Oilfield chemicals are manufactured on a large scale mainly for their usage in the gas and oil industry. These specialty oilfield chemicals are known to enhance the quality and performance of the production in a manufacturing unit. By delivering apt quality specialty chemicals, oilfield chemicals manufacturers are able to improve the overall recovery rate of the hydrocarbons that are used in the oilfield industry. Consistent advancements in technology and growth in the shale industry has created various positive opportunities for these specialty chemicals. Increased demand for fuel and growth in large scale business activities are also two of the significant driving factors that have contributed to the turnaround and rise of oilfield industry.
The Role of Oilfield Chemicals in The Rise and Turnaround of Oilfield Industry
Utilized in almost all the stages of gas and oil production, ranging from drilling and well exploration, EOR applications to oil production, specialty oilfield chemicals are anticipated to continue to record consistent growth which is driven strongly by increasing demand for energy all over the world. Oilfield Chemicals Manufacturers have identified the fact that they have a huge gap to fill with most of the gas and oil resources in the world drying up. This is where they have been able to provide competent completion and drilling chemicals that have made the work of various industries easier.
Calcium bromide available in powder and liquid form, is a comprehensive completion fluid and oilfield chemical. With a CAS number: 7789-41-5 and molecular formula: CaBr2, calcium bromide is one of the best Oilfield Chemicals to be used in the industry because most of the companies in the oil and gas industries opt for CaBr2 for making their applications smoother. Calcium bromide is nothing but the hydrobromic acid of the calcium salt. It can absorb moisture from the air and in its powder form it completely dissolves in common brines and water. It wouldn’t be wrong to say that calcium bromide has played a significant role in boosting the demand for oilfield chemicals and the industry as a whole.
Drivers and Restraints for The Market
As per various industry reports, change in the trend of demand for specialty chemicals is anticipated to create many more opportunities for the manufacturers in the industry. The three main drivers for the market are: improved demand in specialty processes like well stimulation, rise in crude oil production and increase in deep water drilling activities.
It has been observed that powerful rise in the demand for energy and fuel sources is creating a huge demand for chemicals. However political issues across the world are causing some problems for the oilfield chemicals manufacturers, especially in the Middle Eastern regions.
Market Segmentation
For the purpose of deriving ideal forecasting reports, various experts have segment the global oilfield chemicals industry into various types of applications and products. The kinds of products are usually segmented into specialty chemicals and advanced polymers. However, the chemicals on the other hand are sub-categorized into corrosion, biocides and scale inhibitors, pout-point depressants and surfactants. Key applications of all these products comprises in drilling fluid, fracking, cementing, well stimulation, improved oil recovery, production chemicals and completion fluids.
These are some of the interesting things to note about the turnaround and rise of oilfield industry and the role of oilfield chemicals in it.
