The modern-day document posted via Report Ocean, titled “Oilfield Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023 to 2031,” affords a complete evaluation of the industry, which includes insights on the market trends. The file additionally consists of competitor and regional analysis, and present-day developments in the market. This document can serve as a fantastic information for investors, researchers, consultants, advertising strategists and all these who are planning to foray into the market in any form.
Global oilfield chemicals market was valued at $41,667 million in 2016, and is estimated to reach $59,925 million by 2023, growing at a CAGR of 5.2% from 2017 to 2023. Oilfield chemicals are used in various stages of oil & gas exploration along with reduced corrosion in the pipelines. Various type of oilfield chemicals are used in oilfields to reduce the maintenance of the equipment and to improve efficiency of the processes. These chemicals are applicable in different stages of oil exploration and are an integral part of the oil & gas industry. These chemicals provide high performance, temperature stability, and inhibit contamination in the drilling fluid system. In the production division, these chemicals help to separate oil from gas & water, enable consistent flow of oil from well, and enhance oil production.
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In 2016, North America was the leading region in global oilfield chemicals due to the growth in oil & gas activities in this region with the advancement in hydraulic fracturing and drilling processes. U.S. was the leading country in the North American oilfield chemicals market, followed by Canada. LAMEA followed North America, owing to the increase in investment in the development of new oil well and new oil discoveries in deep well drilling in the developing nations, such as Brazil. The global market is driven by the rise in oil exploration & production activities, which increases the need for oilfield chemicals, demand for advanced drilling fluids, growth in deep-water & ultra-deep-water drilling projects, and rapid expansion of shale oil & gas drilling and production. Moreover, the ongoing activities to fulfill increased global energy demand brought more petroleum crude oil wells to production state globally increases the demand for oilfield chemicals. However, crude oil price fluctuations and increase in environmental concerns are expected to hamper the market growth in the near future.
The global oilfield chemicals market is segmented based on type, application, and geography. On the basis of type, it is divided as biocides, corrosion & scale inhibitors, demulsifiers, surfactants, polymers, gellants & viscosifiers, and others. On the basis of application, it is categorized intodrilling fluids, cementing, enhanced oil recovery, production chemicals, well stimulation, and workover & completion. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In September 2016, Clariant, a specialty chemical manufacturer acquired two Texas based companies named Kel-Tech and X-Chem to strengthen its North American oilfield production chemicals business. These two companies provide hydraulic fracturing chemicals to energy customers.
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COVID-19 Impact
In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.
The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.
KEY MARKET BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current & emerging market trends and dynamics of the global oilfield chemicals market.
In-depth analysis of all regions is conducted by constructing the market estimations for key segments from 2017 to 2023 to identify the prevailing opportunities.
The report assists to understand the strategies adopted by the companies for market expansion.
This study evaluates the competitive landscape to understand the market scenario across various regions.
Extensive analysis is conducted by following key player positioning and monitoring the top competitors within the market framework.
The major market players are as follows:
Baker Hughes
Schlumberger Limited
Halliburton
Solvay S.A.
Ecolab Inc.
Newpark Resources Inc.
BASF SE
Lubrizol Corporation
Akzonobel NV
Albemarle Corp.
The other major players in the industry include the following:
E I Dupont de Nemours and Company
Huntsman Corporation
Kemira Oyj
Clariant AG
Chemcon Specialty Chemicals Pvt. Ltd.
Universal Oil Field Chemicals Pvt. Ltd.
Imperial Oilfield Chemicals Pvt. Ltd.
REDA Oilfield
Stepan Company
Champion Technologies
KEY MARKET SEGMENTS
By Type
Biocides
Corrosion & Scale Inhibitors
Demulsifiers
Surfactants
Polymers
Gellants & Viscosifiers
Other Chemicals
By Application
Drilling Fluids
Cementing
Enhanced Oil Recovery
Production Chemicals
Well Stimulation
Workover & Completion
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By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Denmark
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Saudi Arabia
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the key questions answered:
- How has the adoption of Market impacted COVID-19?
- What are the key market tips in key areas?
- Which utilized sciences are most impacting the anticipated global enterprise?
- Who are the major global game enthusiasts in modern times dominating the Market?
- How do AI clients turn out to be conscious of technological knowledge in strolling theatres?
- What are the vital corporation fashions determined via way of the foremost market players?
- What are the key factors that will have an effect on the expand of Market globally?
- How foremost game enthusiasts in the Global corporation environment are incorporating key
- What is the present day income contribution of distinct product kinds in the market and what are the predicted changes?
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