Demand for Oilfield Chemicals Bolstered through Growing Crude Oil Production
The crude oil production in North America is registering an increasing trend since 2011. The increase in production and exploration is due to increasing demand globally. The consumption of oil and oil-based products has tremendous growth due to increase in population worldwide. The use of oilfield chemicals in crude oil production and exploration is directly linked to the market growth of crude oil production.
Corrosion & Scale Inhibitors Dominated the Market
Corrosion inhibitors are used to reduce corrosion in the metallic pipes of the oil well. Inhibition is the preferred treatment for carbon steel pipes and vessels. The advantage of inhibition is that, in most cases, it can be used even when the process is continuing. Corrosion occurs due to the reaction of oxygen with metallic parts to form oxides. Corrosion inhibitors act by forming a thin layer of barrier over the exposed parts. Several types of corrosion inhibitors are used in oilfields.
The United States to Lead the Market
The Unites States has been the oldest and the fastest growing country in this market and is exhibiting its dominance in the North America oilfield chemicals market. The United States is estimated to account ~78% of the North American oilfield chemicals market in 2017. A rapid growth in unconventional oil & gas activity in North America primarily in the US has resulted in increasing consumption of chemicals used for various operations, and this trend is likely to continue in the next few years. The rapid exploitation of shale oil & gas reserves in North America contributed to this market growth and lower oil prices likely had major impact on drilling, stimulation and completion activities of such chemicals. However, increasing oil & gas production activates and use of oilfield chemicals primarily as specialty surfactants in fracking and drilling, which is a characteristic of oilfield chemicals, are expected to boost the oilfield chemicals market growth.
Notable Development in the Market
- July 2017: The Department of Justice (DOJ) approved the merger of Baker Hughes Inc. and GE Oil & Gas.
Reasons to Purchase this Report
- Market analysis for the North America oilfield chemicals market, with region-specific assessments and competition analysis on country scale.
- Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the North America oilfield chemicals market on country scales.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.
- 3 months analyst support along with the Market Estimate sheet in excel.
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1.1 Scope of the Report
1.2 Research Methodology
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Policies and Regulations
3.3 Industry Attractiveness - Porter's 5 Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Degree of Competition
4. Market Dynamics
4.1.1 Demand for Oilfield Chemicals Bolstered Through Growing Crude Oil Production
4.1.2 Environment Friendly Chemicals Being Developed Due to Stringent Regulations
4.2.1 Low Crude Oil Prices
4.2.2 Environmental Sustainability in Shale Gas Extraction
4.3.1 New Horizons Opened Up Due to Deep Water Drilling Operations
4.3.2 Recovering Oil & Gas Industry
5. Market Segmentation and Analysis (Market Size, Growth, & Forecast)
5.1 By Chemical Type
5.1.2 Corrosion & Scale Inhibitors
5.1.6 Other Chemicals
5.2 By Application
5.2.1 Drilling & Cementing
5.2.2 Workover & Completion
5.2.3 Well Stimulation
5.2.5 Enhanced Oil Recovery
6. Regional Analysis (Market Size, Growth, & Forecast)
6.1 United States
6.4 Rest of North America
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
7.2 Market Share Analysis
7.3 Strategies Adopted By Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 Akzonobel N.V.
8.2 Albemarle Corporation
8.4 Baker Hughes Incorporated
8.5 BASF Corporation
8.6 Canadian Energy Services & Technology Corp (CESTC)
8.8 Croda International PLC
8.9 Drilling Specialties Company (Chevron Phillips Chemical Company)
8.11 Elementis PLC
8.12 Exxonmobil Chemical Company Inc.
8.13 Flotek Industries Inc.
8.15 Huntsman International LLC
8.18 Messina Chemicals, Inc.
8.19 Nalco Champion Technologies Inc (Ecolab)
8.20 Newpark Resources Inc. (Newpark Drilling Fluids)
8.21 Schlumberger Limited (Schlumberger Technology Corporation)
8.23 Stepan Company
8.24 The Dow Chemical Company
8.25 The Lubrizol Corporation
*(list not exhaustive)
** Subject to availability on public domain
- AKZONOBEL N.V.
- BASF CORPORATION
- SCHLUMBERGER LIMITED (SCHLUMBERGER TECHNOLOGY CORPORATION) ALBEMARLE CORPORATION
- BAKER HUGHES
- CANADIAN ENERGY SERVICES & TECHNOLOGY CORP (CESTC)
- CRODA INTERNATIONAL PLC
- DRILLING SPECIALTIES COMPANY (CHEVRON PHILLIPS CHEMICAL COMPANY)
- ELEMENTIS PLC
- EXXONMOBIL CHEMICAL COMPANY INC.
- FLOTEK INDUSTRIES INC.
- HUNTSMAN INTERNATIONAL LLC
- MESSINA CHEMICALS inc.
- NALCO CHAMPION TECHNOLOGIES INC (ECOLAB)
- NEWPARK RESOURCES INC. (NEWPARK DRILLING FLUIDS)
- STEPAN COMPANY
- THE DOW CHEMICAL COMPANY
- THE LUBRIZOL CORPORATION