Business Industry News Science

Oilfield Chemicals Market Analysis Growth Challenges, Opportunities and Future Developments to 2023

Rise in oil exploration & production activities, demand for advanced drilling fluids, and rapid expansion of shale gas & oil drilling are the major driver for global oilfield chemicals market.

Oilfield chemicals market was valued at $41,667 million in 2016, and is estimated to reach $59,925 million by 2023, registering a CAGR of 5.2% from 2017 to 2023. In 2016, the drilling fluid application segment accounted for around one-third share of the total market.

Download Sample PDF Brochure of Oilfield Chemicals Market at: https://www.alliedmarketresearch.com/request-sample/724

Oilfield Chemicals Market Growth:

In 2016, North America dominated the global market, owing to the growth in oil gas activities withac the advancement in hydraulic fracturing and drilling processes. Moreover, technological advancement and increase in drilling activities are expected to increase the demand for oilfield chemicals in the near future. U.S. dominated the North America oilfield chemicals market in 2016, followed by Canada. LAMEA is the second leading geographical segment, which is expected to register a CAGR of 5.9% from 2017 to 2013.

Oilfield Chemicals Market Leading Players:

The key companies profiled in the report include Baker Hughes, Schlumberger Limited, Halliburton, Solvay S.A., Ecolab Inc., Newpark Resources Inc., BASF SE, Lubrizol Corporation, Akzonobel NV, and Albemarle Corp.

Oilfield chemicals are chemical components that are used in various stages of oil & gas exploration to enhance these operations by improving productivity and efficiency of oil drilling processes. These chemicals allow temperature stability, high performance, and inhibit contamination in the drilling fluid system. It also reduces the expense over stoppages & delays by maintaining smooth operating oilfields. Moreover, these chemicals find extensive application in different stages of oil exploration and are an integral part of the oil & gas industry.

Do Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/724

Oilfield Chemicals Market Driver:

The growth of the global market is driven by the enduring activities to meet the increasing energy demand globally, which brought more petroleum crude oil wells to production state globally, which increases the demand for oilfield chemicals. Moreover, rise in exploration & production activities increases the need for oilfield chemicals, demand for advanced drilling fluids, and growth in deepwater & ultra-deepwater drilling projects are driving the global market. However, crude oil price fluctuations and increase in environmental concerns are expected to hamper the market growth in the near future. The emergence of eco-friendly oilfield chemicals is expected to provide a substantial growth opportunity in the near future.

The corrosion & scale inhibitors was the leading segment in 2016, and expected to dominate the market during the forecast period, as these control corrosions in tubing, casing, pipes, and other accessories; and help reduce foam & wax formation and bacterial growth, reduce fluid loss during operation and improve process efficiency.

The drilling fluids is the leading application segment, followed by well stimulation. Oilfield chemicals are widely used in drilling fluids to improve the productivity and efficiency of the oil drilling process. These chemicals safeguard the network of pipes used during drilling in an oilfield, which is affected by the factors, such as biological deposits, water, hydrogen sulfide, and other organic acids.

Key Market Benefits

  • This report provides an extensive analysis of the current and emerging market trends & dynamics of the global oilfield chemicals market.
  • The oilfield chemicals market trend analysis for all the regions is done by constructing estimations for key segments from 2017 to 2023 to identify the prevailing opportunities.
  • The report assists to understand the strategies adopted by the leading companies in the industry.
  • It evaluates competitive landscape of the oilfield chemicals industry to understand the market scenario globally.
  • Extensive analysis is conducted by key player positioning and monitoring the top competitors within the global market.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]