Global Oil FieldChemicals Market is
expected to reach USD 28.48 billion by 2025, growing at a CAGR of 4.3%, according to a
new report by Grand View Research, Inc. The increasing demand for crude oil is likely
to steer the oilfield chemicals industry growth over the projection
period.
The global industry is anticipated to observe a linear growth trend over
the projection period owing to the shift in inclination towards exploiting the
unconventional hydrocarbon resources. Their application in operations including
drilling, production, cementing, and workover & completion is expected to
drive the oilfield chemicals demand
The rheology modifiers product segment accounted for over 20% of the
total market share in 2016. These formulations are used to enhance crude oil
properties such as thickening, emulsification, stabilization, and conditioning.
Various R&D activities have been taken up by some of the companies to
introduce eco-friendly rheology modifiers which can further increase the demand
for specialty chemicals.
Full Research
Report on Global Oil field Chemicals Market Analysis:
http://www.grandviewresearch.com/industry-analysis/oilfield-chemicals-market
http://www.grandviewresearch.com/industry-analysis/oilfield-chemicals-market
Further key
findings from the report suggest:
- Workover and
completion segment accounted for over 35% of revenue share in 2016 and is
expected to gain a higher penetration over the forecast period. The need
for maximizing the production capacity of oil and gas from several basins
globally is expected to steer the global industry.
- The global
drilling chemicals market value is estimated to reach a total revenue
exceeding USD 5.60 billion by 2025
- North America
emerged as the largest consumer of oilfield chemicals and the regional
industry was valued over USD 6.80 billion in 2016 and is anticipated to
witness steady growth over the next eight years
- The inhibitor
formulations demand in the U.S. was valued at USD 910.8 million in 2016
and is expected to grow at a CAGR of 4.5% over the projected period
- Asia Pacific is
likely to emerge the fastest growing regional segment while accounting for
over 17% of the total revenue by 2025
- The specialty
product demand in the petroleum production sector in China was pegged at
USD 427.8 million in 2016
- The Middle East
& Africa is expected to witness a steady growth at a CAGR of 4.5%
during 2017 to 2025
- Key players
operating in the global oilfield chemicals market include BASF, The Dow
Chemical Company, Solvay, Halliburton, Baker Huges, and Schlumberger.
View more reports
of this category by Grand View Research at: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research
has segmented the Global Oil Field Chemicals Market on the basis of product,
application, location and region:
Product Outlook
(Revenue, USD Million, 2014 - 2025)
- Inhibitors
- Demulsifiers
- Rheology
Modifiers
- Friction
Reducers
- Biocides,
- Surfactants
- Foamers
- Others
Application Outlook
(Revenue, USD Million, 2014 - 2025)
- Drilling
- Production
- Cementing
- Workover &
completion
Location Outlook
(Revenue, USD Million, 2014 - 2025)
- Onshore
- Offshore
Regional Outlook
(Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Russia
- Norway
- Asia Pacific
- China
- India
- Indonesia
- Central and
South America
- Brazil
- Argentina
- Venezuela
- Middle East and
Africa
- Saudi Arabia
- UAE
- Algeria
- Nigeria
View Press Release of this research
report by Grand View Research: http://www.grandviewresearch.com/press-release/global-oilfield-chemicals-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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