Summary
Global Demulsifier Market was valued at USD 2.41 Billion in 2023 and is expected to reach USD 2.93 Billion by 2029 with a CAGR of 3.35% during the forecast period.
The Global Demulsifier Market is witnessing significant growth, driven primarily by the rising demand for energy and the consequent expansion of oil and gas exploration and production activities. Demulsifiers, also known as emulsion breakers, are specialized chemicals used to separate water from crude oil during the extraction and refining process. Their importance is amplified by the increasing complexity of oil production, particularly with the shift towards unconventional oil sources such as shale oil and oil sands, which require more sophisticated demulsification solutions.
Geographically, the market is experiencing strong demand from regions with extensive oil and gas activities, particularly North America, the Middle East, and Asia-Pacific. North America, driven by the boom in shale oil production, is a significant contributor to the market's growth. Meanwhile, the Middle East remains a key region due to its vast oil reserves and ongoing exploration activities. In Asia-Pacific, the growing energy needs of emerging economies like China and India are fueling the demand for demulsifiers, as these countries ramp up their oil production efforts to meet industrial and consumer energy needs.
The market is also influenced by environmental regulations that mandate cleaner oil production processes. This has led to the development of more efficient and environmentally friendly demulsifiers that minimize water and oil contamination. The growing focus on sustainable energy practices is pushing companies to innovate and improve the performance of demulsification technologies.
Key Market Drivers
Increasing Global Energy Demand
The increasing global energy demand serves as a critical driver for the Global Demulsifier Market, as energy needs continue to escalate due to population growth, urbanization, and industrial expansion. With the world's population expected to reach nearly 10 billion by 2050, the demand for energy resources, particularly fossil fuels like crude oil, is rising substantially. This surge in energy consumption has led to an increase in oil exploration and production activities worldwide.For instance, According to the U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook for August 2024, global crude oil production is 77.19 million barrels per day. As a result, the need for efficient oil processing techniques has become more pronounced, particularly in the separation of water from crude oil, which is where demulsifiers play a crucial role.
Demulsifiers are chemical agents that break down emulsions, typically mixtures of oil and water, to separate the water from the crude oil. This process is essential for ensuring that the crude oil meets quality standards before refining. The growing demand for energy, especially in emerging markets such as China, India, and other rapidly developing economies, is driving the expansion of oil and gas exploration, both onshore and offshore. For instance, According the Indian Ministry of Statistics and Programme Implementation ‘s energy statistics report As of April 1, 2022, the estimated reserves of crude oil in India totaled 651.77 million tonnes, up from 591.92 million tonnes the previous year, reflecting an increase of over 10%. The geographical distribution of these reserves shows that the largest proportion is located in the Western Offshore, accounting for 33%, followed by Assam with 23%. These countries are experiencing rapid industrialization, urbanization, and economic growth, leading to higher energy consumption. As a result, the oil and gas sector is investing heavily in exploration and production, which, in turn, drives the demand for demulsifiers.
The shift towards unconventional oil sources, such as shale oil, tight oil, and oil sands, further amplifies the need for advanced demulsification solutions. Extracting oil from these unconventional sources involves complex processes that require more sophisticated demulsifiers to efficiently separate water from oil. The increasing reliance on these sources due to the depletion of conventional reserves underscores the importance of demulsifiers in maintaining the efficiency and productivity of oil extraction operations.
As global energy demand continues to grow, environmental regulations are also becoming more stringent, requiring cleaner and more efficient oil production processes. This trend further boosts the demand for high-performance demulsifiers that can meet both operational and regulatory requirements. In conclusion, the relentless rise in global energy consumption is a key factor driving the Global Demulsifier Market, with no signs of slowing down in the foreseeable future.
