Global Oilfield Chemicals Market – Expected to Reach $34.9 Billion by 2025 – Research and Markets
DUBLIN–(BUSINESS WIRE)–The "Global
Oilfield Chemicals Market, 2017 to 2025" report has been added
to Research and Markets' offering.
The Global Oilfield Chemicals Market is expected to reach US$34.9 Bn by
2025, expanding at a CAGR of 6.1% during the forecast period 2017-2025.
Oilfield chemical consumption is expected to spur with increasing supply
of oil & gas and growing international oil & gas trade. According to
EIA, the global oil consumption was observed to be 96.92 million barrels
per day in 2016 and anticipated to surpass 100 million barrels per day
by 2018. Further, increasing exploration of new oil reserves raised the
world oil production to 97.17 million barrels per day which is projected
to reach 100 million barrels per day by 2018. Increasing exploration of
shale reserves in North America and growing oil output of OPEC resulted
in over supply of oil & gas which has adversely effected the oil prices.
Thus, decline in crude oil prices offsetting the profitability margins
of oil producers which in turn is negatively impacting the demand for
oil field chemicals.
However, the growth in number of matured reserves, softening of oil
prices, and development in technologies such as hydraulic fracturing,
pressure pumping shifting the focus of the oil producers to improve the
yield from existing reserves which is subsequently increasing the demand
for oilfield chemicals. Further, increasing complexity in exploration of
new reserves with growing technological challenges such as exploration
in ultra deep water or exploration in high-pressure and temperature and
corrosive conditions propelling the demand for oilfield chemicals.
Therefore, oil field chemicals market is projected to witness moderate
growth till 2018 and is expected to witness robust growth during the
period of 2018-2025.
Key Topics Covered:
2. Executive Summary
3. Global Oilfield Chemicals Market Dynamics
4. Global Oilfield Chemicals Market Size & Forecast (US$ Mn), By
Chemical Type, 2015 – 2025
5. Global Oilfield Chemicals Market Size & Forecast (US$ Mn), By
Application, 2015 – 2025
6. Global Oilfield Chemicals Market Size & Forecast (US$ Mn), By
Geography, 2015 – 2025
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/mgk8hj/global_oilfield
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