Oilfield Chemicals Market Size to Witness Exponential Growth USD 35.06 Billion By 2026

23/ago/2019 09:29:28 Polaris Market Research Contatta l'autore

New York, NY 23 August 2019: The global  oilfield chemicals market  is anticipated to reach USD 35.08 billion by 2026 published by Polaris Market Research.

The moderate increase is currently expected The revival of drilling operations in the existing well-to-be to increase in raw prices to a feasible level . The enhanced technologies currently used for developing shale gas and tight oil resources have evolved as major trends over the past years. This will include the ongoing trend towards fracturing fluids for slick water and also high-performance drilling mud chemicals.

Development of several chemical formulations that can address environmental concerns, its impact on its market, including less toxic biocides and biodegradable shale inhibitors. Offshore operations are anticipated to stay vital contributors to global market and environmental necessities for environmentally compatible chemicals and fluids.

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In these these are used. Polymers and Acids Used in Such Stimulation Chemicals However, clays along with other commodities are anticipated to decline moderately early in the forecast period.

Increased concern for the environment of the participant. Companies have been investing significantly in R&D operations to constantly upgrade their products and offer novel chemicals to the upstream

 North America is expected to be the largest market by the end of the forecast period. The US market is anticipated to grow at CAGR of around 4% from 2018 to 2026. .Hydraulic fracturing is anticipated to be one of the major application segments globally. Despite the low crude prices, increase in average volume of chemicals used during 2017 was a primary factor driving the market.

Some of the leading industry participants currently operating in the industry include Clariant, Solvay, NALCO, Croda International Plc, Baker Hughes, Kemira, Halliburton, Schlumberger Limited, Stepan Company, Akzo Nobel NV, The Lubrizol Corporation, BASF SE and Dow Chemical Company

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