The Global Oilfield Chemicals Market Is Expected To Register A Cagr Of 5.5% In Terms Of Revenue Over The Forecast Period (2019 – 2027)

Oilfield Chemicals

 

Oilfield chemicals are chemical components that are commonly used in oil and gas extraction operations. Cementing, enhanced oil recovery, drilling fluids, well stimulation, production chemicals, and workover & completion are just a few of the applications for oilfield chemicals. Oil produced in an oilfield typically contains a significant amount of water, which is mixed in with the oil during the drilling process or naturally, especially in offshore drilling and wells. It's critical to separate the oil from the water in order to purify it and reduce the corrosion of the oil-transporting containers and pipelines. Demulsifiers are used in the oilfield for this purpose, among other things. Demulsifiers are used to reduce the density of the oil, allowing for easier separation of the two chemicals while also reducing pipeline corrosion, which could lead to higher equipment maintenance costs. 

The global Oilfield Chemicals Market was valued at us$ 58,350.2 million in 2018, and is expected to register a cagr of 5.5% in terms of revenue over the forecast period (2019 – 2027) to reach us$ 94,069.7 million by 2027.

The growth in oil exploration and production activities, which in turn increases the demand for oilfield chemicals, demand for advanced drilling fluids, growth in deep-water and ultra-deep-water drilling projects, and rapid expansion of shale oil and gas drilling and production, are all driving the oilfield chemicals market. Furthermore, ongoing activities to meet global energy demand have resulted in the activation of more petroleum crude oil wells around the world, increasing the demand for oilfield chemicals. However, market growth is expected to be hampered in the near future by crude oil price fluctuations and rising environmental concerns. In the near future, the emergence of environmentally friendly oilfield chemicals is expected to provide a significant growth opportunity.

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more

Monochloroacetic Acid (MCAA) Market Is Estimated To Witness High Growth Owing To Increasing Demand for Surfactants and Herbicides

Image
Monochloroacetic Acid (MCAA) Market The Monochloroacetic Acid (MCAA) Market is estimated to be valued at USD 676.52 Million in 2022 and is expected to exhibit a CAGR of 7.03% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Monochloroacetic Acid (MCAA) Market is driven by the increasing demand for surfactants and herbicides in several industries such as agriculture, pharmaceuticals, textiles, and personal care. MCAA is extensively used in the production of surfactants, herbicides, and carboxymethyl cellulose (CMC), which are essential in various applications. These applications include detergents, agrochemicals, pharmaceuticals, dyes, and cosmetics, among others. The versatile properties of MCAA, such as its ability to act as a raw material in the production of herbicides and surfactants, make it highly desirable in the market. Market Dynamics: The Monochloroacetic Acid (MCAA) Market is driven by two k
Read more