As with all industries and economic sectors, the production chemicals service industry is driven by global demands. These demands have changed over time and continue to change to respond to real-time issues such as disruptions in the supply chain, changes in the demand for oil and gas, and the problems with manufacturing and production around the COVID-19 pandemic.
With that noted, there is an increasing demand for crude oil production throughout the world. This is driving the upward trend in North America, which has steadily increased since 2011. This demand for crude oil has increased oilfield activity, creating a demand for oilfield chemicals.
One significant change in the production chemicals service industry is the move to more eco-friendly options in chemicals. Top companies have already reduced or eliminated the use of some of the potentially problematic chemicals, which helps reduce the public’s resistance to the harvesting of shale oil and gas reserves.
The careful formulation of these surfactants used in drilling and fracking provides more effective solutions for the process. At the same time, it also provides a safer site during and after fracking and drilling are completed.
New breakthroughs in the formulation of corrosion and scale inhibitors are another key area of change in the industry. These chemicals are effective in extending the life cycle and the durability of pipes and vessels used in all types of drilling and production.