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Oilfield Chemicals Market 2023 - By Industry Share, Business Growth, Future Demand, Opportunities And Outlook 2032
Oilfield Chemicals Market
The Business Research Company's Oilfield Chemicals Global Market Report 2023 identifies increase in oil production and exploration as the major driver for the Oilfield Chemicals market's growth in the forecast period. Oil exploration refers to the procedures and techniques used to identify possible locations for drilling and extracting oil and gas. Oilfield chemicals are extensively used as drilling fluids in various to extract oil by improving oil recovery.
The oilfield chemicals market size is expected to grow from $31.03 billion in 2022 to $33.61 billion in 2023 at a compound annual growth rate (CAGR) of 8.31%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The oilfield chemicals market size is expected to reach $41.92 billion in 2027 at a CAGR of 5.67%.
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Major competitors in the Oilfield Chemicals market are Albemarle Corporation, Baker Hughes Company, Solvay S.A., Halliburton, Kemira Oyj, The Lubrizol Corporation, Stepan Company, Schlumberger Limited.
A key trend in the Oilfield Chemicals market includes Product innovations. Major companies operating in the market focus on developing innovative products for market growth. For instance, in April 2022, Ingevity Corporation is launching new bio-based oilfield products, EnvaWet UHS 3100 wetting agent and EnvaDry P-FL dual-functional dry additive derived from pine-based tall oil for invert emulsion drilling fluids. EnvaDry P-FL is a 100% active spray-dried technology to provide primary emulsification benefits and improve fluid loss control. EnvaWet UHS 3100 helps to maintain the rheology of fluids with the exceedingly high volume of solids.
Read More On The Global Oilfield Chemicals Market Report Here: https://www.thebusinessresearchcompany.com/report/oilfield-chemicals-global-market-report
The Oilfield Chemicals market is segmented -
• By Type: Polymers, Corrosion And Scale Inhibitors, Demulsifiers, Surfactants, Gellants And Viscosifiers, Other Types
• By Location: Onshore, Offshore
• By Application: Drilling, Cementing, Enhanced Oil Recovery, Production Chemicals, Well Stimulation, Workover And Completion
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Oilfield Chemicals market.
The Business Research Company's "Global Oilfield Chemicals Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Oilfield Chemicals Market Include:
1. Executive Summary
2. Oilfield Chemicals Market Characteristics
3. Ollfield Chemicals Market Trends And Strategies
4. Oilfield Chemicals Market - Macro Economic Scenario
5. Oilfield Chemicals Market Size And Growth
………………………………….
26. Africa Oilfield Chemicals Market
27. Oilfield Chemicals Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Oilfield Chemicals Market
29. Oilfield Chemicals Market Future Outlook and Potential Analysis
30. Appendix
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