Future research Insights released a research analysis named oilfield production chemicals market 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 essential molecules used in the oil and gas industry to improve production and efficiency. These chemicals aid in the reduction of operational issues such as corrosion, scale, and wax deposition, ensuring the smooth extraction and processing of hydrocarbons. Because they eliminate dangers and maximize productivity, oilfield production chemicals are crucial to the success of oilfield operations.
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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.
According to Future Market Insights analysis, the global sales of oilfield production chemicals is estimated to be valued at US$ 3,021.8 Million by the end of 2022 and are expected to register a 4.0% CAGR over the period of 2022–2028. This report divulges the demand for oilfield production chemicals and its break-up on the basis of different types and applications.
In the coming years, the climatic conditions of crude oil-producing locations are projected to have an impact on the expansion of oilfield production chemicals such as hydrate inhibitors. Offshore oil production methods are predicted to increase steadily, which will improve sales of oilfield production chemicals such as demulsifiers in the next 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.
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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 market 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
About Future Market Insights (FMI)
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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