Oilfield Chemical Market Projected to Grow at CAGR 4.0% through 2029 | Future Market Insights

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Oilfield Chemical Market Expected to Behold a
CAGR of 4.0 through 20192029 Future Market
Insights

• March 2020

Report Id REP-GB-1479 Published On
06-June-2019 Category Chemicals and Materials
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Oilfield Chemical Market Analysis
Future Market Insights, in its latest report
titled 'Oilfield Chemicals Market Global
Industry Analysis 20142018 and Forecast
20192029,' offers key insights and analysis of
the global oilfield chemicals market. The
research study conducts an in-depth analysis and
provides key market insights on the oilfield
chemicals market for the forecast period
(20192029). Based on key insights, the oilfield
chemicals market is expected to experience
significant demand over the forecast period due
to an increase in the number of exploration
activities worldwide, owing to an increase in the
need for energy across the world. The global
oilfield chemicals market is estimated to grow at
a CAGR of nearly 4 during the forecast period.
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Oilfield Chemical Market Analysis
Crude Oil Production and Processing Consumes
Voluminous Oilfield Chemicals The increasing
number of exploration projects in the countries
of Europe and MEA, such as Russia, Kazakhstan,
Saudi Arabia, and several others, is estimated to
support the demand for oilfield chemicals. These
countries have oil reserves, which, in turn,
support the demand for oilfield chemicals.
Furthermore, APAC is a major market owing to the
establishment of new refineries to cater to the
growing demand for new units in the country. In
addition, the increasing demand for refinery and
petrochemical products across various end-use
industries is an indication for the future demand
for efficient crude oil. To fulfil the demand
for crude oil products, vendors have increased
their refinery capacities. Attributing to this,
manufacturers of crude oil are focusing on
expansions as well as on increasing investments
on clean fuel. Moreover, a significant volume of
oilfield chemicals is utilised in the production
and processing of crude oil.
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Oilfield Chemical Market Analysis

• Inhibitors to Remain Preferred Type of Oilfield
  Chemicals
• Segmentation on the basis of product type of
  oilfield chemicals The inhibitors segment is
  projected to lead the global oilfield chemicals
  market in terms of value, followed by the gas
  well foamers segment. In terms of growth rate,
  the H2S scavengers equipment segment is expected
  to lead the market with an approximate CAGR of 5
  over the forecast period
• Segmentation on the basis of application of
  oilfield chemicals The drilling completion
  oilfield chemicals segment is projected to lead
  the oilfield chemicals market by application, and
  accounts for high demand across the world
• Segmentation on the basis of terrain type The
  onshore segment is estimated to capture a higher
  market share over the forecast period

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Oilfield Chemical Market Analysis
Oilfield chemical act as the backbone of the
refinery sector and oil gas exploration sector
across the globe. To meet this cumulative demand,
key players of the oilfield chemicals market are
expanding their manufacturing and production
facilities to emerging regions, such as India
China, with an aim to reduce the operational cost
owing to the abundance of economical raw
materials and the availability of low-cost labour
and in these regions.
Profitability of Asian Markets for Oilfield
Chemicals Continues to Rise North America is a
mature and prominent region with significant
demand for oilfield chemicals. Asia Pacific is
estimated to emerge as a profitable and
high-growth region in the oilfield chemicals
market. The demand for oilfield chemicals in
these regions is also mainly driven by the rising
oil gas exploration activities in the region.
MEA, Eastern Europe, and Latin America are also
projected to be above-average growth regions in
terms of volume and value, owing to the presence
of already established markets in these regions.
The market in the Middle East Africa (MEA) is
expected to experience moderate growth over the
forecast period as it is an already established
market.
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Oilfield Chemical Market Analysis

• Global Oilfield Chemicals Market Vendors
  Landscape
• The oilfield chemicals market is moderately
  fragmented owing to the presence of a large
  number of local and established players. The
  report provides details of some of the key
  players in the global oilfield chemicals market,
  such as Albemarle Corporation, Akzo Nobel N.V.,
  DowDuPont Inc., Baker Hughes, a GE Company LLC,
  Halliburton Co., BASF SE, Flotek Industries,
  Inc., Ashland Inc., Schlumberger Limited, Solvay
  SA, Clariant AG, GEO Drilling Fluids, Inc.
  Innospec Incorporated, and Chevron Phillips
  Chemical Company LLC.
• More from FMIs Chemicals Materials Market
  Intelligence
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• Metallic Stearates Market
• Calcium Acetate Market

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Oilfield Chemical Market Analysis
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