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Global Oilfield Chemicals Market to Reach $43.9 Billion by 2027: U.S. Market is Estimated at $7.5 Billion, While China is Forecast to Grow at 10.3% CAGR

·3-min read

Dublin, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The "Oilfield Chemicals - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Oilfield Chemicals Market to Reach $43.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Oilfield Chemicals estimated at US$27.9 Billion in the year 2020, is projected to reach a revised size of US$43.9 Billion by 2027, growing at a CAGR of 6.7% over the analysis period 2020-2027.

Drilling Fluids, one of the segments analyzed in the report, is projected to record a 7.6% CAGR and reach US$17.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Stimulation Chemicals segment is readjusted to a revised 7.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $7.5 Billion, While China is Forecast to Grow at 10.3% CAGR

The Oilfield Chemicals market in the U.S. is estimated at US$7.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2027 trailing a CAGR of 10.3% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.

Production Chemicals Segment to Record 4.3% CAGR

In the global Production Chemicals segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.7 Billion in the year 2020 will reach a projected size of US$3.5 Billion by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6 Billion by the year 2027, while Latin America will expand at a 5.3% CAGR through the analysis period.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights

  • World Market Trajectories

  • Impact of COVID-19 and Looming Global Recession

  • COVID Impact on Oil & Gas Industry

  • An Introduction to Oilfield Chemicals

  • Global Market Prospects & Outlook

2. FOCUS ON SELECT PLAYERS(Total 147 Featured)

  • Akzo Nobel NV

  • Albemarle Corp.

  • Baker Hughes

  • Elementis Plc

  • Halliburton Company

  • NALCO Champion

  • Newpark Resources, Inc.

  • Schlumberger Limited

  • Schlumberger Limited (M-I SWACO)

  • Solvay SA

  • The Lubrizol Corporation

3. MARKET TRENDS & DRIVERS

  • Need to Improve Productivity & Efficiency of Oil Fields Fuels Demand for Oilfield Chemicals

  • E&P Activities Determine Demand Dynamics in the Global Oilfield Chemicals Market

  • Shale Gas E&P Activities Translate into Opportunities for Oilfield Chemicals Market

  • Market Benefits from the Increase in Deepwater & Ultra-Deepwater Drilling Projects

  • Energy Demand Dynamics and Need to Bring Petroleum Crude Oil Wells to Production Drives Demand for Oilfield Chemicals

  • Demand for Petroleum-based Fuel from Transportation Industry Augurs Well for the Market

  • Shift towards Unconventional Drilling and Increasing Complexity of Drilling Activities Bodes Well for the Market

  • Demand Poised to Rise for Environment Friendly Oilfield Chemicals

  • Natural Polymeric Materials Hold Potential in Oilfield Operations

  • Specialty Oilfield Chemicals Market: Poised for Growth

  • EOR Chemicals Poised for Healthy Growth

  • Nanotechnology's Growing Role in Oilfield Chemicals

  • Tremendous Benefits of Custom Oilfield Chemical Manufacturing Augurs Well for the Market

  • Specialty Oilfield Chemicals Gain Traction

  • Innovations & Advancements to Boost Market Prospects

  • Challenges Facing Market Growth

4. GLOBAL MARKET PERSPECTIVE

IV. COMPETITION

  • Total Companies Profiled: 147

For more information about this report visit https://www.researchandmarkets.com/r/75gj07

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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