Luton, Bedfordshire, United Kingdom, Nov. 24, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Demulsifier Market.
Demulsifier Market is expected to grow at a 4% CAGR during the forecast period, reaching US$ 2.99 billion by 2029, up from US$ 2.28 billion in 2021.
A demulsifier, also known as an emulsion breaker, is a chemical that separates emulsions like water in oil. Demulsifiers are substances that aid in the separation of crude oil and petroleum from water. They are compounds that are dispersed in small quantities into the emulsion during demulsifier injection.
The global demulsifier market is expanding at a steady pace as crude oil production rises around the world. Rising demand is driving crude oil production around the world, which in turn is driving demulsifier market growth. Increasing oil and gas mining activities with the shale gas revolution, as well as growing demulsifier application in lubricant manufacturing, are also driving global market growth.
Drilling technology, dynamic positioning equipment, and floating production and drilling units have made previously unattainable prospects feasible. This advancement is one of the primary factors driving the growth of the demulsifiers market.
Furthermore, the growing emphasis on the use of green demulsifiers, which are made with environmentally friendly chemicals, is expected to provide significant opportunities for the market during the forecast period.
“Increasing Global Lubricant Exports to Support Demulsifier Market Growth”
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Increasing Global Lubricant Exports to Support Market Growth
Demulsifiers are commonly used in the manufacture of lubricants. The lubricants industry has recently seen a significant increase in exports. Similarly, rising automobile production and sales have resulted in increased lubricant consumption, which is expected to drive demand for demulsifiers over the forecast period.
Rising Crude Oil Consumption Around the World
According to the U.S. Energy Information Administration (EIA), total global petroleum consumption in 2019 was approximately 100.37 million barrels per day (b/d). In 2021, the United States’ petroleum consumption will be 19.78 million b/d, including about a million b/d of biofuels.
Increasing oil production from mature and aging oil fields
Increasing Oil Production from Aging and Mature Oil Fields- According to a survey, mature oil and gas fields accounted for approximately 75% of global production in 2018.
Exploration and Discovery of New Oil and Gas Fields
Rising Research and Development Expenditures Around the World
Outbreak of Coronavirus had a negative impact on market
The toxic effects of chemicals used in demulsifiers on the environment, as well as the government enforcing stringent regulations, would dampen demand for demuslifiers during the forecasted period. Furthermore, a recent outbreak of coronavirus disrupted the oil reserves exploration project, and the supply of new machinery and equipment was also halted, further reducing overall demand for demulsifier.
The high cost of raw materials and the effect on supply-demand in the manufacturing sector impede market growth. However, oil soluble demulsifiers are hazardous to handle, and the chemicals used are inexpensive, which …