According to the research report titled ‘Oilfield Surfactants Market By Product, By Source, By Application Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global oilfield surfactants market is expected to grow substantially during 2020-2026.
Extensive usage of oilfield surfactants in an array of high revenue sectors is expected to drive the market growth over the forecast period. The product helps to reduce interfacial tension between two phases and surface tension of a liquid. Oilfield surfactants are known for their versatility in the chemical industry. They find applications in food processing, pharmaceuticals, drilling, and household detergents.
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Based on product terrain, oilfield surfactants market is bifurcated into non-ionic, amphoteric, cationic, anionic, and silicone. Among these, the cationic segment is expected to grow with a CAGR of 3% through 2026, mainly due to growing demand from oilfield drilling applications.
Meanwhile, silicone segment is poised to expand at 2% CAGR over the forecast period, on account of its usage in herbicides, PGRs, insecticides, and fungicides where properties like super-spreading and extra-wetting are desirable.
With regards to the application spectrum, global oilfield surfactants industry is bifurcated into EOR, drilling surfactants, spacers, surface active agents, foamers, stimulation flowback/ fluid recovery, cleaners, non-emulsifiers, wetting agents, and emulsion breakers. As per the report, the foamers segment is expected to exhibit 6% CAGR during 2020-2026. These agents are used to clean oil spills and are effective on fresh or brackish water.
Key players operating in global oilfield surfactants market size are Lubrizol Corporation, BASF SE, Ethox Chemicals LLC, Evonik Industries AG, Croda International plc., Flotek Industries Inc., Solvay S.A., Sasol Limited, 3M Company, Clariant AG, Halliburton, Libra Speciality Chemicals Ltd., Innospec Inc., Pilot Chemical Co., Stepan Company, Oxiteno USA LLC, Baker Hughes, Schlumberger Limited, The Dow Chemical Company, Ashland Global, Kao Corporation, and Nouryon Holding B.V. among others.
Elaborating further, emulsion breakers segment is reckoned to grow with a CAGR of 2.5% through 2026, as the product is used in prevention of fouling and corrosion of equipment by breaking the oil emulsions. Whereas, non-emulsifiers segment grew by 3% in the recent past, owing to its oilfield applications to reduce the emulsion tendency of residual oil with fluids.
From a regional perspective, Europe contributed 24% share in the overall market in past year. While Latin America market is expected to witness tremendous growth in the ensuing years, owing to equitable tax and fiscal regimes in various countries like Brazil and Venezuela.
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