Production chemicals are used for enhancing the recovery of hydrocarbons from the well. Various categories of production chemicals include corrosion inhibitors, scale inhibitors, asphaltene inhibitors, biocides, demulsifies, scavengers, surfactants, and others. These chemicals are added in production to achieve the optimum performance and enhance the effectiveness of the oil recovery.
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Recent boom in the shale oil and gas industry in North America is driving the demand for production chemicals. The factors driving growth in the production chemicals market are increasing production of crude oil, growing drilling activities, and pursuing production from ageing fields. The market is projected to witness huge growth due to enormous potential offered by these drivers. Many of the oil and gas companies are headquartered in this region which boosts the oil and gas industry of North America and the neighboring Latin American region.
Production Chemicals Market by Type (Demulsifiers, Corrosion Inhibitors, Scale Inhibitors, Asphaltene Inhibitors, Biocides, Scavengers, Surfactants, and others), by Oilfield Type (Onshore and Offshore), and Region – Global Trend.
♦ Major Key Players –
The report covers the global production chemicals market in major regions namely North America, Europe, the Middle East and Africa, Asia-Pacific, and Latin America. This report analyzes different marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, and winning imperatives. Major companies such as Akzonobel NV (The Netherlands), BASF SE (Germany), Croda PLC (U.S.), DuPont (U.S.), Baker Hughes (U.S.), Halliburton, and Schlumberger Limited (U.S.) are profiled.
Production chemicals are used in the oilfield operations mainly to improve production maintenance & transport and eventually the recovery from reserves. Increasing oil production, extraction of oils from technologically challenging hydrocarbon geologies, and necessity of better extraction are boosting interest in the market.
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This market is driven by increasing production of crude oil, growing drilling activities, and pursuing development and production from established/ageing Fields. The demand for production chemicals is increasing in enhanced oil recovery application as EOR activities are rising globally to enhance crude oil production from mature or declining reserves. The Asia-Pacific region is estimated to be the fastest-growing region as increasing number of oilfields are being explored and turned over in this region. Countries such as China, Malaysia, Thailand, and Indonesia are registering a high growth in the region.
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