The global oilfield chemical market is valued at $ 466.7 million in 2016 and is expected to grow by +5% to $ 599 million from 2017 to 2023. Oilfield chemistry is a chemical component that is applied to oil and gas extraction operations. It is used in well drilling and production facilities to improve the productivity and efficiency of oil drilling processes and petroleum refining to improve extraction operations and achieve optimal performance with effective oil recovery. This chemical facilitates the maintenance of a smooth operating oil field, reducing the cost of delays and stops during the drilling process. These chemicals interfere with the formation of metal scales and reduce the amount of oil in the wells during exploration and drilling, which increases the demand and application of genetic chemicals.
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For competitor segment, the report includes global key players of Oilfield Cementing Chemicals as well as some small players. At least 13 companies are included:
* Nalco Champion
* Baker Hughes
For complete companies list, please ask for sample pages.
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The market leads to an increase in oil exploration and production activities, which leads to the need for oilfield chemicals, the demand for advanced drilling fluids, growth in deep and deep drilling projects, and the rapid expansion of gas drilling and production of shale oil. Moreover, ongoing activities to meet global energy demand have resulted in more production crude oil wells produced worldwide, which has increased demand for oilfield chemicals. However, changes in crude oil prices and environmental problems are expected to hinder market growth in the near future. The advent of environmentally friendly genetic chemistry is expected to provide substantial growth opportunities in the near future.
The study objectives are:
To analyze and research the global Oilfield Cementing Chemicals status and future forecast, involving capacity, production, value, consumption, growth rate (CAGR), market share, historical and forecast.
To present the key Oilfield Cementing Chemicals manufacturers, capacity, production, revenue, market share, and recent development for key players.
To split the breakdown data by regions, type, companies and applications.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
In this study, the years considered to estimate the market size of Oilfield Cementing Chemicals are as follows:
History Year: 2014-2019
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
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