Dublin, June 12, 2018 (GLOBE NEWSWIRE) -- The "Specialty Oilfield Chemicals Market by Type (Demulsifiers, Inhibitors & Scavengers, Friction Reducers, Rheology Modifiers), Application (Production, Drilling Fluids, Well Stimulation, EOR), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The specialty oilfield chemicals market is projected to grow from USD 11.36 billion in 2018 to USD 13.88 billion by 2023, at a CAGR of 4.1% from 2018 to 2023.
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. However, the declining prices of crude oil and ongoing geopolitical issues in some regions restrain the growth of the specialty oilfield chemicals market.
The demulsifiers type segment is expected to lead the specialty oilfield chemicals market in 2018, 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 from 2018 to 2023, 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.
Some of the key companies profiled in this report are BASF (Germany), Ecolab (US), Clariant (US), DowDuPont (US), and Solvay (Belgium), among others. Key Topics Covered:
1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Attractive Opportunities in the Specialty Oilfield Chemicals Market 4.2 Specialty Oilfield Chemicals Market, By Type 4.3 Specialty Oilfield Chemicals Market in North America, By Application and Country 4.4 Specialty Oilfield Chemicals Market, Developed vs Developing Economies 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Crude Oil Production 5.2.2 Restraints 5.2.2.1 Declining Crude Oil Prices 5.2.2.2 Geopolitical Issues in the Middle East 5.2.3 Opportunities 5.2.3.1 Discovery of New Oilfields 5.2.4 Challenges 5.2.4.1 Stringent Environmental Regulations 5.3 Porter's Five Forces Analysis 5.3.1 Bargaining Power of Suppliers 5.3.2 Threat of New Entrants 5.3.3 Threat of Substitutes 5.3.4 Bargaining Power of Buyers 5.3.5 Intensity of Competitive Rivalry 5.4 Macroeconomic Indicators 5.4.1 Introduction 5.4.2 Trends and Forecasts of GDP 5.4.3 Trends of Production & Drilling 5.4.3.1 Oil Production (Thousand Barrels Daily) 5.4.3.2 Oil & Gas Wells Drilled, By Region 6 Specialty Oilfield Chemicals Market, By Type 6.1 Introduction 6.2 Demulsifiers 6.3 Inhibitors & Scavengers 6.4 Rheology Modifiers 6.5 Friction Reducers 6.6 Specialty Biocides 6.7 Specialty Surfactants 6.8 Pour Point Depressants 6.9 Others 7 Specialty Oilfield Chemicals Market, By Application 7.1 Introduction 7.2 Production 7.3 Well Stimulation 7.4 Drilling Fluids 7.5 Enhanced Oil Recovery (EOR) 7.6 Cementing 7.7 Workover & Completion 8 Specialty Oilfield Chemicals Market, By Region 9 Competitive Landscape 9.1 Overview 9.2 Market Ranking Analysis 9.3 Competitive Scenario 9.3.1 Expansions 9.3.2 Acquisitions 9.3.3 Agreements & Joint Ventures 9.3.4 New Product Launches 10 Company Profiles 10.1 BASF 10.2 Ecolab 10.3 Clariant 10.4 Dowdupont 10.5 Solvay 10.6 Schlumberger 10.7 Akzonobel 10.8 Halliburton 10.9 Baker Hughes 10.10 Kemira 10.11 Additional Company Profiles 10.11.1 Huntsman 10.11.2 Croda 10.11.3 Albemarle 10.11.4 Chevron Philips Chemical Company 10.11.5 Innospec 10.11.6 National Oilwell Varco 10.11.7 Geo Specialty Chemicals 10.11.8 Kraton 10.11.9 Thermax 10.11.10 Oleon 10.11.11 RoEmex 10.11.12 Ashland 10.11.13 Purechem Energy Services 10.11.14 Stepan Company 10.11.15 Elementis
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