Global Oil Field Specialty Chemicals Market, By Type (Surfactants, Demulsifiers, Inhibitors, Biocides, Additives, Acids, Deformers, Polymers, Friction Reducers, Emulsifiers, Iron Control Agents, Dispersants, Viscosifiers, Wetting Agents, Retarders and Others), Location (Onshore and Offshore), Application (Drilling, Stimulation, Production, Enhanced Oil Recovery (EOR), Cementing, Workover & Completion and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Luxemburg, Rest of Europe, Japan, China, India, South Korea, Australia & New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Oil Field Specialty Chemicals Market
Global oil field specialty chemicals market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 4.7% in the forecast period of 2021 to 2028 and expected to reach USD 3,296,070.38 thousand by 2028.
The oil field specialty chemicals are those chemicals which are commonly used in the recovery of oil efficiently from the resources with impacting the environment and equipment. Oil field specialty chemicals have several positive functions such as improved oil recovery, drilling optimization, corrosion protection, prevent mud loss in different geological formations, and stabilize drilling fluid in high pressure and high temperature environment among others.
Several different types of chemicals can be used to remove wax depositions and several methods to apply them. The application of thermochemical packages is a more controversial wax removal technique. Wax-free and fewer impurity products are more used in the running machine and vehicles in different sectors. To maintain the excellent quality of the oil products, usage of oil field specialty chemicals are used. In the other techniques and methods for removing oil fields, specialty chemicals are used.
This oil field specialty chemicals market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Oil Field Specialty Chemicals Market Scope and Market Size
Oil field specialty chemicals market is segmented of the categorized into type, location and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, global oil field specialty chemicals market is segmented into surfactants, emulsifiers, inhibitors, biocides, additives, acids, deformers, polymers, friction reducers, demulsifiers, iron control agents, dispersants, viscosifiers, wetting agents, retarders and others. In 2021, the surfactants segment is expected to dominate the market globally as surfactants reduce the solubility of oil and water which increase its demand globally.
- On the basis of location, global oil field specialty chemicals market is segmented into onshore and offshore. In 2021, the onshore segment is expected to dominate globally as onshore location requires more reliable and flexible equipment which increase the demand for the oil field specialty chemicals for onshore location.
- On the basis of application, global oil field specialty chemicals market is segmented into drilling, stimulation, production, enhanced oil recovery (EOR), cementing, workover & completion and others. In 2021, with the rising demand for the oil and energy products globally increasing the demand for drilling application in oil industry globally.
Global Oil Field Specialty Chemicals Market Country Level Analysis
Oil field specialty chemicals market is segmented of the categorized into type, location and application.
The countries covered in global oil field specialty chemicals market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Luxemburg, Rest of Europe, Japan, China, South Korea, India, Australia and New Zealand, Singapore, Thailand, Hong-Kong, Taiwan, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, Saudi Arabia, U.A.E., Israel, and Rest of Middle East and Africa.
China is expected to dominate the global oil field specialty chemicals market as the drilling application is increasing in the region, due to more demand for automotive products. The U.S. is dominating the North America market due to more drilling activity at existing reservoir which increases the demand for oil field speciality chemicals in the region while in the European region, Germany is dominating due to more exploration of new reservoirs which increases the drilling activities in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rise in the Demand for Petroleum in Automotive Industry
Oil field specialty chemicals market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in oil field specialty chemicals market and changes in regulatory scenarios with their support for the oil field specialty chemicals market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Oil Field Specialty Chemicals Market Share Analysis
Global oil field specialty chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Pacific oil field specialty chemicals market.
The major market players engaged in the global oil field specialty chemicals market are BASF SE, Solvay, Dow, Baker Hughes Company, Clariant, Evonik Industries AG, Kemira, Thermax Limited., Huntsman International LLC., Colonial Chemical Inc., Zirax, Innospec, CES Energy Solutions Corp., Stepan Company, EMEC, Chevron Phillips Chemical Company LLC, KRATON CORPORATION., Jiaxing Midas Oilfield Chemical Mfg Co., Ltd, Versalis S.p.A., Halliburton and Albemarle Corporation among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many expansions are also initiated by the companies worldwide which are also accelerating the growth of oil field specialty chemicals.
For instance,
- In February 2021, Stepan Company acquired a fermentation plant, located in Lake Providence, Louisiana. Fermentation is a new platform technology for the company. This development helps the company to increase production capacity
- In June 2019, Kemira has decided to increase production of emulsion polymers products in Mobile, Alabama. The products are primarily used in the oil and gas industry for the production of petroleum products. This development helped the company to fulfil the increasing demand for chemicals in the market
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company market in the oil field specialty chemicals market which also provides the benefit for organization to improve their offering for oil field specialty chemicals.
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