Oil Field Chemicals: Market Trends, Size, Share & Growth Forecast
US demand for oilfield chemicals is projected to increase 8. Following a precipitous dropoff that began in late and lasted through much of , upstream oil and gas activity in the US has accelerated. Drilling activity began to rebound in , registered even faster growth through the first half of , and is expected to continue to expand due to the recovery of oil prices and the development of shale gas resources. Well stimulation activities such as hydraulic fracturing are considered to be an indispensible component of developing the immense reserves of oil and gas held by shale formations.
Growth has been supported by companies looking to establish a foothold in the shale gas segment because it is expected to be an increasingly important element of the domestic energy supply. Also, producers have sought to develop already acquired leases. Invalid Email. Invalid contact no.
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Special Symbols Not Allowed. Invalid Security Code. These chemicals facilitate the maintenance of smooth operating oilfield, which result in reduction of expenses over delays and stoppages during drilling processes. Moreover, the ongoing activities to meet the global energy demand brought more petroleum crude oil wells to production state globally, which increases the demand for oilfield chemicals. However, crude oil price fluctuations and increase in environmental concerns are expected to hamper the market growth in the near future.
The emergence of eco-friendly oilfield chemicals is expected to provide a substantial growth opportunity in the near future. The global oilfield chemicals market is segmented into type, application, and geography. In addition, the report highlights various factors that impact the growth of the global market, such as key drivers, restraints, growth opportunities, and the role of different key players.
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It presents the quantitative data, in terms of both value and volume, which is obtained from the secondary sources, such as company publications, Factiva, Hoovers, OneSource, and others. Global Oilfield Chemicals Market Segmentation. Get more information on this report : Request Sample Pages.
In , North America dominated the global oilfield chemicals market, in terms of value. Moreover, Asia-Pacific is expected to witness the highest growth rate from to , owing to the increase in cementing, drilling, and stimulation activities. The demulsifier segment is the most lucrative in the market, followed by the biocides segment.
Demulsifiers are used to separate water and oil in the oilfield. They cause change in the oil density and enable easier separation by reduction in the corrosion of the pipelines. This results in reduction in the overall maintenance cost of the equipment. In , North America witnessed the highest demand for oilfield chemicals, owing to the growth in oil gas activities with the advancement in hydraulic fracturing and drilling processes. Moreover, technological advancement and rise in drilling activities are expected to increase the demand for oilfield chemicals in the near future.
Secondary Research 1. Primary Research 1. Top Investment Pockets 3. Top Winning Strategies. Rise in oil exploration and production activities 3. Demand for advanced drilling fluids 3. Crude oil price fluctuations 3. Increase in environmental concerns.
Emergence of eco-friendly oilfield chemicals. Market Size and Forecast. Market Size and Forecast 6. Market size and forecast by type 6. Market size and forecast by application. Authors: Johannes Karl Fink. Browse book content About the book Search in this book. Browse content Table of contents. Description Oil field chemicals are gaining increasing importance, as the resources of crude oil are decreasing. Details ISBN All rights reserved.
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