Future research Insights released a research analysis named oilfield production chemicals industry Global Industry Analysis 2017 – 2021 and Opportunity Assessment 2022 – 2028 that studies the oilfield production chemicals market and provides critical market insights for the next ten years.
Oilfield production chemicals are critical compounds used in the oil and gas sector to increase output and efficiency. These compounds help to reduce operational difficulties including corrosion, scale, and wax deposition, ensuring smooth hydrocarbon extraction and processing. Oilfield production chemicals are critical to the performance of oilfield operations because they remove hazards and maximize productivity.
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The growing demand from the oil and gas industry drives the global oilfield production chemicals market. Crude oil output in some places has increased steadily in recent years, and as a result, demand for oilfield production chemicals is projected to stay high in the foreseeable future.
According to Future Market Insights, global sales of oilfield production chemicals are predicted to reach US$ 3,021.8 million by the end of 2022, growing at a 4.0% CAGR between 2022 and 2028. This paper details the demand for oilfield production chemicals and how it differs by kind and application.
The climatic conditions of crude oil-producing regions are expected to have an impact on the expansion of oilfield production chemicals such as hydrate inhibitors in the next years. Offshore oil production methods are expected to grow steadily in the coming years, increasing sales of oilfield production chemicals such as demulsifiers.
Furthermore, crude oil producers are focusing on oil and gas exploration in order to increase crude oil production capacity. The discovery of new oil and gas reserves is likely to boost sales of oilfield production chemicals in the future 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.
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Global Oilfield Production Chemicals Market: Competitive Landscape
Some of the players reported in this study on the global oilfield production chemicals industry include
- Arkema S.A
- Clariant AG
- BASF SE
- Halliburton Co.
- Albemarle Corporation Company
- Huntsman Corporation
- ECOLAB Inc.
- Solvay S.A.
Key Segmentation
By Type:
- Demulsifiers
- Corrosion Inhibitors
- Paraffin Inhibitors
- Biocides
- Hydrate Inhibitors
- H2S Scavengers
- Scale Inhibitors
- Others
By Application:
- Production Methods
- Storage & Transportation
- Safe Disposal ges
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- India
- Japan
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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