Market Forecast and Overview:
Market Research Future published a Half- Cooked Research Report on Oil Field Chemicals Market. The Global Oil Field Chemicals Market is expected to grow with the CAGR of about 5% from 2016 to 2022Being an essential for the drilling and exploration activities the Oilfields Chemicals market is heavily dependent on the Oil and Gas industry. Increasing demand for oil and gas is expected to result in a rise in demand for the Oil Field Chemicals market. In recent times the oil and gas has been experiencing a significant downturn due to the continuous fall in the prices.
Increasing demand for oil and gas is expected to result in a rise in demand for the Oil Field Chemicals market. In recent times the oil and gas has been experiencing a significant downturn due to the continuous fall in the prices. These changes in the supply and demand dynamics is expected to induce a rise in the number of oil wells thus resulting in boosting the Oil Field Chemicals market. Increasing demand for oil and gas is also expected to fuel the demand in the Oil Field Chemicals market.
Key Companies in Market:
This report includes the product portfolios, developments of leading major players such as:
- BASF SE (Germany)
- Lubrizol Corporation (U.S.)
- AkzoNobel N.V. (Netherlands)
- The Dow Chemical Company (U.S.)
- Halliburton (U.S.)
- Kemira Oyj (Finland)
- Clariant (Switzerland)
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Drilling Chemicals held the Major Share within the Global Oil Field Chemicals Market
The changes in the supply and demand dynamics is expected to induce a rise in the number of oil wells thus resulting in boosting the Oil Field Chemicals market. Increasing demand for oil and gas is also expected to fuel the demand in the Oil Field Chemicals market. Considering the oil and gas industry is recovering from the recent price crisis, the growth in the oil and gas industry is imminent which would result in a complimentary increase in the demand in the Oilfield Services Market.
North America is the leading region for this market mainly due to the increased exploration activities in USA and Canada. The increasing exploration activities in this region have in turn resulted in an increase in the Oilfield Chemicals market. Although there exists political instability in the Middle East, this region is expected to register high growth rate in the forecast period due to increasing trend of deep water exploration and working in high temperatures which require much more expensive Oilfield Chemicals.
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The Oilfield Chemicals market has been segmented as follows:
- On the basis of Material the market has been segmented as Specialty Chemicals, Commodity Vehicles, and Polymers
- On the basis of Application the market has been segmented as Production chemicals, Drilling fluid Chemicals, Stimulation Fluid Additives.
- On the basis of Fluid Type the market has been segmented as drilling, completion, stimulation.
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