WorldWide Drilling Resource

Oilfield Chemicals Industry on the Rise Adapted from Information by Markets and Markets According to a recent Markets and Markets report, the market size of oilfield stimulation chemicals is projected to reach $2.97 billion by 2020, signifying a growth rate of 10.1% between 2015 and 2020. The rapid expansion of shale gas and oil reserves in North America is leading to significant changes in the oilfield chemicals market. Current advances in horizontal drilling, hydraulic fracturing, availability of water, and mineral rights licensing are con- tributing to the rapid development of shale gas and oil reserves in the NorthAmerican region. This is driving the growth of the oil- field stimulation chemicals market. There is significant increase in the activity level across all oilfield chemical sectors such as drilling fluids, cementing, stimulation, and production chemicals. This increasing activity in shale oil and gas reserves has also resulted in consumption of higher volumes of drilling and cementing chemicals. Although North America is projected to remain the largest regional market for oilfield chemicals, the Asia-Pacific region, led by China, is likely to overtake North America as the fastest-growing market. China’s massive demand for energy is likely to drive the country’s exploration activities and development of its huge uncon- ventional energy resource, especially natural gas. China is followed by Indonesia, India, and Malaysia, where consumption is growing at a steady rate. Among the various important product types of oilfield stimulation chemicals, gelling agents dominated the market with 34% in terms of value of the total oilfield stimulation chemicals market share in 2014. Surfactants are another key prod- u c t s e gme n t , which is projected to grow signi f i - cantly between 2015 and 2020. Other produc t types of oilfield stimulation chem- icals, such as friction reducers, corrosion and scale inhibitors, and others, are also projected to grow at a considerable rate in the near future. The U.S. and China are at the forefront, while Canada, Mexico, Poland, and Germany are the other key markets for oilfield stimulation chemicals consumption. Photo of wellheads hooked up in preparation for a hydraulic fracturing operation at a drill pad in the Fayetteville Shale gas play in Arkansas, courtesy of the United States Geological Survey, by Bill Cunningham. 13+- 1'#3(+4* 1'#3(+4* 0-+&#: // #/& 0/7'/5+0/ '/5'3 *0/' < 03 300. $00,+/) 64' )3061 %0&' " 888 *0-+&#: +// %0. 41'#3(+4*4& #.'4 % 6-5: < $+58%0/('3'/%' ).#+- %0. 06) 0: < &06)* 4#:3'#440%+#5'4 %0. 03 .03' +/(03.#5+0/ 03 50 3')+45'3 0/-+/' )0 50 $+58%0/('3'/%' 03) !'%*/+%#- 4'44+0/4 < $#/26'5 < -+7' 4%*0-#34*+1 #6%5+0/ < '9*+$+503 $005*4 8+5* 5*' -#5'45 +/ $-#45+/) 5'%*/0-0): #/& 130&6%54 < -6/%* < &003 13+;'4 < #/& .6%* .03' '' :06 5*'3' ')+45'3 08 Congratulat ions to: Emi ly Hampton FLOGISTIX Pampa, TX Winner for January! Time for a Little Fun! January Puzzle Solution: E & M Supply Group Gus Pech Mfg. Co, Inc. Can you identify which ads in this issue these two photos came from? Win a prize! Send your completed puzzle to: WWDR PO Box 660 Bonifay, FL 32425 or fax to: 850-547-0329 _______________ _______________ 39 WorldWide Drilling Resource ® FEBRUARY 2016