The Oil Field Chemicals Market has been segmented on the basis of material 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.
Regional Analysis of Oil Field Chemicals:
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.
Some of the key players in the Oil Field Chemicals market are BASF SE (Germany), Lubrizol Corporation (U.S.),AkzoNobel N.V. (Netherlands), The Dow Chemical Company (U.S.), Schlumberger, Halliburton (U.S.), Kemira Oyj (Finland) and Clariant (Switzerland) among others.
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Oil Field Chemicals manufacturing companies
Oil Field Chemicals service providers
Oil & Gas industry Consultants and Investment bankers
Government as well as Independent Regulatory Authorities
Global Oil Field Chemicals Market – Segments
The MRFR analysis is segmented into four key dynamics for the convenience of understanding:-
By Material: Comprises Commodity Vehicles, Polymers and Specialty Chemicals among others.
By Application: Drilling Fluid Chemicals, Production Chemicals, and Stimulation Fluid Additives among others.
By Fluid Type: Drilling, Completion, and Stimulation among others.
By Region: North America, Europe, APAC and Rest of the World.
Worldwide Oil Field Chemicals Market – Geographical Analysis
North America holds the hegemony of this market owing to the augmented exploration activities in the USA and Canada which are increasing the demand for oilfield chemicals and hence its market value.
The Middle East region despite the ongoing political instability will perceive a substantial growth rate attributing to the unfavorable geological conditions (extreme heat/cold) that demand more advanced & expensive oilfield chemicals.
Whereas in India, government’s support and the decision to auction Govt. owned 69 inactive O&G fields to private companies on a new revenue-sharing contract is projected to fuel O&G exploration activities increasing the oilfield Chemicals market growth.
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