The global energy needs are constantly increasing and the current supply of crude oil and natural gas are insufficient. Oil field chemicals are the important component of crude oil and natural gas, which fulfill the worlds energy needs. Oil field chemicals have application in crude oil and natural gas production, pipeline gathering systems, and gas processing. These chemicals are used in the exploration and processing of crude oil and natural gas, drilling fluid, cementing, and oil production chemicals. Oil field chemicals present in the market include demulsifiers, surfactants, corrosion inhibitors, oxygen scavengers, paraffin dispersants, water coagulants, and biocides. High energy consumption in emerging countries such as, India, China and Latin America are boosting the demand for crude oil and ultimately increasing the demand for oil field chemicals. Stringent government and environmental regulations associated with the use of oil field chemicals is one of the restraining factors for global oil field chemicals market.
Global oil field chemicals market is segmented on the basis of its type, application, and geography. Types comprises of oil- and water-soluble demulsifiers, corrosion emulsifier, surfactants, dispersants and others. Applications of oilfield chemicals are drilling, cementing, stimulation, production and enhanced oil recovery. Geographically, global oilfield chemicals market is segmented as North America, Europe, Asia Pacific, and LAMEA. North America is the largest consumer of oilfield chemicals. Key players in oilfield chemicals market are Imperial Oilfield Chemicals Pvt. Ltd., REDA Oilfield, Novochem, BASF, FRAC CHEM, Stepan, Independence Oilfield Chemicals, and Ingevity (MWV Specialty Chemicals). Major strategies adopted by these players include product launches, collaborations and mergers & acquisitions over last few years
The market is segmented on the basis of its type, application, and geography.
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