Market Research Industry Future Updates Oilfield Chemicals Market

Oilfield Chemicals Market Set to Exceed USD
35.08 Billion by 2026: Polaris Market Research
The Global Oilfield Chemicals Market is anticipated to reach USD 35.08 billion by 2026 according to
a new study published by Polaris Market Research.
The moderate increase currently and expected boom in the near future of crude oil prices are expected
to bring about increases in demand for oilfield chemicals that are used in well drilling & completion,
hydraulic fracturing and EOR operations. The revival of drilling operations in the existing wells owing
to increase in crude prices to a feasible level and the rise in drilling of unconventional wells for pilot
project and also for production especially in the North American and North Sea regions will add to
demand for these products. The enhanced technologies currently utilized for developing shale gas and
tight oil resources have evolved as major trend over the past years. This will include the ongoing trend
towards fracturing fluids for slick water and also high-performance drilling mud chemicals.
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Development of several chemical formulations that can address environmental concerns will have an
important impact on its market, promoting to added demand for high quality environmentally friendly
chemicals, including less toxic biocides and biodegradable shale inhibitors. Offshore operations are
anticipated to stay vital contributor for the market globally and the necessity for environmentally
compatible chemicals and fluids will be leading in the offshore environments.
Projections for raw materials used for the development of oilfield chemicals are entrenched in the
finished products outlook in which these are used. Polymers and acids used in such stimulation
chemicals are expected to register higher growth, driven by constant expansion of the well stimulation
technologies. However, clays along with other commodities used in the drilling fluids are anticipated
to decline moderately early over the forecast period.