Specialty Oilfield Chemicals are chemicals which
help to enhance the efficiency of oil recovery. These specialty chemicals have
its effect only when they are present in the oilfield process and after
removal, their properties decline. Thus it has to be added periodically or
continuously as per the requirement across the oil production. These chemicals
basically help enhance the recovery of hydrocarbons from the well.
According to
IndustryARC, the Specialty Oilfield Chemicals Market is projected to rise at a
CAGR 4.5% during the forecast period 2015-2020. Various categories of
specialty oilfield chemicals include corrosion inhibitors, scale inhibitors,
biocides, demulsifies, pour-point depressants, surfactants, and advanced
polymers.
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MARKET TRENDS & GROWTH:
Specialty Oilfield Chemicals Market is attaining enormous growth
owing to the rising demand of oilfield applications such as drilling,
production, fracturing, completion, stimulation, packer fluids and others.
Others include cementing, transportation, remediation, blending. Drilling and
production applications account for the major demand for specialty chemicals in
oilfield. Corrosion Inhibitors, Demulsifiers and Surfactants are the major and
key chemicals used across oilfield operation accounted for more than a whopping
60% of the global market.
Geography wise, North
America is the major market in terms of consumption, accounted for 58.5% of the
global market. Aggressive oil wells shutdown in North America in 2015 to have
high impact on oilfield chemicals market, but is estimated to recover slowly in
future. Middle East & Africa projected to grow at a high CAGR of 8.9%
during the forecast period, due to their continuous expansion in production in
order to capture the global market and lead the U.S. With the current decline
in oil prices, the drilling and stimulation activities are growing at a slow
pace across APAC and North America which acts as a major restraining factor of
the market.
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MARKET REPORT SCOPE:
Market Segmentation:
Being a compact market, the specialty oilfield chemicals
market is classified into just 3 types based on the following factors:
1.
By Type: Corrosion and Scale Inhibitors,
Biocides, Demulsifiers and Others.
2.
By Application: Drilling, Production,
Fracturing, Stimulation and Others.
3.
By Geography: North America, Europe, APAC and
ROW.
Key Market Players:
Few notable key players of this market mentioned in this
report are:
·
BASF SE
·
Dow Chemical Company
·
Specialty Oilfield Solutions, LLC
·
Evonik Industries AG
·
Stepan Company
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Source and By Geography - Forecast (2015 – 2020)
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