Global Oil Well Cement market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 6.5% from 2020 to 2027, reaching US$ XX Bn.
Global Oil Well Cement Market
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Oil well cement is used in the oil & gas industry for the cementing operation in the oil wellbores under high temperature and high pressure. The global oil well cement market is driven by the increasing use of oil well cement as an insulator in oil wells due to its high dielectric strength. Increasing demand for oil & gas across the globe because of the rapidly increasing population is also projected to impelling the market growth in the forecast period. However, unstable prices of raw materials along with a rise in the number of oil well cement manufacturers are restraining the market growth at the global level. Growing investments in R&D activities in the sector coupled with rising demand for oil well cement particularly in Canada and the Middle East countries are expected to create beneficial opportunities for the key player in the market during the forecast period.
Based on the application, the onshore segment has led the oil well cement market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. The growing well operations in the onshore fields particularly in Saudi Arabia, the U.S., China, and Russia combined with the growing demand for oil and gas are anticipated to have stable market growth in the onshore application. The offshore segment is expected to witness a growth rate of XX% during the forecast period. Rising exploration activities along with technological advancements both in equipment and service have made drilling operations more cost-effective and feasible in offshore. Significant development of existing offshore wells in deep and ultra-deep waters especially in the North Sea, Gulf of Mexico, Persian Gulf, and the South China Sea are expected to fuel demand in the sector over the forecast period.
Geographically, the Oil Well Cement market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Thanks to the growing oil and natural gas production in the region along with factors such as rising offshore drilling activities, shale boom in the Gulf of Mexico, and the quest for discovery of untapped oil and gas reserves. The market in the Asia Pacific is expected to grow at a high CAGR of XX% during the forecast period owing to growing investment by exploration & production companies. The changes in government policies are boosting companies to carry more drilling activities by permitting tax redemption and FDI to increase oil and gas production in the region.
The objective of the report is to present a comprehensive analysis of the Global Oil Well Cement Market including all the stakeholders of the industry. The past and current status of the industry with 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 includes 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 Global Oil Well Cement Market dynamics, structure by analyzing the market segments and project the Global Oil Well Cement Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Oil Well Cement Market make the report investor’s guide.
Scope of the Global Oil Well Cement Market:
Global Oil Well Cement Market, by Type:
• Grade 0
• High Sulfate Resistant
• Moderate Sulfate Resistant
Global Oil Well Cement Market, by Application:
Global Oil Well Cement Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Oil Well Cement Market, Major Players:
• Dalmia Cement
• Les Ciments Artificiels Tunisiens S.A.
• J K Cement
• Grasim Industries and Ultra Tech
• Interbulk Trading Italcementi Group
• Soro Cements
• HeidelbergCement AG
• Cemex SAB de CV
• TPI Polene Public Company Limited
• Buzzi Unicem SpA
• Raysut Cement Co.
• Oman Cement Company
• Omran Anarak Cement Co.
• Cebo International BV
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