Oil Field Chemicals Market Top Key Players Focusing on Industry Growth Strategies, Size and Share | Global Industry Revenue, Statistics and Forecast to 2022

Power Transformer Market Overview:-

Oilfield chemicals strike a balance between costs and productivity which is benefitting the substances with the increasing market prominence and making them a high-value product to be used in the drilling processes. This is the key driving force propelling the market growth on the global platform.
Market Research Future (MRFR), a leading market research firm, in its recently published market analysis, asserts that the global Oilfield Chemicals Market will register a CAGR of approx. 5% throughout the forecast period (2016 – 2022), witnessing enormous growth by the end of 2022.

Global Oil Field Chemicals Market – Competitive Analysis

The market appears to be reasonably stable as far as eyes can see however a fierce competition will resurge replacing the stability and prompting to the players operating in the market to take up M&A activities, collaboration, contracts, agreements, and partnerships to churn the market competition.

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Top Key Players:-

The Global Oil Field Chemicals Market is driven by some of the leading players operating in the market including BASF SE, AkzoNobel N.V., The Dow Chemical Company (US), Clariant (Switzerland), Kemira Oyj (Finland), Schlumberger (US), Halliburton (US), and Lubrizol Corporation (US).

Industry/ Innovation/ Related News:

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.

January 10, 2018 – SNC Lavalin (US) announced that it has been awarded an exclusive agreement for rending its engineering services to a downstream petro-chemical and refining company in the US Gulf Coast. The agreement approximately values USD 100M.

January 05, 2018 – Endress+Hauser (US) partnering with other industry leaders like Angus Measurement Services, Vector Controls and TechnipFMC announced that joining the hands together these automation companies plan to add value to the O&G industry assisting customers with transition to the digital oilfield.

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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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This release was published on openPR.