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Increasing Investment and Crude Oil Production is estimated to Grow the consumption of Demulsifier Market Size
HYDERABAD, TELANGANA, INDIA, November 25, 2022 /einpresswire.com / -- IndustryARC, in its latest report, predicts that demulsifier market is forecast to reach US$2.1 billion by 2026, after growing at a CAGR of 3.8% during 2021-2026. Demulsifiers are specialty chemicals that are a combination of demulsifying compounds such as phenol-formaldehyde resin, used for the separation of water from crude oil during the crude oil production processes. Crude oil is produced from a reservoir, it tends to become mixed with either natural formation water or mixed formation and injection water. It is critical for refining process operations that the crude oil is efficiently and quickly separated with the help of demulsifiers. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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This IndustryARC report on the Demulsifier Market highlights the following areas -
1. The Middle East dominates the market of demulsifier market due to increasing crude oil production in Middles East countries such as Egypt, Saudi Arabia, United Arabia Emirates, and others.
2. According to the US Energy Information Administration, in Egypt, Crude Oil production increased 602 thousand barrels per day in May 2020 as compared to 568 thousand barrels per day in April 2020.
3. Additionally, increasing consumption of specialty chemicals for lubricant manufacturing, petrochemical refineries, sludge oil treatment, and others application is estimated to grow the consumption of demulsifiers.
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1. Oil-soluble type segment held the largest share in the global demulsifier market in 2020 as they improve the burning characteristics of the crude oil. Oil-soluble soluble in water, toluene, Xylene, an aromatic solvent that helps for the demulsification of water in oil and oil in water. It is highly capable at room temperature for crude oil demulsification.
2. The Middle East dominated the global demulsifier market in 2020 with 33%, due to increasing crude oil production in Egypt, Iran, Saudi Arabia, and other Middle East countries. According to the BP Statics, in the Middle East, crude oil production increased by 1% to 1494.1 million tons in 2018 as compared to 1479.3 million tons in 2017.
3. Crude oil dominated the global demulsifier market in 2020 and is growing at a CAGR of 3.1% during 2021-2026. Demulsifiers used for water separation from crude oil are a combination of compounds such as phenol-formaldehyde resin having a demulsifying activity that assists demulsification.
The top 5 players in the Demulsifier Industry are -
1. Schlumberger Limited
3. Baker Hughes Incorporated
4. BASF SE
5. The Dow Chemical Company
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