Freedonia In The News
Article Title: U.S. Oilfield Chemicals Demand to Reach $10.5 Billion in 2017
Publication: Upstream Pumping Solutions, 8/21/2014
Freedonia Study: Oilfield Chemicals (3065)
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Demand for oilfield chemicals in the U.S. is forecast to increase 2.1 percent annually through 2017 to $10.5 billion. Strong growth is driven by increasing drilling activity, production and the use of technologies such as hydraulic fracturing and enhanced oil recovery (EOR). New technologies have transformed the market for oilfield chemicals during the past decade. Techniques—including pad drilling, horizontal drilling and multistage hydraulic fracturing—allow for shale gas and tight oil play development. The increase of activity in unconventional resources has led to improvement in the country’s oil and gas outlook and an increased need for oilfield chemicals. Moving forward, the industry will contend with evolving technology, the potential for ongoing chemical product shortages, and a challenging environmental and regulatory environment. Chemical suppliers must provide high-performance products with an increased environmental friendliness.
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