Global Oil Well Cement Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Oil Well Cement Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Oil well cement is used in drilling oil and gas wells. Oil well cement is used for oil well grouting, sometimes referred to as oil well cementing. It consists of Portland cement or mixed cement plus additives. Oil well cement must be slowly set and able to withstand the high temperatures and pressures of these deep wells. This process plays an important role in drilling operations. The cement is mixed with water and additives to form a slurry which is then pumped into a well around the casing, which is a large tube inserted into a new borehole.

Market Overview:

The latest research study on the global Oil Well Cement market finds that the global Oil Well Cement market reached a value of USD 914.71 million in 2022. It’s expected that the market will achieve USD 1126.47 million by 2028, exhibiting a CAGR of 3.53% during the forecast period.

Drivers

With the development of economy and industrial technology, the production technology of Oil Well Cement Additive is gradually stable, and the production capacity of the industry is gradually increasing. Oil Well Cement Additive has a potential consumer market in these countries with the continued development and promotion of downstream applications.
Europe is the largest market for Oil Well Cement Additive, with advanced research and development technologies and products with good purity and quality.
As an economically developed region, the United States has diversified distribution channels and high-end research and technology.

Limitations

Due to the chemical nature of some additives, there are certain hazards to the environment and the human body. As well as the downstream application industry of oil well cement additives, the oil and natural gas industries have a bad influence on the environment. The global environmental pollution problem has become more and more serious. For chemical industries, many countries have strict environmental protection regulatory policies, especially in Europe, America, and Japan. Emerging countries such as China are also increasingly focusing on environmental issues.

Region Overview:

From 2022-2027, Europe is estimated to witness robust growth prospects.

Company Overview:

The top three companies are BASF, Sika AG and AkzoNobel with the revenue market share of 13.16%, 11.37% and 11.08% in 2017.

BASF SE operates through five segments: Chemicals, Performance Products,

Functional Materials & Solutions, Agricultural Solutions, and Oil & Gas. The Chemicals segment offers solvents, plasticizers, monomers, and glues, as well as raw materials for detergents, plastics, textile fibers, paints and coatings, crop protection products, and medicines. The Performance Products segment provides dispersions and pigments, care chemicals, nutrition and health products, and performance chemicals that are used in pharmaceuticals, personal care products, and cosmetics, as well as hygiene and household products.

Sika AG, a specialty chemicals company, develops, produces, and sells systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry worldwide. It develops and markets various admixtures and additives for use in concrete, cement, and mortar production; and single-ply and built-up flat roofing systems.

Segmentation Overview:

Among different product types, Fluid Loss Additives segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Oil Well segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Oil Well Cement market covered in Chapter 3:

Aubin Group
Cpchem
BASF
Halliburton
Schlumberger
Sika AG
AkzoNobel

In Chapter 4 and Chapter 14.2, on the basis of types, the Oil Well Cement market from 2018 to 2029 is primarily split into:

Fluid Loss Additives
Dispersants
Retarders
Defoamers
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Oil Well Cement market from 2018 to 2029 covers:

Oil well
Gas well

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)