SELBYVILLE, Del. - January 21, 2021 - (Newswire.com)
Based on Global Market Insights Inc.'s report, the global Oilfield Surfactants Market size was estimated at $1,000 million in 2020 and is slated to surpass $1.3 billion by 2027, registering a CAGR of 4% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers and opportunities, top investment avenues, competitive scenarios, market estimations and size.
The growing demand for surfactants in various oilfield activities, such as sustainable oil exploration, extraction, and production, may drive oilfield surfactants market growth. Additionally, increasing demand for the product from various end-use industries such as petroleum, pharmaceuticals, and polymer industries may boost the product demand.
Silicone surfactants are anticipated to show moderate growth over the coming timeframe in the global oilfield surfactants market and expected to reach over USD 65 million by the end of 2027. This is owing to its unique properties such as low surface tension, wetting, surface activity in nonaqueous media, polymeric nature, and low toxicity.
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The drilling surfactants application witnessed the highest growth potential, and the sector is further anticipated to grow due to massive application drilling in multiple industries such as construction, oil & gas, and others.
The bio-based surfactants source witnessed the highest growth potential in the global oilfield surfactants market. This is owing to strict environmental regulations by the government to control pollution.
The Oilfield Surfactants market for the anionic type is expected to register significant growth over a CAGR of 4.0% between 2021 and 2027. This is owing to the wide application of anionic in the oil & gas industry.
The North American region holds a large share in the market and is anticipated to grow with the highest CAGR of 4.5% due to continuous expansion of the industrial sector in this region and continuous government support for transportation in the U.S. region.
The European region is expected to show significant growth of a 4.0% CAGR in the forecasted period and anticipated to reach at a value over USD 250 million in the year 2020. It is owing to the growing European oil & gas due to a huge number of projects in the development phase throughout the Europe region. For instance, on the Norwegian Continental Shelf, the Johan Sverdrup field is one of the largest oil fields, with expected resources of 2.1-3.1 billion barrels of oil equivalent.
The field is due for development in multiple stages. The first stage comprises three bridge-linked platforms, process platform, drilling platform, and riser platform. Phase two includes a new standalone processing platform and a new wellhead platform. Later developments could include a further wellhead platform and subsea templates. The project's value is USD 10.345 billion. The aforementioned factors will stimulate the demand for surfactants for surface cleaning & drilling operations, stimulating the oilfield surfactants market demand.
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Players in the oilfield surfactants industry Sasol Limited, Lubrizol Corporation, BASF SE, Evonik Industries AG, Oxiteno USA LLC, Croda International PLC, Kao Corporation, Clariant AG, Halliburton, 3M Company, Solvay, Flotek Industries, Inc., Nouryon Holding B.V., Schlumberger Limited, Ethox Chemicals, LLC, LIBRA SPECIALITY CHEMICALS LIMITED, The Dow Chemical Company, Ashland, Innospec, Pilot Chemical, Stepan Company, Baker Hughes and so on.
Major players are implementing strategic initiatives including increasing production capacity, joint venture mergers, and acquisitions to improve and increase market share and global their presence and product offering.
Read the latest blog on "Why are industry leaders banking on biobased oilfield surfactants?": https://www.altcoinbeacon.com/oilfield-surfactants-industry/
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Original Source: Oilfield Surfactants Market Anticipated to Exceed $1.3 Billion by 2027, Says Global Market Insights Inc.
