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Oil and Gas Chemicals Market

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Oil and Gas Chemicals Market is categorized by Application (Upstream, Midstream, Downstream), and Geography - Insights, Size, Share, Opportunity Analysis, & Industry Forecast till 2025
Oil and Gas Chemicals Market, By Application, and
Geography - Insights, Size, Share, Opportunity Analysis, &
Industry Forecast till 2025
Oil and gas chemicals are used in major oil field activities such as drilling,
production, stimulation, enhanced oil recovery, and completion. They are used
in various other operations for smooth functioning and improving productivity
of the well. Additionally, oil and gas chemicals has applications in petroleum
refining processes. Increase in energy demand, high consumption rate, and
growing oilfield activities in deep and ultra-deep water has led to increase in
growth of oil and gas chemicals market.
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Upstream segment of oil and gas chemicals market is projected to be the
dominant market and was valued at US$ 37.39 billion in 2016. Oil and gas
chemicals are widely used in oilfield activity to extract, repair or enhance the
total oil recovery during the life of an oilfield. Stimulation chemicals, which is a
sub-segment of upstream oil and gas chemicals, is the dominant market in the
oil and gas chemicals, owing to their wide use in oilfield E&P activities.
Stimulation chemicals are one of the best suited measure to enhance the
production of a well, and was projected at a value of US$ 16.58 billion in 2016.
Midstream segment are witnessed to grow at a fast pace with a CAGR of 6.41%
over the forecast period and was valued at US$ 8.59 billion in oil and gas
chemicals market, owing to their wide use in major stages of petroleum
industry, which includes processing, storage, and transportation. Desalting
chemicals are projected to have the largest market in midstream oil and gas
chemical and was valued at US$ 3.10 billion in 2016, owing to their use in
decreasing the content of salt in the treated oil.
North America is projected to have a dominant market in oil and gas chemicals
in terms of market share and volume, which is anticipated to continue its
dominance over the forecast period. However, Asia-Pacific is witnessed to have
a fast pace in the oil and gas chemicals market.
Major Players in Oil and Gas Chemicals Market for Upstream, Midstream
and Downstream
Major players operating the global oilfield chemical market include Baker
Hughes, Akzo Nobel NV, Elementis Plc., NALCO Champion, Newpak
Resources Inc., The Lubrizol Corporation, Halliburton Company, Solvay SA,
and others.
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pallavi.reddy
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