Oilfield Chemicals Market Analysis, Size, Opportunities, Share, Growth, Trends, and Forecast 2018 - 2026

                                                                          
Oilfield chemicals are chemical compounds that are used to improve the efficacy and efficiency of oilfield activities.

          Oilfield Chemicals Market


Oilfield chemicals are chemical compounds that are used to improve the efficacy and efficiency of oilfield activities. Chemicals are used in the oilfield for a variety of operations such as production, drilling, and completion. Oilfield chemicals are also used to clean equipment, machinery, oil, and oil wells. These chemicals aid in the maintenance of a smooth-running oilfield, resulting in lower costs due to drilling delays and stoppages. These chemicals prevent the formation of metal scales and reduce the amount of water injected into oil wells during exploration and drilling, increasing the demand for and use of oilfield chemicals.

The increased demand for oilfield chemicals is being driven by the increase in oil production and exploration activities. Rapid expansion of shale oil and gas drilling and production, as well as growth in deep-water and ultra-deep-water drilling projects, are expected to boost market demand for oilfield chemicals. Oil and Natural Gas Corporation (ONGC) is expected to invest US$ 2.73 billion in drilling oil and gas wells in 2019, according to the India Brand Equity Foundation (IBEF). As the country seeks to reduce its reliance on oil imports by 10%, foreign investors are expected to have opportunities to invest in petroleum and natural gas projects worth US$ 300 billion in India by 2022. As a result, an increase in oil and gas exploration projects is expected to increase demand for oilfield chemicals.

Rising environmental concerns and crude oil price volatility are expected to stymie the growth of the Oilfield Chemicals Market. Furthermore, the emergence of environmentally friendly oilfield chemicals is expected to provide significant growth opportunities in the near future.


Market Segmentation:

By Product
  • Corrosion & Scale Inhibitors
  • Demulsifier
  • Surfactants
  • Others

By Application
  • Drilling
  • Cement
  • Stimulation
  • Production

The major players operating in the global oilfield chemicals market include, Baker Hughes Inc., Halliburton, Schlumberger Ltd., Weatherford International Ltd, Diamoco Group, Royal Dutch Shell Plc, Solvay S.A, and The Egyptian Mud Engineering & Chemicals Company.

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