Oilfield chemicals are specialty chemicals employed to enhance certain properties and functionalities of oil wells or reservoirs. Several services performed on oilfields rely on specialty fluids and additives.
Albany, NY -- (SBWIRE) -- 10/01/2018 -- Ever increasing crude oil production has resulted in a rise of operations such as drilling, cementing, and production. Thus, the demand for drilling fluids, cementing fluids, production chemicals, and other oilfield chemicals is estimated to increase with rise in crude oil production. Rise in the identification of unconventional oilfields worldwide is likely to push the global market for oilfield chemicals forwards in the near future.
Revenue earned from the oilfield chemicals market are estimated to grow at a CAGR of more than 7.0% through 2026. Insights such as these have been taken from the report titled "Oilfield Chemicals Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" added recently to the massive repository of Market Research Reports Search Engine (MRRSE).
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North America followed by Asia Pacific and Europe continues to be the strongest regional leader in the oilfields chemicals market owing to significant rise in investments for unconventional drilling activities and fast identification of shale gas fields, which result in the demand for oilfield chemicals in the region.
Oilfield chemicals are usually hazardous or toxic in nature and have potential to severely pollute the environment, affect plants and animals, and also pose risks to human health if handled or disposed inappropriately. This is considered to be the major constraining factor on the growth of the oilfield chemicals market for the foreseeable future.
Oilfield Chemicals Market: Report Summary
This report contains a complete analysis and forecast at a regional and global level for the oilfield chemicals market, in terms of value (US$ Mn) and volume (Kilo Tons), for the period of forecast 2018 to 2026. Important business dynamics, such as economic, social, technological and political factors impacting development and requirement for oilfield chemicals have been examined in depth in the report.
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An extensive analysis on the oilfield chemicals industry has been offered in this report, and the Porter's Five Forces model has been effectively been utilized to help in readers to gain a better understanding about the competitive scenario among major market players. A complete market attractiveness and price analysis of each player has been incorporated in the report, where applications have been accurately assessed on the basis of their general attractiveness, growth rate, and market size. Key players have been assessed on the basis of SWOT analysis, company portfolio, relevant recent developments, and business strategies.
Oilfield Chemicals Market: Research Methodology
Elaborate discussions and interviews have been conducted with a number of eminent industry experts and opinion leaders during the compilation of this report. Detailed primary and secondary research has been conducted, to extract reliable insights on the oilfield chemicals market. Primary research comprises a large part of the research efforts, which is supplemented and validated by extensive, secondary research.
Key market players in the oilfield chemicals market have been studied closely, and relevant data has been extracted from numerous data sources such as annual reports, press releases, and other relevant documents for better understanding of the market's competitor landscape. The research approach is found to be highly efficient and successful in extracting useful insights on market data, industry players, and new business opportunities.
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