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. 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.
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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.
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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.
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The report comprises profiles of major companies operating in the global oilfield chemicals market. Key players operating in the global market are 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, Thermax global, and Imperial Oilfield chemicals Pvt Ltd.
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