Barium Petroleum Sulfonate: Introduction
- Barium petroleum sulfonate is used for formulations that require a high level of non-staining rust protection. It is primarily employed as a surfactant and rust preventing agent. It serves as a corrosion inhibitor in mill oils and as an additive agent for metalworking fluids and engine oil.
- Barium petroleum sulfonate plays a vital role in hydrocarbon drilling fluids. It is used to increase the fluid density of drilling fluid. Barium petroleum sulfonate is also a widely preferred paper brightener, demulsifying agent, and wetting agent for hydraulic fluids and slushing oils.
- Barium petroleum sulfonate is also used in soil testing, metal casting, brake linings, root canal fillings, and powder coatings
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Key Drivers of Barium Petroleum Sulfonate Market
- Rise in demand for energy is likely to boost hydrocarbon exploration and drilling activities in the near future
- Barium petroleum sulfonate is used as detergent in fuel additives. It is also employed in metalworking fluids. Barium petroleum sulfonate offers higher oil dissolvability, resistance for water displacement and moisture, protection of non-ferrous metals from corrosion, and stability under varying environments. Increase in demand for metalworking fluids is expected to drive the demand for barium petroleum sulfonate in the next few years.
- Demand for specialty lubricants is estimated to increase during the forecast period due to rapid industrialization in emerging economies, rise in construction activities, and the subsequent growth in demand for highly advanced equipment. Rise in consumption of specialty lubricants is estimated to propel the demand for barium petroleum sulfonate during the forecast period.
- Increase in environmental concerns pertaining to disposal of drilling fluid and rise in stringent regulations related to usage of drilling fluids are projected to hamper the demand for barium petroleum sulfonate during the forecast period
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Covid-19 Impact on Barium Petroleum Sulfonate Market
- The global barium petroleum sulfonate market is likely to suffer substantially post the coronavirus pandemic owing to the contraction of end-use industries
- The global spread of the COVID-19 has substantially disrupted supply chains in the global barium petroleum sulfonate market. Low production rates, stockpiled inventory issues, and decreased labor availability are projected to be significant supply-side factors that are anticipated to hamper the barium petroleum sulfonate market in the near future
Barium Petroleum Sulfonate Market: Application Segments
- Based on application, the global barium petroleum sulfonate market can be divided into corrosion inhibitors, rust preventatives, coatings & greases, slushing oils, hydraulic fluids, and others
- Demand for barium petroleum sulfonate is expected to be high in rust prevention applications in the near future, since it provides high protection from dampness and saltwater spray test
North America to be Key Region of Global Barium Petroleum Sulfonate
- In terms of region, the global barium petroleum sulfonate market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is estimated to contribute higher demand for barium petroleum sulfonate than other regions during the forecast period, due to surge in drilling activities in the region
- Expansion of the metalworking industry in Asia Pacific is likely to provide significant opportunities for the barium petroleum sulfonate in the region in the near future
Key Manufacturers Operating in Market
The global barium petroleum sulfonate market was fragmented in 2019. Key manufacturers operating in the global market include:
- MORESCO Corporation
- Ganesh Benzoplast Limited
- Wilterng Chemicals Ltd
- Eastern Petroleum Pvt. Ltd.
- King Industries, Inc.
- Unicorn Petroleum Industries Private Limited
- Eastern Petroleum Pvt. Ltd.
Global Barium Petroleum Sulfonate Market: Research Scope
Global Barium Petroleum Sulfonate Market, by Application
- Corrosion Inhibitors
- Rust Preventatives
- Coatings & Greases
- Slushing Oils
- Hydraulic Fluids
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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- Asia Pacific
- Latin America
- The Middle East and Africa
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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