(EnergyIndustry.Net, September 10, 2021 ) The demulsifier market size is projected to reach USD 2.6 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 4.0%, during the forecast period. The Middle East is the largest market, followed by North America and Europe. An increase in crude oil production post COVID-19 pandemic is expected to drive the market. Stringent environmental regulations and geopolitical issues in the Middle East region are the factors restraining the market growth. The discovery of new oilfields, an increase in aging oil reservoirs, and increasing demand for green demulsifiers are expected to provide high growth opportunities to manufacturers.
Baker Hughes Incorporated (US), Clariant (Switzerland), The Dow Chemical Company (US), Croda International (US), Ecolab Inc. (US), Halliburton (US), Schlumberger Limited (US), BASF SE (Germany), Nouryon (Netherlands), and Momentive Performance Materials (US) are the major players in this market.
Baker Hughes (US) is focusing on new product development to strengthen its product portfolio and to be able to cater to the specific needs of its customers. For instance, Baker Hughes launched the Tretolite Snap, which is a fluid separation technology. This technology includes demulsification and water clarification, which assist the operator in sustaining dry oil and good water quality without limiting the production. The company is striving to take initiatives in terms of innovation and development of new technologies to maintain a competitive edge in the market.
Clariant is strongly focusing on divestment strategy by divesting its masterbatch and pigments business units. The divestment strategy will help the company focus on its core business areas, including care chemicals, natural resources, and catalysis. The company continues to focus on innovation and sustainability, portfolio management, and development of its existing core business areas. It is strengthening its product portfolio in existing and adjacent markets through innovative and cost-effective investments. The company is intensifying its growth by strengthening its market presence in Asia and North America, which hold significant growth potential. The company is also aiming to become a leading solution provider and preferred partner for customers through geographical expansion, diversification of customer base, and new business developments.