Expansion of Offshore Drilling Activities
The rapid expansion of offshore drilling activities is a crucial factor driving the Global Demulsifier Market. According to recent data from the National Development and Reform Commission (NDRC), the current spot price for Brent crude oil in the United States is approximately $84 per barrel. This rate reflects the cost of purchasing Brent crude oil for immediate delivery and is a key indicator in the global oil market. The spot price can fluctuate based on a variety of factors, including geopolitical events, changes in supply and demand, and market speculation. As the global demand for energy continues to grow, oil and gas companies are increasingly exploring untapped reserves in deepwater and ultra-deepwater regions. These regions often hold vast quantities of hydrocarbons but extracting them is technically challenging. Offshore drilling, which involves drilling wells beneath the seabed, presents numerous complexities, including the formation of stable emulsions. These emulsions, consisting of a mixture of oil, water, and other substances, can hinder the extraction process if not properly managed.
Demulsifiers play a vital role in this scenario by effectively breaking these emulsions and facilitating the separation of oil and water. Without the use of demulsifiers, the water content in the oil would remain high, leading to inefficiencies in production and challenges in meeting the quality standards for crude oil. As offshore drilling operations expand into more technologically advanced and harsher environments, the demand for specialized demulsifiers is rising. These demulsifiers need to perform under extreme conditions, such as high salinity, high pressure, and variable temperatures, making their development and application critical to the success of offshore projects.
Stringent regulatory requirements aimed at protecting the environment in offshore drilling areas have intensified the need for effective demulsification solutions. Regulatory bodies across the globe are increasingly mandating that produced water—water that is extracted alongside oil during drilling—be treated to remove contaminants before disposal. Demulsifiers, therefore, play a pivotal role not only in optimizing oil production but also in ensuring compliance with environmental regulations.
The continued growth of offshore drilling activities, particularly in key regions such as the Gulf of Mexico, the North Sea, and West Africa, is expected to significantly bolster the demand for demulsifiers. These regions are known for their prolific oil reserves and have seen a surge in exploration and production activities. As these projects progress, the reliance on demulsifiers to maintain operational efficiency and meet regulatory standards will only increase, further driving the market's growth.
Advancements in Demulsifier Technology
Technological advancements in demulsifier formulations and application methods are becoming a significant driver in the Global Demulsifier Market. The oil and gas industry continuously seeks ways to improve efficiency and minimize environmental impact, making modern demulsifiers more appealing. These advanced demulsifiers are specifically engineered to perform effectively under harsh conditions, such as high temperatures and high pressures, which are commonly encountered in deep-sea drilling and other challenging environments. This adaptability broadens their application scope, enabling oil producers to address complex emulsification issues more effectively.
One of the most notable advancements in demulsifier technology is the focus on developing environmentally friendly formulations. Traditional demulsifiers often contain harmful chemicals that can negatively impact ecosystems when discharged into the environment. In contrast, modern demulsifiers are increasingly being formulated to be biodegradable, reducing their ecological footprint. This shift aligns with the growing global emphasis on sustainability, particularly within the oil and gas sector, which is under pressure to reduce its environmental impact. The adoption of greener demulsifiers not only helps companies meet regulatory requirements but also enhances their corporate social responsibility (CSR) profiles.
Innovations in demulsifier delivery systems have revolutionized the efficiency of emulsion separation processes. The use of nanoparticles and microemulsions, for instance, has significantly improved the ability to break down water-in-oil emulsions. These advanced delivery systems allow for more precise targeting of emulsions, leading to faster and more efficient separation. This results in cost savings for oil producers, as less demulsifier is needed to achieve the desired separation, and there is a reduction in the downtime associated with processing emulsified oil. Enhanced oil recovery (EOR) is another critical benefit, as more oil can be extracted from reservoirs when emulsions are effectively managed. The ongoing advancements in demulsifier technology, therefore, represent a key growth driver for the Global Demulsifier Market, with the potential to shape the future of oil production.
Key Market Challenges
High Production Costs
High production costs are a notable challenge for the Global Demulsifier Market. The production of demulsifiers often entails intricate chemical processes and the utilization of specialized raw materials, which significantly elevate production expenses. The pursuit of advanced demulsifiers, designed to be more efficient and environmentally friendly, necessitates considerable investment in research and development (R&D). This investment in R&D not only drives up production costs but also results in higher prices for the final products. Consequently, the elevated costs may deter the adoption of newer or more advanced demulsifiers, especially in price-sensitive markets where cost considerations are paramount.
