New Research On Oilfield Chemicals Market Growth by Top Key Players - Baker Hughes, Akzo Nobel NV, Elementis Plc., NALCO Champion, Newpak Resources Inc., The Lubrizol Corporation

Oilfield chemicals find major application in the exploration of natural gas and at various levels of oil & gas production process. Oilfield chemicals are used as corrosion inhibitors, emulsion breakers, cementing super plasticizers, paraffin dispersants, and drilling additives, among others. Oilfield chemicals market continues to witness strong growth as it has led to cost-effective extraction, exploration, and production of oil and natural gas. Oilfield chemicals are regarded as the essential fossil fuel elements as it helps in a feasible way of drilling reservoirs of gas or oil in various terrains along with the easy extraction of abundant fossil fuels until the amount of recovered fuel becomes too expensive to continue.

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With the increase in dependency on oil & gas industries, owing to increased domestic oil consumption, upsurge in vehicle parc, growing attention towards building deep sea oil reserves, increased usage of diesel for irrigation purposes due to the weather fluctuations and irregularities of monsoon along with rising air traffic are expected to fuel growth of the global oilfield chemicals market. Oilfield chemicals find major application in drilling activities, owing to increasing need to improve and enhance the efficiency and productivity of drilling operations.

Oilfield Chemicals Market Outlook - North America is expected to be the most lucrative region for key players

The regional coverage for global oilfield chemicals market include North America, Europe, Asia Pacific and Rest of the World. Rapid growth in the gas and oil production activities in North America represents the highest market share for oilfield chemicals industry. Exploration and production activity has surged 12% and as reported by The North Dakota Industrial Commission since OPEC's agreement, oil and gas operators will be shifting from running minimum number of rigs to incremental increases throughout 2017, so long as oil prices remain above US$ 50 per barrel.

Major players operating in the global oilfield chemical market include Baker Hughes, Akzo Nobel NV, Elementis Plc., NALCO Champion, Newpak Resources Inc., The Lubrizol Corporation, Halliburton Company, Solvay SA and others.

Oilfield Chemicals Market Taxonomy

By Type of Oilfield Chemicals

On the basis of type of agent, the global market is classified as:

Specialty Surfactants
Demulsifiers
Rheology Modifiers
Inhibitors & Scavengers
Friction Reducers
Gellants & Viscosifiers
Specialty Biocides
Others

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This release was published on openPR.