Cover Page_Sulfonated Asphalt Market

Global Sulfonated Asphalt Market by Types (Regular Sulfonated Asphalt and Potassium Sulfonated Asphalts), Applications (Drilling Fluid Emulsifier and Drilling Fluid Lubricant), and Regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)

  • Report ID: MC-215
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 4
  • No. Of Pages: 151
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  • Pub. Date: 01-03-2021
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Market Outlook:

The global sulfonated asphalt market was valued at USD 328.7 Million in 2019 and is projected to reach USD 442.1 Million by 2027, expanding at a CAGR of 3.8% during the forecast period. Sulfonated asphalt is used in applications such as fluid emulsifier and drilling fluid lubricant. The demand for sulfonated asphalt is driven by the rapid growth in drilling activities and rise in government support.

Sulfonated asphalt refers to a modified sodium sulfonated compound, which is 75% solvable in water. Sulfonated asphalt is a blend of lignite, blown asphalt, caustic soda, and gilsonite. It is used as a drilling mud additive for enhanced functions such as plugging, lubrication, prevention, drag, collapse, reduction, and restraining. With the functions such as drag reduction and lubrication, sulfonated asphalt may increase the lifetime for the drill and prevent sticking in the oil- and water-based drilling fluids. Sulfonated asphalt is used to stabilize wellbores. It acts as a filter-cake additive for oil- and water-based muds. Some of the substitutes of sulfonated asphalt are stabil hole, shaletone, barasal, surfactant-treated ground asphalt, ciround asphalt, and shale fix. Growth in drilling activities due to increasing investments in the value chain of the oil & gas industry is anticipated to boost the demand for drilling lubricants and fluids. This, in turn, is projected to fuel the sulfonated asphalt market during the forecast period. Sulfonated asphalt is bifurcated into regular sulfonated asphalt and potassium sulfonated asphalt. Potassium sulfonated asphalt is beneficial in applications that require potassium to effectively minimalize water-induced clay swelling.

Global Sulfonated Asphalt Market Key Takeaways

Market Dynamics
Increasing demand for energy, discovery of new oilfields, and ongoing shale gas developments are increasing drilling activities in various countries. Rising investments in the oil & gas industry is expected to fuel drilling activities. These, in turn, are expected to increase the demand for sulfonated asphalt during the forecast period owing to its utilization as a shale stabilizer for water- and oil- based drilling fluid.

Benefits Associated with Sulfonated Asphalt such as it increases in lubricity, decreases the requirement for emulsifiers for proper mixing, acts as an inhibitor of clay shale, and reduces high temperature gelation. Rising awareness about these benefits associated with sulfonated asphalt are expected to drive the market during the forecast period.

Growing government support through subsidies for oil & gas companies for increasing the production in developing countries is expected to increase the demand for sulfonated asphalt during the forecast period.

Environmental regulation addresses the environmental effects of oil & gas, which arises largely owing to the methods employed to drill gas and oil wells. Drilling horizontal and deep wells produce exceptional amounts of waste, which is normally stored in tanks or surface pits, before disposal. Governments have implemented strict environmental regulations in order to ensure proper and safe disposal of waste. Strict environmental regulations regarding the utilization and disposal of drilling fluid and waste are projected to hinder the demand for sulfonated asphalt. Environmental regulations are enforced in various countries to ensure safe dispose of waste.

Geopolitics is a study of factors such as economics, demography, and geography on the politics, especially the foreign policy of a state. Geopolitical issues between the oil producing countries over global market share have reduced the prices of oil. These issues between countries such as Saudi Arabia, Iran, Israel, and the US are expected to hinder the sulfonated asphalt market growth during the forecast period.

Shale gas is the most important unconventional gas owing to its large recoverable reserves and technological innovations. Development of shale gas in countries such as the US is owing to the factors such as underground injection wells for wastewater disposal, road infrastructure, favorable topography of most shale basins, and a history of conventional oil & gas development. Additionally, government-sponsored R&D programs improve technology and fiscal policies generated incentives for drilling shale gas. Promoting shale gas exploration to diversify energy mix, enhance energy security, and reduce energy dependency, which are expected to create opportunities in the sulfonated asphalt market.

Many oil &gas companies across the globe are introducing new capital projects in pursuit of growth. Increasing number oil & gas projects has fueled drilling activities in various countries, which in turn, is expected to drive the sulfonated asphalt market. Thus, increasing number of oil & gas projects is projected to create opportunities in the market during the forecast period.

