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“Global specialty oilfield chemicals market is projected to grow at a CAGR of 4.2%, in terms of value, during the forecast period”
The global specialty oilfield chemicals market is projected to reach USD 13.4 billion by 2025, at a CAGR of 4.2%, from 2020. Specialty oilfield chemicals are used to achieve higher productivity and increase the yield of an oil & gas field. The consumption of these chemicals varies according to the oil well specifications and imparts unique capabilities and functionality to well drilling, completion, and intervention or stimulation activities. North America is the largest market, followed by Middle East & Africa. A projected increase in crude oil production after an expected decrease in the COVID-19 impact in the near future is expected to drive the market during the forecast period. Stringent environmental regulations and geopolitical issues in the Middle East region are the factors restraining the market. The discovery of new oilfields and an increase in aging oil reservoirs are expected to provide high growth opportunities to manufacturers.
“Demulsifiers to be the largest type segment in the global specialty oilfield chemicals market”
Demulsifiers is projected to be the largest type segment in the global specialty oilfield chemicals market from 2020 to 2025. They find extensive application in the separation of water and oil from water-oil emulsions, and thereby, reduce the chance of adulteration in the produced oil. They act on the emulsion by flocculation of oil droplets, dropping of water, and coalescence of water droplets. The major factor driving the demulsifiers type is an expected increase in crude oil production after an expected decrease in the COVID-19 impact in the near future.
“Production to be the largest application of specialty oilfield chemicals during the forecast period”
Production is expected to be the largest application segment of the global specialty oilfield chemicals market from 2020 to 2025. The increase in the production of crude from major oil-producing countries around the globe is expected to propel the demand for specialty oilfield chemicals during the forecast period. Conventionally, drilling and production applications have the highest consumption of oilfield chemicals, but the decrease in drilling activities in various regions due to the declining oil prices have resulted in production as the largest application of specialty oilfield chemicals, globally. These factors are expected to boost the demand for these chemicals in the production application.
“North America to be the leading market during the forecast period, in terms of both volume and value”
North America is the largest specialty oilfield chemicals market as the region holds considerable growth potential for extensive oil and gas production and even drilling activities, which plays an important role in propelling the demand for specialty oilfield chemicals in the country. The exploration of shale gas reserves in the region presents growth opportunities for the specialty oilfield chemicals market. This trend is expected to continue due to the discovery of new resources and continued exploration and production activities in this region.
- By Company Type: Tier 1 - 45%, Tier 2 - 22%, and Tier 3 - 33%
- By Designation: C-Level - 50%, Director Level - 10%, and Others - 40%
- By Region: North America - 28%, Europe - 18%, APAC - 18%, Middle East & Africa - 18%, and South America - 9%, Former Soviet Union – 9%
The key players profiled in the report include BASF SE (Germany), Clariant (Switzerland), The Dow Chemical Company (US), Solvay (Belgium), Ecolab Inc. (US), Halliburton (US), Schlumberger Limited (US), Nouryon (Netherlands), Baker Hughes Incorporated (US), Kemira (Finland), Huntsman (US), Croda (UK), Albermarle (US), Chevron Philips Chemical Company (US), Innospec Inc.(US), National Oilwell Varco (US), Geo Specialty Chemicals (US), Kraton (US), Thermax (India), Oleon (Belgium), Ashland (US), PureChem Energy Services (Canada), Stepan Company (US), Elementis (US), among others.
This report segments the market for specialty oilfield chemicals based on type, application, and region, and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, and key strategies, associated with the market for specialty oilfield chemicals.
Reasons To Buy this Report
This research report is focused on various levels of analysis?industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the specialty oilfield chemicals market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights into the following pointers:
- Market Penetration: Comprehensive information on specialty oilfield chemicals offered by top players in the global market
- Market Development: Comprehensive information about lucrative emerging markets ? the report analyzes the markets for specialty oilfield chemicals across regions
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global specialty oilfield chemicals market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the specialty oilfield chemicals market