Global Oil Spill Dispersants Market: Introduction
Oil spill accidents are common and significant threat to aquatic life and the marine environment. Dispersants are chemical agents (similar to detergents) used to breakdown the layer of oil into small particles and dilute the oil slick to mix with water. In other words, oil spill dispersants are liquids that are sprayed on spilled oil on the sea to disperse the oil into the water column. Dispersants have lipophilic and hydrophilic ends, which have an affinity for oil and water. Oil droplets disperse with wave energy, then repel each other and usually do not coalesce. Corexit 9500 is a dispersant that is widely used in the Deepwater Horizon Spills. Accidental spills can also occur beneath the sea surface due to blow outs of oil exploration wells such as BP Gulf of Mexico disaster in 2010 caused by pipeline ruptures, and shipwrecks. Oil leaking from a pressurized underwater does not easily come to the surface which leads to exposure of harmful contaminants to plankton.
Global Oil Spill Dispersants Market: Trends & Demands
Historically, 47,000 tons of oil lost between 2010 and 2017 caused by 53 oil spills. More than 80% of this lost amount was occurred by only 10 major incidents from total 53 spills during the same period. In 2017, approximately 7000 tons of oil was lost to the environment. Two large spills recorded in 2017. The first large spill occurred in June when a tanker sank in the Indian Ocean with over 5000 tons of oil on board. The second incident involved the sinking of a tanker off the coast of Greece in September. It spilled about 700 tons of oil. These incidents results increased the demand for efficient dispersants. However, there are many regulations and prior permission to be sought before using dispersants on spilled oil on water. Use of dispersants on spilled oil in water depths of 20 meters is only allowed after permission has been granted. Implementation of rigid regulations and lack of efficient dispersants are anticipated to restrain the market during forecast period.
Global Oil Spill Dispersants Market: Segmentation
Based on application, the global oil spill dispersants market can be bifurcated into onshore and offshore. In terms of type, the market can be divided into surfactants and solvents. Surfactants are majorly used oil spill dispersants owing to effective dilution of oil through water.
Global Oil Spill Dispersants Market: Regional Outlook
Based on region, the market can be segregated into North America, Europe, Asia Pacific, and Rest of the World. Europe accounted for a dominant share of the global oil spill dispersants market in 2017. Europe and North America cumulatively accounted for more than 70% share of the global market in 2017. In terms of value and volume, the market in Asia Pacific is estimated to expand at a rapid pace during forecast period owing to huge oil spills in the East China Sea. China and Japan are key countries of the market in the region due to high number of oil spills requiring the use of oil spill dispersants. In January 2018, the sinking of oil tanker ‘Sanchi’, 160 nautical miles off Shanghai, which was carrying 136,000 tons of condensate oil, was the world’s largest marine pollution incident since the March 1989, Exxon Valdez oil spill off the coast of Alaska, in the U.S.A. Oil spills of 10 tons to 50 tons were common, accounting for 122 incidents and there were five spills of over 1,000 tons. Five oil spills of over 10 tons took place near the coasts of Japan and South Korea in 2017. The market in Europe is anticipated to expand at a considerable pace during the forecast period. Increasing demand for oil spill dispersants in Europe can be attributed to the rapidly growing sea-based transportation and business. North America is an emerging region for the oil spill dispersants market. Expansion of the market in the region can be attributed to the presence of numerous manufacturers in the region. The U.S. is a major country of the oil spill dispersants market in North America.
Global Oil Spill Dispersants Market: Key Players
Key companies operating in the global oil spill dispersants market include Canadyne Technologies Inc, SAF-RON INTERNATIONAL, Oil Spill Response Limited (OSRL), and Elastec.
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