Global Specialty Oilfield Chemicals Market is projected to register a CAGR of 8.5% in the forecast period of 2019 to 2026. The new market report contains data for the historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Drivers: Global Specialty Oilfield Chemicals Market
- Increase in oil and gas drilling activities
- Enhanced oilfield chemicals usage in wide range of applications
Restraints:
- Stringent Environmental Regulations
- Decline in Crude Oil Prices
Opportunity:
- Emergence of eco-friendly oilfield chemicals
Challenge:
- Exposure of dangerous chemicals in the oil & gas sites leads to health effects
Market Trends:
Global specialty oilfield chemicals market is segmented into three notable segments on the basis of type and application.
- On the basis of type, the market is segmented into biocides, inhibitors, viscosifiers, demulsifiers, surfactants, acids, friction reducers, iron control agents, polymers, wetting agents, dispersants, additives, retarders, defoamers, emulsifiers and others. Inhibitors are growing with the highest CAGR as these chemicals are used throughout the extraction and production process of oil from oilfields
- On the basis of application, the market is segmented into drilling, production, stimulation, cementing, enhanced oil recovery (EOR), workover & completion and others
Key Market Players: Global Specialty Oilfield Chemicals Market
Some of the major players operating in this market are BASF SE, Baker Hughes, a GE company LLC, Croda International Plc, Schlumberger Limited, Huntsman International LLC, Ecolab, Solvay, ELEMENTIS PLC, Evonik Industries AG, Halliburton, Stepan Company, CPS Performance Materials, Ashland, Innospec, Roemex Limited, Clariant, Kemira, KRATON CORPORATION, Chevron Corporation (Chevron Philips Chemical Company LLC) and Thermax Global.
