The global oil field chemicals market was estimated to be valued at USD 25.78 billion in 2015 and is expected to grow at a CAGR of 5.84% to reach USD 34.25 billion by 2020.
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Oilfield chemicals are an integral part of the oil and gas industry and find extensive usage in various stages of oil exploration. The usual problems that oil fields face include water gushing into the oil well during drilling and exploration and gases like carbon dioxide and hydrogen sulfide causing equipment corrosion.
Moreover, the metal scales formed during drilling operations also interfere with the machine operations. Such hindrances are avoided by using oil field chemicals, especially corrosion and scale inhibitor chemicals.
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The following types of oil field chemicals were considered in this report: biocides, corrosion and scale inhibitors, demulsifiers, polymers, pour-point depressants, surfactants, and others. In this report, the global oil field chemicals market has been segmented according to its major applications in the various stages of oil exploration and extraction, such as cementing, drilling, enhanced oil recovery, production, well stimulation, workover & completion, and others.
Market Dynamics of the Global Oilfield Chemicals Market:
Increase in unconventional oil and gas exploration and production activities
Emphasis on the development of environment-friendly chemicals
Demand from Asia-Pacific region
Environmental sustainability in shale gas extraction
Dwindling crude oil prices
The market has also been segmented geographically on the basis of consumption. The regional analysis includes the Asia-Pacific, North America, Europe, South America, and the Middle-East and Africa.
North America is the current leader in the world for oil field chemicals. This can be attributed to the increased emphasis on shale gas usage and exploration in the region.
The region is expected to grow at a CAGR of 4.94% during the forecast period. The United States accounts the large majority of the consumption in this region.
Technological advances in horizontal drilling and hydraulic fracturing processes, use of nanotechnology in cementing applications, and growing usage of oil field chemicals in the Latin America are expected to offer major growth opportunities for the players in the global market. The market for oil field chemicals is dominated by large multinationals, such as:
Key Deliverables in the Study:
Market analysis for the global oilfield chemicals market, with region-specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global oilfield chemicals market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
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