Jersey City, New Jersey, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Specialty Oilfield Chemicals Market” By Product Type (Demulsifiers, Inhibitors & Scavengers, Rheology Modifiers, And Others), By Application (Production, Well Stimulation, Drilling Fluids, Enhanced Oil Recovery, And Others), and By Geography.
As per the deep research carried out by Verified Market Research, the global Specialty Oilfield Chemicals Market size was valued at USD 10.6 Billion in 2020 and is projected to reach USD 13.8 Billion by 2028, growing at a CAGR of 3.3% from 2021 to 2028.
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Browse in-depth TOC on “Specialty Oilfield Chemicals Market”
202 - Pages
126 – Tables
37 – Figures
Global Specialty Oilfield Chemicals Market Overview
Specialty oilfield chemicals are chemicals used to improve oil recovery from oil wells. The primary purpose of specialty oilfield chemicals is to improve oil well recovery. These chemicals are used in the oil recovery processes of drilling, exploration, production, and maintenance. It has a wide range of applications, including foam control agents, emulsifying agents, friction reduction agents, dispersing agents, and many others. Specialty chemicals are also used for specific purposes throughout the production line of an oilfield, such as water, waste oil, and sludge treatment. Natural-based chemicals, such as guar gum, are more expensive and have a seasonal supply. Furthermore, farmers and governments around the world prefer food crops over such cash crops due to lingering food security concerns among the world's rapidly growing population.
The global Specialty Oilfield Chemicals Market is primarily driven by the high demand for energy production. Oil is the primary fuel source for most industrial and domestic activities around the world. Furthermore, a recent surge in shale gas innovation in North America, combined with rising global energy demand, is one of the critical factors expected to drive market growth over the forecast period. The majority of countries are concentrating on extracting more oil from existing and new reserves. As a result, global crude oil production is increasing at a faster rate. The Middle East region's increased oil production is expected to drive up demand for specialty oilfield chemicals.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Specialty Oilfield Chemicals Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Key Players
The “Global Specialty Oilfield Chemicals Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are BASF, Clariant, Ecolab, DowDuPont, Schlumberger, Solvay, AkzoNobel, Halliburton, Baker Hughes, and Kemira.
Based on the research, Verified Market Research has segmented the global Specialty Oilfield Chemicals Market into Product Type, Application and Geography.
- Specialty Oilfield Chemicals Market, by Product Type
- Demulsifiers
- Inhibitors & Scavengers
- Rheology Modifiers
- Others
- Specialty Oilfield Chemicals Market, by Application
- Production
- Well Stimulation
- Drilling Fluids
- Enhanced Oil Recovery
- Others
- Specialty Oilfield Chemicals Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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