Oilfield chemicals strike a balance between costs and productivity which is benefitting the substances with the increasing market prominence and making them a high-value product to be used in the drilling processes. This is the key driving force propelling the market growth on the global platform. Additional factors substantiating the market growth include resurging Oil & Gas industry, increased drilling projects that have been triggered with the discoveries of oil & gas reserves in some regions, augmented demand for crude oil, exploring more reservoirs and the trend of rising deep-water production. Moreover, a renewed interest in shale gas extraction worldwide is expected to provide impetus to the global Oilfield Chemicals Market growth.
Some of the key players in the Oil Field Chemicals market are BASF SE (Germany), Lubrizol Corporation (U.S.), AkzoNobel N.V. (Netherlands), The Dow Chemical Company (U.S.), Schlumberger, Halliburton (U.S.), Kemira Oyj (Finland) and Clariant (Switzerland) among others.
Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/1755
The Oil Field Chemicals Market has been segmented based on material as Specialty Chemicals, Commodity Vehicles, and Polymers. Based on application, the market has been segmented as Production chemicals, Drilling fluid Chemicals, Stimulation Fluid Additives. Based on Fluid type the market has been segmented as drilling, completion, stimulation.
North America is the leading region for this market mainly due to the increased exploration activities in USA and Canada. The increasing exploration activities in this region have in turn resulted in an increase in the Oilfield Chemicals market. Although there exists political instability in the Middle East, this region is expected to register high growth rate in the forecast period due to increasing trend of deep water exploration and working in high temperatures which require much more expensive Oilfield Chemicals.
Increasing demand for oil and gas is expected to result in a rise in demand for the Oil Field Chemicals market. In recent times the oil and gas has been experiencing a significant downturn due to the continuous fall in the prices. These changes in the supply and demand dynamics is expected to induce a rise in the number of oil wells thus resulting in boosting the Oil Field Chemicals market. Increasing demand for oil and gas is also expected to fuel the demand in the Oil Field Chemicals market.
Browse the market data and information spread across 100 pages with 49 data tables and 09 figures of the report “Oil Field Chemicals Market Research Report - Global Forecast to 2022” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/oil-field-chemicals-market-1755
January 10, 2018 – SNC Lavalin (US) announced that it has been awarded an exclusive agreement for rending its engineering services to a downstream petro-chemical and refining company in the US Gulf Coast. The agreement approximately values USD 100M.
January 29, 2018 – Exxon Mobil Corporation (US), a global O&G Company, announced its plans to pump up USD 50 billion’s investments over the next five years, in view with the recent tax deduction by the US governments. The company also mentioned its plans to increase the daily production at the Permian Basin, Southwest USat a rate of 600,000 barrels a day.
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
To stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Market Research Future