In a recently published report, Global Oilfield Chemicals Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Oilfield Chemicals Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Oilfield Chemicals Market valued approximately USD 20.4 billion in 2017 is anticipated to grow with a healthy growth rate of more than 6.2% over the forecast period 2018-2025. The Oilfield Chemicals Market is continuously growing across the world over the coming years. The major driving factor of global Oilfield Chemicals market are growing demand for advanced drilling fluid and shift in inclination towards exploiting the unconventional hydrocarbon resources. The major restraining factor of global oilfield chemicals are crude oil price fluctuations and increase in environment concern which negatively impact the market in upcoming years. The oilfield chemical are the chemical components which are applied in oil and gas extraction operations. The oilfield chemicals facilitate to increase the extraction operations by the improving efficiency and productivity of oil drilling process and petroleum refining with the objective to achieve optimum performance with effective oil recovery.
The regional analysis of Global Oilfield Chemicals Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to presence of huge onshore and offshore shale gas reserves in the region. Europe also contributes a satisfactory growth in the global oilfield chemicals market. Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to increase in cementing, drilling and stimulation activities.
The major market player included in this report are:
• Baker Hughes
• Schlumberger Ltd.
• Solvay S.A.
• Ecolab Inc.
• Newpark Resources Inc.
• BASF SE
• Lubrizol Corporatin
• Akzonobel NV
• Albemarle Corp
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
§ Corrosion & Scale Inhibitors
§ Gallants & Viscosifier
§ Drilling Fluids
§ Well Stimulation
§ Workover & Completion
§ Enhanced Oil Recovery
§ Production Chemicals
§ North America
§ Asia Pacific
§ Latin America
§ Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Oilfield Chemicals Market in Market Study:
§ Key Consulting Companies & Advisors
§ Large, medium-sized, and small enterprises
§ Venture capitalists
§ Value-Added Resellers (VARs)
§ Third-party knowledge providers
§ Investment bankers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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