Europe Oilfield Chemicals Market Segmented by Chemical, Application and (2015-2020)
The oilfield chemicals market in Europe is likely to sustain its current CAGR of about 6% in the oncoming 2014-2020 analysis period. Interestingly, the demand is expected to be growing at the fastest rate in Russia. The oilfield chemicals market is anticipated to grow due to the explorations of shale gas from unconventional sources, those which were previously considered uneconomical for the same. The recent discoveries of new oil-wells are also assisting this entire augmentation in the demand for oilfield chemicals in Europe. Oilfield chemicals are used in various stages of oil exploration. Incidentally, this is mainly because there are on several occasions, problems associated with water gushing into the oil-well during drilling and exploration; this accompanied by the emission of gases like carbon dioxide and hydrogen sulphide, cause corrosion of the equipment. Fortunately, this is avoided by using corrosion inhibitor chemicals. Alternately, emulsion breakers are used to separate the oil from the well. Usage of chemicals is important to remove the metal scales, especially those which interfere with the machine operations, during drilling. However, there are stringent environmental norms that require the use of eco-friendly chemicals. Presently, there is a great deal of research going on into developing chemicals that are both eco-friendly and effective. The European Oilfield market is fast growing because of the increasing demands especially from countries like Russia, Italy, UK and Spain. The European oilfield chemicals market can be segmented by chemical types (Biocides, Corrosion & Scale inhibitors, demulsifiers, polymers, pour-point depressants, surfactants and other chemicals), by their application (Cementing, drilling, enhanced oil discovery, production, well stimulation, workover and completion), by their geography (U.K, Spain, Italy, Germany and other countries). The key players in this market are Ashland Inc., Stepan Company, Weatherford International, and Lamberti Group. Drivers: The increasing demand for energy and shale gas exploration increases demand for oilfield chemicals. There is also an increasing demand for environmental friendly chemicals. Theses account to be chief drivers for this market. Restraints: Development of alternate and renewable sources of energy is a possible restraint. What the report offers? Identification of key drivers and restraints of the market Assessment and competition analysis Identification market scenarios, opportunities and key companies in the Europe oilfield chemicals market. Extensively researched major companies’ profiles along with their strategic initiatives and market shares Identification & analysis of the macro and micro factors affecting this market Identification of Key market players with their strategic interests and key financial information.