#Canadian Oilfield Chemicals Market To 2025

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Canadian Oilfield Chemicals Market: An Exclusive Study On Upcoming Trends And Growth Opportunities

The Canadian oilfield chemicals market size is projected to reach USD 1.79 billion by 2025, registering a CAGR of 3.9% over the forecast period, as per a new report by Grand View Research, Inc. Growing exploration in the states such as Alberta, Newfoundland, British Columbia, and Manitoba is expected to promote the demand for chemicals used in the aforementioned processes.

The industry is characterized by the production of bio-based products which is expected to limit the demand for the oilfield chemicals. However, increasing complexity of the exploration processes coupled with the rise in the demand for oil in Mexico is expected to result in an increased demand for such chemicals over the forecast period.

The crude oil prices have been witnessing a steady decline due to overproduction and oversupply from OPEC members and North America, making the market less lucrative for E&P activities. As a result, the key players in the industry have adopted sustainable resolutions keeping in mind the long-term aids and the dominant regulatory situation

Large reserves of unconventional hydrocarbon reserves in the form of shale gas, tight oil and oil sands is likely to drive the industry growth. In addition, high investments from multinational oil and gas majors such as Imperial Oil, ExxonMobil, and Suncor is expected to steer drilling activities over the forecast period which is further expected to drive growth.

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Canadian Oilfield Chemicals Market Report Highlights

• The use of corrosion inhibitor in the country is expected to realize market revenues of USD 415.0 Million by 2025 on account of high concerns regarding scale removal and pipeline protection

• The demand for oilfield chemicals in drilling is expected to grow at a CAGR of 3.9% from 2019 to 2025 on account of growth in the exploration activities driven by the demand for oil in North America

• The demand for the products for onshore exploration accounted for a revenue share of 91.4% of the overall market on account of the presence of majority of the oil wells onshore

• The segment development is mainly driven by the increasing E&P activities in unconventional reserves for shale gas, tight gas and CBM and large number of mature wells across the country

• Some of the companies operating in the Canadian oilfield chemicals industry include BASF, Dow Chemical Company, Lubrizol Canada, Ltd., and are integrated across the value chain to provide a number of services

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[anitakumarigrewal]

Oilfield chemicals are specialty chemicals used in the downstream, midstream, and upstream operations in an oil & gas industry. Oilfield chemicals are used in well drilling & production facilities to increase the extraction operations by improving productivity and efficiency of the oil drilling process & petroleum refining and to succeed optimum performance with effective oil recovery. These chemicals ease the maintenance of smooth operating oilfield, which result in decrease of expenses over delays & stoppages during drilling processes.

According to study, “Global Oilfield Chemicals Market Size study, by Type (Biocides, Corrosion & Scale Inhibitors, Demulsifiers, Surfactants, Polymers, Gellants & Viscosifiers, Other Chemicals), by Application (Drilling Fluids, Cementing, Enhanced Oil Recovery, Production Chemicals, Well Stimulation, Workover & Completion) and Regional Forecasts 2018-2025” the key companies operating in the global oilfield chemicals market are Baker Hughes Inc., Akzo Nobel NV, Ashland, Inc., Clariant, Albemarle Corp., Ecolab Inc., Evonik Industries AG, Newpark Resources Inc., Dow Chemical Company, Stepan Company, Solvay S.A., Thermax Global, Huntsman International LLC, Versalis SpA, Canadian Energy Services & Technology Corp. (CESTC), Croda International PLC, Halliburton, SMC Oilfield Chemicals, BASF SE, Schlumberger Ltd., Kraton Corporation, Drilling Specialties Company (Chevron Phillips Chemical Company), Nalco Champion Technologies Inc. (ECOLAB), Exxonmobil Corporation, Scomi Energy Services BHD (Scomi Group BHD), Flotek Industries Inc., Innospec, The Lubrizol Corporation, Kemira, Zirax Limited.

Based on type, oilfield chemicals market is segmented into biocides, demulsifiers, corrosion & scale inhibitors, surfactants, gellants & viscosifiers, polymers, and others. Biocide segment is anticipated to hold major share in market owing to rise in utilization in offshore operations during the forecast period. Based on location, market is segmented into offshore and onshore. Based on raw material type, market is segmented into natural and synthetic. Synthetic segment includes hydroxyethyl cellulose, polyanionic cellulose and carboxymethyl cellulose while natural segment incldes fruits, plants, and others. In addition, based on application, market is segmented into drilling fluids, enhanced oil recovery, cementing, production chemicals, workover & completion and well stimulation. Drilling fluids are used to cool & lubricate the drill bit, interrupt formation cuttings and control formation pressure. Drilling fluids is expected as the largest segment due to increase in deep & ultra-deep drilling activities over the forecast period.

