Oilfield Chemicals Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Oilfield Chemicals Market By Product Type (Corrosion & Scale Inhibitors, Demulsifier, Surfactants, and Others), Application Type (Drilling, Cement, Stimulation, and Production), and Geography

 

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Report

Description

The Oilfield Chemicals market is expected to be valued at USD 24,653.2 million in 2022 and is poised to grow at a significant CAGR of 3.5% over 2022–2028. Oilfield chemicals are chemical compounds used to enhance the efficacy and efficiency of activities at an oilfield site. Chemicals used in the oilfield are further used for production, drilling, completion, and many other operations. Oilfield chemicals are also used to purify equipment, machinery, the oil itself, and oil sites. These chemicals assist in the maintenance of a smooth-running oilfield, resulting in lower costs due to delays and slowdowns during the drilling process. These chemicals avoid the production of metal scales and minimalize the amount of water injected into oil wells throughout exploration and drilling, subsequent in a rise in demand for and use of oilfield chemicals. These wide ranges of usages of oilfield chemicals have primarily driven the growth of the market. Also, the increase in oil production and exploration activities pushes the demand for oilfield chemicals. The demand for oilfield chemicals is anticipated to rise over the forecast period, owing to increased oil & gas exploration with technological advancements in deep-water drilling operations. As per, the India Brand Equity Foundation (IBEF)in February 2021, foremost oil & gas companies in India, such as Indian Oil Co., Petronet LNG, and ONGC, announced expansion, and development plans in the domestic oil & gas industry to cater to global consumer demand. However, a rise in encouragement about environmental concerns and crude oil price volatility is anticipated to hamper the growth of the oilfield chemicals market. Furthermore, numerous favorable policies governed by regional governments to promote renewable sources of energy over conventional ones played an important role in decreasing the demand for oilfield chemicals during the assessment period. However, despite the rapid shift of consumers towards renewable chemical sources of energy, a massive consumer base still relies on conventional sources of energy. As, demand from such a huge consumer base, the need for exploration of oilfields is rising. Also, with the exploration of new oilfields or an upsurge in the production of existing oilfields, demand for oilfield chemicals is further expected to have a significant growth rate during the forecast period.

Oilfield Chemicals Market

MARKET SUMMARY
-
3.5%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 3.5%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Oilfield Chemicals Market

  • The oilfield chemicals market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The oilfield chemicals market is segmented based on product type, application and geography.
Key Players
  • Albemarle Corporation
  • Akzo Nobel N.V.
  • DowDuPont Inc.
  • Baker Hughes, a GE Company LLC
  • Halliburton Co.
Oilfield Chemicals Market Dynamics

The global market for oilfield chemicals is growing due to the rising applications in exploration and drilling activities. Such as, Governmental agencies in many countries are gradually investing in oil & gas exploration activities to increase crude oil production and cater to the demand for fuels such as petroleum and diesel. For instance, as to India Brand Equity Foundation, the government of India announced investing US$ 2.86 billion to duple the production of oil & gas by drilling more than 120 exploration wells in 2022. Moreover, the discovery of new oil & natural gas reserves worldwide is further propelling the market growth. For instance, In 2019, according to the U.S. Energy Information Administration, the U.S. Government announced the discovery of new oil reserves in Texas, North Dakota, and New Mexico with barrels capacity of 3.5 billion, 0.7 billion, and 1.1 billion respectively.


Asia Pacific Got Significant Share

Oilfield Chemicals Market

The Oilfield Chemicals market in the Asia Pacific is likely to hold a significant revenue share in 2021, and, in the following years, it is predicted to increase rapidly owing to the governmental bodies’ numerous initiatives for expanding the oil & gas refining infrastructure to rise productivity. For instance, the Ministry of Petroleum & Natural Gas in India announced approving US$ 3.8 billion for the Numaligarh Refinery project to enlarge its refining capacity from 3 mmtpa to 9 mmtpa. Furthermore, as oilfield production chemicals play an important role in refining crude oil to produce its derivatives such as petroleum, diesel, kerosene, and others, these initiatives in this region will support the growth in the market over the forecasted period.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Oilfield Chemicals Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The oilfield chemicals market is projected to expand at a CAGR of 3.5% during the forecast period

Albemarle Corporation, Akzo Nobel N.V., DowDuPont Inc., Baker Hughes, a GE Company LLC, Halliburton Co., BASF SE, Flotek Industries, Inc., Ashland Inc., Schlumberger Limited, Solvay SA, Clariant AG, GEO Drilling Fluids, Inc., Innospec Incorporated, Chevron Phillips Chemical Company LLC.