Segmental Outlook

Based on types, the sulfonated asphalt market is divided into regular sulfonated asphalt and potassium sulfonated asphalt. The regular sulfonated asphalt segment held 66.2% share of the market in 2019, as it is majorly used in oil & gas drilling operations. The potassium sulfonated asphalt segment is anticipated to expand at a CAGR of 4.1% during the forecast period. Segment growth can be attributed to increasing applications of potassium sulfonated asphalt in drilling operations to effectively minimalize water-induced clay.

Global Sulfonated Asphalt Market By Type

In terms of applications, the sulfonated asphalt market is classified as drilling fluid emulsifier and drilling fluid lubricant. The drilling fluid emulsifier segment accounted for 71.1% share of the market in 2019 and is expected to expand at a substantial CAGR during the forecast period due to their superior emulsification properties. On the other hand, the drilling fluid lubricant segment is projected to expand at a significant pace during the forecast period due to increasing demand sulfonated asphalt in oil & gas drilling operations.

Global Sulfonated Asphalt Market By Application

Regional Outlook

On the basis of regions, the Sulfonated Asphalt market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a promising region of the market. The region constituted a 4.8% share of the global market in 2019. The market in this region is expected to grow due to the presence of a major manufacturer in this region and increasing shale gas exploration activities. The market in the Asia Pacific is projected to expand at a CAGR of 4.1% during the forecast period. Increasing government initiatives to support the oil & gas industry to increase production anticipated to fuel the demand for sulfonated asphalt in this region during the forecast period.

Global Sulfonated Asphalt Market By Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth analysis of the global Sulfonated Asphalt market
  • Historical, current and projected market size in terms of value (USD million), volume (tons)
  • Potential & niche segments and regions exhibiting promising growth covered
  • Industry drivers, restraints and opportunities covered in the study
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Neutral perspective on global sulfonated asphalt market performance
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Sulfonated Asphalt Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Sulfonated Asphalt Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Sulfonated Asphalt Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Sulfonated Asphalt Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Sulfonated Asphalt Market Size & Forecast, 2017-2027
      4.5.1 Sulfonated Asphalt Market Size and Y-o-Y Growth
      4.5.2 Sulfonated Asphalt Market Absolute $ Opportunity
   4.6 Drilling Fluid Industry: Overview
   4.7 Oil & Gas Industry Overview
Chapter 5 Global Sulfonated Asphalt Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Sulfonated Asphalt Market Size Forecast By Type
      5.2.1 Regular Sulfonated Asphalt
      5.2.2 Potassium Sulfonated Asphalt
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Sulfonated Asphalt Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Sulfonated Asphalt Market Size Forecast By Application
      6.2.1 Drilling Fluid Emulsifier
      6.2.2 Drilling Fluid Lubricant
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Sulfonated Asphalt Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Sulfonated Asphalt Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Sulfonated Asphalt Analysis and Forecast
   9.1 Introduction
   9.2 North America Sulfonated Asphalt Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Sulfonated Asphalt Market Size Forecast By Type
      9.6.1 Regular Sulfonated Asphalt
      9.6.2 Potassium Sulfonated Asphalt
   9.7 Basis Point Share (BPS) Analysis By Type
   9.8 Absolute $ Opportunity Assessment By Type
   9.9 Market Attractiveness Analysis By Type
   9.10 North America Sulfonated Asphalt Market Size Forecast By Application
      9.10.1 Drilling Fluid Emulsifier
      9.10.2 Drilling Fluid Lubricant
   9.11 Basis Point Share (BPS) Analysis By Application
   9.12 Absolute $ Opportunity Assessment By Application
   9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Sulfonated Asphalt Analysis and Forecast
   10.1 Introduction
   10.2 Europe Sulfonated Asphalt Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Sulfonated Asphalt Market Size Forecast By Type
      10.6.1 Regular Sulfonated Asphalt
      10.6.2 Potassium Sulfonated Asphalt
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 Europe Sulfonated Asphalt Market Size Forecast By Application
      10.10.1 Drilling Fluid Emulsifier
      10.10.2 Drilling Fluid Lubricant
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Sulfonated Asphalt Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Sulfonated Asphalt Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Sulfonated Asphalt Market Size Forecast By Type
      11.6.1 Regular Sulfonated Asphalt
      11.6.2 Potassium Sulfonated Asphalt
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Asia Pacific Sulfonated Asphalt Market Size Forecast By Application
      11.10.1 Drilling Fluid Emulsifier
      11.10.2 Drilling Fluid Lubricant
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Sulfonated Asphalt Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Sulfonated Asphalt Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Sulfonated Asphalt Market Size Forecast By Type
      12.6.1 Regular Sulfonated Asphalt
      12.6.2 Potassium Sulfonated Asphalt
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Latin America Sulfonated Asphalt Market Size Forecast By Application
      12.10.1 Drilling Fluid Emulsifier
      12.10.2 Drilling Fluid Lubricant
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Sulfonated Asphalt Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Sulfonated Asphalt Market Size Forecast by Country
      13.2.1 GCC
      13.2.2 Turkey
      13.2.3 South Africa
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Sulfonated Asphalt Market Size Forecast By Type
      13.6.1 Regular Sulfonated Asphalt
      13.6.2 Potassium Sulfonated Asphalt
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Middle East & Africa (MEA) Sulfonated Asphalt Market Size Forecast By Application
      13.10.1 Drilling Fluid Emulsifier
      13.10.2 Drilling Fluid Lubricant
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
   14.1 Sulfonated Asphalt Market: Competitive Dashboard
   14.2 Global Sulfonated Asphalt Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 Anhui Toplus Impex Co., Ltd.
      14.3.2 Chevron Phillips Chemical Company LLC
      14.3.3 Global Chemical Company L.L.C.
      14.3.4 Global Drilling Fluids & Chemicals Ltd.
      14.3.5 Gumpro Drilling Fluids Pvt. Ltd.
      14.3.6 Halliburton Energy Services, Inc.
      14.3.7 Henan Xinxiang No.7 Chemical Co., Ltd.
      14.3.8 Schlumberger Limited
      14.3.9 Shandong Yanggu Jiangbei Chemicals Ltd.
      14.3.10 The Zoranoc Oilfield Chemical
      14.3.11 Tianjin summite chemical Co., Ltd. 
      14.3.12 United Mud-Chem Pvt. Ltd.
      14.3.13 XINXIANG KOLANKY TECHNICAL CO.,
Key Segments Covered
By Types
  • Regular Sulfonated Asphalt
  • Potassium Sulfonated Asphalts
By Applications
  • Drilling Fluid Emulsifier
  • Drilling Fluid Lubricant
By Regions
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Spain
    • Russia
    • Rest of the Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • GCC
    • Turkey
    • South Africa
    • Rest of Middle East & Africa

