According to a market report by Lucintel, the future of the oilfield stimulation chemical market looks promising with opportunities in the hydraulic fracturing, matrix treatments, and acid fracking industries. The oilfield stimulation chemical market is expected to grow with a CAGR of 10% from 2019 to 2024. The major growth drivers for this market are increasing crude oil production and rising deep drilling operations.
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In this market, acids & biocides, corrosion inhibitors, friction reducers, gelling agents, iron control agents, and water control polymers are the major product type of oilfield stimulation chemicals. Friction reducers is the largest product type.
Within the oilfield stimulation chemical market, hydraulic fracturing, matrix treatments, and acid fracking are the major end use industries. Hydraulic fracturing is the largest end use segment for oilfield stimulation chemicals.
North America will remain the largest market over the forecast period due to rapid growth in exploration of oil & gas reserves.
BASF SE, Baker Hughes Incorporated, DOW Chemical Company, E.I Dupont, Flotek Industries Inc., Halliburton, Schlumberger Limited, Chevron Phillips Chemical Company, Clariant AG, Ashland Inc., Akzonobel N.V., Albemarle Corp., and Solvay SA. are among the major manufacturers of oilfield stimulation chemicals.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the oilfield stimulation chemical market by product type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Oilfield Stimulation Chemical Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the oilfield stimulation chemical market by product type, end use industry, and region as follows:
By Product Type [$M shipment analysis for 2019 – 2024]:
Friction Reducer
Acids and biocides
Corrosion Inhibitors
Gelling Agent
Iron Control Agent
Water Control
By End Use Industry [$M shipment analysis for 2019 – 2024]:
Hydraulic Fracturing
Matrix Treatments
Acid Fracking
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/global-oilfield-stimulation-chemical-market.aspx or helpdesk@lucintel.com.
About Lucintel
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