According to a new research report by Global Market Insights Inc., the Global Oilfield Surfactants Market size is set to surpass USD 1,300 million by 2027.
Wide application of oilfield surfactants in numerous end-use such as stimulation flowback/ fluid recovery, wetting agents, foamers, EOR, rig wash solutions/cleaners, drilling surfactants, surface active materials, non-emulsifiers, emulsion breakers, spacers and many others. Henceforth, this wide application of oilfield surfactants aid to fuel its growth over the forecasted period. In addition, surfactants aids to progress of low mobility foams, used in improved oil recovery process and helping in lowering the interfacial tension thus improve oil mobility. Therefore, these numerous benefits support the oilfield surfactants market growth.
Rising demand for crude oil around the worldwide support the growth surfactants in the oil and gas industry.
Anionic surfactant segment show value over USD 415 million by the end of 2020 and expected to show the growth over 4% of CAGR in the forecasted period. It is owing to continues rise in the automotive industry which generate high demand for crude oil. In addition, crude oil also being widely used for heating and electricity generation, which support the growth of oilfield surfactants market. As anionic surfactants are a negatively charged hydrophilic group which are utilised in the oil & gas sector at the time of drilling process.
Moreover, there are the majorly used surfactants and consist of alkyl carboxylates including sodium and sodium stearate. These are used to manufacture cleaning products and are also used in other industries includes construction, agriculture, and as fuel additive. Henceforth, this wide application of surfactants results in growing demand for the product and support the growth of oilfield surfactant market. In addition. The increasing demand for surfactants to improve fluid recovery from reservoirs will have an appositive impact product growth.
Cost-effective characteristic of synthetic surfactants anticipated to support the product demand in the industrial sector.
Synthetic surfactants have a strong application scope in the multiple industries such as oil & gas, construction, and others. In addition, they are also a best cost-effective material used in different industries. Synthetic surfactants do not consist of any rigid manufacturing it can be produce with simple production process. Therefore, these multiple benefits of synthetic surfactants led to increasing their demand and support the oilfield surfactant market growth over the coming years.
Synthetic surfactants account for the more than 95% of share by the years ended 2020. It is owing to wide use of synthetic surfactant in oil and gas industry for upstream, midstream, and downstream sectors, as they consist wetting and cleaning properties. Moreover, rising investments in the oil and gas sector for increasing crude oil and petrochemicals production will foster oilfield surfactants market growth.
Wide application of drilling in construction industry anticipated to propel the business growth.
Alkyl benzene sulfonates, alkylsulfates, betaines, Alkoxylated fatty alcohols, Fatty acid amide ethoxylated, sorbitan esters, and amines are some of the widely used surfactants used for drilling purposes. These drilling surfactants aid in reducing the surface tension among fluids or between solid surface during drilling processes.
The drilling surfactants offer detergency which helps to cuttings stick to drill bit and surfactants function as wetting agents and emulsifiers. Therefore, the growing onshore and offshore drilling operations from unconventional shale development will anticipated to fuel the oilfield surfactants market growth and expected to reach over USD 650 million by the end of 2027 year.
Browse key industry insights spread across 295 pages with 249 market data tables and 49 figures & charts from the report, “Global Oilfield Surfactants Market By Product (Anionic, Non-Ionic, Cationic, Amphoteric, Silicone), By Source (Synthetic, Bio-Based), By Application (Stimulation Flowback/ Fluid recovery, EOR, Foamers, Drilling Surfactants, Rig Wash Solutions/Cleaners, Wetting Agents, Surface active materials, Emulsion Breakers, Non emulsifiers, Spacers), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Rising demand of oil in the U.S region led to accelerate the growth for oilfield surfactants market in the north America region.
Growing transportation sector in the U.S region support to huge opportunities for oilfield surfactants market and anticipated to reach over USD 360 million by 2027. In addition, growing economy in the U.S. led to rise in the demand for energy, especially for transportation industry. Wherein, transportation sector is totally dependent on petroleum products such as diesel fuel and gasoline. Hence, this factor led to generate high opportunity for the product in the region. Other than transportation, petroleum fuels also being used for heating, cooking, or generating electricity.
Moreover, rising proved oil reserves in North America will fuel the sales for surfactants as these are extensively utilised to enhanced oil recovery processes in oil production. Proven oil reserves in the U.S. were 43.8 billion barrels of crude oil as of the end of 2018 and expected to grow in the coming years as well. This growing proved oil reserves and oil consumption led to support the oilfield surfactants market growth.
Major players in the oilfield surfactants industry are adopting and implementing various strategies such as merger and acquisition, joint venture, partnership, opening of other manufacturing units to enhance their performance and product offering around worldwide. For instance, In July 2019, Sasol started its new production plant in Nanjing, China.
The plant helps the company to expand company’s current alkoxylation capability which is around 150 kilotons per annum (ktpa), with added facilities to produce anionic surfactants. This expansion, the company will be able to cater wider consumer based across Asia Pacific region. The major players in the oilfield surfactants market include BASF, Baker Hughes, Halliburton, Schlumberger, Dow Chemical Company accounting for over 65% of the total market share.