Global Oil Field Chemicals Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 4.4 % through 2020 to 2026, reaching nearly US$ XX Mn in the forecast period.
The global Oil Field Chemicals Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Oil Field Chemicals Market report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Oil Field Chemicals Market Overview:
An oil field is a reservoir of hydrocarbon sealed by impermeable rock, particularly with the one that exploits. Oil field chemicals have functions like oil recovery, drilling optimization, corrosion protection, to prevent mud loss in various locations, to stabilize drilling fluid in high pressure and fluctuating temperature.
Global Oil Field Chemicals Market Dynamics:
The growing demand for oil and its derivatives is very needed for a production facility in crude oil manufacturing. Enormous growth opportunities are opening the door for manufactures to invest in developing the customized product formulations and to provide strong chemical support. The rapid growth and investment in the oilfield service industries by the world is greatly focusing on expansion and production of participant's involvement in the business and market.
Frost and Sullivan's latest analysis on the global oil field chemicals market discloses that the development and technological innovation have advanced the oil field chemical industries with the superior performance and characteristic properties of oils similarly have covered the various application use, prices, and market growth. The market share of the oil field chemical market was valued at USD 11.2 billion in 2020 and is estimated to reach USD 14.1 billion with a growing CAGR of 4.4% in the forecast period.
Additionally, the global market is accrediting to the rising production of crude oil post-COVID-19 pandemic and this increase has simultaneously benefited the growth and demand of oil and energy-related products. The innovation of the new oilfield in boosting the aging reservoirs offers robust opportunities to the manufactures and the key players present in the oilfield chemical market.
Global Oil Field Chemicals Market Segment Analysis:
By Type, the segment is divided into Demulsifiers, Inhibitors & Scavengers, Rheology Modifiers, Friction Reducers, Specialty Biocides, Specialty Surfactants, and Pour Point Depressants. Demulsifiers are dominating the type segment in the oil field chemical market. The Demulsifiers market size was valued at USD 2.3 billion in 2020 and is estimated to reach USD 2.9 billion with a growing CAGR of 4.1% in the forecast period. Demulsifiers are widely used in the separation process of oils and water from crude water-oil emulsions. This process reduces the adulteration of water in the manufactured oil.
Global Oil Field Chemicals Market
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By Application, the segment is categorized into Production Chemical, well stimulation, Aging and mature oil fields, heavy oil field, offshore oil fields. Production Chemical sub-segment is dominating the application segment of the oilfield chemical market. Owed to wider application of production chemical in the forecast period. The production of high-performance chemicals, and the oil & gas industry is boosting the market growth of oil field chemical industries.
Production Chemicals for the Oil and Gas Industries shows various classes of production chemicals for use topside and downhole in the upstream oil and gas industry.
The second dominating is well stimulation as it consumes a higher quantity of chemicals. The rising energy demand is expected to boost crude oil production and this factor motivates the demand of the oil field chemical market in the forecast period.
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Global Oil Field Chemicals Market Regional Insights:
Global Oil Field Chemicals Market Regional Insights is segmented into North America, Asia Pacific, Europe, Latin America, Middle East, and Africa.
North America is dominating the Global Oil Field Chemicals Market owing to the rising importance of shale gas production and exploration in the region. The dominating country in North America is the US and contributes a major share in the shale gas industry owed to wider technological investments and rising export-import of oil field chemicals in the region.
The demand for oil field chemicals is directly responsible for the growth of Shale gas production in North America. Additionally, the production facility has increased due to growing demand and rising developing countries across the globe. Moreover, the region has a huge presence of onshore and offshore oil reservoirs.
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The objective of the report is to present a comprehensive analysis of the global Oil Field Chemicals Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Oil Field Chemicals Market dynamics, structure by analyzing the market segments and project the global Oil Field Chemicals Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the global Oil Field Chemicals Market makes the report investor's guide.
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Global Oil Field Chemicals Market, by Region
• North America
• Asia Pacific
• South America
Global Oil Field Chemicals Market Key Player
• BASF SE (Germany)
• Clariant (Switzerland)
• The Dow Chemical Company (US)
• Solvay (Belgium) Ecolab Inc. (US)
• Halliburton (US)
• Schlumberger Limited (US)
• Nouryon (Netherlands)
• Baker Hughes Incorporated (US)
• Kemira (Finland)
• Huntsman (US)
• Croda (UK)
• Albermarle (US)
• Chevron Philips Chemical Company (US)
• Innospec Inc. (US)
• National Oilwell Varco (US)
• Geo Specialty Chemicals (US)
• Kraton (US)
• Thermax (India)
• Oleon (Belgium)
• Ashland (US)
• PubChem Energy Services (Canada)
• Stepan Company (US)
• Elementis (US)
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