Oilfield Chemical Market is estimated to reach US$ XX Mn by 2026 in terms of value with CAGR of XX% in the forecasting period 2019-2026.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region
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The Oilfield Chemical Market is a multi-billion market, which includes a wide array of chemicals employed for a broad range of purposes. The main purpose of oilfield chemicals is to improve the recovery of oil from the oil-well. Oilfield chemicals are chemical components that are applied in oil & gas extraction operations. These are used in good drilling and production facilities to enhance the extraction operations by improving productivity & efficiency of the oil drilling process & petroleum refining.
Oilfield Chemical Market is driven by a number of factors such as increasing shale gas exploration and production, and also due to rising demand for oilfield chemicals from Asia-Pacific. The increase in drilling activity and use of technologies such as hydraulic fracturing and enhanced oil recovery (EOR) boost the demand for oilfield chemicals on a global basis to ensure efficient oil and gas recovery. The development in the Oil and Gas industry will directly affect the Oilfield Chemical Market.
Oilfield Chemical Market can be segmented by product, by application, by location and region. Based on the product, the rheology modifiers emerged as the leading product segment and accounted for over 20% of the total revenue in 2017. In terms of application, Workover and completion emerged as the largest and fastest growing application and accounted for over 35% of the total revenue in 2017. The global Oilfield Chemical Market demand in the onshore location is the largest and was valued over US$ 3.2 Bn in 2017. The offshore locations are estimated to register the fastest growth and is expected to grow at a CAGR of over 5% over the forecast period. The operating conditions in this location are very harsh and extreme.
On the basis of region, North America dominated the Oilfield Chemical Market. Asia-Pacific is expected to witness the highest growth rate from 2018 to 2026, owing to the increase in cementing, drilling, and stimulation activities.
Key players in the Oilfield Chemical Market BASF, The Dow Chemical Company, Solvay, Halliburton, Baker Hughes, and Schlumberger.
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Oilfield Chemical Market , By Product
• Inhibitors
• Demulsifies
• Rheology Modifiers
• Friction Reducers
• Biocides
• Surfactants
• Others
Oilfield Chemical Market, By Application
• Drilling
• Production
• Cementing
• Work over & completion
Oilfield Chemical Market, By Location
• Onshore
• Offshore
Oilfield Chemical Market, By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Oilfield Chemical Market:
• BASF
• Dow Chemical Co.
• Solvay
• Halliburton
• Baker Hughes
• Schlumberger
• Lubrizol Corporation
• Stepan Company
• Clariant
• Ecolab
• Newpark Resources Inc.
• Akzonobel NV
• Albemarle Corp
• Ashland Inc
• E.I. Du Pont De Nemours & Company
• Kemira OYJ
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