Published by Coherent Market Insights
Posted on September 29, 2021
Oilfield Chemicals Market components that are majorly used in oil & gas extraction operations are called as oilfield chemicals. Oilfield chemicals find applications in cementing, enhanced oil recovery, drilling fluids, well stimulation, production chemicals, and workover & completion.
Oil, which is produced in the oilfield usually contains large amount of water that gets mixed with the oil through oil drilling process or naturally, especially in offshore drilling and wells. It is important to separate the oil from the water so as to purify it, as well as to reduce the corrosion of the containers ferrying the oil and pipelines. Among the applications, demulsifiers are used for this purpose in the oilfield. Demulsifiers are used to reduce the density of the oil, causing easier separation of the two chemicals, while at the same time reducing the corrosion of pipelines that might lead to higher maintenance costs of equipment.
Top Key Players in Oilfield Chemicals market: Baker, Hughes, Inc., Halliburton, Schlumberger, Ltd., Weatherford, International, Ltd, Diamoco, Group, Royal, Dutch, Shell, Plc, Solvay, S.A, and, The, Egyptian, Mud, Engineering, &, Chemicals, Company.
Regional Analysis For Oilfield Chemicals Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Oilfield Chemicals market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
Rise in oil production and exploration activities is generating the need for oilfield chemicals. Rapid expansion of shale oil & gas drilling & production and growth in deep-water & ultra-deep-water drilling projects is further expected to boost the market demand for oilfield chemicals. According to India Brand Equity Foundation (IBEF), Oil and Natural Gas Corporation (ONGC) is expected to invest US$ 2.73 billion on drilling oil and gas wells in 2019. As the country looks to cut reliance on oil imports by 10 per cent, it is expected that foreign investors will have opportunities to invest in petroleum and natural gas projects worth US$ 300 billion in India by 2022. Therefore, significant increase in oil and gas exploration project is expected to boost the demand for oilfield chemicals during the forecast period.
Oilfield chemicals find application in water treatment process. As population is growing, current water supply has to satisfy increasing demands. Hence, chemical industry uses innovative ways of water treatment, in order to make water acceptable for end-use, such as industrial, cooking, irrigation, and drinking purpose. For instance, according to the article, ‘Treated wastewater use in Saudi Arabia: challenges and initiatives’ published by International Journal of Water Resources Development in December 2015, Saudi Arabia set the goal to achieve 100% use of treated wastewater by 2025 and it is projected that around 6.8 million m3 per day of treated wastewater will be available for use in Saudi Arabia by 2035. Therefore, increasing number of water treatment projects is expected to boost the demand for oilfield chemicals during the forecast period.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Oilfield Chemicals market Size, Share & Trends Analysis Report 2020-2027 appeared first on Gatorledger.
Oilfield Chemicals Market components that are majorly used in oil & gas extraction operations are called as oilfield chemicals. Oilfield chemicals find applications in cementing, enhanced oil recovery, drilling fluids, well stimulation, production chemicals, and workover & completion.
Oil, which is produced in the oilfield usually contains large amount of water that gets mixed with the oil through oil drilling process or naturally, especially in offshore drilling and wells. It is important to separate the oil from the water so as to purify it, as well as to reduce the corrosion of the containers ferrying the oil and pipelines. Among the applications, demulsifiers are used for this purpose in the oilfield. Demulsifiers are used to reduce the density of the oil, causing easier separation of the two chemicals, while at the same time reducing the corrosion of pipelines that might lead to higher maintenance costs of equipment.
Top Key Players in Oilfield Chemicals market: Baker, Hughes, Inc., Halliburton, Schlumberger, Ltd., Weatherford, International, Ltd, Diamoco, Group, Royal, Dutch, Shell, Plc, Solvay, S.A, and, The, Egyptian, Mud, Engineering, &, Chemicals, Company.
Regional Analysis For Oilfield Chemicals Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Oilfield Chemicals market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
Rise in oil production and exploration activities is generating the need for oilfield chemicals. Rapid expansion of shale oil & gas drilling & production and growth in deep-water & ultra-deep-water drilling projects is further expected to boost the market demand for oilfield chemicals. According to India Brand Equity Foundation (IBEF), Oil and Natural Gas Corporation (ONGC) is expected to invest US$ 2.73 billion on drilling oil and gas wells in 2019. As the country looks to cut reliance on oil imports by 10 per cent, it is expected that foreign investors will have opportunities to invest in petroleum and natural gas projects worth US$ 300 billion in India by 2022. Therefore, significant increase in oil and gas exploration project is expected to boost the demand for oilfield chemicals during the forecast period.
Oilfield chemicals find application in water treatment process. As population is growing, current water supply has to satisfy increasing demands. Hence, chemical industry uses innovative ways of water treatment, in order to make water acceptable for end-use, such as industrial, cooking, irrigation, and drinking purpose. For instance, according to the article, ‘Treated wastewater use in Saudi Arabia: challenges and initiatives’ published by International Journal of Water Resources Development in December 2015, Saudi Arabia set the goal to achieve 100% use of treated wastewater by 2025 and it is projected that around 6.8 million m3 per day of treated wastewater will be available for use in Saudi Arabia by 2035. Therefore, increasing number of water treatment projects is expected to boost the demand for oilfield chemicals during the forecast period.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Oilfield Chemicals market Size, Share & Trends Analysis Report 2020-2027 appeared first on Gatorledger.
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