Oil Well Cementing Market Scope
Oil Well Cementing comprises Portland or pozzolanic cement with special organic retarders that prevent the cement from setting too quickly in an oil well or gas well. Oil-well cement ought to be slow-setting and should withstand the high temperatures and pressures of the deep wells. It improves the efficiency and productivity of oil-well drilling processes. In addition, oil well cement also provides good liquidity and compactness in filling the void between the casing and the borehole, zone isolation, hydraulic seal, hold casting, and completion string. Owing to the increase in production from offshore reserves coupled with rising developments in the oil well and gas industry, there is substantial growth in the oil well cement market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Buzzi Unicem USA (United States), HeidelbergCement AG (Germany), Anhui Conch Cement Co. Ltd (China), LafargeHolcim (Switzerland), Cemex SAB de CV (Mexico), TPI Polene Public (Thailand), Buzzi Unicem SpA (Italy), Raysut Cement Co. (Oman), Kerman cement (Iran) and Colacem SpA (Italy)|
By upgrading its oil well cementing capabilities and environmentally sustainable approaches, major companies are cultivating their position in the market. With the increase in the adoption of automation and environment-friendly initiatives, many companies form strategic partnerships to gain a competitive advantage and market share and to establish a robust market presence. Research Analyst at AMA estimates that European Vendors will contribute to the maximum growth of Global Oil Well Cementing market throughout the predicted period.
Buzzi Unicem USA (United States), HeidelbergCement AG (Germany), Anhui Conch Cement Co. Ltd (China), LafargeHolcim (Switzerland), Cemex SAB de CV (Mexico), TPI Polene Public (Thailand), Buzzi Unicem SpA (Italy), Raysut Cement Co. (Oman), Kerman cement (Iran) and Colacem SpA (Italy) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Omran Anarak Cement Co. (Iran), Cebo International BV (Netherlands), Kardisi Co (Syria) and Dalmia Bharat Ltd. (India).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Oil Well Cementing market by Type , by Application (Onshore and Offshore) and Region with country level break-up.
On the basis of geography, the market of Oil Well Cementing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesOn 16 September 2022, Holcim closed the sale of Ambuja Cement and Ambuja’s subsidiary ACC to the Adani Group, resulting in cash proceeds of USD 6.4 billion. Through this transaction, the company strengthened its balance sheet which enables the company to continue its acquisition strategy, building on recent investments in solutions & products.
On 26 April 2021, ASF partnered with Omya for the advancement and commercialization of BasoSphere, hollow glass microsphere for cementing applications in the oil and gas industry. This partnership enhanced the company’s offering to the global oil and gas industry.
Influencing Trend:Developments in the innovative lightweight slurry in oil well cementing operations
Market Growth Drivers:Rising innovation in oil well and gas industry and Increasing application of industrial and agro wastes in cement-based materials
Challenges:Rising prone to super retarding cement slurry and gas channeling for cementing
Restraints:Major environmental concerns associated with cement
Opportunities:Utilization of nano-silica in the improvement of cement capabilities and performance
Key Target AudienceCement manufacturers and suppliers, Oil Well and Gas Industry, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others