Global Viscosifiers (Oil & Gas) Market: Overview
The global demand for viscosifiers has increased by leaps and bounds as the oil and gas industries encapsulate new technologies and systems. The global viscosifiers (oil and gas) market is at an important junction in its journey to acquiring seamless revenue growth. The oil and gas industries are amongst the most investment-heavy sectors across the globe. The high bar of investments made towards oil exploration and digging has created a plethora of opportunities for market expansion. Furthermore, the quest of oil manufacturers to induct spotless and hassle-free technologies has also enabled the inflow of fresh revenues into the global viscosifiers (oil and gas) market. The worth of this market is increasing with advancements in filtration technologies deployed across boreholes and excavation sites.
The global viscosifiers (oil and gas) market is slated to power several other industries and sectors in the times to follow. This review assesses the progressive growth in the relevance of oil exploration operations. Furthermore, the unprecedented value of minimizing resource losses has also recalibrated the attention of the masses towards viscosifiers (oil and gas). The ongoing pandemic situation has caused a setback across several industries including the oil and gas sector. However, the viscosifiers (oil and gas) market is gradually recovering from the shocks of global economic slowdowns.
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Global Viscosifiers (Oil & Gas) Market: Competitive Landscape
The growing importance of waterborne drilling fluids in the oil and gas industries offers a sound opportunity to the vendors operating in the viscosifiers (oil and gas) market. These vendors can collaborate with service providers of waterborne drilling fluids in order to offer the benefits of increased liquid flow during drilling operations. The domain of water retention also holds value across the oil and gas industry. Therefore, the ability of viscosifiers (oil and gas) to ease retention capabilities and pseudoplasticity also offers a sound opportunity for growth to the market players.
The construction industry also involves the use of drilling machines and systems for assessing the favourability of construction land. The presence of moist soils and water across construction landscapes gives a sound opportunity to the vendors operating in the global viscosifiers (oil and gas) market. Some of the key players existing in the global viscosifiers (oil and gas) market are BASF, Imdex Limited, Baroid Industrial Drilling Products, The Dow Chemical Company, Clariant, Halliburton, Croda International Plc, and Proec Energy Limited.
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Global Viscosifiers (Oil & Gas) Market: Key Trends
Investments in oil-based research and exploration by government entities has also created a wide playfield of opportunity for market growth. Several regions such as the Middle East and Europe have witnessed the development of new sites and ports for oil exploration. The need for increasing the viscosity of liquids studied and extracted across these regions has propelled demand across the global viscosifiers market. The oil and gas industries work in tandem with several other industries, furthering the need for oil industry-related technologies.
Use of viscosifiers in key commercial industries such as personal care, paints, and adhesives is also redefining the growth dynamics of the global viscosifiers market. In addition to this, the unprecedented value generated by viscosifiers in mining of chemicals and extraction of paper pulp has also driven market demand. The pharmaceutical industry is another important arena that is gradually encapsulating the use of viscosifiers. These trends do not make up for the fact that the growth of the viscosifiers market is largely fuelled by advancements in the oil and gas sectors.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.