Oilfield stimulation chemicals include an extensive range of specialty chemicals intended to augment and support the stimulation process. Stimulation treatments are carried out in order to restore or improve the productivity of a well. Improvement in the productivity of the new flow channels results in better recovery of oil and gas from the targeted formation.
The global oilfield chemicals market size was valued at USD 19.93 billion in 2016. Growing product demand in various petroleum operations such as drilling, well stimulation, production, cementing, enhanced oil recovery, and hydraulic fracturing is expected to drive the market globally. The rising crude oil production, shift towards unconventional drilling operations and increasing complexity in operations is expected to drive the oilfield chemicals demand over the forecast period.