NEW YORK, Nov. 14, 2023 /PRNewswire/ — The oil field bio-solvents market is expected to grow by USD 19.39 million from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 2.18% during the forecast period, according to Technavio. Increasing demand for environment-friendly products is notably driving the oil field bio-solvents market. However, factors such as Variations pertaining to the availability of raw materials for bio-based solvents may impede market growth. The market is segmented by type (hydrocarbons, esters, alcohols, glycols, and others), application (oil and gas, transportation, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). We provide a detailed analysis of 20 companies operating in the oil field bio-solvents market including Ashburn Chemical Technologies, BASF SE, Croda International Plc, Dow Chemical Co., DuPont de Nemours Inc., Evonik Industries AG, Gemtek Products, Halliburton Co., Kemira Oyj, National Aluminium Co. Ltd., Pilot Chemical Co., Seatex Corp., Solvay SA, Stepan Co., and Thermax Ltd.
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Oil Field Bio-solvents Market 2024-2028: Company Analysis
Ashburn Chemical Technologies – The company offers oil field bio solvents for applications such as automotive, aerospace, and transportation.
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Oil Field Bio-solvents Market 2024-2028: Segmentation
Type
- The hydrocarbons segment is estimated to witness significant growth during the forecast period. Organic compounds made up of hydrogen and carbon atoms are referred to in this segment. Moreover, they are widely used in the oil industry for the removal of oils and greases, as well as for the removal of stains from surfaces, as effective and safe cleaning agents.
- application (oil and gas, transportation, and others)
Geography
- North America is estimated to contribute 29% to the growth of the global market during the forecast period. The environmental regulations regarding VOC emissions from solvents in the region are one of the major factors that have significantly influenced the market for oilfield Bio Solvents. In addition, rapid expansion of oil and gas drilling and production activities have been observed in regions such as North America.
- Europe, APAC, Middle East and Africa, and South America
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Oil Field Bio-solvents Market 2024-2028: Key Highlights
- Historic Market Size 2018-2022
- CAGR of the market during 2024-2028
- Detailed information on factors that will assist oil field bio-solvents market growth during the next five years
- Estimation of the oil field bio-solvents market size and its contribution to the parent market
- Forecasts on upcoming trends and changes in consumer behavior
- The growth of the oil field bio-solvents market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of oil field bio-solvents market companies
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Oil Field Bio-solvents Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.18% |
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Market growth 2024-2028 |
USD 19.39 million |
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t structure |
Fragmented |
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YoY growth 2022-2023 (%) |
1.89 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
North America at 29% |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
