The global demand for well cementing is expected to expand significantly in 2021, according to a recent Fact.MR analysis. As the COVID-19-induced slowdown fades, the well cementing business is picking up speed. The well cementing industry analysis report includes historical data from 2016 to 2020, as well as forecasts for 2021 to 2031.
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The well-cementing market is segmented on the basis of product outlook, application and cement composition.
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The global market for well cementing is segmented into seven regions: North America (USA, Canada), Europe, Middle East and Africa (GCC Countries), East Asia (Japan, South Korea, and China), South Asia (India, Thailand, Malaysia, Indonesia, and Rest of South Asia), Oceania (Australia, New Zealand) and Latin America (Brazil, Mexico).
Amongst all regions, Middle East and Africa is estimated to account for a significant market share due to an upsurge in the industrial activities in GCC, such as Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE).
Since 50% of the world’s oil reserves are located here, this region is the most important geographical zone in case of well-cementing market. Following Gulf countries, Russia and USA region account for a significant share of the well cementing market.
The key players of global well-cementing market are as follows
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