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Shibuya-ku, Tokyo, Japan, Japan, Sep 02, 2022, 07:06 /Comserve / -- The specialty oilfield chemicals market is projected to grow from USD 11.36 billion in 2022 to USD 13.88 billion by 2031, at a CAGR of 4.1% from 2022 to 2031.
“The Specialty Oilfield Chemicals Market is projected to grow at a CAGR of 4.1% from 2022 to 2031.”
The specialty oilfield chemicals market is projected to grow from USD 11.36 billion in 2022 to USD 13.88 billion by 2031, at a CAGR of 4.1% from 2022 to 2031.
Specialty oilfield chemicals are used in oilfield operations in various applications such as production, well stimulation, drilling fluids, workover & completion, Enhanced Oil Recovery (EOR), and cementing. These chemicals are used to increase the overall productivity of oilfields. The demand for specialty oilfield chemicals is influenced by various factors such as the increasing production of crude oil, the location of oil reservoirs and the depth of drilling, availability of oil reservoirs, government policies that regulate oil exploration and production, and trade-offs among various chemical compounds.
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However, the declining prices of crude oil and ongoing geopolitical issues in some regions restrain the growth of the specialty oilfield chemicals market.
“Among types, the demulsifiers segment is estimated to account for the largest share of the specialty oilfield chemicals market in 2022, in terms of value.”
The demulsifiers type segment is expected to lead the specialty oilfield chemicals market in 2022, in terms of value. Specialty oilfield chemicals are composed of synthetic and natural polymers. The chemistry of each type of chemical is different and changes according to the type of wellbore. For the optimum performance and efficiency of a particular oilfield, it is necessary to maximize the recovery of oil & gas from the oilfield in a cost-effective manner while balancing the adverse impact of this recovery on the environment. Demulsifiers are the most necessary chemicals used in oilfields since they perform the basic function of separating oil from water. Emulsions are unique and hence, separating them from a mixture is a very complex task. Even emulsions from a single source vary over the time. Therefore, demulsifiers are normally formulated on a case-to-case basis in the oilfield itself
“The North America specialty oilfield chemicals market is projected to grow at the highest CAGR during the forecast period, in terms of value.”
The North America specialty oilfield chemicals market is projected to grow at the highest CAGR from 2022 to 2031, in terms of value.
The US is witnessing increased demand for specialty oilfield chemicals, which is projected to continue in the future as well. Moreover, there is a significant increase in the use of specialty oilfield chemicals in various applications such as drilling fluids, cementing, well stimulation, and production. The increasing consumption of the well stimulation chemicals has a significant impact on the exploration activities of shale oil & gas in the North American region. This trend is expected to continue due to the discovery of new reserves of shale gas in the region, thereby leading to continued shale gas exploration and production activities in the North American region. The demand for specialty oilfield chemicals in the North American region is influenced by different factors such as increasing production of crude oil in the region. The region is estimated to account for the largest consumption of specialty oilfield chemicals, owing to increased oil production and exploration activities, which have significantly increased in the last five years.
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Breakdown of the profiles of primary interviews for the report on the specialty oilfield chemicals market is as follows:
• By Company Type – Tier 1 – 45%, Tier 2 –22%, and Tier 3 – 33%
• By Designation – C Level – 50%, Director Level – 10%, and Others – 40%
• By Region – North America – 28%, Europe – 18%, Asia Pacific – 18%, Middle East & Africa – 18%, FSU– 9%, and South America – 9%
Some of the key companies profiled in this report are BASF (Germany), Ecolab (US), Clariant (US), DowDuPont (US), and Solvay (Belgium), among others.
Research Coverage:
The report covers the specialty oilfield chemicals market and the use of these chemicals in different applications across different regions. It aims at estimating the size of the specialty oilfield chemicals market in 2022 and forecasting the future growth potential of the market across different segments. The report also includes an in-depth competitive analysis of the key market players, along with their profiles, recent developments undertaken by them, and key growth strategies adopted by them.
Key benefits of buying the report
From an insight perspective, this research report has been focusing on various levels of analysis, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the specialty oilfield chemicals market, high-growth regions, and drivers, restraints, opportunities, and challenges for the specialty oilfield chemicals market.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on specialty oilfield chemicals offered by the top players operating in the market
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the specialty oilfield chemicals market
• Market Development: Comprehensive information about lucrative and emerging markets. The report analyzes markets for specialty oilfield chemicals in different regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the specialty oilfield chemicals market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the specialty oilfield chemicals market
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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