DUBLIN–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/research/trdfrk/specialty) has announced the addition of the “Specialty Oilfield Chemicals Market by Type, Application, and by Region – Global Forecast to 2020” report to their offering.
The global specialty oilfield chemicals market is projected to reach USD 13.65 billion by 2020, registering a CAGR of 5.5% between 2015 and 2020.
The increasing oil production in North America and some countries of the Middle East is expected to propel the demand of specialty oilfield chemicals during the forecast period.
Production chemicals, followed by EOR are the fastest-growing applications in the specialty oilfield chemicals market
With recent developments in increasing oil production and improving oil recovery from existing as well as new fields, newer specialty oilfield chemicals and processes are being developed. The production of oil is anticipated to increase due to the active participation of the countries in the Middle East and North America leading to the highest growth rate for production chemicals during the forecast period. On the other hand, EOR process helps to improve the wellbore productivity in a new as well as a mature oilfield. The property of the EOR process to maximize the yield and to improve product quality gives this application an impetus for growth during the forecast period. Because of these factors, production chemicals and EOR account for to be the fastest-growing applications in the specialty oilfield chemicals market.
The Middle East & Africa is the fastest-growing region in the specialty oilfield chemicals market
The reserves in certain countries of the Middle East & Africa are nearly unexplored and offer immense potential for growth for the region. Nigeria, Angola, and other parts of Africa have huge amount of unexplored oil & gas reserves that may provide an upsurge to the specialty oilfield chemicals, leading to the market growth during the forecast period. The uplifting of the international sanctions on Iran is definitely expected to provide an impetus to the oil & gas exploration activities in the country.
Increased drilling and exploration of oil in Venezuela and China are the new growth avenues for the market
In Venezuela, huge oil reserves have been discovered in the Orinoco Belt. Developing this oilfield will include drilling 10,500 wells, building two refineries and a new coastal export terminal, and upgrading another one. The potential offshore reserves as well as shale reserves discovered in China are expected to drive the demand of specialty oilfield chemicals as these would help to enhance oil production, control corrosion, and prevent wax or paraffin deposition.
The report also provides company profiles and competitive strategies adopted by the major market players such as BASF SE (Germany), AkzoNobel N.V. (Netherlands), The Dow Chemical Company (U.S.), Kemira oyj (Finland), Schlumberger (U.S.), Halliburton (U.S.), Lubrizol Corporation (U.S.), Clariant (Switzerland), Nalco Champion (U.S.) among others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Specialty Oilfield Chemicals Market, By Type
8 Specialty Oilfield Chemicals Market, By Application
9 Specialty Oilfield Chemicals Market, By Region
10 Competitive Landscape
11 Company Profiles
– Akzonobel Nv
– Albemarle Corporation
– Baker Hughes Inc.
– Basf Se
– Halliburton Company
– Kemira Oyj
– Lubrizol Corporation
– Nalco Champion
– Schlumberger Limited
– Solvay S.A.
– Stepan Company
– The Dow Chemical Company
For more information visit http://www.researchandmarkets.com/research/trdfrk/specialty