Oilfield Stimulation Chemicals Market
Date: 8/10/2015 The Market Size Of Oilfield Stimulation Chemicals Is Projected To Reach $2.97 Billion By 2020, Signifying A Firm Annualized Growth Rate Of 10.1% Between 2015 And 2020. Oilfield stimulation is the process undertaken for the recovery and improving the flow of hydrocarbons from drilling well. With the development of new technologies and innovative chemicals, stimulation has now become an easy process. Oilfield stimulation chemicals find majority of its applications in hydraulic fracturing, matrix acidulation, acid fracking, and other processes. These processes include steam injection, CO2 injection, and so on. Oilfield stimulation chemicals can be classified into gelling agents, friction reducers, surfactants, corrosion & scale inhibitors, acids, and others such as biocides and cross linkers. North America is projected to remain the largest regional market for oilfield chemicals, globally. However, the Asia-Pacific region, led by China, is likely to overtake North America as the fastest-growing market. China’s massive demand for energy will continue to drive the country’s exploration activities and development of its huge unconventional energy resource, especially natural gas. Among the various important product types of oilfield stimulation chemicals, gelling agents dominated the market with 34% in terms of value of the total oilfield stimulation chemicals market share in 2014. Surfactants are another key product segment, which is projected to grow significantly between 2015 and 2020. Other product types of oilfield stimulation chemicals, such as friction reducers, corrosion & scale inhibitors, and others, are also projected to grow at a considerable rate in the near future. The leading players of the oilfield stimulation chemicals market include BASF SE (Germany), Chevron Philips (U.S.), E.I. Dupont(U.S.), Clariant AG, Dow Chemical (U.S.) and Ashland Inc. (U.S.). Clariant Oil Services, a business unit of Clariant International Ltd., adopted the strategy of launching new products that include a full line of corrosion inhibitors, hydrogen sulfide scavengers, degreasers, dispersants, surfactants, pipeline cleaners, and hydrostatic testing applications. The company developed and introduced this new portfolio to meet the midstream segment's increasing demands and growing challenges in the oil & gas industry.Rise in the number of deep drilling activities and crude oil production is driving the oil field stimulation markets. The leading players of oilfield stimulation chemicals include BASF SE (Germany), Chevron Philips (U.S.), E.I. Du Pont De Nemours & Company (U.S), and Ashland Inc. (U.S.). Scope of the Report: This research report categorizes the market for oilfield stimulation chemicals on the basis of types, applications, and regions along with projection of revenue and analyzing trends in each of the submarkets. On the basis of types: The oilfield stimulation chemicals market is segmented on the basis of types, namely, gelling agents, friction reducers, surfactants, corrosion & scale inhibitors, acids, and others. Each material type is further described in detail in the report with value forecasts. On the basis of applications: The oilfield stimulation chemicals market is segmented into applications, namely, hydraulic fracturing, matrix acidization, acid fracking, and others. Each application segment is further described in detail in the report with value forecasts between 2015 and 2020. ###
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