Oilfield Production Chemicals Market to Rear Excessive Growth During 2018-2026

Market Introduction

Oilfield production chemicals are used in the upstream sector of oilfield which includes various operations like exploration of crude oil under the earth crust or under water and drilling wells to extract the oil beneath the ground or water. Oilfield production chemicals are used in oilfield as well as other industrial sectors for applications like reducing pour point, to reduce corrosion rate of oil, gas or water, to prevent scale formation in pipelines of oil in order to allow free flow of oil and gases, separation of oil and water using demulsifiers, clarifiers and defoamers, lubricants for reducing the friction between the pipe surface and the solids in mud, removal of hydrogen sulphide (H2S) gas to increase the service life of system, gel breakers to reduce the viscosity of the fluids and biocides to keep the growth of bacteria in control. Oilfield production chemicals are used to reduce the operational risks involved in drilling operations. The oilfield production chemicals help to reduce any harm to the environment reducing the impact of the hazard causing agent without altering the performance of the system. The oilfield production chemicals are also used in other upstream operations on oilfield like cementing and stimulation processes.

Market Dynamics

The increasing oil demand and its subsequent production at refineries has been the key driver in the oilfield production chemicals. The new advancements in exploration techniques like hydraulic fracturing will help in growth of oilfield production chemicals market. The growth in production of oil and natural gas will increase the demand of oilfield production chemicals. The exploitation of the existing oilfield reserves will benefit the growth of market of oilfield production chemicals. The availability of new oilfield production chemicals with same functional properties for oilfield in different areas will help in growth of the market of oilfield production chemicals. The political instabilities in some regions can obstruct the production of oil and thus, affect the oilfield production chemicals market for a certain period of time. The continuous decline in oil prices can be a barrier for growth of oilfield production chemicals up to a certain extent. The laws imposed by government on use of certain chemicals for protection of environment may limit the growth of market of some oilfield production chemicals.

Market Segmentation

The oilfield production chemicals can be segmented in the market as:  Emulsion Breakers – Biocides.,Defoamers.,Water Clarifiers.,Antiscalants.,Corrosion Inhibitors.,Coagulants & Flocculants.,Oxygen and H2S Scavengers.,Lubricants.,Gel Breakers.

Regional Outlook

The North American region is a prominent oil producer with unconventional activities of oil and gas which may enable the oilfield production chemicals to have growth in their market. Few Latin American regions in spite of having abundant number of oil reserves will be unable to help in growth of the oilfield production chemicals market due to decreasing oil production in last few years. While Brazil’s increased the oil production in recent years will help growth of the market of oilfield production chemicals. The Middle Eastern and African region consisting more than half of world oil reserves and moderately increasing production will be a good platform for the growth of market of oilfield production chemicals. The European oil and natural gas production may have a good impact on market of oilfield production chemicals with their moderate oil production growth rate. The Asia and Pacific oil and natural gas market is also expected to grow in near future while providing a good growth for market of oilfield production chemicals. Reduction in China’s oil production in recent years will be a barrier to the growth of the market of oilfield production chemicals.

Key Participants

Below are some of the key market players in oilfield production chemicals: Baker Hughes Incorporated.,BASF SE.,The Dow Chemical Company.,Schlumberger Limited.,Unibrom Corp Pte. Ltd,Proec Energy Limited.,Hindusthan M-I SWACO.,Genoa International LLC.,Arrow Solution.,Allied Oilfield and Marine Equipment Trading Ltd.

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