IHS: Shale plays driving demand for oil field chemicals

02/13/2012
The global market for oil field specialty chemicals reached nearly $16 billion in 2010 with the US and Canada accounting for 52%, which an IHS Chemical market study attributed to increasing oil and natural gas drilling activity in shale plays. The IHS Chemical 2012 Oil Field Chemicals Report (formerly from SRI Consulting), forecast that world demand for oil field chemicals will rise at an average rate of 3.5% during the next 5 years with sales expected to increase to almost $19 billion by 2015. Regarding 2010 demand, Latin America was second at nearly $1.8 billion of sales with much of that demand coming from Brazil. Despite global economic uncertainty, the oil field chemical market grew ...
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