The global oil spill dispersants market size was valued at USD 18.3 billion in 2017. The global oil spill dispersants market is driven by frequent oil spill incidents, increasing awareness and regulations against environmental and economic damages of oil spills.
Oil spill is a general term used for contamination of sea water, land water or land due to an oil pour or release due to either accident or human error. Oil sources are spread worldwide and it is drilled from both onshore and offshore locations. As oil is an essential energy source, consistent distribution and transportation of oil is very important. Oil is transported majorly by ships on seas and pipelines on land. Most accidents occur while transferring the oil to vessels, transportation, and pipeline ruptures, or while drilling on land. The small scale oil spills occur on a regular basis which could be controlled easily and quickly. However, large scale oil spills such as the Deepwater Horizon oil spill can have a catastrophic effect on the ecosystem of the surrounding environment for decades. Similarly, such large scale oil spills could lead to ruining the infrastructure and economy of the area with long-term effects. Hence, restricting oil spills at early stage becomes very to avoid or reduce any further environmental and economic loss. There are multiple products and services available in the market to prevent oil spills. The use of oil spill dispersants is one of the popular methods to reduce the effect of the oil spill. Dispersants are chemical agents that help break up oil into very small droplets following the oil spill restricting possible damages.
Growth of the oil spill dispersants market is directly dependant on the frequency of oil spill incidents, duration and volume oil spill. The number of large-scale oil spills per year are reducing since last decade, however small-scale oil spills are very frequent which will be primarily driving the market for oil spill dispersants. In addition, consistent search for new oil sources and newly established oil rigs will further fuel the growth for the oil spill dispersants market. Stringent government regulations and penalties to strengthen oil spill response is another driving factor for the global oil spill dispersants market.
Based on application, the global oil spill dispersants market is segmented into offshore and onshore. The offshore application segment led the market with 70% market share in the year 2017. The frequency and number of offshore oil spill incidents are comparatively higher than onshore oil spills, resulting in increased use of offshore oil spill dispersants.
Based on region, the global oil spill dispersants market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is estimated to dominate the oil spill dispersants market with an estimated market share of 29% in the year 2025. Presence of major oil rigs and frequent oil spills will be driving the market for North America region. Strong regulatory implications and the highest level of environmental awareness are further enhancing oil spill recovery measures in the region.
Oil Spill Dispersants Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2025||USD 22.1 billio|
|Growth Rate||CAGR of 2.3% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Key Players Profiled||ACME Environmental, Inc, Blue Ocean Tackle, Inc, Blue Ocean Tackle, Inc, Canadyne Technologies, Chemtex, Inc., and Desmi A/S, are amongst|
Key segments of the global oil spill dispersants market
Application Type Overview, 2015-2025 (USD million)
Regional Overview, 2015-2025 (USD million)
- North America
- Rest of Europe
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global oil spill dispersants market industry.
- The study explores primarily oil spill dispersants markets in the offshore and onshore applications. This study gives a brief understanding of both offshore and onshore oil spill dispersants market size, ecosystem, and future outlook.
- The study provides key insights on market opportunities in application and region segment. Asia-pacific and Middle East & Africa is the thriving market for oil spill dispersants. The study will further provide deep insights into each region and key countries.
- The study evaluates leading players in the oil spill dispersants industry based on revenue, sales volume, recent developments, product evaluations, and SWOT analysis. The company profile section of the report will provide key insights on vendor landscape, leading players and unexplored growth opportunities.
What does the report include?
- The study on the global oil spill dispersants market includes qualitative factors such as drivers, restraints, and opportunities
- Additionally, the market has been evaluated using the value chain and Porter’s Five Forces’ analysis
- The study covers the qualitative and quantitative analysis of the market segment on the basis of application and region. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
This study is suitable for industry participants and stakeholders in the oil spill dispersants market, who want an in-depth insight into the market
The report will benefit:
- Executives of oil spill dispersants product manufacturing companies that are engaged in the manufacturing and distribution
- Executives from oil spill recovery companies
- Oil companies looking for oil spill recovery service providers
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the oil spill dispersants market.
- Venture capitalist looking to investing capital
- Government organizations, regulatory authorities, policymakers and financial organizations
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies