Arctic Region Holds Potential for Well Cementing Market Growth

The growth of the well cementing market is driven by the increasing exploration and production (E&P) in unconventional and conventional oil and gas reserves to adhere to the surging demand for energy products, such as liquified petroleum gas (LPG), aviation turbine fuel, compressed natural gas (CNG), gasoline, fuel oil, piped natural gas, heating oil, and gas oil. Due to this factor, the market is expected to reach $10,065.4 million by 2024 from $7,577.6 million in 2018, showcasing a CAGR of 4.7% during the forecast period.