Global Oilfield Surfactants Market Analysis

Global Oilfield Surfactants Market Analysis

There is an increased demand for global oilfield services owing to the rising oil & gas exploration across the globe due to the escalating need for energy by residential & commercial sectors. Oil field services include well completion equipment & services, well intervention services, coiled tubing services, pressure pumping services, Oil Country Tubular Goods (OCTG), and wireline services. Hence, this rising oilfield services led to boost the need for oilfield services in the global oilfield surfactants market.
 

Non-ionic surfactants are good for oil emulsification, and they are often used to manufacture cleaners, which emulsify oily soils and suspend particulate soils. Non-ionic surfactants are used in the oil & gas industry, which will help in reducing interfacial tension and can be used in challenging conditions including high reservoir temperature. The increasing demand for oil & gas surfactants to simplify drilling processes will foster oilfield surfactants market growth.
 

Bio-based oilfield surfactants source should surpass $50 million by 2027 and is anticipated to show growth over 4.0% of CAGR in the forecasted period. Bio-based oilfield surfactants are highly biodegradable and have a longer shelf life compared to their counterparts. low toxicity and high sustainability related to petroleum-based substitutes attached with strict regulations expected to the use of bio-based products should favor the oilfield surfactants market growth. Biosurfactants are used in adherence to control pollution and create consumer awareness for usage of bio-based products.
 

Synthetic surfactants are manufactured by utilizing crude oil as the raw material while bio-based surfactants are manufactured with the help of biomass including cereals, vegetables, oilseeds, co-products, and waste. Additionally, they are also derived from microorganisms such as enzymes, bacteria, and fungi. These are non-toxic and are biodegradable. Henceforth, the rising demand for environment-friendly substitutes to reduce pollutant levels will foster the demand for bio-based surfactants in the oilfield surfactants market over the forecast timeframe.
 

EOR application in the global oilfield surfactants market share is anticipated to show significant growth over 3.5% of CAGR in the forecasted the year 2021 to 2027.  Surfactants are widely used for chemical methods in Enhanced Oil recovery. Therefore, a growing number of deep-water drilling projects around the world, owing to growing population and industrial developments support the demand for chemicals used in enhanced oil recovery processes that directly impact the demand for surfactants in the EOR application.
 

Besides, surfactants are utilized to displace the oil near the well, helps in reducing the interfacial tension, and improving the oil mobility, and helps to development of low mobility foams. Therefore, these multiple benefits of the surfactants led to drive the oilfield surfactants market sales over the coming years.
 

The Middle East & Africa holds a significant revenue share of over 26% in the global oilfield surfactants market. The Middle East & Africa region accounts for the largest oil & gas reserves in the world, which has resulted in escalating oilfield services demand in the region. For instance, in January 2020, Halliburton signed two contracts with operators Eni to provide integrated drilling services at Zubair oil field in Iraq. The Abu Dhabi Onshore Oil Production Capacity Increase Project, which aims to increase oil production capacity, targeting several onshore fields including Ruwais, Bida Al-Qemzan, Northeast Bab Fields, Qushawira, Bab, and Al-Dabbiya. This development project involves drilling & development of production wells, construction of Gas Oil Separator (GOSP) plants, and series of interfiled pipeline networks. Thus, the aforementioned factors should boost the oilfield surfactants market growth in the region.