Production Chemicals Market worth $6,173.5 Million by 2020

(IT-NEWSWIRE.COM, July 06, 2021 ) The report “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 & Forecast to 2020” defines and segments the production chemicals market with an analysis and forecast for types, and applications by volume as well as value.

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The production chemicals market is projected to reach $6,173.5 Million by 2020 at a CAGR of 5% to 6% during the same period.

“The Middle East & Africa is the key market for production chemicals”

The Middle East & Africa dominated the production chemicals market in 2014 and accounted for over 48% of the market, by value. Country-wise Saudi Arabia is the largest market for production chemicals globally. Companies such as Schlumberger, Exxon Mobil, and Halliburton are two of the biggest players in the country. The U.S. is the second-largest production chemicals consumer in the world. The growth in the PP catalyst industry is anticipated to come from biocides and scavengers market due to stringent regulations being imposed in Europe and the U.S. Future growth in the international market hinges heavily onto developing economies, especially in Asia-Pacific. China, Malaysia, and Indonesia, especially, stand out as noteworthy emerging markets. The future scenario in Asia-Pacific looks promising given the number of facility expansions, merger & acquisitions, and strategic partnerships that took place in these countries. The ensuing increase in foreign investments and rise in the number of new manufacturing establishments will make Asia-Pacific as a prime driver of growth for the production chemicals market.

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Browse in-depth TOC on “Production Chemicals Market”
89 - Market Data Tables
46 - Figures
143 - Pages

“Demulsifiers dominate the production chemicals market with scavengers set to register the fastest growth rate in the market between 2015 and 2020”

Demulsifiers took the topmost position in the production chemicals market with around 28% market share by value in 2014. Demulsifiers have propelled the industry forward by making possible the inexpensive and easily controlled production of crude oil. Demulsifiers are used to separate emulsions of oil and water for ease of extraction. Scavenger in oil and gas industry is a chemical substance added to crude oil in order to remove or de-activate impurities in the reaction products, for example, oxygen and hydrogen sulfide, to make sure that they will not cause any unfavorable reactions. Scavengers are set to register the highest growth rate among all types of production chemicals with an anticipated CAGR of 8.1%. They are mostly use to sweeten oil by removing hydrogen sulfide and oxygen from crude oil thereby increasing efficiency of crude oil.

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Production Chemicals Market worth $6,173.5 Million by 2020