Oilfield Chemicals Market Research Report

 

Growth Opportunities in the global oilfield chemicals market look promising over the next six years. A rise in the R&D activities for new oil and natural gas reserves, followed by growth in the production of crude oil and a significant shift towards substitute operations of drilling, are the key factors driving the growth of the global oilfield chemicals market.

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Oilfield Chemicals Market’s leading Manufacturers:

·        DowDuPont Inc.

·        Baker Hughes

·        BASF SE

·        Clariant AG

·        Albemarle Corporation

·        Halliburton

·        Schlumberger Limited

·        Lubrizol Corporation

·        Flotek Industries Inc.

·        Akzo Nobel N.V.

Oilfield Chemicals Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The growing production of oil and natural gas driven by rising demand, particularly in emerging economies, is the major factor contributing to the growth of the global oilfield chemicals market size. Moreover, a rise in the R&D activities for new oil and natural gas reserves, followed by growth in the production of crude oil and a significant shift towards substitute operations of drilling, will further surge the growth of the oilfield chemicals market in the upcoming years. According to the oilfield chemicals market report, an increase in drilling, production activities, and completion and a rise in the improved oil recovery activities are some other factors boosting the market growth. The strong demand for crude oil products and the increasing shift of manufacturers towards introducing superior performance oilfield chemicals will enhance the demand for the market during the forecast period. On the other hand, the sharp fall in oil prices will hinder the growth of the oilfield chemicals market.

Regional Drivers

Based on region, North America is projected to increase at a higher CAGR in the upcoming years. This is attributed to the increasing adoption of oilfield chemicals in the workover & completion applications and production industry. Furthermore, the enhanced oil recovery activities and the growth of shale oil and gas sectors in the US are certain factors that are expected to drive the growth of the oilfield chemicals market.

Location Segment Drivers

Based on the location, the onshore segment is projected to increase at a higher CAGR during the forecast period. This is attributed to the growing use of oilfield chemicals in this location due to traditional forms of operations in this location that ensure the constant demand for the products.

Oilfield Chemicals Market Segmentation:

Segmentation by Product:

·        Demulsifiers

·        Surfactants

·        Inhibitors

·        Foamers

·        Friction reducers

·        Rheology Modifiers

·        Biocides

·        Others

Segmentation by Application:

·        Production

·        Drilling

·        Cementing

·        Workover & Completion

Segmentation by Location:

·        Offshore

·        Onshore

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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