Oil Field Chemicals 2018 Market Size And Share Analysis | Global Industry Revenue, Technological Advancement, Demand, Upcoming Trends Forecast to 2022

Oil Field Chemicals Global Market provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Oil Field Chemicals Market analysis is provided for the international Industry including development trends, competitive landscape analysis, and key regions development status.

Oil Field Chemicals Market Competitive Analysis:-

The prospects for growth in the market appear to be promising through the forecast period. The companies in this market are adjusting to the state of events by employing portfolio upgrades and maintaining financial fluidity. The market competitors are formulating their blueprints for corporate strategy in a way can bring about the best consequences for growth in the current scenario, while also concurrently enhancing their product’s value. The constant delivery of customer value has enhanced the market value of the industry. The capability to fuel competitive capabilities is one of the chief causes powering their efforts in this period. The escalating levels of diversification in the industry, have allowed the companies to utilize many opportunities available in the industry. Moreover, the contenders are handling the competitive environment by driving the market growth factors to their advantage.

The major competitors in the Oil Field Chemicals market include AkzoNobel N.V. (Netherlands), Schlumberger, Halliburton (U.S.), The Dow Chemical Company (U.S.), Kemira Oyj (Finland) Lubrizol Corporation (U.S.), BASF SE (Germany), and Clariant (Switzerland) among others.

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Oil Field Chemicals Market – Overview

The global oil field chemicals market has witnessed a remarkable growth in the past few years and it has been anticipated that the market will grow at the rapid pace during the forecast period. Drilling fluids plays a crucial role in oil and gas exploration activities. Drilling fluids are also called as drilling mud. Mud perform various functions while drilling such as cool the drill bit and lubricate its teeth, carries the drill cutting to surface, maintain the hydrostatic pressure in the borehole and others. 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. As per the study conducted by Market Research Future, the global market for Oil Field Chemicals is likely to grow at the CAGR of around 5%.

Industry Updates:

April 2018 SCF Partners have recently collected $800 million for a new fund, which is one of a small but rising number of private-equity firms looking for capitalizing on the nascent recovery in the oil field-services sector. The firm’s current portfolio comprises of Rockwater Energy Solutions Inc. which deals in oil field chemicals that had merged last year with publicly traded Select Energy Services Inc. The merger was part of an all-stock deal. The joint company’s water-related services have been using the Select name, but Rockwater's chemicals business unit is using the Rockwater brand name.

Industry News:-

In November, 2017 – Schlumberger inaugurated the newly expanded reservoir rock and fluid analysis laboratory located in Houston, Texas. The state-of-the-art lab enables petro technical experts to better leverage physical and digital rock and fluid analysis for comprehensive reservoir characterization.

In July, 2017 – Schlumberger announced an agreement to acquire a majority (51%) equity interest in Eurasia Drilling Company Limited.
In August, 2017 – Microsoft and Halliburton announced plans to enter into a strategic alliance to drive digital transformation across the oil and gas industry.

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Oil Field Chemicals Global Market – Segmentation

The scope of global Oil Field Chemicals market is segmented into three major segments which are explained below:

By Material
• Specialty Chemicals
• Commodity Vehicles
• Polymers

By Application
• Production Chemicals
• Drilling Fluid Chemicals
• Stimulation Fluid Additives

By Fluid Types
• Drilling
• Completion
• Stimulation

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Regional Analysis:-

The regional analysis of the oil field chemicals market globally has been segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). As per the regional analysis of the oilfield chemicals market, the North American region is leading in this market primarily due to the amplified exploration undertakings in countries such as USA and Canada. The growing exploration activities in this region have in turn resulted in an upsurge in the Oilfield Chemicals market. Although there is a certain level of political instability in the Middle East, this region is estimated to list higher growth rate in the forecast period owing to the growing trend of deep water exploration and operating in high temperatures which is much more expensive than oilfield chemicals.

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This release was published on openPR.