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Oilfield Chemicals Market Size | Exclusive Report on Growth Opportunities in the Industry 2030
Oilfield Chemicals Market
Allied Market Research recently published a report, titled, "Oilfield Chemicals Market by Product (Corrosion & Scale Inhibitors, Demulsifier, Surfactants, and Others) and Application (Drilling, Cement, Stimulation, and Production): Global Opportunity Analysis and Industry Forecast, 2021-2030".
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Major Market Players
⦁ Albemarle Corporation
⦁ Baker Hughes Company
⦁ Croda international plc
⦁ Ecolab Inc.
⦁ Halliburton
⦁ Kemira
⦁ Schlumberger
⦁ Solvay
⦁ Stepan
⦁ The Lubrizol Corporation.
Drivers, restraints, and opportunities
Rise in drilling activities and surge in oil & gas exploration and production have boosted the growth of the global oilfield chemicals market. However, surge in trend of renewable energy and crude oil price volatility hinder the market growth. On the contrary, aging oil field reservoirs and reserves in South China Sea would open new opportunities in the future.
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Key Findings Of The Study
⦁ By product, the demuslifier segment garnered around 12.0% market share in 2020 in terms of revenue.
⦁ On the basis of application, the cement garnered 8.4% market share in 2020 in terms of revenue, and is anticipated to continue its dominance during the forecast period.
⦁ Region wise, Europe is expected to grow at 2.6% in terms of revenue.
⦁ The oilfield chemicals market size is provided in terms of kilotons and $million
⦁ This report provides a detailed analysis of the current oilfield chemicals market trends and future estimations from 2021 to 2030, which helps to identify the prevailing oilfield chemicals market opportunities.
The corrosion & scale inhibitor segment to manifest the highest CAGR through 2030
By product, the corrosion & scale inhibitors segment is estimated to register the highest CAGR of 3.4% during the forecast period. In addition, the segment dominated the market in terms of revenue, contributing to more than two-fifths of the global oilfield chemicals market in 2020, as it helps to remove scale from oilfield water systems. The report includes analysis of segments such as demulsified, surfactants, and others.
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The construction & plant modification segment held the largest share
By application, the drilling segment held the largest share in 2020, contributing to nearly half of the global oilfield chemicals market, owing to rise in exploration and drilling activities. However, the stimulation segment is estimated to register the highest CAGR of 3.5% during the forecast period, as stimulation process increases reservoir production in tight oil basins.
LAMEA, followed by North America, held the lion's share
By region, the global oilfield chemicals market across LAMEA, followed by North America, held the largest share in 2020, accounting for nearly three-fifths of the market, due to presence of large number of consumer base in Middle East and Latin America. However, market across Asia-Pacific is projected to portray the highest CAGR of 3.5% during the forecast period, due to rise in offshore activity in the South China Sea due to deep-water reserves and surge in energy demand in the region.
For More Details: https://www.prnewswire.com/news-releases/oilfield-chemicals-market-to-garner-35-0-billion-globally-by-2030-at-3-2-cagr-says-allied-market-research-301517782.html
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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.
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