Oilfield Chemicals Market Growth Study, Application Outlook & End-user Analysis Report

Felton, Calif., USA, Mar. 24, 2021 — /EPR Network/ —

The global Oilfield Chemicals Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global Oilfield Chemicals Market is estimated to touch US$ 28.48 Billion by the completion of the year 2025. The growing demand for crude oil is expected to navigate the progress of the chemicals business above the period of prediction. The market is expected to develop by the CAGR of 4.3%.

Key Players:

• BASF SE
• Dow Chemical Company
• The Lubrizol Corporation
• Akzo Nobel N.V.
• Stepan Company
• Schlumberger Limited
• Halliburton
• Kemira
• Clariant
• Nalco
• Solvay
• Baker Hughes

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Growth Drivers:

The market is motivated by the growth in oil exploration & production actions, which sequentially upsurges the necessity for oilfield chemicals. Furthermore, the continuing actions to fulfil the universal demand for the energy, carried more crude oil wells and the production all over the world. It upsurges demand for the chemicals. However, price variation of crude oil and surge in conservational anxieties are likely to impede the progress of the market in the nearby future. The arrival of ecological responsive oilfield chemicals is likely to deliver a considerable opening for the progress in the near future.

Product Outlook:

• Inhibitors
• Demulsifiers
• Rheology Modifiers
• Friction Reducers
• Biocides
• Surfactants
• Foamers

Application Outlook:

• Drilling
• Production
• Cementing
• Workover & completion

Location Outlook:

• Onshore
• Offshore

Regional Outlook:

By the source of geography, North America is the most important area in the Oilfield Chemicals market. North America appeared by way of the biggest customer of oilfield chemicals and the provincial business was appreciated above US$ 6.80 billion in the year 2016 and is expected to observe stable development above the following eight years. The demand for inhibitor formulations in the U.S. was appreciated by US$ 910.8 billion in the year 2016 and is anticipated to develop by a CAGR of 4.5% above the period of prediction.

Asia Pacific is expected to appear as the speedily developing provincial section; thanks to the fact that it will be responsible for the grabbing more than 17% stake of the complete profits by the completion of year 2025.The area of Middle East & Africa is likely to observe a sturdy development by a CAGR of 4.5% for the duration of prediction.

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