Global Specialty Oilfield Chemicals Market Share, Upcoming Trends, Size, Key Segments, Growth Status and Forecast 2031

Kenneth Research recently added a report on the Global Specialty Oilfield Chemicals Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.

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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.

The global Specialty Oilfield Chemicals market was valued at USD 11.10 billion in 2016 and is projected to reach USD 17.67 billion by 2025, growing at a CAGR of 5.3% from 2017 to 2025.
Specialty Oilfield Chemicals are compounds that are used in oilfields for special purposes such as pipelines, production, drilling and completion. The major products included under specialty oilfield chemicals are biocides, friction reducers, corrosion inhibitors and clay stabilizers.

Sample Infographics:

Market Dynamics:
1. Market Drivers
1.1 Growing demand for crude oil
2. Market Restraints
2.1 Declining crude oil prices
2.2 Regional tensions in countries where oil exploration is high

Market Segmentation:
The global Specialty Oilfield Chemicals market is segmented on the product, application and region.
1. By Product:
1.1 Demulsifiers
1.2 Friction Reducers
1.3 Gellants & Viscosifiers
1.4 Inhibitors & Scavengers
1.5 Rheology Modifiers
1.6 Specialty Surfactants
1.7 Pour-Point Depressants
1.8 Specialty Biocides
1.9 Others

2. By Application:
2.1 Drilling Fluids
2.2 Cementing
2.3 Well Stimulation
2.4 Comletion & Workover
2.5 Enhanced Oil Recovery
2.6 Production Chemicals
2.7 Others

3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. The DOW Chemical Company
2. BASF SE
3. Halliburton Company
4. Schlumberger Ltd.
5. Nalco Champion
6. Clariant
7. Lubrizol Corporation
8. Stepan Company
9. Kemira OYJ
10. Baker Hughes Inc.
11. Solvay SA
12. AkzoNobel NVC
13. Albemarle Corporation

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Specialty Oilfield Chemicals market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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