The global oilfield chemicals market is expected to reach US$ 43,685.6 Mn in 2027 from US$ 29,120.0 Mn in 2018. The market is estimated to grow with a CAGR of 4.7% from 2019-2027.
The market is driven by factors such as, growth in oil exploration & production activities, increasing demand for advanced drilling fluids are boosting the oilfield chemicals market. However, crude oil price fluctuations is hindering the market for same in the current scenario.
Drilling fluids, also called as drilling mud, are added to the wellbore to enable the drilling procedure by interrupting cuttings, regulatory pressure, stabilizing exposed rock, giving buoyancy, cooling and lubricating. The important function of drilling fluids is rock stabilization. Distinct additives are used to ensure that the drilling fluid is not absorbed by the rock formation in the well and that the holes of the rock formation are not blocked.
The improved production of oil in the U.S. has made America stronger economically, andalso improves its global position in security. Various policies and actions support America's continuous energy progress, not more significant than growing access to oil reserves in federally-controlled zones. Oilfield chemicals are enjoying a long shelf life period, which makes them suitable for use within the industry.
Global oilfield chemicals market was segmented by type and application. The type was segmented into polymers, corrosion and scale inhibitors, demulsifiers, surfactants, gallants and viscosifiers, others. By application the market is segmented into drilling, cementing, enhanced oil recovery, production chemicals, well stimulation, workover and completion.
The overall global oilfield chemicals market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the aquaculture market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the oilfield chemicals market.
Reasons to Buy:
- Save and reduce time carrying out entrylevel research by identifying the growth, size, leading players and segments in the oilfield chemicals market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global oilfield chemical market, thereby allowing players across the value chain to develop effective longterm strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize indepth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decisionmaking process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Akzo Nobel N.V.
- Albemarle Corporation
- Baker Hughes
- BASF SE
- Ecolab
- Halliburton
- Newpark Resources Inc.
- Schlumberger Ltd
- Solvay
- The Lubrizol Corporation
