The market for oil and gas water treatment chemicals is expected to register a CAGR of over 4% during the forecast period. Rising shale gas extraction leads to water contamination, as a result driving the oil & gas water treatment chemicals market. The expansion of oil refineries across the world is also likely to boost the demand for oil and gas water treatment chemicals.
Availability of technological alternatives for water treatment is likely to act as restraint to the market studied. Shifting focus toward the usage of green chemicals is likely to provide opportunities for market growth in the future. North America is likely to witness the highest growth rate during the forecast period.Key Market TrendsScale and Corrosion Inhibitors to Dominate the Market
Corrosion inhibitors, when added in small amounts to the corrosive medium, reduce its corrosiveness in considerable measures. These products are extremely efficient even with very low dosage and sufficiently inert to avoid altering the physico-chemical properties of oil. Hence, in the oil and gas industry, they are used in reinjection wells, gas plants, transportation lines, barges, etc., as their usage reduces costs and extends the working life of capital assets, such as process equipment, pipelines, and storage tanks. Scale inhibitors are added during the secondary recovery of oil. These chemicals improve oil and gas flow, by preventing scaling without causing any change in the crude oil characteristic. The usage of scale inhibitors in the oil and gas industry helps the systems maintain scale-free surfaces in pipe walls, heat exchangers, and valves. The oil and gas industry is one of the largest users of scale inhibitors with the majority of demand coming from Middle East & Africa. The oil and gas sector of India is also witnessing significant growth, and hence, scale and corrosion inhibitors are likely to dominate the market.North America to Witness the Highest Growth Rate
North America dominated the global water treatment chemicals market share. This can be attributed to the presence of a large number of mining, oil and gas, and power generation activities in the United States. The United States was the single largest producer and consumer of natural gas, and particularly shale gas, accounting for a large chunk of global capacity. Adopting the new technologies and chemicals, the major producers of shale gas are increasing the production output from their existing fields as well. Some of the newly developed technologies are artificial lift systems and enhanced oil recovery. As per the forecast of EIA, the production of Shale Gas in the United States is projected to be 23,212 billion cubic feet by 2020, registering a CAGR of 10.24%, over the period of 2018-2020, which, in turn, will lead to the increasing demand for water, for operations. The significant growth in shale gas exploration and production, along with the recovery in the mining outputs, in the country, is expected to support the consumption of industrial water treatment chemicals at a steady rate during the forecast period. Canada has a large reserve of oil sands and with the steady higher prices of crude oil in the market, the production of crude from oil sands has become viable. This is also expected to drive the market of oil & gas water treatment chemicals in the region. Hence, owing to the aforementioned reasons, North America is likely to witness the highest growth rate during the forecast period.Competitive LandscapeThe market for oil and gas water treatment chemicals is partly fragmented, as the market share is divided among several key players. Some of the key players of the market include Avista Technologies Inc., Chemtex Ltd, DuPont de Nemours, Inc., Veolia Water Technologies, and Kurita Water Industries Ltd, among others.
Reasons to Purchase this report: The market estimate (ME) sheet in Excel format Report customization as per the client\'s requirements 3 months of analyst supportTable of Contents1 INTRODUCTION1.1 Study Deliverables1.2 Study Assumptions1.3 Scope of the Study2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY4 MARKET DYNAMICS4.1 Drivers4.1.1 Rising Shale Gas Extraction Leading to Water Contamination4.1.2 Expansion of Oil Refineries across the World4.2 Restraints4.2.1 Availability of Technological Alternatives for Water Treatment4.3 Industry Value Chain Analysis4.4 Porter\'s Five Forces Analysis4.4.1 Bargaining Power of Suppliers4.4.2 Bargaining Power of Consumers4.4.3 Threat of New Entrants4.4.4 Threat of Substitute Products and Services4.4.5 Degree of Competition本文链接: http://arieschem.immuno-online.com/view-781502.html