Acid Copolymers Market: Introduction
- The global acid copolymers market is expected to expand at a rapid pace during the forecast period, due to an increase in demand for these polymers in various industries such as water treatment, drilling fluids, oil & gas, and cement. Expansion of the specialty chemicals industry in countries in Asia Pacific, such as India, Taiwan, and Thailand, also offers significant opportunities to the acid copolymers market.
- Acid copolymer resins offer excellent adhesion to polar substrates without the need for primers. Therefore, they are widely used in liquid aseptic, dry food, laminated tube container packaging, and cable shielding applications.
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Key Drivers of Acid Copolymers Market
- Oilfield chemicals, which include corrosion & scale inhibitors, surfactants, and demulsifiers, are high value products. In crude oil reserves, there is a risk of corrosion and scale deposition in certain operations such as drilling, production, stimulation, and transport in the oilfield sector. Inhibitors are used during these operations to prevent corrosion and scale formation. Surfactants are widely employed in exploration, drilling, production, well stimulation, enhanced oil recovery, and workover operations in the oilfield sector.
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Water Treatment Chemicals Application Segment to Offer Immense Opportunities
- In terms of value and volume, the water treatment chemicals application segment is estimated to account for significant share of the market during the forecast period, owing to rise in demand for water treatment chemicals, including scale and corrosion inhibitors and surfactants in numerous applications. This trend is anticipated to continue during the forecast period due to expansion of the specialty chemicals industry in Asia Pacific and Middle East & Africa.
- Acid copolymers are also used in the production of drilling fluids. Drilling fluids are utilized in several functions such as control of downhole formation pressure, cooling and lubrication of the drill bit, and scavenging cuttings generated by drill bit from boreholes.
North America to Hold Major Share of Global Acid Copolymers Market
- In terms of value and volume, North America accounted for significant share of the global acid copolymers market in 2019. It is anticipated to maintain its dominance during the forecast period, due to expansion of the water treatment industry and rise in demand for cement products in the region.
- North America is a prominent producer of shale gas in the world. According to the U.S. Energy Information Administration, shale gas is likely to account for 50% share of demand for domestic gas in the U.S. by 2035. The U.S. has already moved from being a notable importer of gas, globally to being self-sufficient in less than decade. Oilfield chemicals are extensively employed during the production of shale gas. This is a major driver that is anticipated to make North America a highly lucrative region of the global acid copolymers market.
- Latin America and Middle East & Africa are likely to be lucrative regions of the global acid copolymers market during the forecast period. Latin America constitutes countries such as Brazil and Mexico, which are key manufacturers of specialty chemicals in the world. They are also manufacturing hubs for many industries. Economic growth in these countries is likely to create opportunities for the acid copolymers market in Latin America.
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Key Players in Market
Key players operating in the global acid copolymers market include:
- The Dow Chemical Company
- BASF SE
- Honeywell International Inc.
- Newpark Resources Inc.
- Tytan Organics
- Sepcor, Inc.
Global Acid Copolymers Market: Research Scope
Global Acid Copolymers Market, by Type
- Ethylene Acid Copolymer
- Maleic Acid Copolymer
- Acrylamide Acid Copolymer
Global Acid Copolymers Market, by Application
- Water Treatment Chemicals
- Oilfield Chemicals
- Cement Slurry
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