The global oilfield chemicals market is anticipated to reach USD 35.08 billion by 2026 according to a new study published by Polaris Market Research.
The moderate increase currently and expected boom in the near future of crude oil prices are expected to bring about increases in demand for oilfield chemicals that are used in well drilling & completion, hydraulic fracturing and EOR operations. The revival of drilling operations in the existing wells owing to increase in crude prices to a feasible level and the rise in drilling of unconventional wells for pilot project and also for production especially in the North American and North Sea regions will add to demand for these products. The enhanced technologies currently utilizaed for developing shale gas and tight oil resources have evolved as major trend over the past years. This will include the ongoing trend towards fracturing fluids for slick water and also high-performance drilling mud chemicals.
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Development of several chemical formulations that can address environmental concerns will have an important impact on its market, promoting to added demand for high quality environmentally friendly chemicals, including less toxic biocides and biodegradable shale inhibitors. Offshore operations are anticipated to stay vital contributor for the market globally and the necessity for environmentally compatible chemicals and fluids will be leading in the offshore environments.
Projections for raw materials used for the development of oilfield chemicals are entrenched in the finished products outlook in which these are used. Polymers and acids used in such stimulation chemicals are expected to register higher growth, driven by constant expansion of the well stimulation technologies. However, clays along with other commodities used in the drilling fluids are anticipated to decline moderately early over the forecast period.
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Increasing concerns for pollution of groundwater and the environment are some of the major concerns for the industry participants. Companies have been investing significantly in R&D operations to constantly upgrade their products and offer novel chemicals to the upstream sector that satisfy every aspect of environmental regulations thus enhancing the required parameters of operations.
North America is expected to be the largest market by the end of the forecast period. The U.S. market is anticipated to grow at a CAGR of around 4% from 2018 to 2026. After a short term decline in demand for these products in the country, the growing exploration and production from unconventional wells have played a major role boosting its demand again.Hydraulic fracturing is anticipated to be one of the major application segments globally. Despite the low crude prices, increase in average volume of chemicals used per well during 2017 was a primary factor driving the market.
Some of the leading industry participants currently operating in the industry include Clariant, Solvay, NALCO, Croda International Plc, Baker Hughes, Kemira, Halliburton, Schlumberger Limited, Stepan Company, Akzo Nobel N.V., The Lubrizol Corporation, BASF SE and Dow Chemical Company
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Key Segments:
- Oilfield Chemicals Market Size and Forecast by Product Type
- Key Findings
- Drilling Fluids
- Simulation Fluids
- Completion & Work over Fluids
- Cement Slurries
- Oilfield Chemicals Market Size and Forecast by Application Type
- Key Findings
- Production Chemicals
- Simulation Fluid Additives
- Drilling Fluid Additives
- Cement Additives
- EOR Products
- Completion & Workover Fluid Additives
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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The global oilfield chemicals market is anticipated to reach USD 35.08 billion by 2026 according to a new study published by Polaris Market Research.The moderate increase currently and expected boom in the near future of crude oil prices are expected to bring about increases in demand for oilfield chemicals that are used in well drilling & completion, hydraulic fracturing and EOR operations.
The revival of drilling operations in the existing wells owing to increase in crude prices to a feasible level and the rise in drilling of unconventional wells for pilot project and also for production especially in the North American and North Sea regions will add to demand for these products.
This will include the ongoing trend towards fracturing fluids for slick water and also high-performance drilling mud chemicals.Request for sample of this research report @ https://www.polarismarketresearch.com/industry-analysis/oilfield-chemicals-market/request-for-sampleDevelopment of several chemical formulations that can address environmental concerns will have an important impact on its market, promoting to added demand for high quality environmentally friendly chemicals, including less toxic biocides and biodegradable shale inhibitors.
Offshore operations are anticipated to stay vital contributor for the market globally and the necessity for environmentally compatible chemicals and fluids will be leading in the offshore environments.Projections for raw materials used for the development of oilfield chemicals are entrenched in the finished products outlook in which these are used.
Polymers and acids used in such stimulation chemicals are expected to register higher growth, driven by constant expansion of the well stimulation technologies.
However, clays along with other commodities used in the drilling fluids are anticipated to decline moderately early over the forecast period.Browse summary of this report with TOC @ https://www.polarismarketresearch.com/industry-analysis/oilfield-chemicals-marketIncreasing concerns for pollution of groundwater and the environment are some of the major concerns for the industry participants.
New York, NY 13 May 2021: The global oilfield chemicals market is anticipated to reach USD 35.08 billion by 2026 according to a new study published by Polaris Market Research.
The moderate increase currently and expected boom in the near future of crude oil prices are expected to bring about increases in demand for oilfield chemicals that are used in well drilling & completion, hydraulic fracturing and EOR operations.
The revival of drilling operations in the existing wells owing to increase in crude prices to a feasible level and the rise in drilling of unconventional wells for pilot project and also for production especially in the North American and North Sea regions will add to demand for these products.
The enhanced technologies currently utilized for developing shale gas and tight oil resources have evolved as major trend over the past years.
This will include the ongoing trend towards fracturing fluids for slick water and also high-performance drilling mud chemicals.
Development of several chemical formulations that can address environmental concerns will have an important impact on its market, promoting to added demand for high quality environmentally friendly chemicals, including less toxic biocides and biodegradable shale inhibitors.
The global fuel cell market is estimated to reach USD 13.71 billion by 2026 growing at a CAGR of 17.5% during the forecast period, according to a new study published by Polaris Market Research.
The report ‘Fuel Cell Market Share, Size, Trends, & Industry Analysis Report, By Type (Solid Oxide Fuel Cells, Phosphoric Acid Fuel Cells, Proton Exchange Membrane Fuel Cells, Molten Carbonate Fuel Cells); By Application; By Region: Segment Forecast, 2019 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends.
Growing concerns regarding environment, increasing demand for unconventional energy sources, and increasing adoption of power efficient energy systems further support the market growth.
The increasing application of fuel cells in commercial, and transportation sector further supports the market growth in the region.
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The well-known companies profiled in the report include Aisin Seiki Co. Ltd., Ceres Power Holdings PLC, Plug Power Inc., Panasonic Corporation, Ballard Power Systems, Inc., Nedstack Fuel Cell Technology, Horizon Fuel Cell Technologies, Intelligent Energy Limited, Mitsubishi Hitachi Power Systems, Ltd., and Toshiba Fuel Cell Power Systems Corporation.
Sensor Patch Market Size – USD 11.52 billion in 2018, Market Growth - CAGR of 3.5%, Market Trends – Increase in geriatric population Global Sensor Patch Market research report published by Reports and Data offers key insights into the Sensor Patch market and presents an overall evaluation of the current market scenario along with the scope.
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The report analyzes the Sensor Patch market by taking into consideration the key factors that drive or restrain the growth of the market.
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