Pune, India, July 16, 2021 (GLOBE NEWSWIRE) -- The global demulsifier market is set to gain impetus from the rising research and development activities to create environment friendly, biodegradable, and green demulsifiers. These are mainly developed by using vegetable oils and plant extracts. This information is given by Fortune Business Insights™in a report, titled, “Demulsifier Market,2021-2028.” As per this report, the market size was USD 2,150.0 million in 2020. It is projected to grow from USD 2,236.4 million in 2021 to USD 2,949.4 million in 2028 at a CAGR of 4.0% during the forecast period.
Effect of COVID-19 Pandemic on Petroleum & Crude Oil Industries to Hamper Growth
The COVID-19 pandemic has disrupted the economy of a wide range of industries worldwide. Major oil-exporting countries have exhibited price shocks because of a decline in the fossil fuel industry. At the same time, lockdowns imposed in various countries by government bodies have impacted petroleum refining and crude oil industries negatively. These industries occupy more than 50% of the market share. These factors are likely to take a toll on the demulsifier industry.
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Segments-
Crude Oil Segment Earned 31.8% Share in 2020: Fortune Business Insights™
Based on the application, the market is segregated into crude oil, oil sludge treatment, petroleum refining, oil-based power plant, lubricants, and others. Amongst these, the crude oil segment generated 31.8% in terms of the demulsifier market share in 2020. It is set to remain at the forefront in the upcoming years because of the rising number of new crude oil reserve discoveries.
Report Coverage-
The report studies decisive segments of the emulsion breakers industry containing regions, end-users, technologies, types, and applications. It elaborates the performance and significance of each segment by taking into consideration sales volume, growth prospects, revenue share,and demand. In addition to this, it will help our clients to determine the market size to choose the right segment for their business growth.
Drivers & Restraints-
Rising Usage in Crude Oil Production and Recovery Operations to Bolster Growth
Demulsifiers are extensively used in crude oil processing as it is capable of breaking down the emulsions and separating them into water and oil. Emulsion formation has a positive effect on oil recovery operations and production facilities. The surging demand for crude oil is expected to propel the demulsifier market growth in the upcoming years. The U.S. Energy Information of America, for instance, predicted that in 2022,the average consumption of liquid fuel is set to reach 101.3 million b/d. At present, it is 97.7 million b/d. Additionally, new oil reserves and oil field discoveries would also enhance the market growth.
Browse Summary of This Research Report:
https://www.fortunebusinessinsights.com/industry-reports/demulsifier-market-101084
Regional Insights-
Presence of a Large Manufacturing Base to Help North America Dominate
Geographically, in 2020, North America generated USD 636.4 million in terms of revenue. It is expected to maintain its dominance in the forecast period because of the presence of a large manufacturing base for demulsifiers, especially in the U.S. The Middle East & Africa, on the other hand, would exhibit significant growth on account of the abundance availability of gas and oil reserves in the U.A.E., Saudi Arabia, Iraq, Iran, and Kuwait.
Competitive Landscape-
Key Players Focus on Capacity Expansions and Acquisitions to Strengthen Their Positions
The global market contains various international and local companies that are currently striving to strengthen their positions for competing with their rivals. To do so, they are participating in acquisitions and capacity expansions.
Below are the two industry developments:
- August 2019: Nouryon announced its plan to double the production capacity at its surfactants plant in Sweden. It would help the company to enhance its new and existing sustainable technologies for asphalt, fuels, lubricants, and oil & gas industries. This project is worth USD 12 million and would include the installation of a new reactor.
- March 2016:Dorf Ketal Chemicals India Private Limitedacquired Flow-Chem Technologies LLC to help the company to enter the U.S. market and strengthen its position. The latter’s portfolio will be blended with Dorf Ketal for refining its capabilities.
List of renowned manufacturers operating in the global demulsifier market:
- Baker Hughes Incorporated (Texas, US)
- Croda International (Snaith, UK)
- Ecolab Inc. (Minnesota, US)
- Clariant (Muttenz, Switzerland)
- Schlumberger Limited (Texas, US)
- BASF SE (Ludwigshafen, Germany)
- Nova Star LP (Texas, US)
- Nouryon (Amsterdam, Netherlands)
- SI Group (New York, US)
- Innospec Inc. (Colorado, US)
- Dorf Ketal (Mumbai, India)
- Chemiphase Ltd. (Lancashire, UK)
- Dow Chemical Company (Michigan, U.S.)
- Rimpro India (Mehsana, India)
- Oil Technics Holdings (UK)
- Other Key Players
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