Oil Field Chemicals are the high value, well stimulation chemicals used to separate the waste and water produced in hydraulic fracturing during oil and gas exploration and energy production (E&P) activities. These chemicals improve the recovery process and the quality of the product (oil/gas/energy).
Global Key Players and Competition Analysis
Some of the key players in the Oil Field Chemicals market are BASF SE (Germany), Lubrizol Corporation (U.S.),AkzoNobel N.V. (Netherlands), The Dow Chemical Company (U.S.), Schlumberger, Halliburton (U.S.), Kemira Oyj (Finland) and Clariant (Switzerland) among others.
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The Oilfield Chemicals market has been segmented based on material as Specialty Chemicals, Commodity Vehicles, and Polymers. Based on application, the market has been segmented as Production chemicals, Drilling fluid Chemicals, Stimulation Fluid Additives. Based on Fluid type the market has been segmented as drilling, completion, stimulation.
North America is the leading region for this market mainly due to the increased exploration activities in USA and Canada. The increasing exploration activities in this region have in turn resulted in an increase in the Oilfield Chemicals market. Although there exists political instability in the Middle East, this region is expected to register high growth rate in the forecast period due to increasing trend of deep-water exploration and working in high temperatures which require much more expensive Oilfield Chemicals.
Increasing demand for oil and gas is expected to result in a rise in demand for the Oil Field Chemicals Market. In recent times the oil and gas has been experiencing a significant downturn due to the continuous fall in the prices. These changes in the supply and demand dynamics is expected to induce a rise in the number of oil wells thus resulting in boosting the Oil Field Chemicals market. Increasing demand for oil and gas is also expected to fuel the demand in the Oil Field Chemicals market.
Browse the market data and information spread across 120 pages with 49 data tables and 09 figures of the report “Oil Field Chemicals Market Research Report – Global Forecast to 2022” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/oil-field-chemicals-market-1755
January 29, 2018 – Exxon Mobil Corporation (US), a global O&G Company, announced its plans to pump up USD 50 billion’s investments over the next five years, in view with the recent tax deduction by the US governments. The company also mentioned its plans to increase the daily production at the Permian Basin, Southwest USat a rate of 600,000 barrels a day.
January 15, 2018 –Exxon Mobil Corporation (US) announced discovering the Hydrocarbons reserves during an onshore drilling at P’nyang (South-2 well), Western Province of Papua New Guinea. The company expects that; the recent discovery will add value to its growth combining with the InterOil Corporation acquisition and increased assessed reserves in the existing PNG LNG project.
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