FELTON, California, August 16, 2018 /PRNewswire/ --
The global Oilfield Chemicals Market is anticipated to rise at a higher CAGR owing to rising demand for crude oil on a global scale. On a commercial scale, oil field chemicals are utilized for investigate natural resources at several stages throughout the gas and oil production which may act as corrosion inhibitors, demulsifiers, drilling additives, paraffin dispersants, cementing super plasticizers and repairs for cementing failures. With the growth in oil and natural gas exploration, the demand for oil field continues to increase and is expected to keep rising during the assessment period.
With the rising concerns relevant to energy security, which makes it mandate to elevate exploration hydrocarbon production. Also, coupled with the growing technological advances, need for massive optimization can be achieved; which acts as a primary driver of the market. Further, the strict timelines pertaining to delivery and environmental issues stand significant to oilfield chemicals market. Environmental issues allow growth of bacteria as well as foam and wax formation. Therefore, the oilfield chemicals market witnesses a higher CAGR growth during the forecast period.
Browse 129 page research report with TOC on "Global Oilfield Chemicals Market" at: https://www.millioninsights.com/industry-reports/oilfield-chemicals-market
Oilfield chemicals market is driven by factors such as rise in crude oil production in U.S, Middle-East & African regions. Additionally, the Middle-East countries are anticipated to boost the market growth. However, heavy demand from U.S. regions and declining prices of crude oil is expected to slower the market growth. Oilfield chemicals market is segmented into inhibitors & scavengers, demulsifiers, gellants & viscofiers, rheology modifiers, specialty surfactants, specialty biocides, pour-point depressants, other synthetic polymers, other natural polymers and other specialty chemicals. Based on application, the oilfield chemicals market is segmented into drilling fluid, production chemicals, well stimulation, cementing, workover & completion and enhanced oil recovery (EOR). Specialty biocides segment is expected to rise at a higher CAGR during the forecast period owing to rapid rate of microbial contaminants in water affecting the product quality.
Production chemicals segment is expected to rise at a higher CAGR during the forecast period owing to trajectory rise in the production of oil & gas obtained onshore and offshore reserves. Oilfield chemicals market geographically spans North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, and Middle-East & Africa. North American market is anticipated to grow at a higher CAGR owing to lucrative opportunities and shale reserves exploration specifically in Mexico and Canada.
Middle-East & African regions are anticipated to rise at a higher CAGR followed by Latin America. Regions such as Saudi Arabia and Iran are anticipated to propel the market growth in the forecast period. The key players in the oilfield chemicals market include BASF SE, AkzoNobel N.V., The Dow Chemical Company, Schlumberger, Halliburton, Lubrizol Corporation, Kemira oyj, Clariant, and Nalco Champion.
Browse reports of similar category available with Million Insights:
- Synthetic Paper Market
- Lightweight Materials Market
- Natural Fiber Composites Market
- Technical Ceramics Market
Global Oilfield Chemicals Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2018 - 2025)
• North America
• Southeast Asia
Global Oilfield Chemicals Key Players Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2018 - 2025)
• Berkshire Hathaway
Global Oilfield Chemicals Product Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2018 - 2025)
• Pour-point Depressants (PPD)
Global Oilfield Chemicals Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2018 - 2025)
• Drilling Fluids
• Workover and Completion Fluids
• Cementing and Stimulation Chemicals
• Oil Production Chemicals
• Enhanced Oil Recovery Chemicals
About Million Insights:
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Research Support Specialist, USA
Toll Free: 1-866-831-4085
SOURCE Million Insights