Specialty Oilfield Chemicals Market is Forecasted to Reach US$ 14.84 Billion in 2028, Says Stratview Research

The global specialty oilfield chemicals market is projected to witness a growth rate of 4.6% annually from 2023 to 2028 with an anticipated size of US$ 14.84 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global specialty oilfield chemicals market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 14.84 billion
Growth (CAGR): 4.6% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Specialty Oilfield Chemicals Market:

The global specialty oilfield chemicals market is segmented based on application type, chemical type, and region.

Based on application type - The market is segmented as enhanced oil recovery (EOR), cementing, production, well stimulation, drilling fluids, and workover & completion. Production is likely to be the largest as well as the fastest-growing segment of the specialty oilfield chemicals market. In recent years, the production of crude oil has increased in countries such as the USA and Arabian countries. This continuous demand from such countries is likely to boost the demand for specialty oilfield chemicals during the forecast period.

Based on chemical type - The market is segmented as inhibitors & scavengers, demulsifiers, friction reducers, specialty biocides, rheology modifiers, specialty surfactants, pour-point depressants, and others. The specialty biocides segment of the market is estimated to grow at the highest CAGR during the forecast period. Biocides eliminate or control microbial growth in oilfields. They maintain and optimize oil & gas production from reservoirs by reducing the downtime caused by corrosion. These chemicals are also used to clean oil wells and surface equipment.

To know the most attractive segments, click here:
https://stratviewresearch.com/1458/specialty-oilfield-chemicals-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is estimated to be the largest as well as the fastest-growing market. This growth outlook is majorly attributed to the following-

• Due to the presence of various key producers of specialty oilfield chemicals in the region and growing exploration activities for oil reserves & shale gas.
• The US is depicting increased demand for specialty oilfield chemicals, which is expected to continue in the future as well. Latin America and The Middle East are amongst the other rapidly growing markets.
• These markets are characterized by increasing oil exploration and drilling activities owing to rapid industrial growth in the regions.
• Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Specialty Oilfield Chemicals Market Drivers:

Some of the key drivers listed in the report are given below.

• The growing demand for energy production
• An increase in the production of crude oil.
Most countries are focusing to extracting more oil from the existing as well as from new reserves, due to which, the global production of crude oil is growing at a faster pace.

Top Companies in the Specialty Oilfield Chemicals Market:

Stratview Research has identified the following companies as the top market players.
• Akzo Nobel N.V.
• BASF SE
• Halliburton Company
• Baker Hughes, Inc
• Schlumberger N.V.
• Solvay SA
• DowDuPont
• Ecolab Inc.
• Clariant AG
• The Lubrizol Corporation.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Specialty Oilfield Chemicals Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Digital Oilfield Market: https://stratviewresearch.com/725/digital-oilfield-market.html
• Demulsifier Market: https://stratviewresearch.com/3501/demulsifier-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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This release was published on openPR.