According to a new market report published by Credence Research Global Oilfield Chemicals Market - Growth, Future Prospects & Competitive Analysis, 2017 - 2025, the Global Oilfield Chemicals Market is expected to reach US$ 34.9 Bn by 2025, expanding at a CAGR of 6.1% during the forecast period 2017 - 2025.

Browse the full Global Oilfield Chemicals Market by Chemical Type, Application and Geography - Growth, Future Prospects & Competitive Analysis, 2017 2025 report at http://www.credenceresearch.com/report/oilfield-chemicals-market

Market Insights

Oilfield chemical consumption is expected to spur with increasing supply of oil & gas and growing international oil & gas trade. According to EIA, the global oil consumption was observed to be 96.92 million barrels per day in 2016 and anticipated to surpass 100 million barrels per day by 2018. Further, increasing exploration of new oil reserves raised the world oil production to 97.17 million barrels per day which is projected to reach 100 million barrels per day by 2018. Increasing exploration of shale reserves in North America and growing oil output of OPEC resulted in over supply of oil & gas which has adversely effected the oil prices. Thus, decline in crude oil prices offsetting the profitability margins of oil producers which in turn is negatively impacting the demand for oil field chemicals. However, the growth in number of matured reserves, softening of oil prices, and development in technologies such as hydraulic fracturing, pressure pumping shifting the focus of the oil producers to improve the yield from existing reserves which is subsequently increasing the demand for oilfield chemicals. Further, increasing complexity in exploration of new reserves with growing technological challenges such as exploration in ultra deep water or exploration in high-pressure and temperature and corrosive conditions propelling the demand for oilfield chemicals. Therefore, oil field chemicals market is projected to witness moderate growth till 2018 and is expected to witness robust growth during the period of 2018-2025.

Competitive Insights:

Global oilfield chemicals market is segmented on the basis of chemical type, application and geography. By chemical type, organic corrosion & scale inhibitors segment was the most dominant segment in global oilfield chemicals market in 2016 and anticipated to continue its dominance over the forecast period. Increasing complexity in drilling operations due to growing challenges to counter corrosion promoting the use of corrosion inhibitors which is subsequently driving the growth of the segment during the forecast period. Based on application, well simulation application segment accounted for the largest share in global oilfield chemicals market owing Increasing use of the well simulation chemicals to improve the oil & gas production from the reservoir. On the basis of geography, North America was estimated to be the largest market for oilfield chemicals in 2016 and projected to maintain its dominance during the forecast period. Increasing exploration of shale gas reserves in the region is anticipated to drive the growth of the segment during the forecast period. Major players in global oilfield chemicals market are investing in research and development, merger and acquisition with focus on increasing market penetration.

Overall, global oilfield chemicals market is anticipated to register significant growth over the forecast period (2017-2025).

Key Trends:

-  Merger & Acquisition

-  Investment in R&D

Browse the full Global Oilfield Chemicals Market by Chemical Type, Application and Geography - Growth, Future Prospects & Competitive Analysis, 2017 2025 report at http://www.credenceresearch.com/report/oilfield-chemicals-market

 Latest Reports:

Industrial Rubber Products Market: http://www.credenceresearch.com/press/global-industrial-rubber-products-market

Rubber Technology is the subject dealing with the transformation of rubbers or elastomers into useful products, such as automobile tires, rubber mats and, exercise rubber stretching bands. The materials includes latex, natural rubber, synthetic rubber and other polymeric materials, such as thermoplastic elastomers.[1] Rubber processed through such methods are components of a wide range of items.

Methods for processing rubber include mastication and various operations like mixing, calendering, extrusion, all processes being essential to bring crude rubber into a state suitable for shaping the final product. The former breaks down the polymer chains, and lowers their molecular mass so that viscosity is low enough for further processing. After this has been achieved, various additions can be made to the material ready for cross-linking. Rubber may be masticated on a two-roll mill or in an industrial mixer, which come in different types.

Rubber is first compounded with additives like sulfur, carbon black and accelerators. It is converted into a dough-like mixture which is called "compound" then milled into sheets of desired thickness. Rubber may then be extruded or molded before being cured.

Source : Wikipedia

Can Natural Rubber be used for manufacturing rubber products which may contact human body?

Yes. Rubber products made from latex of natural rubber is used for medical treatment and examination and they are normally treated in an additional process of the production line in order to reduce the extractable protein content of the product. Rubber products made of solid natural rubber usually contains very low level of extractable protein as compared to the natural rubber latex products. This is because of the many washing processes the latex has to go through before becoming solid (dry) rubber. Therefore, rubber products made of solid (dry) natural rubber do not normally cause any kind of allergy problem, particularly when contact to human body is minimum

[Ref: industrialrubbergoods.com]

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