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Pressnews.biz (Press Release) Apr 23, 2015
The report analyses the oilfield biocides and bio solvents markets in various applications and covers the market demand with respective regions. The report also provides a market overview for the oilfield biocides and bio solvents market. The oilfield biocide and bio solvents market have different applications in the oilfield among which drilling, production and hydraulic fracturing are the major applications. Europe when compared to other regions is estimated to have a low CAGR of 0.8% during 2015-2020 to reach $103.4m by 2020.
Synthetic materials used to prepare biocides and bio-solvents are toxic materials, which exhibit intrinsic properties which are harmful to the human beings when there is an interaction. Government regulatory bodies like European Chemicals Agency (ECHA), Environmental Protection Agency (EPA), European Solvents Industry Group and others have regulations for bio-solvents with eco-friendly formulations. However, bio-based solvents are derived naturally from the renewable feed stocks such as corn, soybeans, orange peels and so on which have less effect on environment with no or less VOC.
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North America is the leading consumer of oilfield biocides and has the highest market share in the global oilfield biocides market. In North America, U.S. is the major country in terms of consuming high volumes and having high market revenue for oilfield biocides market. The RoW market is relatively small as compared to the North American market; however, it is growing rapidly as well with the high CAGR when compared with other regions. With respect to the global market, North America and Europe hold 74% of the entire oilfield biocide market share.
In this report, the market has been segmented by geography as North America, Europe, APAC and RoW. Market size of last year along with next 5 years’ forecast has been provided for each of these regions in the report. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the biocides and bio solvents market and future opportunities are provided in the report.
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