For smaller or emerging players in the market, these high production costs present a formidable barrier to entry. The financial burden of investing in sophisticated manufacturing technologies and R&D can restrict their ability to compete effectively and stifle innovation within the industry. As a result, market dynamics may be skewed in favor of larger, established players who can absorb these costs more readily. To address these challenges, manufacturers must explore strategies to manage and reduce production costs while maintaining high standards of effectiveness and environmental sustainability. This includes optimizing production processes, seeking cost-effective raw materials, and leveraging technological advancements to enhance efficiency. Balancing cost management with the need to meet evolving market demands for both effective and eco-friendly demulsifiers is crucial for sustaining competitiveness and fostering innovation in the industry.
Limited Awareness and Adoption in Emerging Markets
Limited awareness and adoption of demulsifiers in emerging markets pose a significant challenge for the Global Demulsifier Market. In many developing regions, including parts of Africa, Southeast Asia, and Latin America, the knowledge and use of advanced demulsifiers remain limited. These areas often depend on traditional emulsion separation techniques, which may lack the efficiency and environmental benefits offered by modern demulsifiers. The reluctance to transition stems from several factors, including unfamiliarity with the technology, a lack of demonstrated benefits, and the perceived high costs associated with advanced demulsifiers.
In addition to these awareness barriers, the financial constraints in emerging markets further hinder the widespread adoption of demulsifiers. Advanced demulsifiers can be expensive, and the initial investment required can deter companies operating in these regions from making the switch. Therefore, addressing this challenge involves more than just promoting the technology; it requires tailored strategies to make the products more accessible.
Manufacturers can tackle this issue by investing in comprehensive market education and awareness campaigns that emphasize the benefits and applications of demulsifiers. Demonstrating their advantages in improving efficiency and reducing environmental impact can help shift perceptions. Offering cost-effective solutions that cater specifically to the needs of these emerging markets can lower the entry barriers and encourage adoption. By focusing on these strategies, manufacturers can expand their market presence and drive growth in these developing regions.
Key Market Trends
Rising Investments in Unconventional Oil Sources
The increasing investments in unconventional oil sources, such as shale oil, oil sands, and heavy crude, are driving the growth of the Global Demulsifier Market. Unconventional oil sources often contain a higher percentage of impurities and water compared to conventional oil reserves. This makes the extraction, transportation, and refining processes significantly more complex. Demulsifiers play a crucial role in separating water and impurities from the oil, which is essential for maintaining the quality of crude oil and ensuring efficient refining operations.
In the shale oil industry, particularly in the United States, the rise of hydraulic fracturing and horizontal drilling has led to a surge in shale oil production. Shale oil tends to form more stable emulsions that are difficult to break. This has heightened the demand for high-performance demulsifiers that can efficiently handle these specific challenges. The continuous growth of shale oil production is expected to further elevate the need for demulsifiers tailored to this market.
Similarly, oil sands projects in Canada are another area where demulsifiers are in high demand. Oil sands extraction involves separating bitumen from sand, water, and other impurities, a process that heavily relies on demulsification. As the development of oil sands projects expands, so does the requirement for demulsifiers that can effectively treat the heavy and viscous emulsions encountered in this process.
In Latin America, the extraction of heavy crude oil, which has a high density and viscosity, presents significant challenges for oil producers. The use of demulsifiers is essential in breaking down the stable emulsions formed during heavy crude extraction, allowing for the efficient processing of the oil. With increasing investments in unconventional oil sources globally, the demand for specialized demulsifiers designed to address the unique challenges of these sources is expected to rise. This trend is likely to contribute significantly to the growth of the Global Demulsifier Market in the coming years.
