Oilwell cement is used for cementing onshore and offshore wells under high temperature and pressure. The main components of oil well cement are portland or pozzolanic cement along with organic retarders. These organic retarders prevent the cement from setting too quickly. It is made under strict quality adherence systems, and thus is widely preferred by organic waste converter manufacturing organizations. Oilwell cement is ideal for use in the oil and gas industry, and its main function is to make wells function properly. It plays a significant role in improving the overall efficiency and productivity of drilling operations.
Increasing demand for oil & gas across the globe due to rapidly increasing population and growing demand for fuel supplement the market growth. Moreover, increasing use of oil well cement as insulator in oil wells due to its high dielectric strength is expected to boost the market during the forecast period.
In addition, various characteristic properties of oil well cement such as high temperature and pressure resistivity coupled with long setting time make it ideal for use among oil extraction companies. Furthermore, increasing production of oils across the globe along with its rising demand especially in developing regions such as Asia-Pacific and LAMEA are some of the other key aspects bolstering the market growth during the forecast period. However, volatile prices of raw materials along with surge in the number of oil well cement manufacturers could hamper the market growth in the near future. However, increasing investments in R&D activities in the sector along with growing demand for oil well cement especially in Canada and the Middle East countries are expected to present lucrative opportunities during the forecast period.
The global oil well cement market is segmented on the basis of type, application, and geography. On the basis of type, the market is segmented into grade 0, high sulfate resistant, and moderate sulfate resistant. On the basis of application, the market is segmented into onshore and offshore. On the basis of geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market have adopted key strategies such as mergers, acquisitions, collaborations, and partnerships to strengthen their market outreach and sustain the stiff competition in the market.
Key Market Players
- Dalmia Cement
- Les Ciments Artificiels Tunisiens S.A.
- J K Cement
- Grasim Industries and Ultra Tech
- Interbulk Trading Italcementi Group
- Soro Cements
- This report provides a quantitative analysis of the current trends, estimations, and dynamics from 2016 to 2023 to assist in identifying the prevailing market opportunities.
- The major countries in each region have been mapped based on their market revenues.
- This study evaluates the competitive landscape to understand the competitive environment across geographies.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
Oil Well Cement Market Key Segments:
- Grade 0
- High Sulfate Resistant
- Moderate Sulfate Resistant
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA