Global Oilfield Process Chemicals Market 2017-2021

Overview of the global oilfield process chemicals market

Research analysis on the oilfield process chemicals market identifies that the increased demand for drilling chemicals will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 5% by 2021. There is a rising focus on the exploration of new reserves to cater to the growing energy requirements. This in turn will fuel the need for drilling chemicals. The increasing number of deep-water detections in Pacific and Persian Gulf and the rising number of participants will intensify the energy demand, in turn, increasing the demand for drilling chemicals. Moreover, heavy investments by the key players in onshore and offshore drilling projects and the rise in drilling activities in countries such as Russia and China, and the rise in number of exploration activities in Europe and APAC, will also increase the demand for drilling chemicals. This will in turn, drive the growth of the oilfield process chemicals market during the forecast period.

The increasing demand for novel chemical products is one of the key trends that will gain traction in the oilfield process chemicals market. The oil and gas industry is constantly inducing oilfield chemical manufacturers to come up with new products to cater to a wide range of challenges based on quality, pumpability, reliability, deliverability, and environmental compliance. This compels players in the market to increasingly engage in R&D activities to bring novel products such as water-based drilling fluids. Moreover, the popularity of nanotechnology is also expected to make a significant impact on the development of eco-friendly and biodegradable drilling fluids.

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Technavio's industry research report titled, - Global Oilfield Process Chemicals Market, will help you-

• Identify latent opportunities and explorative solutions in the oilfield process chemicals market
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, all permutations and combinations inclusive

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Competitive landscape and key vendors  

The oilfield process chemicals market consists of numerous players operating their businesses at both global and regional levels. The established players hold the maximum shares and offer a wide range of oilfield process chemicals that are suitable for different operations such as drilling, cementing, completion, and production.

The leading vendors in the market are -

• Baker Hughes
• BASF
• Halliburton
• Schlumberger
• The Dow Chemical company

The other prominent vendors in the market are Akzo Nobel, Albemarle, Ashland, CES Energy Solutions, Chemex, Chevron Phillips Chemical Company, Clariant,Dorf Ketal, DuPont, Ecolab, Gulf Coast Chemical, Huntsman International, Lamberti, Newpark Resources, SICHEM, Solvay, Stepan, and Lubrizol.

Segmentation by product type and analysis of the oilfield process chemicals market

• Drilling chemicals
• Stimulation chemicals
• Production chemicals
• Cementing chemicals
• Workover and completion chemicals
• Enhanced oil recovery chemicals

During 2016, the drilling chemicals segment accounted for the major shares of the oilfield process chemicals market. Benefits such as the lubrication of drill bit that reduces the friction between the drilling string and borders of the drill hole will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the oilfield process chemicals market

• APAC
• Europe
• North America
• ROW

This market study estimates that in terms of geographic regions, North America will be the major revenue contributor to the oilfield process chemicals market throughout the forecast period. The rising number of aging wells and the availability of a huge market for oilfield process chemicals, will drive the growth of this market in North America.

Key questions answered in the report include

• What will the oilfield process chemicals market size and the growth rate be in 2021?
• What are the key factors driving the global oilfield process chemicals market?
• What are the key oilfield process chemicals market trends impacting the growth of the market?
• What are the challenges to market growth?
• Who are the key vendors in the global oilfield process chemicals market?
• What are the market opportunities and threats faced by the vendors in the global oilfield process chemicals market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global oilfield process chemicals market?

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