Oilfield Chemicals Market 2019 Global Trends, Statistics, Size, Share, Regional Analysis
By products, oilfield chemicals market can be segmented into specialty, commodity, polymers & gases chemicals. Specialty chemicals are emerged as dominating segment & are expected to continue the trend over the forecast period.
Selbyville, United States – June 28, 2019 /MarketersMedia/ —
Global Oilfield Chemicals Market Report provides complete industry analysis, market outlook, size, growth, opportunities and forecast 2025. This report will assist in analyzing the current and future business trends, sales and revenue forecast. It provides top manufacturers information along with manufacturing cost analysis, industrial chain, sourcing strategy and growth.
Increasing number of exploration across the globe will drive Oilfield Chemicals Market. Growing prominence on non-conventional sources such as coal-bed methane and shale gas will create demand for oilfield chemicals market in the coming years. Increased deep drilling and ultradeep drilling activities owing increasing demand for crude oil is anticipated to bolster the market growth.
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Enhanced oilfield chemicals usage in wide range applications including cementing & drilling, completion & workover, production, well stimulation, and improved oil recovery will fuel the market growth. Overcoming problems including water gushing in the oil well at the time of exploration & drilling and gases like hydrogen sulfide and carbon dioxide causing equipment corrosion will enhance oilfield chemicals market expansion.
Rising demand for advanced water based drilling fluids and growing interest in the deep & ultra-deep water based drilling projects paves opportunistic ways for the industry. Enhancing productivity & optimizing costs are further expected to enhance market growth. Stringent health, safety, environmental regulations are continuously opening new scope for the industry participants. However, supply demand imbalance and geopolitical tensions pressurizing production and exploration activities of oil may and hamper the market growth.
By products, oilfield chemicals market can be segmented into specialty, commodity, polymers & gases chemicals. Specialty chemicals are emerged as dominating segment & are expected to continue the trend over the forecast period. Increasing application in the crude oil and petrol refinery activities has positively influenced demand in this segment. Improved recovery of oil from the oil-wells will fuel the segment demand. Various R&D activities undertaken by the companies for introducing eco-friendly rheology modifiers will further bolster demand.
Based on the application, industry can be classified into drilling fluids, production chemicals, well stimulations, cementing, enhanced oil recovery and workover & completion. Drilling fluids is projected as the largest segment owing to increasing deep & ultra-deep drilling activities. Moreover, well stimulations & enhanced oil recovery are further expected to witness high gains over the forecast period.
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Asia Pacific is projected to observe the highest growth rate up to 2024. Increase in drilling, stimulation and cementing activities will drive regional industry growth. In addition, large investment in the energy sector by India and China, owing to the upsurge in demand for petroleum and crude oil is projected to increase the oilfield chemicals demand.
Global industry share includes AMCOL International, Akzo Nobel, American Colloid, Ashland, Air Products, AES Drilling Fluids, Albemarle Corporation, Baroid Fluid Services, Baker Hughes, Berkshire Hathaway.
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