Global Bitumen Emulsifier Market Expected to Generate a Revenue of
The outbreak of coronavirus has negatively affected the global bitumen emulsifier market, owing to the stoppage of various construction activities across the globe due to lockdown imposed by many countries to curb the virus spread. The market is expected to recover by 3rd and 4th quarter of 2022. The leading players of the market are focusing on developing strategies to revive the market growth in the post-pandemic market.
New York, USA, Oct. 25, 2021 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the global bitumen emulsifier market is expected to generate a revenue of $154.3 million by 2026, exponentially growing at a CAGR of 3.9% during the forecast period (2019-2026). The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figure Pre and Post the COVID-19 Pandemic
According to the report, the bitumen emulsifier market is predicted to grow at a CAGR of 3.9% during the forecast period, while it was anticipated to be 4.3% in the pre-pandemic scenario from 2019-2026. This decline is majorly due to the temporary stoppage of construction activities across the globe during the pandemic, owing to the prevalence of lockdowns. This adversely reduced the demand for bitumen emulsifier worldwide. In addition, the short storage time of bitumen is further expected to impede the growth of the market during the forecast period.
Factors Influencing the Market Size Pre and Post the COVID-19 Outbreak
According to the report, the real-time bitumen emulsifier market size has substantially decreased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $98.0 million in 2020, while its estimations were $122.5 million in the pre-pandemic scenario.
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Stringent restrictions imposed by the government led to the cancellation of current and future construction projects and activities in order curb the spread of the coronavirus during the pandemic. So, the already produced bitumen would be of no use, since average time frame for storing of bitumen emulsifier is only up to 6 days. In addition, negative impact of bitumen on the environment like wind and temperature have affected the market growth.
Post Pandemic Insight
As per the report, the global bitumen emulsifier market is expected to recover by 3rd/4th quarter of 2022. However, subsequent increase in…
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