Specialty oilfield chemicals refer to those chemicals which helps in the enhancement of the overall efficiency of the oil recovery. Such specialty chemicals pretense their effect only when they are present in the procedure of oilfields. But after the removal of the oilfield, their properties gradually start declining and hence has to be added continuously or periodically as per the need and requirement of the oil production. Specialty oilfield chemicals market helps in achieving relatively greater efficiency in oilfields and its improves its overall productivity. Specialty oilfield chemicals has the ability to maximize the recovery of oil & gas reserves more cost effectively and further helps in minimizing the ill impact on the environment. Specialty oilfield chemicals are also considered as critical product which facilitates well completion, drilling and intervention services. Various industries across the globe are focusing on promoting improved and well site operations which allows maximum recovery of the oil and gas reserves in a relatively more cost effective manner.
In addition, attaining greater oilfield effectiveness and productivity and to ensure minimum wastage as well as reduced ill impact on the environment, specialty chemicals are being widely deployed. The well site operations including well drilling, treating, workover fluids and completion, specialty oilfield chemicals are able to perform to their greatest owing to the added functionalities and properties by the specialty oilfield chemicals. Chemicals such as ethylene amines are widely used in the manufacturing of corrosion inhibitors which inhibit corrosion of mild steel machinery and equipment in any aqueous medium. In addition to this, chelates are being widely used with different types of acids to prevent the re precipitation of ferric scales and to avoid the re dissolve of other undesirable metal scales like CaCO3, BaSO4 and SrSO4 among others.
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One of the important factors fueling the demand for specialty oilfield chemicals comprises rapidly increasing production of crude oil across the globe. However, oil & gas industry is currently facing a slump thus leading to shut down of various oil rigs across the globe. Hence the overall production of oil has not been diversely affected. Thus, increasing production of oil is one of the key factors driving the growth of the global specialty oilfield chemicals market over the forecast period. Furthermore, the increasing use of such chemical agents prolongs the total lifespan of the industrial equipments after removing the unwanted metal scales deposited which intervene with machine operations. Hence, minimizing the overall cost of maintenance of the equipments.
The global specialty oilfield chemicals market can be divided on the basis of type, application and region. By type, the global specialty oilfield chemicals market can be divided into inhibitors and scanvengers, demulsifiers, gellants and viscofiers, friction reducers, rheology modifiers, specialty surfactants, specialty biocides, pour point depressant, other synthetic polymers, other natural polymers and other specialty chemicals. By application, the global specialty oilfield chemicals market can be segmented into drilling fluid, well stimulation, production chemicals, cementing, workover & completion and enhanced oil recovery. Based on region, the global specialty oilfield chemicals market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.
Key players in the global specialty oilfield chemicals market are focusing on various key market policies such as mergers and acquisitions to increase competitive advantage in the global market. Furthermore, they are focused on other key policies such as expansion and new product development. Some of the major companies operating in the global specialty oilfield chemicals market globally include BASF SE, Akzonobel NV, Baker Hughes, DuPont, The Dow Chemical Company, Halliburton, Schlumberger Limited and The Lubrizol Corporation among others.
The global specialty oilfield chemicals market can be segmented
• Inhibitors and scanvengers
• Gellants and viscofiers
• Friction reducers
• Rheology modifiers
• Specialty surfactants
• Specialty biocides
• Pour point depressant
• Other synthetic polymers
• Other natural polymers
• Other specialty chemicals
• Drilling fluid
• Well stimulation
• Production chemicals
• Workover & completion
• Enhanced oil recovery
• North America
• Latin America
• Middle East & Africa
• Asia Pacific
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