Market Size of Europe Oilfield Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Oilfield Chemicals Market Analysis
The Europe oilfield chemicals market is expected to record a CAGR of over 5% during the forecast period.
- COVID-19 negatively impacted the market in 2020. The nationwide lockdowns and stringent social distancing mandates led to supply chain disruptions across different market segments. However, the market is expected to grow steadily owing to increasing investments in exploration and drilling and demands for energy in the European region.
- The major factors driving the market studied are the increased shale gas exploration and production and the rising demand for petroleum-based fuel from the transportation industry. Environmental sustainability in shale gas extraction is expected to hinder the market's growth. New horizons opened up due to offshore drilling operations are likely to act as an opportunity in the future.
