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Global Oilfield Chemicals Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220
  • Chemical and Materials
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Oilfield Chemicals Market, By  Type (Gellants and Viscosifiers, Biocides, Lubricants/Friction Reducers, Rheology Modifiers, Corrosion and Scale Inhibitors, Demulsifiers, Scavengers, Polymers, Fluid Loss Additives, Surfactants, Foamers, Pour Point Depressant, Others), Application (Upstream, Midstream, Downstream), Location (Onshore, Offshore) – Industry Trends and Forecast to 2029

Oilfield Chemicals Market

Market Analysis and Size

Oil and Natural Gas Corporation (ONGC) is estimated to invest US$ 2.73 billion in drilling oil and gas wells in 2019, according to India Brand Equity Foundation (IBEF). The increased oil and gas exploration and developments in deep-water drilling operations will further boost demand for oilfield chemicals during the projection period. Therefore, the significant expansion in oil and gas exploration projects is expected to enhance the demand for oilfield chemicals.

Global Oilfield chemicals Market was valued at USD 24.27 billion in 2021 and is expected to reach USD 32.45 billion by 2029, registering a CAGR of 3.70% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Type (Gellants and Viscosifiers, Biocides, Lubricants/Friction Reducers, Rheology Modifiers, Corrosion and Scale Inhibitors, Demulsifiers, Scavengers, Polymers, Fluid Loss Additives, Surfactants, Foamers, Pour Point Depressant, Others), Application (Upstream, Midstream, Downstream), Location (Onshore, Offshore)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

BASF SE (Germany), Clariant (Switzerland), Dow. (U.S.), Halliburton (U.S.), Schlumberger Limited (U.S.), Nouryon (Netherlands), Baker Hughes Company (U.S.), Kemira (Finland), Huntsman International LLC (U.S.), Croda plc (U.K.), Albermarle Corporation (U.S.), Chevron Philips Chemical Company LLC (U.S.), Innospec (U.S.), NOV Inc., (U.S.), Geo (U.S.),  KRATON CORPORATION(U.S.), Thermax Limited(India), Oleon N.V. (Belgium), Ashland (U.S.), PureChem Services (Canada), Stepan Company (U.S.), Elementis plc (U.S.)

Market Opportunities

  • Emergence of eco-friendly oilfield chemicals
  • Technological development and collaborations

Market Definition

Oilfield chemicals are certain chemical compounds used to improve the effectiveness and efficiency of operations associated in an oilfield site. These chemicals find their application under drilling, production, completion, and several other operations under these conditions. These chemicals are used in the purification of equipment, machines, oil itself and the oil sites.

Oilfield chemicals Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Surging Oil Production and Exploration

Oilfield chemicals are in high demand as oil production and exploration operations increase. Oilfield chemicals demand is predicted to rise further as shale oil and gas drilling and production expands and deep-water and ultra-deep-water drilling projects expand. Oil and Natural Gas Corporation (ONGC) is estimated to invest US$ 2.73 billion in drilling oil and gas wells in 2019, according to India Brand Equity Foundation (IBEF). Foreign investors are projected to have opportunities to engage in petroleum and natural gas projects worth US$ 300 billion in India by 2022, as the country seeks to reduce its dependency on oil imports by 10%. As a result, the demand for oilfield chemicals is likely to rise as oil and gas exploration projects increase over the forecast period.

  • Growth in Water Treatment Projects

Chemicals from the oilfield are used in the water treatment process. The current water supply must meet rising needs as the population grows. As a result, the chemical industry employs novel water treatment techniques to make water suitable for end-use applications such as industrial, cooking, irrigation, and drinking. According to the article 'Treated wastewater use in Saudi Arabia: challenges and initiatives,' Saudi Arabia has set a goal of using treated wastewater 100% of the time by 2025, with roughly 6.8 million m3 per day of treated wastewater expected to be available by 2035. As a result, an increase in the number of water treatment projects is predicted to raise demand for oilfield chemicals during the forecast period.

The rising global population and the increasing investments by the governments of several countries to improve the overall oil and gas infrastructure will also further propel the growth rate of oilfield chemicals market. Additionally, the research and development (R & R&D) activities conducted by numerous key players are projected to bolster the market's growth.

Opportunities

  • Growing Strategies and Eco-Friendly Chemicals

Furthermore, key players in the market are focused on adopting strategies such as technological development and collaborations, extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the emergence of eco-friendly oilfield chemicals will further expand the future growth of the oilfield chemicals market.

Restraints/Challenges

  • Environmental Concerns

In order to process oil, gas, and water gathered from reservoirs, a number of chemicals are used. This treated water contains a number of chemicals that, when released, can harm vegetation and fauna. These environmental concerns are projected to restrain the worldwide oilfield chemicals market during the forecast period. This factor is projected to impede the expansion of the oilfield chemicals industry.

