Oilfield Chemicals Market by Product and by Region – Global Opportunities & Forecast, 2020–2027

Oilfield Chemicals Market

Global oilfield chemicals market is projected to expand at an annual rate of 5.2% from 2017 to 2023. The market is guided by a number of factors, such as growing production and exploration of shale gas and the increasing demand for petroleum-based fuel from the transportation sector.

Request a free sample of Oilfield Chemicals Market

Oilfield Chemicals Market Dynamics

The surge in upgraded oil recovery activities is a standalone force proliferating the growth of the global oilfield chemicals market. Also, the surging demand for crude oil products and the increasing inclination of producers to develop high-quality oilfield chemicals will strengthen the market growth. The rising production of oil and natural gas guided by the growing demand primarily in the emerging countries has elevated the market size. In parallel, the oilfield chemicals market research report projects that the intensified research activities attributed to new oil and natural gas reserves with the augmenting production of crude oil and a drift towards standby drilling operations are other factors projected to contribute to market growth. With the surge in drilling, completion, and production activities, the market has grown substantially. However, the sudden fall in the oil prices may restrain the oilfield chemicals market size.

Product Segment Drivers

Based on the product, the biocides are projected to expand at a noteworthy rate over the forecast period. The surging deployment of this product across the offshore actions will strengthen the market size. As per the oilfield chemicals market analysis, the biocides prevent the instruments in the offshore oil and gas applications and enhance the operational efficiency by restraining the corrosion induced by microbial.

Application Segment Drivers

By application, the workover & completion segment is likely to witness a significant surge over the coming years. This is attributed to the rising application of oilfield chemicals. As per the oilfield chemicals market research report, the capability to intensify the recovery of oil & gas and the potency of the reservoir at a cost-efficient price is strengthening the market growth.

Location Segment Drivers

On the basis of location, the onshore segment is expected to seize a prominent share in the overall market. This is because of the increasing usage of oilfield chemicals in this location led by the prevalence of conventional forms of operations in this location that certifies the ongoing demand for the products at this location.

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

For more info:

Water Enhancers Market

Rare Earth Metals Market

Waste Recycling Market

Folinic Acid Market

Specialty Chemicals Market

Thermoplastic Pipe Market

 

 

Comments

Post a Comment

Popular posts from this blog

Managed Print Services Market Size, Share, & Growth Analysis - 2020-2027

Image
  Managed Print Services Market The Managed Print Services Market is estimated to reach USD 70 billion by 2027, growing at a CAGR of 8.2% over the forecast period (2020-2027). The factors driving the growth of Managed Print Services Market includes digital transformation across the industry verticals such as Banking, Financial Services, and Insurance (BFSI), Healthcare and Telecommunication, emerging need to reduce paper wastage and growing trend of Bring Your-Own Device (BYOD). According to the report published by Environmental Paper Network, the consumption of paper worldwide has drastically increased by 400% over the last four decades, on an average a citizen in the United States uses more than 700 pounds of paper every year, which will boost the Managed Print Services Market Growth in the approaching years. Moreover, the growing adoption of Cloud Computing and Big Data Analytics by the major organizations, increasing investments by the leading players on research and development
Read more

Crypto Asset Management Market size, share & Trends Forecast 2028

Image
  The Crypto Asset Management Market was estimated around USD 315 million in 2020 and is predicted to grow at a CAGR of 21.1%, over the forecast period (2021-2028). The factors driving growth of the market includes rise in the number of institutional investors and wealth managers investing first time in crypto currency, surge in the volumes of online transactions around the world, emerging need to secure cryptocurrency assets, Government initiatives promoting digitalization and improvements in the living standards. Cryptocurrency asset management platforms allow investors to manage different wallets in one spot, simplifies the management of the developing crypto asset for seasoned traders, and helps users to increase their portfolio, are some of the features pushing the Crypto Asset Management Market size . Moreover, increasing adoption of cryptocurrency across industry verticals such as Healthcare, Retail and Commerce, BSFI, advancements in Internet of Things (IoT) and Artificial Inte
Read more

Liquefied petroleum gas Market Size, Share, Growth 2027

Image
  Liquefied Petroleum Gas Market The Liquefied Petroleum Gas Market is expected to grow at a faster CAGR over the forecast period (2020-2027). The factors driving the growth of Liquefied Petroleum Gas Market includes increasing use of liquefied petroleum gas as a substitute to fossil fuels, growing demand for natural gas and oil around the world and rising awareness amongst consumers about the benefits of liquefied petroleum gas. According to the report published by Statista, the Global Oil and Gas Storage Market was estimated around USD 929 million in 2019 and is expected to reach more than USD 1 billion by the end of 2026, which will boost the Global Liquefied Petroleum Gas Market in the approaching years. Moreover, growing emphasis on using cleaner sources of energy, increasing application of liquefied petroleum gas in households and restaurants for cooking and heating food and strict regulations imposed by Government reduce the carbon emission levels, are some of the additional fa
Read more