Electrostatic Desalter Market Forecast and CAGR
According to research estimates, Electrostatic Desalter market is anticipated to grow at CAGR between 4.5-5% during 2021-2031 owing to the rising demand for electrostatic desalter, in lieu of salts and water content filtration among the upstream and downstream sector as gained from offshore sites.
Demand for the product will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Increasing demand from oil & gas sector will extend its opportunities in near future.
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What is Driving Demand for Electrostatic Desalter?
With increase in offshore based exploration and refining sites, electrostatic desalters will be preferred as primary filtration device thus propelling the market growth. Additionally, profound CAPEX investments in new units and expansion production capacities of existing units in the near time is also anticipated to provide traction over the forecast period.
There are other various drivers which can uplift the product market upwards in the forecasted years, such as the emergence of petroleum refineries in many regions, and increasing classic production companies is projected to boost the global market growth.
Based on type, the two stage desalter ensures the high dilution rate which is expected to record significant growth over the forecast period. Attributing to the rising usage of heavy petroleum in refineries globally and high efficiency of two stage electrostatic desalter is propelling the growth of the global electrostatic desalter market.
For high levels of salt and/or to achieve very low final concentrations, three-stage desalting may be used which is expected to grow at considerable growth rate over the projection period.
Upstream Segment estimated to have a significant share in the Market by Application
The market is segmented into upstream, downstream, and others as per the application. The upstream segment is estimated to attain the highest share in the market because in oil and gas industry the upstream activity is mostly used as it is a significant part of the upstream sector.
Moreover, the adoption of product in upstream is considered more profitable compared to downstream operations. Therefore, the demand for electrostatic desalters is anticipated to rise at a considerable rate owing to the higher demand in the upstream sector.
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Asia Pacific Market Overview
Based on geographical market, Asia Pacific region is said to register a robust growth rate during the next 5-6 years for electrostatic desalters.
Owing to increasing demand for petroleum and rising investments in refineries is expected to record healthy growth in China and ASEAN countries. Also, expanding investigation and production in developing countries is anticipated to encourage growth of electrostatic desalter market in respective region.
North America Market Growth Outlook
U.S. and Canada are expected to exist as a prominent regional hub period for Electrostatic Desalter market. The market in the U.S. is forecasted to record major share over the analysis period 2021 to 2031 owing to the expansion of the existing refineries in the respective countries.
Europe Demand Potential
As observed in Europe region, Russia and NORDICS are estimated to grow with higher CAGR as compare to other noteworthy geographic markets in Europe. Presence of tier-1 petrochemical manufacturers in many European countries will surge the growth of Electrostatic Desalter market.
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Who are the Key Manufacturers and Suppliers product?
Some of the key manufacturers & suppliers of the product include
- Croda International Plc
- Agar Corporation Ltd.
- Cameron International Corporation
- Canadian Petroleum Processing Equipment Inc.
- ICE (Asia) Pvt Ltd
- VME Process Inc.
- Komax systems Inc.
- Petro-Techna International
- En-Fab Inc.
- GasTech Engineering Corp
- PROSERNAT S.A and Frames Group
- Forum Energy Technologies
- SUEZ Environnement Oil & Gas Systems
- Custom Process Equipment LLC
- EN-FAB Inc
- Canadian Petroleum Processing Equipment Inc.
Electrostatic Desalter Manufacturers are aiming to expand their product range to design robust and reliable equipment which helps them to meet the needs of their clients.
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