Press release
Internal olefins market Size 2024, Key players are Royal Dutch Shell, Elevance, Sasol, Schlumberger, Halliburton, Shrieve, SABIC
Internal Olefins Market
The usage of internal olefins in drilling operations sufficiently decreases its environmental impact, whilst offering excellent lubricity, well-bore stability, and thermal stability. With this, estimates claim that the U.S. internal olefins market could surpass USD 750 million by 2024.
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A paradigm shift towards adoption of synthetic drilling fluids for carrying out drilling oil and gas well operations is anticipated to drive internal olefins market share in the upcoming years. Use of such fluids is expected to augment the drilling performance and offer several advantages with regards to human health and safety, thereby escalating the product demand. Moreover, rise in environmental concerns with respect to impact of these fluids on aquaculture has urged petroleum operating companies to take over different kinds of synthetic base fluids inclusive of internal olefins, synthetic paraffins, esters, and linear alpha olefins.
Some of the intrinsic features of these fluids is that they favor exceptional well-ore stability, solidity at high temperature, and lubricity. In line with these, these fluids also play a pivotal role in soundproof drilling operations, which is expected to majorly influence the internal olefins market size in the near future.
It is noteworthy to mention that prominent features and characteristics like toxicity level, impressive human safety benefits, and biodegradability offered by internal olefins have prompted several personal care manufacturers to considerably opt for these products. Some of the important parameters highlighting the same are the product’s high chemical stability, and robust water solubility properties. Apparently, these merits have promoted the product’s growing traction across the U.S personal care and household cleaning product industry.
As per Global Market Insights, Inc., internal olefins market is poised to account for revenue share of USD 2 billion by the end of 2024, given its use for pharmaceuticals, surfactants, automotive, and agrochemical applications.
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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology
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