Research Nester published a report titled “Oilfield Biocides Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global oilfields biocides market in terms of market segmentation by type, application, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global oilfield biocides market is projected to grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be ascribed to the factors such as, the growing oil & gas industry, rising utilization of hydraulic technology, and increasing demand for petroleum-based products. Moreover, significant utilization of oilfield biocides for multiple procedures, such as, drilling protection, pipeline pigging, crude oil transportation and treatment, and others, is estimated to boost the market growth. For instance, the daily demand for crude oil is anticipated to reach about 100 million barrels worldwide during the forecast period.
Additionally, by type, the global oilfield biocides market is segmented into THPS, TTPC, QAC, DBNPA, and others. Out of these sub-segments, the DBNPA segment is anticipated to grow at a notable pace in the market during the forecast period. The growth of the segment can be ascribed to its higher utilization in various industrial processes owing to its bacteria removal properties. Furthermore, a report of the National Library of Medicine (NLM) stated that DBNPA is utilized on account of its quick chemical breakdown and immediate antimicrobial activity.
Furthermore, the global oilfield biocides market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The growth of the market in the region is accounted to the factors, such as, the presence of major companies in the region, escalating gas activities, and rising production of shale oil in the region. For instance, the production of natural gas in the North America region was projected to be about 1 trillion cubic meters in 2020, while the oil production amounted to approximately 20 million barrels a day. Such factors are anticipated to drive the growth of the market during the forecast period.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Significant Utilization During Pipeline Installation to Foster the Growth of the Market
In 2020, 650 oil pipelines we observed to be operational while 30 pipelines were under construction in a similar year.
Biocides are widely known for their bacteria removal properties and are utilized by multiple companies on a higher scale. Oilfield biocides are applied in pipelines during hydrostatic testing to prevent bacteria formation and corrosion. Such factors are projected to hike the growth of the market over the forecast period.
However, access to alternative products in the market is expected to operate as a key restraint to the growth of the global oilfields biocides market over the forecast period. This report also provides the existing competitive scenario of some of the key players in the global oilfields biocides market which includes company profiling of Evonik Industries AG, Baker Hughes Company, CES Energy Solutions Corp., Albemarle Corporation, Zirax Limited, Flotek Industries, Inc., Huntsman Corporation, Chevron Phillips Chemical Company, LLC, Gumpro Drilling Fluids Pvt. Ltd., and Big Oil Co. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global oilfields biocides market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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