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Rising demand for drilling fluids especially in North America
Specialty oilfield chemicals are majorly used for drilling fluids and well stimulation processes during extraction of crude oil. They are used for many purposes such as protection from corrosion and scaling, demulsifying the water and oil emulsion, and wetting.
The Specialty oilfield chemicals market is a highly fragmented market with a presence of large number of producers. There are many global players having presence in all regions. The major players in this market are opting for acquisitions and capacity expansions to enhance their market penetration into new applications and more eco-friendly products. These major companies in the market are Akzonobel NV (The Netherlands), BASF SE (Germany), DuPont (U.S.), Baker Hughes (U.S.), Halliburton (U.S.), and Schlumberger Limited (U.S.).
Drilling fluids application dominated the specialty oilfield chemicals market in 2013. North America was the largest market for drilling fluids and accounted for 50.19% of the overall specialty oilfield chemicals market by value in 2013. It is expected to show an average growth owing to moderately increasing consumption of specialty oilfield chemicals, primarily in the U.S. and Canada.
Specialty Oilfield Chemicals Market By Type (Corrosion & Scale Inhibitors, Biocides, Demulsifier, Pour Point Depressants, Surfactants, Advanced Polymers, And Others), Application (Drilling Fluid, Well Stimulation, Production Chemicals, Workover & Completion, And Enhanced Oil Recovery), and Geography–Regional Trend & Forecast To 2019
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