DUBLIN, Feb. 10, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/hzff2r/specialty) has announced the addition of the "Specialty Oilfield Chemicals Market by Type, Application, and by Region - Global Forecast to 2020" report to their offering.
The global specialty oilfield chemicals market size is projected to reach USD 13.65 Billion by 2020, registering a CAGR of 5.5% between 2015 and 2020.
Increasing crude oil production from North America and the Middle East & Africa is expected to drive the specialty oilfield chemicals market. The active participation of countries such as the U.S., Saudi Arabia, and Iran is expected to increase the demand of specialty oilfield chemicals in the production chemicals segment. The presence of deepwater reserves, corrosive offshore fields, and shale reserves in regions such as Latin America & RoW and Asia-Pacific provide growth opportunity to the market during the forecast period.
The production chemicals application dominated the global specialty oilfield chemicals market in 2014 and also witnessed the highest growth rate. Increasing the productivity of both existing and new oil & gas fields through chemical and thermal EOR processes is expected to provide impetus to the EOR application of specialty oilfield chemicals. Because of the above factors, production chemicals and EOR are identified to be the fastest-growing application segments in the specialty oilfield chemicals market, owing to greater demand from Latin America, Asia-Pacific, Europe, and the Americas.
The demand of specialty oilfield chemicals is projected to witness higher growth rate for the specialty biocides type because of the level of microbial contaminants in water that is used in various stages of oil extraction. Various developments to introduce eco-friendly biocides are expected to further increase the growth of specialty biocides in the market.
North America was the dominating market for specialty oilfield chemicals in 2014. The enormous potentials in the EOR and shale reserves exploration, particularly in Canada and Mexico, are expected to further drive the specialty oilfield chemicals market in North America. On the other hand, the Middle East & Africa is projected to witness the highest growth rate during the forecast period, followed by Latin America & RoW. The active participation of countries such as Saudi Arabia and Iran are expected to propel the high growth for the market. Latin America & RoW is driven by the deepwater and unconventional oil & gas projects that are more challenging and require specialty chemicals for increased productivity.
Some of the oilfield service operators are also known to have a distinguished portfolio of specialty oilfield chemicals in the market. Some of the market players are BASF SE (Germany), AkzoNobel N.V. (Netherlands), The Dow Chemical Company (U.S.), Schlumberger (U.S.), Halliburton (U.S.), Lubrizol Corporation (U.S.), Kemira oyj (Finland), Clariant (Switzerland), Nalco Champion (U.S.), and others. All these market participants adopted several inorganic and organic growth strategies to increase their market share between 2011 and 2015.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Specialty Oilfield Chemicals Market, By Type
8 Specialty Oilfield Chemicals Market, By Application
9 Specialty Oilfield Chemicals Market, By Region
10 Competitive Landscape
11 Company Profiles
- Akzonobel Nv - Albemarle Corporation - Baker Hughes Inc. - Basf Se - Clariant - Halliburton Company - Kemira Oyj - Lubrizol Corporation - Nalco Champion - Schlumberger Limited - Solvay S.A. - Stepan Company - The Dow Chemical Company
For more information visit http://www.researchandmarkets.com/research/hzff2r/specialty
Laura Wood , +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets