Freedonia In The News
Article Title: World Demand for Oilfield Chemicals
Publication: Construction Equipment Guide, 4/5/2015
Freedonia Study: World Oilfield Chemicals (3249)
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World demand for oilfield chemicals is forecast to increase 6.0 percent per year to $33 billion in 2019 as technological advances and a healthy level of oil and gas exploration and development activity drive gains. While the decline of oil prices in the second half of 2014 constituted a notable setback, the underlying factors that led to rapid growth in chemical demand will foster a strong rebound by 2019 and will continue to support gains thereafter. The best opportunities will exist for products such as advanced drilling fluids and well stimulation chemicals. The need for more environmentally friendly chemicals will continue to impact the market in many countries. These and other trends are presented in World Oilfield Chemicals, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
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