Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11 Billion | USD 14.98 Billion | 3.15% | 2021 |
FrequentlyAsked Questions
The global specialty oilfield chemicals market is projected to grow owing to the increasing construction of oil & gas refineries where these compounds are used extensively to help maintain the structure for a longer time which directly impacts the quality of oil produced. Since specialty oilfield chemicals protect against corrosion they are highly preferred among players in this sector.
According to study, the global specialty oilfield chemicals market size was worth around USD 11 billion in 2021 and is predicted to grow to around USD 14.98 billion by 2028 with a compound annual growth rate (CAGR) of roughly 3.15% between 2022 and 2028.
The global specialty oilfield chemicals market is projected to grow owing to the increasing demand for oil & gas and the rise in investment in the sector which may be amped up in the coming years as a counteractive measure against Russia and the changing political dynamics.
The global specialty oilfield chemicals market is led by players like Akzo Nobel NV, Solvay, Huntsman International LLC, SMC Oilfield Chemicals, BASF SE, and KMCO LLC amongst others.
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