Market Insights
Specialty oilfield chemicals are commonly used to recover oil and reduce environmental impact in the process efficiently. The global Specialty Oilfield Chemicals Market Size is poised to experience growth at a significant pace during the forecast period from 2022 to 2028. Market Research Future has made this projection among others in its newest report on the subject.
Used during production, enhanced oil recovery, drilling, and other oil & gas activities, specialty oilfield chemicals are also used to prevent wax formation in oil, and for the scaling and reduced corrosion of pipe walls. Many other applications for these chemicals exist in the oil & gas industry. The broad scope of application and variety of chemicals used for various necessary purposes drives market growth considerably. Moreover, the high demand for energy and fuel is growing continuously with the population. Several industries are growing at a swift pace and often require oil & gas. For instance the high demand for fuel from consumers who are increasingly buying automotive vehicles. Research and innovation to ensure a reduced negative impact of oil & gas activities on the environment are likely to reveal key market opportunities in the coming years.
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Market Segmentation
MRFR's report segments the market on the basis of application, type, and region. By application, the market is segmented into cementing, drilling, production, enhanced oil recovery, and stimulation. Among these segments, the enhanced oil recovery segment accounts for well over a third of the market share.
By type, the market is segmented into demulsifier, deoiler, biocide, fluid loss additive, corrosion inhibitor, sale inhibitor, clay stabilizer, pour point depressant, and others.
Global analysis of the market divides the market in to key regions which include North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific.
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Regional Analysis
North America accounts for the largest share of the global specialty oilfield chemicals market. The region is significant for its demand of oil & gas as well as growing oil & gas pipeline projects. It has been observed that the North American regional market has an increased demand for specialty oilfield chemicals due to their extensive use. Stringent environmental regulations regarding the reduction of the impact caused by oil & gas activities are key in the increased use of these chemicals as well as the ongoing research and development on the part of the market players in the region.
The Middle East & Africa is another substantial market for the region largely due to the presence of major oil producing countries in the Middle Eastern region. The increasing product demand for specialty oilfield chemicals in major oil producing countries such as Iran, Kuwait, and the Kingdom of Saudi Arabia have contributed to the regions status as the second largest market in the global specialty oilfield chemicals market. Asia Pacific also has increasing demand for oilfield chemicals, while Europe and Latin America are expected to display moderate growth during the forecast period.
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Key Players
Noted players in the market that have been recorded in MRFR’s competitive analysis include KMCO LLC, Sadara, Thermax Global, Akzo Nobel NV, Global Drilling Fluids & Chemicals Limited, Huntsman International LLC, DowDuPont, Roemex Limited, Solvay, SMC Oilfield Chemicals, Shrieve, and BASF SE. These market players employ product launches, expansion and various other market strategies to secure their market position whilst creating new opportunities.
Latest Industry News
- Dorf Ketal Chemicals, has announced the commencement of production of mph and milEx at its new advanced manufacturing plant in India. The new production facility is dedicated to the increasing of fuel detergents production.
- Lubrizol Corporation has launched its oil-soluble rheology modifier, OILKEMIA. The product offers a variety of benefits.
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Market SegmentationThe global specialty oilfield chemicals market has been categorized based on application, type, and region.By application, the global specialty oilfield chemicals market has been divided into drilling, cementing, production, enhanced oil recovery (EOR), and stimulation.According to type of chemical, the global specialty oilfield chemicals market has been segmented into demulsifier, deoiler, biocide, dewatering additive, fluid loss additive, corrosion inhibitor, scale inhibitor, clay stabilizer, pour point depressant, lubricant, paraffin control agent, and others.Regional AnalysisThe global specialty oilfield chemicals market size has been classified into five key regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
In 2017, North America captured the largest share of the global specialty oilfield chemicals market owing to the increased need for effective and economical oil extraction process and technological advances in the oil & gas industry.
The markets in Latin America and Europe are expected to gain significance during the forecast period due to the broad investment potential and growth opportunities in the oil & gas industry.Competitive AnalysisThe key players in the global specialty oilfield chemicals market are BASF SE (Germany), Solvay (Belgium), Akzo Nobel NV (Netherlands), Huntsman International LLC (US), Thermax Global (India), Sadara (Saudi Arabia), SMC Oilfield Chemicals (US), Roemex Limited (UK), KMCO LLC (US), Catalyst (India), and Global Drilling Fluids & Chemicals Limited (India).Market OverviewThe chemicals used to improve the efficiency of oil recovery from oil wells and reduce the environmental impact during the process are referred to as specialty oilfield chemicals.
These chemicals find application in the oil & gas industry during drilling, cementing, production, stimulation, and enhanced oil recovery (EOR).
These chemicals are used in applications such as drilling, cementing, production, EOR, and stimulation.
EOR maximizes the use of the existing infrastructure and increases the efficiency of oil production.
The Global Specialty Oilfield Chemicals Market Research Report by Reports and Data provides an in-depth and extensive analysis of the overall market structure along with projected forecasts to 2027.
The Specialty Oilfield Chemicals market report provides the readers deep insights and statistical details about the industry in terms of demand and supply, cost structure, threats and challenges, product type, key market players, technological advancements, regions, and applications.This is the most recent report, covering the current economic situation after the COVID-19 outbreak.
Current scenario of the ever-evolving business sector and present and future assessment of the effects are covered in this report.Avail a Sample to know more about the complete Report @ https://www.reportsanddata.com/sample-enquiry-form/2040The researchers and analysts have generated and collected useful information through extensive research methodologies and tools that deliver the latest Specialty Oilfield Chemicals market patterns and industry trends.
This report identifies the rapidly-evolving and competitive landscape of the industry as well.It also analyzes the most recent developments while estimating the growth of the key market players like BASF SE, Solvay, Akzo Nobel NV, Huntsman International LLC, Thermax Global, Sadara, Global Drilling Fluids & Chemicals Limited, Roemex Limited, Schlumberger, Ashland Inc.Segmentation by Product –DemulsifierDeoilerBiocideFluid Loss AdditiveCorrosion and Scale InhibitorsClay StabilizerPour Point DepressantOthersSegmentation by Application –DrillingCementingProductionEnhanced Oil RecoveryWell StimulationRegional Analysis:North AmericaEurope Asia-PacificLatin AmericaMiddle East and AfricaMarket Segments: The global Specialty Oilfield Chemicals market is bifurcated based on the types of product, application, and region.
This helps the readers identify the high-growth prospects of the global Specialty Oilfield Chemicals market and understand how the leading segments would grow during the forecast period.Click here to avail the report at an unbelievable discount rate: https://www.reportsanddata.com/discount-enquiry-form/2040What is the regional structure of the market?
The Specialty Oilfield Chemicals market report analyzes the footprint of every product and its significance and examines each geographical segment of the market with import, export, consumption, and production in these regions to deliver in-depth insights of the Specialty Oilfield Chemicals marketBasic information about market share held by the different regions has been given in the report.
