Growth Drivers
Challenges
Growth Drivers
Extensive Use in Automotive Industry – Dispersants are added to lubricating oils in engines to prevent the buildup of sludge and varnish on cylinder walls, keeping them clean. This demand is anticipated to improve the organic dispersants’ market share. China’s domestic production of vehicles is expected to reach around 35 million by the year 2025. In 2020, it sold over 25 million vehicles.
Treatment of Oil Spills - In an oil spill, dispersants break down petroleum into smaller droplets and help to clear the oil from the water's surface. As per the International Tanker Owners Pollution Federation (ITOPF), approximately 10,000 tons of oil was spilled in 2021, far more than in 2020.
Increasing Use in Paper Industry - The growing demand for good quality, cost-effective paper in developing countries such as China and India are predicted to drive the market for organic dispersants. As per latest studies, India alone manufactures more than 12 million tons of paper, contributing to around ~3% share of the world’s paper production.
Growing Demand in Oil & Gas Production –Crude Oil production worldwide was around 4141 MT in the year 2020, according to the International Energy Agency (IEA), and is expected to increase post-pandemic, driving the market growth of organic dispersants.
Rising Use in Agriculture- Organic dispersants increase the efficiency of biocides used in agriculture. According to the Food and Agriculture Organization of the United Nations, around 4.2 million tons of pesticides were used worldwide in the year 2019.
Challenges
The global organic dispersants market is segmented and analyzed for demand and supply on the basis of product type into oligomer and polymer organic dispersants. Out of these, the oligomer sub-segment is projected to grow at a higher CAGR during the forecast period, owing to its utility in many industries, such as, the cosmetics and pharmaceutical industries. As per the latest report, the global cosmetics industry earned over USD 370 billion. Growth of the cosmetic industry is expected to boost the market growth.
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
5.6% |
Base Year Market Size (2024) |
USD 5.58 billion |
Forecast Year Market Size (2037) |
USD 11.33 billion |
Regional Scope |
|
Author Credits: Rajrani Baghel
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