Asia Pacific Oilfield Chemicals Market
The Asia-Pacific oilfield chemicals market was valued at USD XX million in 2016 and is expected to reach USD XX million by 2021, growing at a CAGR of XX% during the forecast period (2016-2021).
Oilfield chemicals are an integral part of the oil & gas industry and find extensive usage in various stages of oil exploration. The problems that oilfields experience include water gushing into the oil well during drilling & exploration and gases like carbon dioxide and hydrogen sulfide causing equipment corrosion. Moreover, metal scales formed during drilling operations also interfere with the machine operations. Such hindrances are avoided by using oilfield chemicals, especially corrosion and scale inhibitor chemicals.
Factors, such as the increased shale gas exploration activities, among others, are driving this market. The growing demand for petroleum-based fuels from the transportation industry is expected to grow the market in the future. However, the concern regarding the current low price of crude oil and the environmental concerns associated with shale gas could act as restraints for the oilfield chemicals market, globally.
In the report, the oilfield chemicals market has been segmented by chemical type and application, which are further segmented as follows:
By Chemical Type -
Corrosion & Scale Inhibitors
By Application -
Drilling & Cementing
Enhanced Oil Recovery
Workover & Completion
Well stimulation is the largest segment that accounted for nearly 61% share of the total oilfield chemicals market.
The market has also been geographically segmented into China, India, Indonesia, Malaysia, Thailand, Australia & New Zealand, Vietnam, and Rest of Asia-Pacific. China is the largest country in the region, by demand, owing to shale gas explorations being done.
Opportunities and Major Players
The major opportunity for the oilfield chemicals market is production opportunities in various developing countries that could support the growth of the market in the future.
Some of the major players in the Asia-Pacific market include:
Baker Hughes Inc.
Key Deliverables in the Study
Market analysis for the Asia-Pacific oilfield chemicals market, with region-specific assessments and competition analysis on a regional scale.
Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the Asia-Pacific oilfield chemicals market on a regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.