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Oilfield Chemicals Market Factors Boosting the Industry Growth Size Trend 2017-2023 with Major Vendor Landscape: Baker Hughes, Schlumberger Limited, Halliburton, Solvay and More

03-22-2019 06:28 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Oilfield Chemicals Market

Oilfield Chemicals Market

According to a new report published by Allied Market Research, titled, Oilfield Chemicals Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the oilfield chemicals market was valued at $41,667 million in 2016, and is estimated to reach $59,925 million by 2023, registering a CAGR of 5.2% from 2017 to 2023. In 2016, the drilling fluid application segment accounted for around one-third share of the total market.

In 2016, North America dominated the global market, owing to the growth in oil gas activities with the advancement in hydraulic fracturing and drilling processes. Moreover, technological advancement and increase in drilling activities are expected to increase the demand for oilfield chemicals in the near future. U.S. dominated the North America oilfield chemicals market in 2016, followed by Canada. LAMEA is the second leading geographical

segment, which is expected to register a CAGR of 5.9% from 2017 to 2013.
The key companies profiled in the report include Baker Hughes, Schlumberger Limited, Halliburton, Solvay S.A., Ecolab Inc., Newpark Resources Inc., BASF SE, Lubrizol Corporation, Akzonobel NV, and Albemarle Corp.

Download Sample PDF Brochure of Oilfield Chemicals Market Study at: https://www.alliedmarketresearch.com/request-sample/724

The growth of the global market is driven by the enduring activities to meet the increasing energy demand globally, which brought more petroleum crude oil wells to production state globally, which increases the demand for oilfield chemicals. Moreover, rise in exploration & production activities increases the need for oilfield chemicals, demand for advanced drilling fluids, and growth in deepwater & ultra-deepwater drilling projects are driving the global market. However, crude oil price fluctuations and increase in environmental concerns are expected to hamper the market growth in the near future. The emergence of eco-friendly oilfield chemicals is expected to provide a substantial growth opportunity in the near future.

The corrosion & scale inhibitors was the leading segment in 2016, and expected to dominate the market during the forecast period, as these control corrosions in tubing, casing, pipes, and other accessories; and help reduce foam & wax formation and bacterial growth, reduce fluid loss during operation and improve process efficiency.

The drilling fluids is the leading application segment, followed by well stimulation. Oilfield chemicals are widely used in drilling fluids to improve the productivity and efficiency of the oil drilling process. These chemicals safeguard the network of pipes used during drilling in an oilfield, which is affected by the factors, such as biological deposits, water, hydrogen sulfide, and other organic acids.

Do Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/724

Key Findings of the Oilfield Chemicals Market:
• In 2016, North America dominated the global market, with more than two-thirds share in the overall market.
• The demulsifier segment is estimated to grow at highest CAGR of 6.1% from 2017 to 2023.
• In 2016, the corrosion & scale inhibitor was the leading segment, accounting for nearly one-third share in global market.
• The well stimulation application segment is estimated to grow at highest growth rate, registering a CAGR of 6.0%.
• Asia-Pacific is expected to grow at highest CAGR of 6.7%, during the forecast period.
• U.S. is the leading country in global market, growing at a CAGR of 4.6% from 2017 to 2023.

About us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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