Oilfield Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
NEW YORK, August 15, 2018 /PRNewswire/ -- Oilfield Chemicals Market - Overview
Oilfield chemicals are used to increase productivity and process efficiency and thereby reduce operating costs.These chemicals play an important role in minimizing maintenance costs.
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Oilfield chemicals are applied throughout the lifecycle of an oil well. The lifecycle comprises drilling, cementing, production, stimulation, workover and completion, and transportation.
In terms of volume, the surfactants product segment accounted for more than 30% share of the global oilfield chemicals market in 2017.Market share of the segment is expected to increase marginally by the end of the forecast period.
Surfactants are used in almost all oilfield operations, from exploration to production and workover.They are used to lower tension between liquid molecules and provide wetting/foaming, dispersing, detergency, and reduction in viscosity.
In terms of application, the drilling fluids segment held major share of the market in terms of value in 2017.This trend is likely to continue throughout the forecast period.
In terms of volume, the well stimulation fluids segment held prominent share of the market in 2017. The segment is projected to expand at a rapid pace in terms of value and volume during the forecast period.
North America constituted significant share of the market in 2017 in terms of value and volume. The U.S. is a highly lucrative country for oilfield chemicals. North America is estimated to continue its dominance throughout the forecast period. The market in the region is anticipated to expand at a significant pace in the near future.
This report analyzes and forecasts the market for oilfield chemicals at the global and regional level.The market has been forecast based on revenue (US$ Mn) and volume (kilo tons) from 2018 to 2026, considering 2017 as the base year.
The study includes drivers and restraints of the global oilfield chemicals market.It also covers impact of these drivers and restraints on demand for oilfield chemicals during the forecast period.
The report also highlights opportunities in the oilfield chemicals market at the global and regional level. The report also provides list of trade names of oilfield chemicals, and list of oilfield chemical products used for different applications.
The report includes detailed value chain analysis, which provides a comprehensive view of the global oilfield chemicals market.Porter's Five Forces model for the oilfield chemicals market has also been included to help understand the competitive landscape.
The study encompasses market attractiveness analysis, wherein product type and application are benchmarked based on their market size, growth rate, and general attractiveness. The study also includes pricing analysis based on type, region, and key players.
The study provides a decisive view of the global oilfield chemicals market by segmenting it in terms of product and application.In terms of product type, the oilfield chemicals market has been classified into biocides, corrosion and scale inhibitors, demulsifiers, surfactants, polymers, lubricants, hydrogen sulfide scavengers, fluid loss additives, and others.
Based on application, the oilfield chemicals market has been divided into production chemicals, drilling fluids, well stimulation fluids, cementing fluids, enhanced oil recovery, and workover & completion.These segments have been analyzed based on present and future trends.
Regional segmentation includes current and forecast demand for oilfield chemicals in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The global oilfield chemicals market has been analyzed in terms of revenue (US$ Mn) and volume (kilo tons). Market size has been provided in terms of global, regional, and country level market.
The report comprises profiles of major companies operating in the global oilfield chemicals market. Key players functioning in the oilfield chemicals market include Baker Hughes (A GE Company), Halliburton, Solvay S.A., BASF SE, Schlumberger Limited, Newpark Resources Inc., AkzoNobel N.V., Albemarle Corporation, The Dow Chemical Company, Gumpro Drilling Fluids Pvt. Ltd, Kao Chemicals, Chemiphase, Jiaxing Midas Oilfield Chemical Mfg. Ltd, and Imperial Oilfield Chemicals Pvt. Ltd.
Oilfield Chemicals Market, by Product
Biocides
Corrosion & Scale Inhibitors
Demulsifiers
Surfactants
Polymers
Lubricants
Hydrogen Sulfide Scavengers
Fluid Loss Additives
Others (Clay Stabilizer etc.)
Oilfield Chemicals Market, by Application
Production Chemicals
Drilling Fluids
Well Stimulation Fluids
Cementing Fluids
Enhanced Oil Recovery
Workover & Completion
Oilfield Chemicals Market, by Region
North America
U.S.
Canada
Europe
Norway
U.K.
Russia & CIS
Rest of Europe
Asia Pacific
China
India
ASEAN
Rest Of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa (MEA)
GCC
Iran
Nigeria
Rest of MEA
Key Takeaways
Demand for oilfield chemicals is anticipated to be high from 2019 owing to the positive scenario related to drilling activities
Well stimulation fluids are estimated to exhibit significant growth rate during the forecast period. Well stimulation fluids are used to boost the productivity of an oil well.
Drilling fluids application segment of the oilfield chemicals market held major share of the market in terms of value, while well stimulation fluids accounted for prominent share in terms of volume in 2017
Demand for oilfield chemicals is directly dependent on upstream, downstream, and midstream operations of the oilfield sector. Demand for oilfield chemicals is directly proportional to drilling, production, well stimulation, and workover and completion activities.
North America accounted for significant share of the oilfield chemicals market in 2017 due to the rise in development of unconventional oil and gas fields in the region
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