The global demulsifier market is projected to generate $3,485.6 million revenue by 2030, advancing at a CAGR of 4.2% during 2021–2030. The increasing demand for crude oil and oil derivative products and the growing end-use industries, including oil sludge treatment, lubricant manufacturing, and pesticide manufacturing, are the strongest forces aiding the market advancement. Moreover, the surging need for petroleum refining, due to the increasing demand for petroleum products from the automotive and chemical industries, is also supporting the market growth.
Based on type, the market is bifurcated into water-soluble and oil-soluble demulsifiers. Of these, oil-soluble demulsifiers are widely used in the market and the category is also expected to grow at a higher rate during the forecast period. The growing crude oil processing and petroleum refining industries are utilizing these demulsifiers, owing to their superior performance. Also, these are soluble in crude oil and organic solvents such as ethanol, benzene, and methylbenzene, among others, instead of water. Moreover, oil-soluble demulsifiers improve the oil processing process by enhancing the quality of extracted oil while reducing wastage.
Based on application, the market is categorized into oil sludge treatment, petro refineries, crude oil processing, lubricant manufacturing, and others. Among these, the crude oil processing category held the majority of revenue share, of 37.5%, in 2021 in the market. This is due to the surging crude oil demand from the automobile, energy, transportation, aerospace, and chemical industries. Further, the increasing oil exploration & production activities to meet the rising oil demand along with technological developments in exploration and extraction processes will also lead to a greater demand for demulsifiers in the crude oil processing industry.
Whereas, petro refineries account for the second-largest market share, due to the surging demand for refined petroleum from the automotive and chemical industries. The growing automotive sector provides ample opportunities to market players, as the high need for refined petroleum products increases the demand for demulsifiers.
Globally, the MEA demulsifier market accounts for the largest revenue share and is also set to showcase the fastest growth, owing to the presence of large oil reserves and oil processing companies and high oil production in the region.
In addition, North America holds the second position in the market. This is attributed to the increasing crude oil needs and the growing lubricant manufacturing and petroleum processing industries in the region.
Additionally, it is projected that the APAC market will experience considerable growth in the coming years. The surging economic development, rapid urbanization, and rising buying power are luring businesses to establish industrial facilities in Malaysia, South Korea, China, and India, creating a high demand for demulsifiers in the region.
Major players operating in the demulsifier market include BASF SE, Baker Hughes Group, Clariant International Ltd., The Dow Chemical Company, Ecolab USA Inc., Schlumberger Limited, Roemex Ltd., Croda International Plc, Halliburton Energy Services Inc., and Momentive Performance Materials Inc.