Specialty Oilfield Chemicals Market worth $14.5 billion by 2027- Exclusive Report by MarketsandMarkets™

News provided by

Apr 07, 2023, 04:00 ET

CHICAGO, April 7, 2023 /PRNewswire/ -- The report "Specialty Oilfield Chemicals Market by Type (Demulsifiers, Inhibitors & Scavengers, Rheology modifiers, Friction reducers, Specialty biocides, Specialty surfactants, Pour point depressants, and Others), Application, and Region - Global Forecast to 2027", is approximated to be USD 11.8 billion in 2022, and it is projected to reach USD 14.5 billion by 2027, at a CAGR of 4.2%.

Browse in-depth TOC on "Specialty Oilfield Chemicals Market"

375 – Tables

40 – Figures

277 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=517

Rising population, improving living standards, and increasing developmental activities, lead to an increase in the energy demands from several end-use industries. As a result of this, the production of crude oil rises which drives the market of specialty oilfield chemicals during the forecast period. In addition to this, these chemicals have beneficial characteristics which improve the productivity of the oil wells, which supports the growth of the specialty oilfield chemicals market in the forecast period. The fluctuation in crude oil prices, and geopolitical issues in the Middle East region are the main restraining factor of this specialty oilfield chemicals market. However, the increasing aging of oil reservoirs and exploration of new oil fields are come out to be a better opportunity for the specialty oilfield chemicals market. The presence of strict environmental norms is the major challenge of this market.

By Type, Demulsifiers accounted for the largest share in 2021

Demulsifiers are the chemical compounds which are used to break down the emulsions, which are the mixtures of oil and water which are occurred in the oil and gas industry. Demulsifiers are used in a wide range of oil and gas operations, including drilling, production, transportation, and refining process to produce crude oil-derived products. The most desirable qualities of an ideal demulsifier are the ability to rapidly break down into water or oil with a minimal amount of residual water and a good shelf-life.

By Application, Production accounted for the largest share in 2021

The specialty oilfield chemicals are used in the production of crude oil, predominantly include the aliphatic, alicyclic, and aromatic hydrocarbons. The production process is very complex, and sometimes the oilfield chemical compounds do not contain the pure form of compounds, however, instead of this, a mixture of reaction products, reactants, and diluents is present. In addition to this, these chemicals are designed especially for each oilfield, and within the oilfield, for each oil-well. Apart from this, these chemicals are also used while transporting the oil from one place to another.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=517

North America accounted for the largest share as well as the fastest growing market for specialty oilfield market in 2021

North America accounts for the largest share in 2021, in this market. This is attributed to the rapid exploration of shale gas and oil reserves in the region, however, the market of specialty oilfield chemicals is dominated by the oil & gas industries. The US witnesses a high demand for specialty oilfield chemicals, which is projected to continue in the future. Moreover, there is a significant increase in the use of these chemicals in applications, such as drilling fluids, cementing, well stimulation, and production. Hence, increasing the exploration of oil reserves will support the growth of specialty oilfield chemicals during the forecast period.

Market Players

The specialty oilfield chemicals market comprises major players such as BASF SE (Germany), Ecolab (US), Clariant (Switzerland), Dow (US), Solvay (Belgium), SLB (US), Halliburton (US), Baker Hughes Company (US), Kemira (Finland), Arkema (France), and others.

Browse Adjacent Market: Bulk Chemicals and Inorganics Market Research Reports & Consulting

Related Reports:

Oilfield Stimulation Chemicals Market- Global Forecast to 2020

Production Chemicals Market- Global Forecast to 2020

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/biomedical-textile-market.asp - utm_source=Prnewswire&utm_medium=referral&utm_campaign=paidpr https://www.marketsandmarkets.com/ResearchInsight/specialty-oilfield-chemicals.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/specialty-oilfield-chemicals.asp