Global Oilfield Specialty Chemical Market: Forecast to 2022
Added: (Tue Jan 30 2018)
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Specialty oilfield market is likely to witness substantial growth over the forecasted period owing to increasing application in cementing, drilling, production and Well Stimulation. Increasing crude oil production coupled with growing demand from enhanced oil recovery application is anticipated to augment specialty oilfield chemicals market growth. In addition, increasing deep drilling and ultra-deep drilling activities for oil and gas have been driving the market over the past few years and trend is expected to continue over the forecast period.
Recent boom in shale gas production in North America coupled with increasing demand for energy across the world is one of the key factors which is expected to foster the market growth over the projected period. In addition, use of specialty chemicals prolongs the industrial equipment life by removing unwanted deposited metal scales, eventually minimizing equipment maintenance cost. This advantage in reducing maintenance cost is further expected to have positive impact on market growth over the forecast period. However, subdued oil prices and increasing environmental concerns is expected to hinder future of specialty oilfield chemicals market growth.
According to Azoth Analytics research report, “Global Oilfield Specialty Chemical Market – By Chemical Type (Corrosion Inhibitors, Demulsifiers, Viscosifiers, Friction Reducers, Rheology modifiers, Biocides, Dispersants), By End User Type (Drilling Fluid, well stimulation, Production Chemicals, Cementing, EOR): 2018 Edition”, North America region is the biggest market in the current period and expected to lead in forecast period. In the forecast period, APAC region will witness strong growth backed by rising production and exploration activities in emerging countries such as China, India, Indonesia and Australia. Market for Specialty oilfield chemicals in APAC is driven by rise in production and development of crude oil wells on the back of increasing investment in Upstream and Exploration segment.
The report titled, “Global Oilfield Specialty Chemical Market – By Chemical Type (Corrosion Inhibitors, Demulsifiers, Viscosifiers, Friction Reducers, Rheology modifiers, Biocides, Dispersants), By End User Type (Drilling Fluid, well stimulation, Production Chemicals, Cementing, EOR): 2018 Edition”, has covered and analysed the potential of Global Oilfield Specialty Chemicals Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the Global Oilfield Specialty Chemicals Market. Additionally, the report also highlights market entry strategies for various companies across the globe.
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