New York, NY 15 Jan 2021: The global oil well cementing market was estimated at a worth of USD 503.0 million in 2017 and is projected to grow at a CAGR of 6.3% over the forecast period. Increasing exploration and production from unconventional oil & gas reserves, rising count of matured wells, and increasing production from offshore reserves are expected to be the major driving factors for growth of oil well cement market over the forecast period.
There are several grades of these cement products, but majorly are categorized into ordinary, moderate sulfate resistant (MSR), and high sulfate resistant (HSR). On the basis of application, the global market is further segmented into onshore and offshore. Ordinary (Grade 0) also known as normal portland cement is one of the widely used type of portland cement which is the most common cement type for general use as a basic ingredient of non-specialty grout, mortar, stucco, and concrete.
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The raw material used for manufacturing oil well cement includes limestone, iron ore, coke and iron scraps. The product is manufactured from clinkers of Portland cements and also from cements that are hydraulically blended. Oil well cements are formulated for resisting high pressures and temperatures within the wellbore.
These products set slowly owing to its organic retarders which prevent it from setting too fast. It is due to all these characteristics that it is used in the building of the oil wells where the pressure is around 20,000 PSI and the temperature is around 500 degrees Fahrenheit.
The cement slurry is pumped into the wellbore through the casing and fills the space between the wellbore and casing. Cementing plug is inserted into the casing to provide sealing and removes debris from the casing. The main service providing companies include Halliburton, Schlumberger, Trican services and Baker Hughes which are the end-use segments of the oil well cement value chain.
Onshore drilling operations segment accounted for the largest market in 2017 with a share of 67.3% of oil well cementing market in 2017. Demand from offshore oil well drilling operations are anticipated to witness significant growth and account for 32.7% share of the global oil well cementing market in in 2026. Increasing exploration & production activities from offshore oil and gas reserves are expected to be driving product demand in the present industry space. However, ongoing investments in onshore matured and old wells can be considered a consistent source of product demand from the segment.
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Global Oil Well Cementing Market: Trending in 2021 New York, NY 28 May 2021: The global oil well cementing market was estimated at a worth of USD 503.0 million in 2017 and is projected to grow at a CAGR of 6.3% over the forecast period.
There are several grades of these cement products, but majorly are categorized into ordinary, moderate sulfate resistant (MSR), and high sulfate resistant (HSR).
On the basis of application, the global market is further segmented into onshore and offshore.
MSR usually generates less heat of hydration at a slower rate than cement Type I and thus, this cement is used in mass structures such as retaining walls, large piers, and heavy abutments.
The product is manufactured from clinkers of Portland cements and also from cements that are hydraulically blended.
Oil well cements are formulated for resisting high pressures and temperatures within the wellbore.
New York, NY 04 Mar 2021: The global well cementing services market size is anticipated to reach USD 13.38 billion by 2026 according to a new study published by Polaris Market Research.
The report “Well Cementing Services Market Share, Size Trends & Industry Analysis Report [By Process Type (Primary Cementing, Remedial Cementing, Others); By Application (Onshore and Offshore); By Regions]: Segment & Forecast, 2019 – 2026” provides contemporary market insights and taps future market trends.
Well cementing operations are a crucial part of the well completion process.
The cementing services for the petroleum industry are in the nascent stage of its economic cycle.
The industry is distinguished by an increasing number of entrant service providers within the industry.
The dip in crude prices has outweighed the market disrupting regional growth among oil producing nations.