Increasing Focus on Enhanced Oil Recovery (EOR)
The increasing focus on enhanced oil recovery (EOR) techniques is a significant driver for the demand for demulsifiers in the oil and gas industry. EOR methods, such as chemical flooding, gas injection, and thermal recovery, are employed to maximize oil extraction from mature and declining fields. These techniques often lead to the formation of stable emulsions, where water, oil, and other contaminants are tightly bound together, making the separation process challenging. Demulsifiers play a pivotal role in breaking these emulsions, allowing for the efficient separation of water and oil, which is critical to maximizing the recovery of hydrocarbons.
As traditional oil fields reach their peak production and output from conventional sources declines, oil companies are increasingly turning to EOR to maintain and boost production levels. This shift has heightened the demand for specialized demulsifiers that are capable of operating in harsh and complex environments typical of EOR operations. The efficiency of oil recovery in EOR projects is directly linked to the effectiveness of demulsifiers in separating emulsified water from the oil. Therefore, as the focus on EOR intensifies, the demand for advanced demulsifiers is expected to grow.
Regions like North America and the Middle East, where significant EOR projects are being undertaken, are particularly driving the demand for demulsifiers. In North America, for example, the shale revolution and the need to maximize output from aging wells have accelerated the adoption of EOR techniques. Similarly, in the Middle East, countries are investing heavily in EOR to enhance the productivity of their mature fields, thus driving the demand for demulsification solutions.
Segmental Insights
Type Insights
In 2023, based on the type, the Oil Soluble segment is dominating the Global Demulsifier Market. Oil soluble demulsifiers are preferred for their effectiveness in breaking emulsions that are predominantly oil-based, which is a common occurrence in the oil extraction and refining processes. These demulsifiers are specifically designed to operate in hydrocarbon environments where they can efficiently separate water from crude oil, thereby facilitating better processing and reducing operational costs. The high demand for oil soluble demulsifiers is driven by their superior performance in handling heavy and complex emulsions found in oil fields, refineries, and petrochemical industries.
The dominance of oil soluble demulsifiers is also supported by their versatility and effectiveness in various conditions. They can be formulated to address different types of emulsions, making them suitable for a broad range of applications. This adaptability contributes to their preference over water soluble demulsifiers, which are more suitable for applications where water is the continuous phase, such as in wastewater treatment or certain chemical processes.
Application Insights
Based on the application, the Crude Oil segment was dominated in the Global Demulsifier Market . In the Global Demulsifier Market, the crude oil segment dominates the application category. Crude oil is the primary sector utilizing demulsifiers due to the crucial need for effective emulsion separation during oil extraction and processing. Demulsifiers play a vital role in breaking down water-oil emulsions that commonly form in crude oil production. These emulsions can cause significant challenges in oil recovery and refining, leading to increased operational costs and inefficiencies.
The separation of water from crude oil is essential for ensuring the smooth operation of downstream processes, such as refining and transportation. Water present in crude oil can lead to corrosion, equipment damage, and reduced quality of the final product. Demulsifiers are chemical additives designed to break these emulsions, facilitating the separation of water from oil and improving the overall efficiency of the extraction and refining processes. The growing demand for crude oil, driven by industrialization and energy needs, particularly in developing regions, has amplified the reliance on demulsifiers. As crude oil production intensifies, the need for efficient separation technologies becomes more critical, further boosting the demand for demulsifiers in this sector.
Regional Insights
In 2023, North America emerged as the dominant region in the Global Demulsifier Market, holding the largest market share. North America's extensive crude oil production and refining activities significantly drive the demand for demulsifiers. The United States and Canada are major oil producers with advanced oil extraction and processing infrastructure, creating a substantial need for effective demulsification to manage water-oil emulsions. The region's focus on enhancing oil recovery and refining efficiency has spurred the adoption of advanced demulsifier technologies.
North America's robust industrial base and technological advancements contribute to its market leadership. The region is home to leading demulsifier manufacturers and a strong research and development ecosystem, which fosters innovation and the development of high-performance demulsifiers. This technological edge enables North American companies to offer superior products that meet the evolving needs of the oil and gas industry. The region's stringent environmental regulations and emphasis on reducing the environmental impact of oil production and processing further support the demand for demulsifiers. The need for environmentally friendly and efficient solutions aligns with the regulatory requirements and sustainability goals prevalent in North America.
