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Oil Field Chemicals Market Trends & Forecast to 2020

Transparency Market Research Report Added "Oil Field Chemicals Market" to its database.


Albany, NY -- (SBWIRE) -- 01/30/2015 -- The chemicals that are used in exploration and various processing stages of gas and oil field are called as oil field chemicals. The oil field chemicals demand is mainly affected by the exploration pace and advances in drilling in recent years. The major industry which guides the demand for oil field chemicals is the end-user oil and gas industry. The oil and gas industry face stringent timelines and several environmental issues. Considering these parameters the oil field chemicals play an imperative role in oil and gas industry. The oil field chemicals act in controlling the corrosion, bacterial growth, foam and wax formation. The market for oil field chemicals is currently dominated by North America, mainly due to the rapid exploration of oil fields. The others regions such as Latin America, Europe and Asia Pacific also hold considerable share in the oil field chemicals market.

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The oil field chemicals could be grouped under several groups such as drilling fluid or mud additives, cement additives, production chemicals, oil well stimulation chemicals and process chemicals. Drilling fluids perform a variety of functions that affect the drilling efficiency, the drilling rate, and the cost of drilling operations. The drilling fluids systems could be classified such as water based muds, stable foam muds and oil based muds. The oil field chemicals act as the corrosion inhibitors and help in reducing the fluid loss during operation, thus improvising the process efficiency. Cement and the cementing additives play a critical role in completion of oil and gas wells. The cementing operation completion pace is attributed to the design of cement slurry and various other aspects of different forces affecting the operation. The oil field chemicals in form of cementing additives provide free water control and gas migration control. Moreover, they also act as effective fluid loss control during the cementing operation. Production chemicals are used in maintaining the mobility of oil under extreme cold environmental conditions and to prevent corrosion of pipelines by removing any emulsified water present. Stimulation fluids are primarily used in improvising the flow of hydrocarbons, while water injection chemicals help in maintaining the required amount of pressure of reservoir and facilitate the oil recovery.

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The current market for oil field chemicals is majorly dominated by North America. The market dominance of North America is attributed to the growth in production of tar sands. Also the issue of aging wells coupled with troubles of corrosion and scale built up, will further affect the demand for oil field chemicals. As it costs more to produce oil from new sources rejuvenation of old sources will play a major contributor to the requirement of oil field chemicals. The Asia Pacific region could be a potential market as this region has shown sturdy growth for drilling and cementing operations. The Middle East countries are expected to be the greatest market in coming years as the countries are investing in the rejuvenation of old oil wells and exploring new regions for oil wells. The developing nations such as Brazil could also be a potential upcoming market for the oil field chemicals owing to recent oil discoveries in deep well drilling.

Some of the key players operating in the oil field chemicals market are companies such as Akzo Nobel, AMCOL International, Ashland Incorporated, BASF SE, Capitol Aggregates, Chemtura Corporation, Clariant International, Stepan company, Chevron Philips, Croda International, Dow Chemicals, DuPont(EI) de Nemours ,Kemira Oyj, Emery Oleochemicals, Nalco Holding, Rhodia SA, Smith International, Praxair Incorporated and Champion Technologies.

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