The industries worldwide are promoting efficient well-site operations that allow maximum recovery of oil and gas reserves in a cost effective manner. Furthermore achieving greater oilfield productivity and efficiency ensure minimum wastage and reduced impact on the environment. Specialty oilfield chemicals are used in imparting unique capabilities and functionalities to the well-site operations that help to overcome the problems plague oil and gas wells throughout their lifetimes. Thus, the specialty oilfield chemical market is expected to prosper in the coming years to meet the rising demand for efficient exploration and production processes.
The well-site operations such as well drilling, completion, treating and workover fluids can perform to their greatest due to the added properties and functionalities by the specialty oilfield chemicals. Emulsion breakers (Demulsifiers) and corrosion inhibitors are mainly two most important types of specialty oilfield chemicals used in the industries. Significant quantities of water enter into the oil produced from the oil process either naturally or during injection processes. Presence of water and other chemical compounds such as carbon dioxide, hydrogen sulphide cause corrosion of the equipments and pipelines used to carry the produced oil. Emulsion breakers are used to separate oil and water from crude oil water emulsions. Hence, such agents help in increasing the export value of the crude oil. Chemicals such as ethylene amines are used in the manufacturing of corrosion inhibitors that inhibit corrosion of mild steel equipments in any aqueous medium. There also chelates such as nitrilo tri acetic acid, ethylene diamine tetra acetic acid among several others that are used in cement retardation process. In addition chelates are used with acids to prevent re-precipitation of ferric scales and re-dissolve other unwanted metal scales such as BaSO4, CaCO3, and SrSO4.
The improvement of the specialty oilfield chemical market is stimulated by the growing energy demand and developing unconventional resources and offshore prospects. In addition use of such chemical agents prolongs the life of the industrial equipments by removing the deposited unwanted metal scales that intervene with machine operations. Thus, minimizing the maintenance cost of the equipments. The factor intervening with such market development is huge investments involved in research and increased prices.
Following the mid-1980 oil crisis, the demand for specialty oilfield chemicals has increased on global basis to ensure optimum oil and gas recovery and minimize energy demand and supply gap. The global specialty oilfield chemical market growth is expected to be over USD 1 billion by 2020 owing to the rising demand for such chemicals in fracking processes. The U.S. is likely to provide significant benefits to such market development as a result of the ongoing shale gas production in the nation. Hence, in North America the specialty oilfield chemical market expansion is assumed to be the largest among other regions. In Asia Pacific, the expanding economies especially China is likely to promote such market growth due to the huge investments of the Chinese government to meet its energy needs. The Middle East is one of the largest markets for crude oil applications such as oil-based power plants, petro refineries, sludge oil treatment and several others. Thus, in rest of the world the Middle East is expected to be suitable for specialty oilfield chemical market growth. With the newly discovered oil and gas wells in Europe, the demand for specialty oilfield chemicals is expected to rise in Germany and France. However the prevailing economic recession in Europe is assumed to result in slow development of such market in the estimated period.
The specialty oilfield chemical market segmented on the various types of chemicals used. Drilling fluids are used to lubricate drill bits. In addition such chemicals facilitate controlled pressure formation and remove formation cuttings. Stimulation of the oil and gas wells is a frequent process. Stimulation techniques such as acidizing and fracturing are used in such processes. For cementing of steel pipes or casings to the sides of the borehole, cementing chemicals are suitable.
The key players in the specialty oilfield chemical market are Dow Chemicals Co., BASF SE, The Lubrizol Corporation, Stephan Company, and Azko Nobel N.V.