Global Oil Field Bio-solvents Market 2017-2021
About Oil field Bio Solvents
Oilfield bio solvents are solvents rendered from renewable resources of biological origin such as fruits, plants, and others. They are mainly found in liquid form and have low carbon content. Some of the important oilfield bio solvents are hydrocarbons, ester, ether, alcohols, glycol, and others. Oilfield bio solvents are employed to prevent the impact of volatile organic compounds (VOC) on the environment. The derivation of bio solvents from renewable resources makes oilfield bio solvents show high performance as carrier solvents, formulating ingredients, and cleaning solvents. Oilfield bio solvents demonstrate the excellent ability of solvating pigments, resins, and oils and greases in different oilfield applications.
Technavio’s analysts forecast the global oil field bio-solvents market to grow at a CAGR of 4.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global oil field bio-solvents market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Oil Field Bio-solvents market 2017-2021
Technavio recognizes the following companies as the key players in the global oil field bio-solvents market: Ashburn Chemical Technologies, Croda, Stephan Company, and The Dow Chemical Company.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing commercialization of bio solvents. The global oilfield biocides and bio solvents market is expected to witness the emergence of oilfield biocides such as chlorine dioxide (ClO2). The rapid development of hydraulic fracturing and unconventional shale gas has led to the increased use of ClO2 in microbiological control technology, especially for frac water disinfection. The increasing preference of ClO2 is backed by its excellent properties such as prevention of souring and enhanced flow assurance in oilfields. ClO2 also offers an optimal solution for hydraulic fracturing and fly treatment of water. It treats the contamination caused by spores and bacteria. Some of the other advantages of ClO2 are lower dosage requirement, enhanced real-time control and monitoring, improved safety, and proven low environmental footprint. In addition, the global oilfield biocides and bio solvents market is expected to witness increasing commercialization of bio solvents. Bioethanol and methyl soyate are some of the solvents that are responsible for the increasing rates of commercialization.”
According to the report, Increasing demand for environment-friendly products. The global oilfield bio solvents markets have witnessed increasing customer focus and demand for environment-friendly materials or products, such as green and bio solvents. The global green and bio solvents are estimated to grow at a CAGR of 8.47% during the forecast period 2017-2021. The need for sustainable, and greener chemicals has prompted numerous research activities into renewable feedstock processing. To yield chemicals (bio) of interest, not only plants but also a variety of wastes may be exploited — from fruits to ashes associated with biomass incinerators.
Further, the report states that Variations pertaining to the availability of raw materials for bio-based solvents. Bio solvents depend primarily on the availability of feedstock, such as sugar cane, corn, oranges, tapioca, and wheat among others. The production of such crops depends upon climatic conditions. The production varies considerably every year and is subject to external factors such as excess rainfall, plagues of locusts, frost, and hurricanes. The non-availability of raw materials or fluctuations in the availability has a negative impact on the global oil-biocides and bio solvents market and could lead to high production costs.
Ashburn Chemical Technologies, Croda, Stephan Company, and The Dow Chemical Company.
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