In 2027, the global oilfield chemicals market will exceed US $43 billion

According to menafn news agency on December 3, according to the Market Research Report, the company's research is entitled "2027 oilfield chemicals market - global analysis and prediction by type (polymer, corrosion and scale inhibitor, demulsifier, surfactant, additives and viscosity enhancer, etc.), application (drilling, cementing, EOR, production chemicals, stimulation, workover and completion), and topography" According to the report, it is estimated that by 2027, the global oilfield chemicals market will reach 43.685.6 billion US dollars Oilfield chemicals will be widely used in the drilling process During this process, the drilling fluid is added to the drilling mud to stabilize the rock These fluids contain a variety of chemical additives to ensure that they are not absorbed by the formation, thus making the drilling process effective The growing demand for advanced drilling fluids, coupled with the increasing shelf life of these chemicals, is a key driver of the oilfield chemicals market According to the report, the global market value of oilfield chemicals in 2018 is US $29.12 billion, and it is estimated that the compound annual growth rate will reach 4.7% by 2027 The expansion of oil and gas industry, the increase of exploration and production activities and the progress of drilling technology will promote the growth of oilfield chemicals market in the forecast period However, the uncertainty of crude oil price is hindering the growth of the market According to the types, the oilfield chemicals market is divided into demulsifiers, polymers, surfactants, corrosion and scale inhibitors, additives and tackifiers, etc Considering the application scope, the industry can be divided into cementing, drilling, stimulation, EOR, workover and completion, and production chemicals In terms of regional environment, the US oilfield chemicals market is expected to accelerate growth during the analysis period This regional growth can be attributed to improved economic conditions in the country as a result of increased oil production Other factors contributing to the regional market outlook include the government's favourable policy on energy independence and better access to oil reserves within the federal region The main competitors of oilfield chemicals market described in the report include Solvay, Halliburton, Schlumberger, Lubrizol, Yikang, Yabao, nuolian, BASF, Baker Hughes, Xinyuan resources, etc.