Global Oilfield Surfactants Market Size

Global Oilfield Surfactants Market Size

Global Oilfield surfactants market size was over USD 1,000 million in 2020 and is estimated to grow at over 4% CAGR between 2021 and 2027 owing to the rising government support to the oil and gas industry in the developing regions.  For instance, The Indian government has allowed 100 percent Foreign Direct Investment (FDI) in various segments of the sector, which include petroleum products, natural gas, and refineries.

Besides, the country’s oil minister mentioned that the government will be investing USD 58 billion by 2023 for oil & gas exploration activities and USD 60 billion for the creation of natural gas infrastructure. The government also changes policy from the new exploration licensing policy to Hydrocarbon Exploration and Licensing Policy (HELP) will have a positive impact on oil exploration activities.

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The outbreak of the COVID-19 pandemic has caused a disturbance in the global supply chain of various industrial products, due to the global lockdown in several countries. Also, the spread of coronavirus causes a fall in demand for industrial products due to uncertainty in the capital markets and the global economy. Surfactants play a crucial role in the oil and gas industry, for fluid recovery, enhanced oil recovery, drilling, and so on.
 

Moreover, in the covid-19 pandemic, the number of major oil and gas producing & consuming countries witness substantial variation in demand of oil and gas from end-use industries such as electronics and automotive and affected the oilfield surfactants market growth in the years 2020.
 

The strict regulation laid by government bodies of different regions on the use of the surfactants is likely to restrain the growth of the oilfield surfactants market to some extent over the estimated period. For instance, regulation is laid by the U.S. EPA. says Surfactants that meet the Safer Choice Criteria are only the product that is acceptable for use as a Safer Choice product. Criteria made by Environmental Fate & Toxicity for Chemicals must be followed by surfactants manufacturers especially in products that typically bypass sewage treatment.
 

Therefore, this regulation makes manufacturers understand that which type of chemicals to be used for manufacturing surfactants, which are biodegradable. Along with that is also helps manufacturers to implement bio-based surfactants manufacturing, which doesn’t cause any environmental pollution.