Key Market Players
• Clariant AG
• Dow Chemical Company
• BASF SE
• Arkema S.A.
• Momentive Performance Materials, Inc.
• Schlumberger Limited
• Halliburton Company
• Baker Hughes Company
• Ecolab, Inc.
• Nouryan B.V.
Report Scope:
In this report, the Global Demulsifier Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Demulsifier Market, By Type:
o Oil Soluble
o Water Soluble
• Demulsifier Market, By Application:
o Crude Oil
o Petroleum Refineries
o Lubricant Manufacturing
o Oil Based Power Plants
o Others
• Demulsifier Market, By Region:
o North America
United States
Canada
Mexico
o Europe
France
United Kingdom
Italy
Germany
Spain
o Asia-Pacific
China
India
Japan
Australia
South Korea
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Demulsifier Market.
Available Customizations:
Global Demulsifier market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Demulsifier Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Oil Soluble, Water Soluble)
5.2.2. By Application (Crude Oil, Petroleum Refineries, Lubricant Manufacturing, Oil Based Power Plants, Others)
5.2.3. By Company (2023)
5.2.4. By Region
5.3. Market Map
6. North America Demulsifier Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Application
6.2.3. By Country
6.3. North America: Country Analysis
6.3.1. United States Demulsifier Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By Application
6.3.2. Mexico Demulsifier Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By Application
6.3.3. Canada Demulsifier Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By Application
7. Europe Demulsifier Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Application
7.2.3. By Country
7.3. Europe: Country Analysis
7.3.1. France Demulsifier Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type
7.3.1.2.2. By Application
7.3.2. Germany Demulsifier Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type
7.3.2.2.2. By Application
7.3.3. United Kingdom Demulsifier Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type
7.3.3.2.2. By Application
7.3.4. Italy Demulsifier Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Type
7.3.4.2.2. By Application
7.3.5. Spain Demulsifier Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Type
7.3.5.2.2. By Application
8. Asia-Pacific Demulsifier Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Application
8.2.3. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Demulsifier Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type
8.3.1.2.2. By Application
8.3.2. India Demulsifier Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type
8.3.2.2.2. By Application
8.3.3. South Korea Demulsifier Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type
8.3.3.2.2. By Application
8.3.4. Japan Demulsifier Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type
8.3.4.2.2. By Application
8.3.5. Australia Demulsifier Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Type
8.3.5.2.2. By Application
9. South America Demulsifier Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Application
9.2.3. By Country
9.3. South America: Country Analysis
9.3.1. Brazil Demulsifier Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type
9.3.1.2.2. By Application
9.3.2. Argentina Demulsifier Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Type
9.3.2.2.2. By Application
9.3.3. Colombia Demulsifier Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Type
9.3.3.2.2. By Application
10. Middle East and Africa Demulsifier Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Application
10.2.3. By Country
10.3. MEA: Country Analysis
10.3.1. South Africa Demulsifier Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Type
10.3.1.2.2. By Application
10.3.2. Saudi Arabia Demulsifier Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Type
10.3.2.2.2. By Application
10.3.3. UAE Demulsifier Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Type
10.3.3.2.2. By Application
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. Porters Five Forces Analysis
13.1. Competition in the Industry
13.2. Potential of New Entrants
13.3. Power of Suppliers
13.4. Power of Customers
13.5. Threat of Substitute Products
14. Competitive Landscape
14.1. Clariant AG
14.1.1. Business Overview
14.1.2. Company Snapshot
14.1.3. Products & Services
14.1.4. Financials (As Reported)
14.1.5. Recent Developments
14.1.6. Key Personnel Details
14.1.7. SWOT Analysis
14.2. Dow Chemical Company
14.3. BASF SE
14.4. Arkema S.A.
14.5. Momentive Performance Materials, Inc.
14.6. Schlumberger Limited
14.7. Halliburton Company
14.8. Baker Hughes Company
14.9. Ecolab, Inc.
14.10. Nouryan B.V.
15. Strategic Recommendations
16. About Us & Disclaimer
