Price is driven by bitumen base cost, emulsifier and modifier cost, and logistics. Polymer or rubber modifications add significant material cost and raise energy and milling load. Water treatment, acid usage, and stabilizers affect OPEX. On the process side, throughput, downtime for grade changeovers, storage losses, and rejected batches directly raise unit cost. Transport of bitumen and finished emulsion is often a major component because emulsions are heavier to ship due to water content and require dedicated tanks or trucks.