Market Overview:
According to Market Research Future (MRFR), a leading market research firm, in its recently published market analysis, asserts that the global Oilfield Chemicals Market will register a CAGR of approx. 5% throughout the forecast period (2016 – 2022), witnessing enormous growth by the end of 2022.
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 O&G fields are experiencing the high water-cut period posing challenges to the development process and profitability. This proposes the demand for the more advanced recovery technologies that can improve efficiency, stabilize the production rate & quality of the old oilfields, and provide far-reaching prospects for oil recovery. This further presages the upsurge demand for Oil Field Chemicals that will lead to garnering exponential traction for the market globally. Also, the supply and demand dynamics are expected to change significantly, increasing the number of wells the market size of these chemicals.
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Study Objectives of Oil Field Chemicals Market:
• To provide detailed analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the Global Oil Field Chemicals Market.
• To analyze and provide insights about factors affecting the market growth
• To Analyze the Global Oil Field Chemicals Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to respect to regions and their respective key countries.
• To provide country level analysis of the market with respect to the current market size and future prospective.
• To provide country level analysis of the market for segments by Fluid type, Application, Material and by region.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Oil Field Chemicals Market.
Regional Analysis:
The North America holds the hegemony of this market owing to the augmented exploration activities in the USA and Canada which are increasing the demand for oilfield chemicals and hence its market value.
The Middle East region despite the ongoing political instability will perceive a substantial growth rate attributing to the unfavorable geological conditions (extreme heat/cold) that demand more advanced & expensive oilfield chemicals.
Whereas in India, government’s support and the decision to auction Govt. owned 69 inactive O&G fields to private companies on a new revenue-sharing contract is projected to fuel O&G exploration activities increasing the oilfield Chemicals market growth.
Market Segmentation:
The MRFR analysis is segmented into four key dynamics for the convenience of understanding:-
By Material segmented into; Comprises Commodity Vehicles, Polymers and Specialty Chemicals among others.
By Applications are Drilling Fluid Chemicals, Production Chemicals, and Stimulation Fluid Additives among others.
By Fluid Type categorized into; Drilling, Completion, and Stimulation among others.
By Region are divided into; North America, Europe, APAC and Rest of the World (RoW).
Global Key Players:
Some of the key players available in the Oilfield 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).
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