Increasing crude oil production across the globe, Rapid industrialization coupled with a growing number of power plants to meet the energy requirements of the ever-growing population is anticipated to drive the market.
JERSEY CITY, N.J., Jan. 6, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Demulsifier Market" By Product (Oil-Soluble Demulsifier, Water-Soluble Demulsifier), By Application (Oil-Based Power Plant, Crude Oil, Petroleum Refineries, Lubricant Manufacturing), and By Geography. According to Verified Market Research, the Global Demulsifier Market size was valued at USD 2.40 Billion in 2020 and is projected to reach USD 3.20 Billion by 2028, growing at a CAGR of 3.7% from 2021 to 2028.
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Browse in-depth TOC on "Demulsifier Market"
202 - Pages
126 - Tables
37 - Figures
Global Demulsifier Market Overview
Increasing crude oil production across the globe is expected to be a major driver for the demulsifier industry over the next few years. Growing demand for lubricants from the rapidly growing automotive industry particularly in emerging economies of China, India, Brazil, and Mexico has triggered the demand for demulsifiers over the past decade. Rapid industrialization coupled with a growing number of power plants to meet the energy requirements of the ever-growing population is anticipated to drive the market. Furthermore, the fast depletion of crude oil reserves has triggered companies to take up new exploration projects to cope up with increasing demand.
Additionally, the growing demand for oil-related derivatives has increased the production of crude oil around the world. This, in turn, is expected to increase the demand for demulsifiers and thereby drive the growth of the market. Furthermore, the high growth of the oil and gas industry in the recent past is expected to increase the demand for demulsifier chemicals and hence boost market growth during the forecast period. Moreover, increasing oil and gas mining activities with the shale gas revolution in the U.S. has impacted its economy positively. This is expected to increase the demand for demulsifier chemicals and thereby propel the growth of the market.
Furthermore, demulsifiers are majorly used in lubricants manufacturing. The lubricants manufacturing industry has witnessed significant growth in the recent past, which will drive the growth Global Demulsifiers Market in the near future. However, stringent environmental regulations on the use of toxic chemicals by governmental authorities are expected to restrain the growth of the market during the forecast period. Emphasis on the use of green demulsifiers, which are manufactured using environmentally-friendly chemicals, is projected to offer lucrative opportunities for the market during the forecast period.
Key Developments
- In 2021, Stepan Oilfield Solutions provides demulsifier intermediates to upstream & downstream challenges. The company has acquired a line of KMCO's demulsifier intermediates that will help service companies deliver consistent field performance with their formulated products.
- In 2019, Nouryon introduced a range of Demulsifiers that provide oil producers with a more sustainable option to separate crude oil from natural gas and water.
- In 2016, SI Group, which is a developer and manufacturer of chemical intermediates, solutions, and specialty resins acquired TPC Groups.
Key Players
The major players in the market are BASF, The DOW Chemical Company, Baker Hughes Incorporated, Ecolab Inc, Halliburton, Croda International PLC, MomentivePerformance Materials, Innospec Inc., SI Group, Huntsman Corporation, DorfKetal, and Aurorachem.
Verified Market Research has segmented the Global Demulsifier Market On the basis of Product, Application, and Geography.
- Demulsifier Market, By Product
- Oil-Soluble Demulsifier
- Water-Soluble Demulsifier
- Demulsifier Market, By Application
- Oil-Based Power Plant
- Crude Oil
- Petroleum Refineries
- Lubricant Manufacturing
- Sludge Treatment
- Others
- Demulsifier Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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