Specialty Oilfield Chemicals Market Size 2019 Global Industry Growth, Trends, Share and Demands Research Report


Posted November 15, 2019 by Rishab

Specialty Oilfield Chemicals Market Size 2019 Global Industry Growth, Trends, Share and Demands Research Report
 
Global Specialty Oilfield Chemicals Market: Information by Application (Drilling, Cementing, Production, EOR), Type (Demulsifier, Deoiler, Biocide, Dewatering Additive, Fluid Loss Additive, Corrosion Inhibitor, Other), and Region—Forecast till 2023

Specialty Oilfield Chemicals Market Players

Some of the leading players in the global specialty oilfield chemicals market are BASF SE (Germany), Solvay (Belgium), Akzo Nobel NV (Netherlands), Huntsman International LLC (US), Thermax Global (India), Sadara (Saudi Arabia), DowDuPont (US), Shrieve (US), SMC Oilfield Chemicals (US), Roemex Limited (UK), KMCO LLC (US), Global Drilling Fluids & Chemicals Limited (India), and others.

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Specialty Oilfield Chemicals Overview

Specialty Oilfield Chemicals Market is gaining precedence across the globe as eco-awareness has started impacting sectors across verticals. The product itself can improve the efficiency of oil recovery from oil wells and reduce environmental impact in the process by a considerable margin. The global specialty oilfield chemicals market can expect robust growth during the forecast period (2018-20230 owing to its percolation in oil & gas industry due to its use in drilling, cementing, production, stimulation, and enhanced oil recovery (EOR). Market Research Future (MRFR) further enlists its use as corrosion preventives and microbial controlling substance that can trigger the market growth during the forecast period. Most of the chemicals are synthetic in origin. However, the sector is taking initiatives to turn products eco-friendly.

On the flip side, the market can witness slight slag as stringent government laws can impact the regular growth. Chemicals find it challenging to operate in the market nowadays owing to their harmful side-effects. Furthermore, natural substances are gaining traction which can dampen specialty oilfield chemical market prospect during the forecast period.

Latest Industry News

Dorf Ketal Chemicals, has announced the commencement of production of mph and milEx at its new advanced manufacturing plant in India. The new production facility is dedicated to the increasing of fuel detergents production.

Lubrizol Corporation has launched its oil-soluble rheology modifier, OILKEMIA. The product offers a variety of benefits.

Industry Trend

NuGenTec's NuFlo Flow Enhancer follows the eco-friendly regulations and is a special formulation that helps in breaking down of crude oils. It is equally effective in both light, and heavy crude oils and its performance has been tested across a wide range of temperature and pressure.

Segmentation

The global specialty oilfield chemicals market can be segmented by application and type.

Based on application, the global specialty oilfield chemicals market can be segmented into drilling, cementing, production, enhanced oil recovery (EOR), and stimulation.

Based on type, the global specialty oilfield chemicals market can be segmented into demulsifier, deoiler, biocide, fluid loss additive, corrosion inhibitor, scale inhibitor, clay stabilizer, pour point depressant, and others.

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Regional Analysis

Geographically, the specialty oilfield chemicals market spans across Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA).

North America has the largest market share and is currently, leading the pack. The region is investing heavily in the oil & gas industry owing to which specialty oilfield chemicals market is gaining much precedence. Shale gas exploration is also getting a fresh lease of life which is also triggering the market growth.

The MEA market is assuming the second position with Saudi Arabia, Kuwait, and Iran producing a substantial amount of oil and using specialty oilfield chemicals in the process. The APAC region is also showing significant progress. However, Europe and the LATAM can only expect moderate growth.

Market Insight

Tactical implementations of strategies by various companies not only ensure their respective growth but assist the market move forward. Policies such as merger, acquisition, collaboration, and other methods play crucial roles in taking the market forward by making it more competitive. For instance, the Carlyle group is planning to acquire Akzo Nobel's chemical wing which is of great importance for the market. It will change the present market dynamics and help Carlyle Group set a better portfolio for themselves.
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Tags specialty oilfield chemicals market , specialty oilfield chemicals market 2019 , specialty oilfield chemicals market share , specialty oilfield chemicals market 2023 , specialty oilfield chemicals market size
Last Updated November 15, 2019