Oil Spill Dispersants Market to Perceive Substantial Growth During 2024
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.
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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.
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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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