  • Fluctuation in Crude Oil Prices

Crude oil is used as a raw material within the market. Therefore, the fluctuations in the prices of crude oil's raw material will prove to be a demerit for the oilfield chemicals market. As a result, this will challenge the oilfield chemicals market growth rate.

This oilfield chemicals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the oilfield chemicals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Oilfield chemicals Market

The outbreak of coronavirus had a negative impact on the oilfield chemicals market. The transformer oils market suffered devastation in various places, but it rose in medical care areas and emergency clinics to keep a steady flow of administrations in place to treat infected patients. Oils have an important role in the operation of many production and manufacturing processes. They assist in keeping up with the advancement of power so that market necessities and considerations are not hampered. Other modern places are likely to regain their value and importance as the world fights the pandemic with combined forces. The epidemic had a detrimental influence on market demand due to the lockdown and stoppage of industrial factories. The COVID-19 outbreak wreaked havoc on the oil and gas industry, resulting in a lockdown that impacted a wide range of end-use industries due to disruptions in vendor operations and supply chains. The production facilities have been severely hampered. Border closures and export limits have caused raw material prices and supplies to fluctuate.

On the brighter side, the global governments and competitive companies are increasing their market investments and money in numerous countries and locations around the world. This will improve the growth expansion chances for the oil field chemicals market share during the projection period.

Recent Development

  • In June 202, Royal Dutch Shell is reassessing its holdings in the United States' largest oil field in preparation for a possible sale, as the corporation seeks to focus on its most profitable oil-and-gas assets and grow its low-carbon initiatives. Shell owns about 260,000 acres in the Permian Basin, mostly in Texas, and the sale could be for a fraction of that.
  • In December 2020, The Kraton Company, the world's biggest sustainable producer of specialty polymers, oilfield chemicals, and high-value pine wood pulping co-product biobased goods, has extended its senior secured asset-based revolving credit facility.

Global Oilfield chemicals Market Scope

The oilfield chemicals market is segmented on the basis of type, application and location. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Gellants and Viscosifiers
  • Biocides
  • Lubricants/Friction Reducers
  • Rheology Modifiers
  • Corrosion and Scale Inhibitors
  • Demulsifiers
  • Scavengers
  • Polymers
  • Fluid Loss Additives
  • Surfactants
  • Foamers
  • Pour Point Depressant
  • Others

Application

  • Upstream
  • Midstream
  • Downstream

 Location

  • Onshore
  • Offshore

Oilfield Chemicals Market Regional Analysis/Insights

The oilfield chemicals market is analyzed and market size insights and trends are provided by country, type, application and location as referenced above.

The countries covered in the oilfield chemicals market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rise in the workover and completion and production sector applications and rise in the usage and demand for shale gas from the various industry verticals within the region.

On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rise in the usage and demand for shale gas from the various industry verticals, increase in the levels of urbanization and population within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Oilfield chemicals Market Share Analysis

The oilfield chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to oilfield chemicals market.

Some of the major players operating in the oilfield chemicals market are

  • BASF SE (Germany)
  • Clariant (Switzerland)
  • Dow. (U.S.)
  • Halliburton (U.S.)
  • Schlumberger Limited (U.S.)
  • Nouryon (Netherlands)
  • Baker Hughes Company (U.S.)
  • Kemira (Finland)
  • Huntsman International LLC (U.S.)
  • Croda plc (U.K.)
  • Albermarle Corporation (U.S.)
  • Chevron Philips Chemical Company LLC (U.S.)
  • Innospec (U.S.)
  • NOV Inc., (U.S.)
  • Geo (U.S.)
  • KRATON CORPORATION (U.S.)
  • Thermax Limited (India)
  • Oleon N.V. (Belgium)
  • Ashland (U.S.)
  • PureChem Services (Canada)
  • Stepan Company (U.S.)
  • Elementis plc (U.S.)


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This oilfield chemicals market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.
Global Oilfield Chemicals Market segmented By Application such as Upstream, Midstream, Downstream.
Asia-Pacific is the expected region in terms of growth in oilfield chemicals market due to rise in the usage and demand for shale gas from the various industry verticals, increase in the levels of urbanization and population in this region.
The major players covered in the oilfield chemicals market report are Akzo Nobel N.V.; Albemarle Corporation; Zirax Limited; BASF SE; Kemira; Solvay; Ashland; Baker Hughes, a GE company LLC; CES Energy Solutions Corp.; Clariant; Chevron Phillips Chemical Company; Flotek Industries, Inc.; Halliburton; Huntsman International LLC; Innospec Oilfield Services; Ecolab; Schlumberger Limited; Scomi Group Bhd; Dow; Stepan Company; Diamoco Group; EMEC; Gumpro Drilling Fluids Pvt. Ltd.; Chemiphase Ltd; Jiaxing Midas Oilfield Chemical Mfg Co., Ltd; Imperial Oilfield Chemicals Private Limited and AES Drilling Fluids among other domestic and global players