The oilfield chemicals market is driven by increase in demand for advanced drilling fluids, followed by rise in oil exploration & production activities, increase in productivity & optimizing costs, rise in demand for petroleum-based fuel from transportation industry, increase in shift towards unconventional drilling operations and rapid expansion of shale oil & gas drilling & production. However, increase in environmental concerns, rise in clean energy initiatives and crude oil price fluctuations may impact the market. Moreover, emergence of eco-friendly oilfield chemicals is a key opportunity for market.

Based on geography, the North American region holds major share in oilfield chemicals market owing to the expansion of shale oil & gas industries in region. The Asian-Pacific region is expected to witness higher growth rate due to large investment in the energy sector by China and India countries because of upsurge in demand for petroleum & crude oil over the forecast period. It is anticipated that the market will be reached at US $28.59 billion by 2025.

To know more, click on the link below:-

Global Oilfield Chemicals Market Research Report

Related Reports:-

Oilfield Biocides Chemicals Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Global Specialty Oilfield Chemicals Market Analysis 2013-2018 and Forecast 2019-2024

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Metal Injection Molding Market Keyplayers | Applications and Types | Forecast To 2025

Global Metal Injection Molding Market is expected to reach USD 6.52 billion by 2025. Metal Injection Molding (MIM) combines two recognized technologies; “powdered metallurgy” and “plastic injection molding” to offer cost-efficient solutions for complex geometries. The MIM process is executed in four main steps like mixing, injection molding, debinding, and sintering. The Metal Injection Molding Market is estimated to grow at a significant CAGR of 11.9% over the forecast period as the scope and its applications are rising enormously across the globe.

The factors that are playing a major role in the growth of Metal Injection Molding market are growing demand for small and complex components from manufacturers, reduction in wastage of raw materials, cost-efficient raw materials, and growing investment in the defense and medical sector. However, strict government policy may restrain overall Metal Injection Molding market growth in the years to come. Metal Injection Molding Market is segmented based on material type, end user, and region. The soft magnetic material, stainless steel, low alloy steel, and the other material types could be explored in Metal Injection Molding market in the forecast period.

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The other sector comprises tungsten, tool steel, and titanium. The stainless steel sector accounted for the significant Metal Injection Molding market share and is estimated to lead the overall market in the years to come. This could be due to its availability at lower cost in comparison with the other material types.

The Metal Injection Molding market may be categorized based on end users such as firearms & defense, electrical & electronics, industrial, automotive, consumer products, medical & orthodontics, and others that could be explored in the forecast period. The electrical & electronics sector is estimated to grow at a significant CAGR in the years to come. This may be because of growing demand for complex and small metal injection molded parts.

Globally, Asia Pacific accounted for the substantial share of Metal Injection Molding (MIM) market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be increasing demand from end users like firearms & defense, automotive, industrial, electrical & electronics, and others. The developing countries like India and China are the major consumer Metal Injection Molding market in this region.

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Instead, North America and Europe are also estimated to have a positive influence on the future growth. North America is the second largest region with significant Metal Injection Molding market share. The reason behind the overall market growth could be Canadian and U.S. government initiative by providing several tax benefits. However, Europe is estimated to grow at fastest pace in the foremost period.

The key players of Metal Injection Molding Industry are Parmaco Metal Injection Molding, Indo-MIM, Parmatech Corporation, Dynacast International, Future High-Tech, ARC Group Worldwide, CMG Technologies, Phillips-Medisize, Sintex A/S, Smith Metal Products, Dean Group International, and NetShape Technologies. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition.

Market Segment:

Metal Injection Molding market End-Use Outlook (Revenue, USD Million, 2014 - 2025)

Automotive

Consumer Product

Medical

Industrial

Defense

Others

Metal Injection Molding market Regional Outlook (Revenue, USD Million, 2014 - 2025)

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Asia Pacific

China

India

Japan

CSA

Brazil

MEA

South Africa

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Oilfield Chemicals Market Segmentation | Outlook and Application Till 2025

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