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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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

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:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

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?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Oil Spill Dispersants Market

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