Bio-solvents are used in oilfield operation during enhanced oil recovery processes as well as cleaners for oilfield equipment. Application of biocides in oilfield activities include its injection during oil recovery, fracking, drilling, pit treatment, and others. In the oilfield activities and especially during drilling and oil recovery, microorganisms can have a severe impact on the oil recovery process due to microbial corrosion of the equipment and the piping systems and by formation of bio-films on the walls of storage tanks, on the filters and valves. Thus, plugging the flow and causing degradation of the oilfield chemicals being used and corrosion of the pipes. Biocides are used to kill these microorganisms to prevent these situations.
Market Scope and Structure Analysis
Oilfield biocides and bio-solvents are being used on a large scale in oil & gas industry along with many other sectors and it is expected to drive the oilfield biocides and bio-solvents Market’s significant growth in the next upcoming years.
COVID-19 Impact Analysis
- The outbreak of the COVID-19 pandemic has severely affected the business of almost all industries, while the COVID-19 pandemic crisis unfolds, regulatory bodies all over the world are in the compulsion to impose strict lockdown and travel bans. Moreover, this has drastically affected the growth of the oilfield biocides and bio-solvents market.
- Due to the COVID-19 pandemic, the supply chain systems were, disrupted as a number of fundamental equipment and materials are profoundly dependent on imports from other countries. Furthermore, the strict instruction of the governing bodies to follow social distancing norms forced the industries to work with minimal workforce, which led to the decrease in the production rate of the industries. Thus, all these factors negatively contribute to the growth of the oilfield biocides and bio-solvents market.
- However, after the COVID-19 pandemic, the diversified and innovative applications of oilfield biocides and bio-solvents such as drilling, production, hydraulic fracturing, enhanced oil recovery, degreasing & cleaning of equipment and others will foster the growth of the oilfield biocides and bio-solvents market.
Top Impacting Factors
- Strict regulations on volatile organic compound (VOC) content in different materials, since bio-solvents are made from renewable feed stocks.
- One major challenge for the biocide and bio-solvent industry in oilfields is the shift from crude oil to other renewable sources for various applications including fuel production and the rising market for oleo chemicals replacing the petrochemical demand. This affects the oilfield biocide and bio-solvent market adversely as the consumption of crude oil reduces thus directly affecting the demand for biocides and bio-solvents in oilfield operations adversely.
- Application of bio-solvents in the oilfield operation include during enhance oil recovery and during cleaning of equipment part to remove mud, soil, grease, polymers and other residues.
Market Trends
Key Market Segments
- By Type
- Biocides
- Bio-Solvents
- Hydrocarbons
- Alcohols
- Glycols
- Esters
- Ethers
- Others
- By Source
- Synthetic Biocides
- Natural Biocide
- Microbial Bio-Solvents
- Renewable feedstock for Bio-Solvents
- Others
- By Application
- Drilling
- Production
- Hydraulic Fracturing
- Enhanced Oil Recovery
- Degreasing and Cleaning of Equipment
- Others
- By Region
- North America
- Europe
- Spain
- UK
- Germany
- Italy
- France
- Netherlands
- Russia
- Belgium
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Taiwan
- Indonesia
- Malaysia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Argentina
- Colombia
- Chile
- UAE
- Israel
- Nigeria
- Rest of LAMEA
Key Market Players
- Pilot Chemicals
- BASF
- Dow chemicals
- Solvay
- Stepan Company
- Nanotera Group
- Nalco Champions
- Seatex Corp
- Croda Chemicals
- Ashburn Chemicals