IMARC Group, a leading market research company, has recently releases report titled “Oilfield Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global oilfield chemicals market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Oilfield Chemicals Market?

The global oilfield chemicals market size reached US$ 23.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

Oilfield chemicals comprise suspension, specialty biocides, demulsifiers, fillers, clay control, polymers, rheology chemicals, pour point depressants, and surface modifiers. They restrict abrasive materials and reduce friction between metals by providing lubrication. They prevent unwanted microbial growth in oil and gas pipelines and assist in maintaining a smooth workflow and reducing costs. As they also aid in enhancing the efficiency of activities at an oilfield area, the demand for oilfield chemicals is increasing across the globe.      

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What are the growth prospects and trends in the oilfield chemicals industry?

At present, the rising number of oil production and exploration activities around the world represents one of the key factors supporting the growth of the market. Besides this, the increasing emergence of eco-friendly oilfield chemicals that reduce emissions in the environment is impelling the growth of the market.

Additionally, the rising utilization of oilfield chemicals in numerous water treatment projects to provide clean water across the globe is offering a lucrative growth opportunity to industry players. Moreover, the increasing demand for oilfield chemicals, as they prevent the production of metal scales and minimize the amount of water injected is bolstering the growth of the market.

Furthermore, governing agencies of various countries are improving the oil and gas infrastructure worldwide, which, in turn, is propelling the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

• Inhibitors

• Demulsifiers

• Rheology Modifiers

• Friction Reducers

• Biocides

• Surfactants

• Foamers

• Others

Breakup by Location:

• Onshore

• Offshore

Breakup by Application:

• Drilling Fluid

• Production Chemicals

• Cementing

• Workover and Completion

Breakup by Region:

• North America: (United States, Canada)

• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America: (Brazil, Mexico, Others)

• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

Albemarle Corporation, Ashland, Baker Hughes Company, BASF SE, CES Energy Solutions Corp., ChampionX Corporation, Chevron Phillips Chemical Company, Clariant AG, Halliburton, Huntsman International LLC, Kemira Oyj, Stepan Company, The Dow Chemical Company, The Lubrizol Corporation

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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