Press release
Demulsifiers Market to Surpass US$ 2.33 Billion by 2022, Unveils Fact.MR
The global demulsifiers market is anticipated to reach a valuation of US$ 3.25 Bn by the end of 2032. As per the report, the global market is slated to witness growth at a CAGR of 3.4% between 2022 and 2032.Growth in the market is driven by rapid development of biodegradable and green demulsifiers backed by the presence of strict government norms to ban the usage of certain chemicals. Japan Petroleum Institute, for instance, found that vegetable oil and green tea extracts can break emulsions.
Thus, key manufacturers are increasingly focusing on research and development activities to come up with such environmentally friendly solutions. Rising financial support by regulatory bodies to accelerate these research activities is also expected to contribute to this growth.
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Moreover, demulsifiers have the ability to act on the emulsion and neutralize the impact of emulsifying agents by dropping of water and flocculation of oil droplets. This is likely to augur well for the market.
Surging utilization of demulsifiers for conducting chemical analysis of synthetic muds and oil is another crucial factor that is set to propel growth. In addition, these are extensively used to treat produced hydrocarbons.
Increasing demand for liquid fuel and petroleum is estimated to bode well for the global market. According to the International Energy Agency (IEA), in 2020, nearly 4,296 million tons of crude oil and Natural Gas Liquids (NGL) were produced across the globe.
The total demand for oil reached 4,070 million tons the same year. This trend is likely to continue throughout the forthcoming years, thereby bolstering the market. Also, rising oil and gas extraction activities worldwide to cater to the high energy demand will boost the market.
Key Takeaways:
Based on application, sales in the crude oil segment surged by 1.9% and reached US$ 601.3 Mn in 2021.
Petro refineries segment is projected to exhibit growth at a CAGR of 3.7% and surpass US$ 251.7 Mn through 2032.
Lubricant manufacturing segment is anticipated to record 3.4% CAGR and reach US$ 186.6 Mn in the forthcoming years.
Demand for demulsifiers in the U.S. is estimated to grow 2X and expand at a CAGR of 3.6% in 2032.
Europe demulsifiers market is expected to be valued at US$ 794.5 Mn and progress at a CAGR of 2.7% by the end of 2032.
Growth Drivers:
Increasing production of crude oil owing to the rising demand for oil and its derivatives is expected to boost the market.
Surging demand for green demulsifiers and ongoing discovery of new oil fields across the globe are anticipated to drive growth.
Restraints:
Implementation of strict norms to reduce the usage of conventional demulsifiers containing toxic chemicals may hamper growth.
Demulsifiers can often cause corrosion damage to storage tanks and pipelines, which may hinder growth.
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Competitive Landscape:
The global demulsifiers market is highly competitive with the presence of a large number of key players. Majority of these key players are launching new range of products to help end-use industries in improving the water quality and effortlessly breaking down oilfield emulsions.
Some of the other companies are investing huge sums in research and development activities to introduce innovative demulsifiers. They are also focusing on mergers and acquisitions to develop new business units and strengthen their positions in the oil and gas sector.
For instance,
March 2021: Stepan Oilfield Solutions, a leading provider of oilfield surfactants based in the U.S., acquired KMCO's range of demulsifier intermediates to broaden its product portfolio. This new range will help companies to provide a consistent field performance to their clients.
October 2019: Nouryon, a prominent manufacturer of specialty chemicals headquartered in Amsterdam, launched a wide range of demulsifiers. These would offer oil producers a sustainable option to separate crude oil from water and natural gas.
Key Companies Profiled by Fact.MR
BASF S.E
AkzoNobel N.V.
The Dow Chemical Company
Croda International
Baker Hughes Inc.
Clariant AG
Innospec
Schlumberger Limited.
BYK
Ecolab Inc.
Nova Star LP
Nouryon
SI Group
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More Valuable Insights on Demulsifiers Market
In the latest study, Fact.MR offers a detailed study on global demulsifiers market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of demulsifiers through detailed segmentation as follows:
By Type:
Oil Soluble
Water Soluble
By Application:
Crude Oil
Petro Refineries
Lubricant Manufacturing
Oil-based Power Plants
Sludge Oil Treatment
By Region:
North America
Latin America
Europe
APAC
Middle East and Africa
Key Questions Covered in the Demulsifiers Market Report
What is the projected value of the demulsifiers market in 2022?
At what rate will the global demulsifiers market grow until 2032?
Which are the factors hampering the growth in the demulsifiers market?
Which region is expected to lead in the global demulsifiers market during 2022-2032?
Which are the factors driving the demulsifiers market during the forecast period?
What is the expected market value of the demulsifiers market during the forecast period?
Explore Fact.MR's Coverage on the Chemicals and Materials Domain:
Bio-succinic Acid Market - https://www.factmr.com/report/5405/biosuccinic-acid-market
Surge Suppression IC Market - https://www.factmr.com/report/surge-suppression-ic-market
Liquid Propellants Market - https://www.factmr.com/report/Liquid-Propellants-Market
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