Cementing Accessories Market Forecast And Growth 2018-2028

Posted by vakhas on February 14th, 2019

Market Introduction

Cementing accessories are widely used in the oil and natural gas industry in order to provide an ease in the cementing operation and prevent the flow of fluid between subsurface formations. Cementing accessories are used in order to provide various functions such as consistent delivery of slurry, reducing the possibility of fluid contamination, and reducing the rate of failure through operational redundancy. Cementing accessories are primarily used in the casings for different applications, such as casing attachments, casing packers, stage cementing accessories, and others. Cementing accessories are categorized by the different types available in the market.

Different types of cementing accessories, such as float collars, float shoes, cementing plugs, and cement retainers, among others, are used in the cementing process in oilfield drilling. Cementing accessories such as cementing baskets are manufactured using rubber and steel ribs, and have applications such as the prevention of slurry contamination. Cementing accessories have different functions depending on which they are categorized: centralizers, turbolizers, and scratchers.

Centralizers in cementing accessories are used in order ensure the efficient placement of cement while holding the casing in the center of the well bore. Turbolizers in cementing accessories help in keeping the cement flow turbulent in order to avoid the channeling effect. Scratchers in cementing accessories help in removing the mud in order to obtain the required cement structure.

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Market Dynamics

The cementing accessories market is expected to witness steady growth in the coming years, owing to the increasing cement production. Growth in the oilfield exploration activities is expected to drive the cementing accessories market in the near future. Increasing exploration activities are expected to create a significant growth opportunity for the sales of cementing accessories in the near future. The low costs of cementing accessories are expected to help in the growth of the cementing accessories market. Reduction in the natural resources of crude oil is expected to retard the sales of the cementing accessories market in the near future.

Regional Outlook

The cementing accessories market is expected to witness decent growth in the North American region in the coming years. North America accounts for a prominent share in global oil production, which is growing at a steady growth rate. Owing to the growing production of oil, the demand for cementing accessories is expected to grow at a steady rate. The European region has a well-established oil and natural gas industry, which is growing at a moderate rate.

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The growth of the oil and natural gas industry in Europe is expected to drive the demand for cementing accessories in the near future. The Middle East and Africa is a high potential market in terms of oil and natural gas production. The cementing accessories market is thus expected to have a steady growth in the Middle East and Africa, owing to the demand from the moderately growing oil and natural gas industry.

The sales of cementing accessories is expected to have a higher growth rate in the Latin American region in the coming years. Latin America has witnessed a higher growth rate in the production of oil and natural gas. The growing oil and natural gas production in Latin America is expected to drive the cementing accessories market in the near future. The APEJ region is expected to be a high potential market for the growth of cementing accessories in the coming years, owing to the growth in the production of oil and natural gas in China, and some countries in South East Asia such as Malaysia and Vietnam.