Oil Field Equipment Market

25 Feb


Oil Field Equipment Market Poised to Grow at a CAGR of 3.7% by 2024

  • By admin

  • January, 1970

Infinium Global Research has added a new report on Oil Field Chemicals Market. The report presents analysis of global as well as regional markets of oil field chemicals market over the period of 2016 to 2024. Oilfield chemicals are used in the production of oil, well stimulation, drilling fluids, Enhanced Oil Recovery (EOR), and cementing applications in the upstream oil & gas industry. Oil chemicals are used in drilling and exploration of gas and oil to improve the efficiency and productivity of the oil drilling process. For instance, oil field chemicals are used for protecting the equipment and pipes from corrosion and for separating oil and water from the oil that usually forms an emulsion. Chemicals are used to separate oil and water in the oilfield. Hence, these oilfield chemicals are very are very important in the oil field since they help to protect the pipelines, containers, and equipment from damage, corrosion, and leaking of the oil. These chemicals include common inorganic salts, transition metal compounds, common organic chemicals and solvents, water-soluble and oil-soluble polymers, and surfactants. As existing fields become depleted, use of chemistry to maintain production via well stimulation, more efficient secondary recovery operations, and enhanced oil recovery become ever more important

Increase in the production of crude oil coupled with increasing demand from enhanced oil recovery applications are the factors driving the growth of the oilfield chemicals market. In addition, demand for advanced drilling fluids, growth in deep-water & ultra-deep-water drilling projects and rapid expansion of shale oil & gas drilling & production are triggering the growth of the oilfield chemicals market. However, cost of oil production level and Chemical regulations are dynamic and are constantly changing as per the compliance requirements. Hence, changing rules and regulations are restraining the market growth of the oilfield chemicals market during the forecast period. Furthermore, the occurrence of eco-friendly oil chemicals has opened several doors of opportunity for the oilfield chemicals market over the upcoming years. Discovery of new oilfields has created a positive impact on the key players in the oilfield chemicals market among the geographies, North America dominated the oilfield chemicals market. The growth in the North America region can be attributed presence of several oilfield chemical companies in this region. In addition, expansion of shale oil and gas industries in the U.S is the key factor dominating to drive oilfield chemicals market in North America. On the other hand, Asia Pacific is anticipated to witness the fastest growth due to the increased government spending in China to meet energy demands. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global oil field chemicals market  but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.



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The recent report identified that North America dominated the global oil field chemicals market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the oil field chemicals market worldwide.

The report segments the global oil field chemicals market on the basis of Chemical Types and Applications.


Global Oil Field Chemicals Market by Chemical Types

·         Polymer

·         Demulsifier

·         Corrosion & Scale Inhibitor

·         Biocide

·         Surfactant

·         Other Chemicals


Global Oil Field Chemicals Market by Applications

·         Drilling 

·         Cementing

·         Well Stimulation

·         Enhanced Oil Recovery

·         Production

·         Work Over & Completion


Companies Profiled in the Report

·         BASF SE

·         Lubrizol Corporation

·         Dow Chemical Co.

·         Stepan Company

·         Halliburton

·         Schlumberger

·         Baker Huges

·          Canadian Energy Services & Technology Corporation

·         AES Drilling Fluids

·         Akzo Nobel NV


About Infinium Global Research

Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.

Infinium Global Research reports and consulting services cover numerous sectors, which include healthcare, chemicals, materials, energy, packaged goods, food and beverages, technology, and communications. These reports provide readers with market insights and detailed analysis of market segments to possible micro levels. Our reports, with stratified research methodology and wider scope of analysis, provide clients with crucial insights and information to meet their every requirement.