Market Scenario

Increasing demand for oil and gas is expected to result in a rise in demand for the Oil Field Chemicals market. In recent times the oil and gas has been experiencing a significant downturn due to the continuous fall in the prices. These changes in the supply and demand dynamics is expected to induce a rise in the number of oil wells thus resulting in boosting the Oil Field Chemicals market. Increasing demand for oil and gas is also expected to fuel the demand in the Oil Field Chemicals market.

Thus the Oilfield Chemicals Market is expected to register a high growth at a rate of around 5%.

A Sample Of This Report Is Available Upon Request @ https://www.marketresearchfuture.com/sample_request/1755

Global Oil Field Chemicals Market – Competitive Analysis

The market appears to be reasonably stable as far as eyes can see however a fierce competition will resurge replacing the stability and prompting to the players operating in the market to take up M&A activities, collaboration, contracts, agreements, and partnerships to churn the market competition.

Key Players:

The Global Oil Field Chemicals Market is driven by some of the leading players operating in the market including BASF SE, AkzoNobel N.V., The Dow Chemical Company (US), Clariant (Switzerland), Kemira Oyj (Finland), Schlumberger (US), Halliburton (US), and Lubrizol Corporation (US).

Global Oil Field Chemicals Market – Segments

The MRFR analysis is segmented into four key dynamics for the convenience of understanding:-

By Material : Comprises Commodity Vehicles, Polymers and Specialty Chemicals among others.

By Application : Drilling Fluid Chemicals, Production Chemicals, and Stimulation Fluid Additives among others.

By Fluid Type : Drilling, Completion, and Stimulation among others.

By Region : North America, Europe, APAC and Rest of the World.

Worldwide Oil Field Chemicals Market – Geographical Analysis

North America holds the hegemony of this market owing to the augmented exploration activities in the USA and Canada which are increasing the demand for oilfield chemicals and hence its market value.

The Middle East region despite the ongoing political instability will perceive a substantial growth rate attributing to the unfavorable geological conditions (extreme heat/cold) that demand more advanced & expensive oilfield chemicals.

Whereas in India, government’s support and the decision to auction Govt. owned 69 inactive O&G fields to private companies on a new revenue-sharing contract is projected to fuel O&G exploration activities increasing the oilfield Chemicals market growth.

View Report Preview@ https://www.marketresearchfuture.com/reports/oil-field-chemicals-market-1755

Industry/ Innovation/ Related News:

January 29, 2018 – Exxon Mobil Corporation (US), a global O&G Company, announced its plans to pump up USD 50 billion’s investments over the next five years, in view with the recent tax deduction by the US governments. The company also mentioned its plans to increase the daily production at the Permian Basin, Southwest USat a rate of 600,000 barrels a day.

January 15, 2018 –Exxon Mobil Corporation (US) announced discovering the Hydrocarbons reserves during an onshore drilling at P’nyang (South-2 well), Western Province of Papua New Guinea. The company expects that; the recent discovery will add value to its growth combining with the InterOil Corporation acquisition, and increased assessed reserves in the existing PNG LNG project.

January 10, 2018 – SNC Lavalin (US) announced that it has been awarded an exclusive agreement for rending its engineering services to a downstream petro-chemical and refining company in the US Gulf Coast. The agreement approximately values USD 100M.