A Complete Guide of Specialty Oilfield Chemicals Market{PDF Guide}
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Oilfield chemicals are chemical compounds used to improve the efficacy and efficiency of activities at an oilfield site. Chemicals used in the oilfield are used in production, drilling, completion, and a variety of other operations. Oilfield chemicals are also used to purify equipment, machineries, the oil itself, and oil sites. These chemicals aid in the maintenance of a smooth-running oilfield, resulting in lower costs due to delays and stoppages during the drilling process. These chemicals prevent the production of metal scales and minimize the amount of water injected into oil wells during exploration and drilling, resulting in increase in demand for and use of oilfield chemicals.
The increase in oil production and exploration operations drive the demand for oilfield chemicals. The demand for oilfield chemicals is expected to rise during the forecast period, due to increased oil & gas exploration and advancements in deep-water drilling operations. According to the India Brand Equity Foundation (IBEF), leading oil & gas companies in India, such as Indian Oil Co., Petronet LNG, and ONGC, announced expansion plans in the domestic oil & gas industry in February 2021 to meet global consumer demand. However, rise in environmental concerns and crude oil price volatility are expected to restrain the oilfield chemicals market growth.
Some of the Companies That are Profiled in This Reports are
Schlumberger
Halliburton
Dow
BASF
Akzonobel NV
Clariant
Nalco Champion
Lubrizol
Solvay
Albemarle
Flotek Industries
Borregaard LignoTech
Chevron Phillips
CESTC
Newpark Resources
Croda
Innospec
Calumet
Ashland
TETRA Technologies
Kemira
Huntsman
Zirax
KMCO
CNPC
CNOOC
Renzhi
Shengli
Befar Group