The global Specialty Oilfield Chemicals market was valued at USD 11.10 billion in 2016 and is projected to reach USD 17.67 billion by 2025, growing at a CAGR of 5.3% from 2017 to 2025.
Specialty Oilfield Chemicals are compounds that are used in oilfields for special purposes such as pipelines, production, drilling and completion. The major products included under specialty oilfield chemicals are biocides, friction reducers, corrosion inhibitors and clay stabilizers.
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1. Market Drivers
1.1 Growing demand for crude oil
2. Market Restraints
2.1 Declining crude oil prices
2.2 Regional tensions in countries where oil exploration is high
The global Specialty Oilfield Chemicals market is segmented on the product, application and region.
1. By Product:
1.2 Friction Reducers
1.3 Gellants & Viscosifiers
1.4 Inhibitors & Scavengers
1.5 Rheology Modifiers
1.6 Specialty Surfactants
1.7 Pour-Point Depressants
1.8 Specialty Biocides
2. By Application:
2.1 Drilling Fluids
2.3 Well Stimulation
2.4 Comletion & Workover
2.5 Enhanced Oil Recovery
2.6 Production Chemicals
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. The DOW Chemical Company
2. BASF SE
3. Halliburton Company
4. Schlumberger Ltd.
5. Nalco Champion
7. Lubrizol Corporation
8. Stepan Company
9. Kemira OYJ
10. Baker Hughes Inc.
11. Solvay SA
12. AkzoNobel NVC
13. Albemarle Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Specialty Oilfield Chemicals market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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