Global Oilfield Process Chemicals Market is Estimated to Reach $37 Billion by 2025, Says Accurize Market Research
Global Oilfield Process Chemicals Market report published by Accurize Market Research forecast that the global market is expected to reach $37 billion by 2025; growing at a CAGR of 4.5% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Rise in oil exploration & production activities and rapid expansion of shale oil & gas drilling & production across the globe to drive the growth of the market
Rise in oil exploration & production activities and rapid expansion of shale oil & gas drilling & production fuels the demand for the global oilfield process chemicals market. Furthermore, the ongoing activities to meet the global energy demand brought more petroleum crude oil wells to production state also boosts the growth of the market.
Market Segmentation
The global oilfield process chemicals market has been bifurcated on the basis of product type, function, application and geography. By product type, the market is classified into specialty chemicals, commodity chemicals and gases.Function segment include corrosion control, rheology modifiers, viscosifiers, synthetic-based muds, scale control, fluid loss control, cement retarders, bacterial control, wax and asphaltene control, hydrate control, hydrogen sulphide control, oil and water separation, foam control, maintenance & utility, shale control, acidizing, multifunctional chemicals and other chemicals. Further, application segment contain drilling, work over and completion fluids, cementing additives, stimulation and production chemicals, enhanced oil recovery and others. By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Top players in the market
The key market players include Advanced Aromatics L.P., Air Liquide, Air Products And Chemicals, Akzo Nobel, Al Sanea Chemicals, Albemarle, Anchor Drilling Fluids USA Inc, Aqua Chemicals, Ashland Aqualon Functional Ingredients, Aubin, Baker Hughes Inc. and BaritUrala, among others.
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