Key Market Players Profiled in the Report
  • Chevron Phillips Chemical Company LLC
  • Global Chemical Company L.L.C.
  • Global Drilling Fluids & Chemicals Ltd.
  • Gumpro Drilling Fluids Pvt. Ltd.
  • Halliburton Energy Services, Inc.
  • Henan Xinxiang No.7 Chemical Co., Ltd.
  • Schlumberger Limited
  • Shandong Yanggu Jiangbei Chemicals Ltd.
  • S. R. Chemical
  • The Zoranoc Oilfield Chemical
  • Tianjin summite chemical Co., Ltd.
  • United Mud Chem Pvt. Ltd.
  • XINXIANG KOLANKY TECHNICAL CO.
  • Prominent manufacturers operating in sulfonated asphalt market include Schlumberger Limited, Chevron Phillips Chemical Company LLC, Henan Xinxiang No.7 Chemical Co., Ltd., Halliburton Energy Services, Inc., United Mud-Chem Pvt. Ltd., Gumpro Drilling Fluids Pvt. Ltd., Xinxiang Kolanky Technical CO., Anhui Toplus Impex Co., Ltd., Tianjin Summite Chemical Co., Ltd., and The Zoranoc Oilfield Chemical.
  • These companies are considered as key manufacturers of sulfonated asphalt based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.

Global Sulfonated Asphalt Market By Key Players

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FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request.

Yes, the report provides supply chain analysis along with a list of raw material suppliers, manufacturers, distributors, and customers.

According to this Growth Market Reports, the market from sulfonated asphalt is likely to register a CAGR of 3.8% during forecast period 2020-2027, with an anticipated valuation of USD 442.1 million by the end of the 2027.

In addition to market size (in USD Million), company market share (in % for base year 2019), other data such macro-economic factors and COVID-19 impact on the value chain are also available in the final report.

The applications in the global sulfonated asphalt market include drilling fluid emulsifier and drilling fluid lubricant.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

The demand for sulfonated asphalt is expected to continue to increase over the forecast period, taking into account rapid growth in drilling activities, awareness about the benefit associated with sulfonated asphalt, and rise in government support.

The market is expected to witness a decrease of around 2% between 2019 and 2020 owing to the adverse impact of COVID-19 pandemic on the sulfonated asphalt market.

The base year considered for the global sulfonated asphalt market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.

Major Manufactures Schlumberger Limited, Chevron Phillips Chemical Company LLC, and Henan Xinxiang No.7 Chemical Co.