Expanding shale gas ventures coupled with high consumer demand for energy particularly from Asian regions has facilitated growth in the market for speciality chemicals

Date: 7 March 2016

According to recently published Azoth Analytics report “Global Oilfield Specialty Chemical Market: Trends, Opportunities and Forecasts (2016-2021) – By Type-Inhibitors, Demulsifiers, Biocides, Surfactants; By Application-Drilling, Cementing, Stimulation, EOR; By Region- N. America, S. America, Middle-East & Africa, Europe, APAC, ROW”, Global Market for Speciality Chemicals is forecast to grow at a CAGR of approximately 3.79% during 2016 – 2021, on account of increased activities in exploration and production in the oil and gas sector along with rise in unconventional hydrocarbon recovery methods. Rise in Capital Intensive developments in unconventional sources, and the shale revolution in North America has further accelerated various speciality chemicals related operations in the oil and gas production projects.
Decline in crude oil prices and global economic slowdown has presented fresh challenges to the Specialty Chemicals Market in Oil and Gas industry. This would cause the Oilfield Specialty Market to rise at a slow pace during 2016E – 2021F owing to the lesser number of E&P spending in the region while USA captured the North American Region dominantly. 

Brazil’s Oilfield Specialty Chemical Market size has increased steadily in the South America Region in 2016 – 2021. Saudi Arabia is the most promising nation for the production chemical market, while China & India are expected to drive the Asia Pacific market of speciality chemicals owing to their high demand for energy. 

With the high demand for energy in the American and Asian regions, there has been an increase in exploration activities leading to growth in the market for speciality chemicals. The report speaks about the offshore and onshore allocation of the market share wherein recent rise in the offshore explorations would drive the market in the offshore oil and gas industry. The percentage share of the offshore market is anticipated to rise until the year 2021. Increase in oil & gas production and higher advancements in speciality chemicals technologies have also contributed to the growth of Speciality Chemicals market.

In terms of segmentation, market is categorized By Application (Well Intervention, Drilling Services & Well Completion) and By Location of Application (Offshore & Onshore). North America, South America, Middle East, Europe/Africa/Russia and Asia Pacific are being covered in the Regional segmentation.

According to recently published Azoth Analytics report “Global Oilfield Specialty Chemical Market: Trends, Opportunities and Forecasts (2016-2021) – By Type-Inhibitors, Demulsifiers, Biocides, Surfactants; By Application-Drilling, Cementing, Stimulation, EOR; By Region- N. America, S. America, Middle-East & Africa, Europe, APAC, ROW” report has analysed the potential of Speciality Chemical market and provides statistics and information on market size, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the market entry strategies for various companies, emerging trends along with major drivers, challenges and opportunities in the Global Oil and Gas Specialty Chemical Market.
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