Global barium petroleum sulfonate market is projected to witness rapid growth owing to increased drilling activities over the forecast period. Growing energy demand has prompted hydrocarbon exploration & production companies to increase their drilling activities. Such a trend is presumed to positively impact the market over the next seven years. Wide acceptance across diverse industries is another major factor projected to aid the global market.
This chemical is produced from sulfonic acid and is neutralized with barium hydroxide. It is majorly used as a component in hydrocarbon drilling fluids. It is used to increase the fluid density of drilling fluid. Barium petroleum sulfonate has several other applications across diverse industries. Corrosion or rust inhibition is a prominent application.
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Other prominent uses include demulsifying agent, non-staining agent, wetting agent, paper brightener, dispersant in engine oils and for formulating hydraulic fluids and slushing oils. A few niche applications include soil testing, colorimetry, metal casting, brake linings, powder coatings, and root canal fillings. Barium petroleum sulfonate is also used for grease and metal working fluid manufacture and as a detergent in fuel additives.
It provides good protective coating films and high resistance to humidity & saline water. Barium petroleum sulfonate is extensively used in drilling fluids during hydrocarbon drilling operations. Growing energy demand leading to increased drilling operations across the globe is expected to complement the barium petroleum sulfonate market.
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Shifting drilling trend towards deeper and harsher formations necessitates the use of higher density drilling fluids, thereby requiring more barium petroleum sulfonate per well. Such favorable trends are expected to further aid the industry. Recent spurt in unconventional hydrocarbon exploration is a major factor that is expected to favor growth over the near future. Owing to its applications as a rust inhibitor across various industries, rapid industrialization, particularly in the emerging economies is presumed to complement the market over the forecast period.
Regulations related to drilling fluids and environmental concerns regarding the drilling fluid disposal are anticipated to negatively impact the global market over the next seven years. Volatile hydrocarbon prices lead to fluctuating investment levels by oil & gas companies in hydrocarbon exploration & production activities. Such fluctuations are expected to hinder market growth in the near future.
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