Pune, India, July 30, 2019 (GLOBE NEWSWIRE) -- Market Insights:
The focus on oil recovery has increased considerably, which is expected to provide an optimistic outlook for the growth of the Global Specialty Oilfield Chemicals Market. Market reports associated with exploration and power industry have been available by Market Research Future, which outlines that the Global Specialty Oilfield Chemicals Market is expected to surge favorably at a higher CAGR during the forecast period till 2023. Specialty Oilfield Chemicals are usually used to improve the efficiency of oil recovery from oil wells and reduce the environmental impact of the recovery process.
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Market Players:
BASF SE (Germany), Solvay (Belgium), Akzo Nobel NV (Netherlands), Huntsman International LLC (US), Thermax Global (India), Sadara (Saudi Arabia), DowDuPont (US), Shrieve (US), SMC Oilfield Chemicals (US), Roemex Limited (UK), KMCO LLC (US), and Global Drilling Fluids & Chemicals Limited (India) are some of the foremost players in the Global Specialty Oilfield Chemicals Market.
Market Drivers & Trends:
The ability to drill, cementing, production, stimulation, and recovery, the Specialty Oilfield Chemicals are heavily used in significant industries. These factors are expected to increase the growth of the Global Specialty Oilfield Chemicals Market over the forecast period. Speedily prevention of wax formation in oil, oil-water emulsion, and scaling and the ability to remove corrosion of pipe walls are expected to provide an array of opportunities for the expansion of the market.
Moreover, some prime applications of specialty oilfield chemicals for drilling fluids, fluid loss control additives, gas blocking additives, de-oiler, and cement retarders are the factors that are contributing to gain traction for the Global Specialty Oilfield Chemicals over the assessment period. Additionally, the progress in specialty oil chemicals for flocculants and coagulants in process water, waste oil, and oil sludge treatment is also anticipated to provide an extra edge to the Global Specialty Oilfield Chemicals Market.
Browse the market data and information spread across 100 pages with 36 data tables and 12 figures of the report “Specialty Oilfield Chemicals Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/specialty-oilfield-chemicals-market-6307
Market Segmentation:
Market Research Future’s study suggests that the Global Specialty Oilfield Chemicals Market has been segmented into various categories, which is according to the Application and Type.
By Application: Drilling, cementing, production, enhanced oil recovery (EOR), and stimulation are the segments.
By Type: de-emulsifier, de-oiler, biocide, fluid loss additive, corrosion inhibitor, scale inhibitor, clay stabilizer, pour point depressant, and others are the segments.
Regional Outlook:
Regionally, the Global Specialty Oilfield Chemicals Market has covered the prime regions of Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
It has been noted that North America accounted for the most significant share if the Global Specialty Oilfield Chemicals Market in 2017, which was due to the increased use of chemicals in the oil & gas industry.
The Middle East & Africa, together with the Asia Pacific, are the other significant markets for Specialty Oilfield Chemicals owing to the increased product demand in major oil-producing countries such as Saudi Arabia, Iran, and Kuwait. Whereas, in Europe and Latin America are expected to witness moderate growth during the assessment period.
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