen emulsifiers market expansion in regions like the Asia Pacific over the years ahead.
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