May 13, 2020
According to the research report titled ‘Oilfield Surfactants Market By Product, By Source, By Application Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global oilfield surfactants market is expected to register significant growth by the year 2026.
Rising adoption of oilfield surfactants for various applications owing to its capability of reducing surface tension of liquid as well as interfacial tension between two phases is a major factor driving the market growth. The product is widely used in chemical, pharmaceutical, food, household and drilling industries.
As per the product type, cationic surfactants market segment is predicted to expand with a CAGR of 3% during 2020-2026, primarily due to increasing oilfield drilling applications.
Meanwhile, silicone surfactants market segment is anticipated to record a y-o-y growth rate of 2% through 2026. The product offers better wetting property owing to low surface tension as compared to nonionic surfactants. Silicone surfactants are available in two forms - oil-soluble and water soluble. The product is highly employed in fungicides, herbicides, PGRS and insecticides where extra-wetting and super spreading is required.
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Global oilfield surfactants industry share from foamers application is expected to record a 6% CAGR between 2020 and 2026. The product is utilized for manufacturing dispersants to cleanse oil spills.
Further elaborating on the application spectrum, emulsion breakers segment and non-emulsifiers segment are predicted to grow with a CAGR of 2.5% and 3% respectively during 2020-2026. Oilfield surfactants are widely used in non-emulsifiers application in order to minimize the emulsion tendency of additional oil with fluids.
In addition, spacers application segment held 2% market share in 2019 and is slated witness lucrative growth in the forthcoming period. Spacers play a significant role during well drilling and completion activities, since they separate the fluid from drilling cement.
Considering the geographical landscape, Europe accounted for 24% of total market share in recent past, whereas Latin America oilfield surfactants industry is estimated to expand substantially during the forecast period. Favorable regulatory scenario in Venezuela and Brazil such as fiscal and equitable tax regimes are favoring the market scenario in Latin America.
The major contenders in oilfield surfactants market are Baker Hughes, STEPAN Co., Pilot Chemical, Innospec, Ashland, The Dow Chemical Co., LIBRA Specialty Chemicals Ltd., Ethox Chemicals LLC, Schlumberger Ltd., Flotek Industries Inc., Nouryon Holding B.V., Halliburton, 3M Co., Solvay, Clariant AG, Croda International PLC, Kao Corp., Evonik Industries AG, Oxiteno USA LLC, BASF SE, Lubrizol Corp. and Sasol Ltd.