Global Oilfield Production Chemicals Market to Witness Relatively Faster Growth in the Latin America Regional Market During 2018 – 2028
Future Market Insights’ published market report titled “Oilfield Production Chemicals Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028” examines the oilfield production chemicals market and offers crucial market insights for the next ten years. According to Future Market Insights analysis, the global sales of oilfield production chemicals is estimated to be valued at US$ 2.4 Bn by the end of 2018 and is expected to register a 4.0% CAGR over the period of 2018–2028. This report divulges the demand for oilfield production chemicals and its break-up on the basis of different types and applications.
Oilfield Production Chemicals Market
Future Market Insights analyzes the global oilfield production chemicals market in its new...
Global Oilfield Production Chemicals Market: Dynamics
The global oilfield production chemicals market is driven by the increasing demand from the oil and gas industry. The production of crude oil in some regions has reported steady growth in the recent years and owing to this, the demand for oilfield production chemicals is expected to remain high in the near future.
The climatic conditions of crude oil producing regions are also expected to have an impact on the growth of oilfield production chemicals, such as hydrate inhibitors, in the coming years. Offshore oil production practices are expected to register steady growth, which in turn is expected to boost the sales of oilfield production chemicals such as demulsifiers in the coming years.
Moreover, crude oil manufacturers are focused on the exploration of oil and gas in order to add to the existing production capacities of crude oil. The discovery of new reserves of oil and gas is expected to drive the sales of oilfield production chemicals in the coming years.
Global Oilfield Production Chemicals Market: Segmentation Analysis
The market insights suggest that the global oilfield production chemicals market is dominated by the production methods application segment. Production methods are directly connected to the production of crude oil. Methods such as enhanced oil recovery, water injection and hydraulic fracturing used in crude oil production witness higher demand for oilfield production chemicals.
Increasing crude oil production is expected to boost production activities in oilfields, which in turn is expected to create a platform for the demand of oilfield production chemicals. The discovery of new reserves of oil is considered to be another factor responsible for the growth of oilfield production chemicals demand in the production methods application segment.
Global Oilfield Production Chemicals Market: Regional Market Projections
On the basis of region/country, the Middle East & Africa region is anticipated to dominate the global oilfield production chemicals market throughout the forecast period. The oilfield production chemicals market in the Middle East & Africa region is expected to expand with a CAGR of 3.9% during the forecast period. However, the demand in the Middle East and Africa region is met by the oilfield production chemicals manufactured in the domestic as well as the global market, which is expected to provide a lucrative opportunity for the penetration and oilfield production chemicals sales of manufacturers from other regions.
Moreover, Latin America is expected to expand with the highest CAGR in the global oilfield production chemicals market during the forecast period. Oil producing countries such as Brazil and Venezuela are expected to drive the demand for oilfield production chemicals in Latin America. North America and Eastern Europe, with their high oil production capacities, are expected to witness steady growth in sales in the coming years.
Other regions/countries such as South East Asia, Western Europe, China and India are expected to grow marginally in terms of oilfield production chemicals demand over the forecast period.
Global Oilfield Production Chemicals Market: Competitive Landscape
Some of the players reported in this study on the global oilfield production chemicals market include Baker Hughes, Ecolab Inc., Schlumberger Limited, Halliburton Company, BASF SE, Solvay SA, Akzo Nobel N.V., Clariant AG, Arkema SA, Huntsman Corporation, DowDuPont Inc., Albemarle Corporation, Weatherford International, Mazrui international LLC, Stepan Company, Hexion Inc. and Connel Bros Co. LLC, among others.
Future Market Insights analysts are available to provide more insights on the oilfield production chemicals market. Write in at firstname.lastname@example.org
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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