Jul 25, 2020   SOURCE: PR NewsWire

Global Oilfield Chemicals market is expected to reach $32.18 billion by 2027

GAITHERSBURG, Md., July 25, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Oilfield Chemicals Market is accounted for $19.74 billion in 2019 and is expected to reach $32.18 billion by 2027 growing at a CAGR of 6.3% during the forecast period.

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Some of the key players profiled in the Oilfield Chemicals Market include Baker Hughes, Schlumberger Limited, Halliburton, Solvay S.A, Ecolab Inc, Newpark Resources Inc, BASF SE, Lubrizol Corporation, Akzonobel NV, Albemarle Corp, E I Dupont, Clariant AG, and Stepan Company.

Growth in oil exploration & production activities and the emergence of eco-friendly oilfield chemicals are the major factors propelling market growth. However, crude oil price fluctuations and an increase in environmental concerns are hampering the market growth.

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Oilfield chemicals are chemical components that are applied in oil & gas extraction operations. These are used in good drilling and production facilities to enhance the extraction operations by improving productivity & efficiency of the oil drilling process & petroleum refining and to achieve optimum performance with effective oil recovery. These chemicals facilitate the maintenance of smooth operating oilfield, which result in the reduction of expenses over delays and stoppages during drilling processes. These chemicals impede the formation of the metal scales and reduce the water quantity into the oil well during exploration & drilling, which results in rising demand and applications of oilfield chemicals.

Based on the application, the upstream segment is going to have a lucrative growth during the forecast period owing to increasing deep & ultra-deep drilling activities. Moreover, well stimulations & enhanced oil recovery are further expected to witness high gains to the oilfield chemicals market over the forecast period.

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By geography, North America is going to have a lucrative growth during the forecast period due to the owing to the growth in oil gas activities with the advancement in hydraulic fracturing and drilling processes. Moreover, technological advancement and the rise in drilling activities are expected to increase the demand for oilfield chemicals shortly. The U.S. dominated the North America oilfield chemicals market, followed by Canada.

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Locations Covered:

    --  Onshore

    --  Offshore

Types Covered:

    --  Biocides
    --  Friction Reducers
    --  Demulsifiers
    --  Surfactants
    --  Polymers
    --  Gellants & Viscosifiers
    --  Pour-Point Depressants
    --  Inhibitors & Scavengers
    --  Rheology Modifiers
    --  Foamers

Applications Covered:

    --  Upstream
    --  Downstream

Regions Covered:

    --  North America
        --  US
        --  Canada
    --  Mexico
        --  Europe
        --  Germany
        --  France
        --  Italy
        --  UK
        --  Spain
        --  Rest of Europe
    --  Asia Pacific
        --  Japan
        --  China
        --  India
        --  Australia
        --  New Zealand
        --  South Korea
        --  Rest of Asia Pacific
    --  South America
        --  Argentina
        --  Brazil
        --  Chile
        --  Rest of South America
    --  Middle East & Africa
        --  Saudi Arabia
        --  UAE
        --  Qatar
        --  South Africa
        --  Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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About Stratistics MRC
We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services, and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.

Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.

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Organization: Stratistics Market Research Consulting Pvt Ltd
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SOURCE Stratistics Market Research Consulting Pvt Ltd