Global Oilfield Chemicals Market By Type (Gellants & Viscosifiers, Biocides, Lubricants/Friction Reducers, Rheology Modifiers, Corrosion & Scale Inhibitors, Demulsifiers, Scavengers, Polymers, Fluid Loss Additives, Surfactants, Foamers, Pour Point Depressant, Others), Application (Upstream, Midstream, Downstream), Location (Onshore, Offshore), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Oilfield Chemicals Market
Global oilfield chemicals market is expected to register a substantial CAGR of 6.39% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the reduction in operations of oilfield drilling and oil extractions with the usage of these chemicals.
Market Definition: Global Oilfield Chemicals Market
Oilfield chemicals are certain chemical compounds that are used in improving the effectiveness and efficiency of operations associated in an oilfield site. The operations under which these chemicals find their application are drilling, production, completion and several other operations. These chemicals are used in the purification of equipment, machines, oil itself and the oil sites.
- High demand for petroleum-based products, and a rise of petroleum as a fuel from the automotive industry is one of the major factors driving the growth of the market
- Increasing usage and demand for shale gas from the various industry verticals; this factor is expected to drive the growth of the market
- Rise in the levels of urbanization and population boom globally; the market is expected to be positively affected
- Growth in the adoption of clean and green energy sources; this factor is expected to restrain the growth of the market
- High costs associated with disposal of these chemicals amid concerns and presence of regulations regarding the usage of environmental-harming chemicals; this factor is expected to restrain the growth of the market
Segmentation: Global Oilfield Chemicals Market
- Gellants & Viscosifiers
- Lubricants/Friction Reducers
- Rheology Modifiers
- Corrosion & Scale Inhibitors
- Fluid Loss Additives
- Clay Stabilizer
- Production chemicals
- Workover & Completion
- Production Pipelines
- Well Stimulation
- Enhanced Oil Recovery (EOR)
- Flow Assurance
- Cargo Additives
- Water Treatment Chemicals
- Desalting Chemicals
- Slop Oil Movement
- Petrochemical Additives
- Refinery Process Chemicals
- Refinery & Finished Fuel Additives
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In June 2018, Clariant announced that construction of their facilities situated in Clinton, Oklahoma, United States had been completed. The facility located in a strategic location is expected to meet the growing demand from the Mid-Continental region for oil and gas industry solutions. The facility provides analytical services and solutions designed to improve efficiency and operations of the oil and gas industry.
- In July 2017, Baker Hughes announced that they had agreed to be acquired by General Electric, merging it with its own oil and gas equipment and services. This acquisition will enhance the operations and servicing of General Electric for oilfield services. The newly formed organisation will be known as Baker Hughes, a GE company LLC and become the second largest provider of global oilfield services.
Competitive Analysis: Global Oilfield Chemicals Market
Global oilfield chemicals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of oilfield chemicals market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Oilfield Chemicals Market
Few of the major competitors currently working in the global oilfield chemicals market 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.
Research Methodology: Global Oilfield Chemicals Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved