- Barium petroleum sulfonate is a viscous liquid having dark-brown color. It is manufactured from sulfonic acid and neutralized with barium oxide. Barium petroleum sulfonate is soluble in oil and solvents. A new study by Grand View Research, Inc. predicts rapid growth in the barium petroleum sulfonate market during 2015 to 2022.
For Market Research Report on “Barium Petroleum Sulfonate Market” Visit -http://www.grandviewresearch.com/industry-analysis/barium-petroleum-sulfonate-market
Barium petroleum sulfonate is mainly used in hydrocarbon drilling, wherein it increases the density of drilling fluids. High energy needs globally are leading hydrocarbon exploration/production companies to execute extensive drilling activities. Moreover, drilling is being done more in deeper and harsher formations, consuming large quantities of the chemical.
Governments are striving to resolve the growing energy deficit. This is estimated to aid the barium petroleum sulfonate market. The chemical finds multiple applications across industry verticals. It is a first-rate rust inhibitor. It also acts as a wetting and demulsifying agent, paper brightener, non-staining agent, dispersant in engine oils, and detergent in fuel additives.
Some other applications include powder coatings, soil testing, metal casting, colorimetry, brake linings, and root canal fillings. While the use of this chemical in hydrocarbon drilling will continue to fuel market growth, its application as a rust inhibitor will also increase market demand. Speedy industrialization, especially in developing economies, will expand the segment of rust-inhibitors.
However, drilling fluids have injurious effects and pose concerns regarding their disposal. Stringent environmental regulations with respect to the above are expected to hamper the barium petroleum sulfonate market. Another challenge is inconsistent investments by oil and gas companies in the exploration and production of hydrocarbons owing to varying hydrocarbon prices.
North America accounted for the highest market share in the recent past. It is estimated to continue its dominance over the next seven years. Extensive drilling activities along with persistent shale gas explorations will contribute to this dominance. Middle East and Africa will generate high demand due to huge offshore and onshore hydrocarbon explorations.
India, Brazil, China, and the U.S. have very high energy requirements. This is prompting governments to initiate and support hydrocarbon drilling, resulting in added fuel in these nations. Players bank on superior and widely-applicable products to attain growth. Some of the participants in the barium petroleum sulfonate market are Eastern Petroleum Pvt. Ltd., Gars Lubricants, and Unicorn Petroleum Industries Pvt. Ltd.
Information Source: Grand View Research
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