Oil Field Chemicals Market Business Opportunities, Growth Rate and Current Trends | Global Industry Key Players: ASF SE , Lubrizol Corporation ,Akzo Nobel N.V. , The Dow Chemical Company

Market Overview:-

Growth segments of drilling fluids along with stimulation chemicals will boost the development of the market to a great extent. Applications in the drilling, production, cementing markets are expected to fuel the expansion of the market in the forecast period. The demand for oil field chemicals has benefitted the cost related to the production of oil from novel sources which is considerably higher than the renewal of old sources. Specialized technologies available in the sector have increased the demand for the oil field chemicals market at a continual pace during the forecast period.

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.

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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 Segments

The market for oilfield chemicals has been segmented into the segments of materials, application and fluid type. The segmentation on the basis of material segments the market into commodity vehicles, specialty chemicals, and polymers. The application based segmentation of the market comprises of drilling fluid chemicals, production chemicals, and stimulation fluid additives. Finally, on the basis of the fluid type, the market has been segmented into completion, drilling, and stimulation.

Top Key Players:-

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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Regional Analysis of Oil Field Chemicals:-

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.

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