Oilfield Chemicals Market Scope and Opportunities Analysis 2020 – 2027: BASF SE, Ecolab, Halliburton, Newpark Resources

The Insight Partners published a new report, titled, “Oilfield Chemicals Market ”. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain a competitive advantage.

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The global oilfield chemicals market is expected to reach US$ 43,685.6 Mn in 2027 from US$ 29,120.0 Mn in 2018. The market is estimated to grow with a CAGR of 4.7% from 2019-2027. The report highlights the trends prevalent in the global oilfield chemicals market and the factors driving the market along with those that act as deterrents to its growth.

Global oilfield chemicals market, based on the type, was segmented as, polymers, corrosion and scale inhibitors, demulsifiers, surfactants, gellants and Viscosifiers, others. In 2018, polymers held the largest share of the market, by type. However, the demulsifiers segment is anticipated to grow at a significant rate during the forecast period. The demulsifiers have properties to treat emulsions under conditions such as short residence times, high turbulence, high solid loadings, low temperature, and high water content these factors are anticipated to lead to the growth of the segment during the forecast period.

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The market for oilfield chemicals is expected to grow, owing to factors such as growth in oil exploration & production activities, increasing demand for advanced drilling fluids are boosting the oilfield chemicals market. However, crude oil price fluctuations is hindering the market for same in the current scenario.

The major players operating in the oilfield chemicals market include Akzo Nobel N.V., Albemarle Corporation, Baker Hughes, BASF SE, Ecolab, Halliburton, Newpark Resources Inc., Schlumberger Ltd., Solvay, and The Lubrizol Corporation. The market has witnessed various growth strategies during recent years in the oilfield chemicals market. During 2019, The Upstream Energy business operates within Ecolab’s Energy segment and consists of the Oil Field Chemicals production business and the WellChem drilling and well completion chemistry business. Ecolab intends to retain the downstream business, which helps refineries and petrochemical plants. The separation performance is expected to be tax-free spin-off to U.S. shareholders for U.S. federal income tax purposes.

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The report segments the global oilfield chemicals market as follows:

Global Oilfield Chemicals Market – By Type
•Polymers
• Corrosion and Scale Inhibitors
• Demulsifiers
• Surfactants
• Gellants and Viscosifiers
• Others

Global Oilfield Chemicals Market – By Application
•Drilling
•Cementing
•Enhanced Oil Recovery
•Production Chemicals
•Well Stimulation
•Workover and Completion

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