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US oil field chemicals need maintain a healthy growth trend

Promulgator: Guangrao Liuhe    Send date: 2015-12-11 09:31


The famous industry market research firm the Freedonia Group Limited recently pointed out in a recent research report "in the United States, oil field chemicals demand in 2019 is expected to increase to $10 billion 300 million,though the United States oil field chemicals demand dropped in 2015 and 2016, still maintain a healthy growth.

 

While lower oil prices in 2015 led to a sharp reduction in exploration and development spending, but the industry believes that the oil price will rebound in 2019, which will be used in drilling, completion, cementing, hydraulic fracturing and improve the recovery of crude oil recovery (EOR) demand for chemicals.

 

    In addition, the United States unconventional oil and gas mining boom in the global scope to change the supply and demand balance, and led to a sharp drop in oil prices. Freedonia Group Co. analyst Jason Carnovale pointed out that unconventional oil and gas exploration significantly enhance the oilfield chemicals market demand, but also boost the development of the market.
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