Growth in oil exploration &
production activities is expected to contribute significantly in the growth of
global oilfield chemicals market.

According to The Insight Partners
market research study titled "Global Oilfield Chemicals Market to 2027 by Type (Polymers, Corrosion and Scale
Inhibitors, Demulsifiers, Surfactants, Gallants and Viscosifiers, Others),
Applications (Drilling, Cementing, Enhanced Oil Recovery, Production Chemicals,
Well Stimulation, Workover and Completion), and Geography". The global
oilfield chemicals market is expected to reach US$ 43,685.6 Mn in 2027 from US$
29,120.0 Mn in 2018. The market is estimated to grow with a CAGR of 4.7% from
2019-2027. The report highlights the trends prevalent in the global oilfield
chemicals market and the factors driving the market along with those that act
as deterrents to its growth.

Global oilfield chemicals market,
based on the type, was segmented as, polymers, corrosion and scale inhibitors,
demulsifiers, surfactants, gellants and Viscosifiers, others. In 2018, polymers
held the largest share of the market, by type. However, the demulsifiers
segment is anticipated to grow at a significant rate during the forecast
period. The demulsifiers have properties to treat emulsions under conditions
such as short residence times, high turbulence, high solid loadings, low
temperature, and high water content these factors are anticipated to lead to
the growth of the segment during the forecast period.

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The market for oilfield chemicals is
expected to grow, owing to factors such as growth in oil exploration &
production activities, increasing demand for advanced drilling fluids are
boosting the oilfield chemicals market. However, crude oil price fluctuations
is hindering the market for same in the current scenario.

The major players operating in the
oilfield chemicals market include Akzo Nobel N.V., Albemarle Corporation, Baker
Hughes, BASF SE, Ecolab, Halliburton, Newpark Resources Inc., Schlumberger
Ltd., Solvay, and The Lubrizol Corporation. The market has witnessed various
growth strategies during recent years in the oilfield chemicals market. During
2019, The Upstream Energy business operates within Ecolab’s Energy segment and
consists of the Oil Field Chemicals production business and the WellChem
drilling and well completion chemistry business. Ecolab intends to retain the
downstream business, which helps refineries and petrochemical plants. The
separation performance is expected to be tax-free spin-off to U.S. shareholders
for U.S. federal income tax purposes.

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