Increasing Number of Oil Fields in Operation Set to Drive the Oilfield Surfactants Market to Over $1 Billion by 2020

HYDERABAD, India, January 29, 2015 /PRNewswire/ --

Oil field Surfactants are amphiphiles that are used to lower surface tension between two liquids. These speciality oil field chemicals are used in oil extraction, transportation and refining processes due to their function of being used as emulsifiers, corrosion inhibitors, dispersants, lubricants and so on. The market is segmented in to various types, applications, substrates along with detailed geographic analysis. The IndustryARC estimates that the market Volume for oilfield surfactants in 2014 to be 598.1 KT.

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The major factor that is contributing to the growth of demand for oil field surfactants is increase in discovery of new oilfields and increase in number of oil fields in operation. The advent of technologies for extraction of shale oil and gas has been a prominent phenomenon in U.S. and European nations including Germany & France. The hydraulic fracking is the most common technique involved in oil extraction from shale formations requiring oilfield surfactants in oil drilling, extraction and transportation as drilling fluid, well stimulating agent and cementing chemical. This coupled with increase in demand from emerging regions is providing the much needed impetus to the market demand.

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The anionic surfactants are the dominant type accounting for more than 30% in 2014. The amphoteric surfactants are poised to exhibit the fastest growth due to their usage as corrosion inhibitor. Each of these broader categories is further sub segmented based on their chemical nature.  Emulsification/de-emulsification is the dominant application of oil field surfactants in oil and gas industry. These are also used as wetting and suspending agents predominantly. The growing shale oil production, particularly in U.S is forecast to propel the demand in North America region  The method of extraction from the shale oil reservoirs include fracking, horizontal drilling and multi-well pad drilling that require considerable usage of oilfield specialty chemicals such as surfactants for utilization as emulsifiers and wetting agents. The growing safety concerns and environmental protection laws have led to a growing surfactant market for corrosion inhibition and dispersant uses.

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Stepan, Azkonobel, Huntsman, Lubrizol, Dow Chemicals and BASF are some of the prominent market players in oil field surfactants. The top 5 major companies account for more than 50% of the market share in 2014. Stepan occupies the dominant share in the market followed by Azkonbel and Lubrizol. An in-depth analysis of their market expansion strategies along with business overview, product and services offered, financials and developments are provided in the report.

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SOURCE IndustryARC