 

Asia-Pacific is the fastest-growing region for oilfield chemicals market


Report

Table Of Content

1. Executive Summary
2. Global Oilfield Chemicals Market Introduction
2.1. Global Oilfield Chemicals Market – Taxonomy
2.2. Global Oilfield Chemicals Market –Definitions
2.2.1. Product
2.2.2. Application
2.2.3. Region
3. Global Oilfield Chemicals Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Oilfield Chemicals Market Dynamic Factors – Impact Analysis
3.6. Global Oilfield Chemicals Market – Competition Landscape
4. Global Oilfield Chemicals Market Analysis,2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Oilfield Chemicals Market, By Product, 2017–2021and Forecast, 2022–2028 (Revenue, USD Mn)
5.1. Corrosion & Scale Inhibitors
5.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Demulsifier
5.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Surfactants
5.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Others
5.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
6. Global Oilfield Chemicals Market, By Application, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1. Drilling
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Cement
6.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Stimulation
6.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Production
6.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
7. Global Oilfield Chemicals Market Forecast, By Region, 2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
7.1. North America
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Europe
7.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Asia-Pacific
7.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Latin America
7.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Middle East and Africa
7.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Global Oilfield Chemicals Market – Opportunity Analysis Index, By Product, Application, and Region, 2022 – 2028
8. North America Oilfield Chemicals market analysis,2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
8.1. Product Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.1.1. Corrosion & Scale Inhibitors
8.1.2. Demulsifier
8.1.3. Surfactants
8.1.4. Others
8.2. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.2.1. Drilling
8.2.2. Cement
8.2.3. Stimulation
8.2.4. Production
8.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
8.3.1. USA
8.3.2. Canada
8.4. North America Oilfield Chemicals Market – Opportunity Analysis Index, By Product, Application, and Country, 2022 – 2028
8.5. North America Oilfield Chemicals Market Dynamics – Trends
9. Europe Oilfield Chemicals Market Analysis, 2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
9.1. Product Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Corrosion & Scale Inhibitors
9.1.2. Demulsifier
9.1.3. Surfactants
9.1.4. Others
9.2. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Drilling
9.2.2. Cement
9.2.3. Stimulation
9.2.4. Production
9.3. Country Analysis 2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.3.1. Germany
9.3.2. UK
9.3.3. France
9.3.4. Spain
9.3.5. Italy
9.3.6. Russia
9.3.7. Poland
9.3.8. Rest of Europe
9.4. Europe Oilfield Chemicals Market – Opportunity Analysis Index, By Product, Application, and Country, 2022 – 2028
9.5. Europe Oilfield Chemicals Market Dynamics – Trends
10. Asia-Pacific Oilfield Chemicals Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
10.1. Product Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Corrosion & Scale Inhibitors
10.1.2. Demulsifier
10.1.3. Surfactants
10.1.4. Others
10.2. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Drilling
10.2.2. Cement
10.2.3. Stimulation
10.2.4. Production
10.3. Country Analysis2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.3.1. Japan
10.3.2. China
10.3.3. India
10.3.4. ASEAN
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Asia-Pacific Oilfield Chemicals Market – Opportunity Analysis Index, By Product, Application, and Country,2022 – 2028
10.5. Asia-Pacific Oilfield Chemicals Market Dynamics – Trends
11. Latin America Oilfield Chemicals Market Analysis,2017 – 2021 and Forecast, 2022–2028(Revenue, USD Mn)
11.1. Product Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Corrosion & Scale Inhibitors
11.1.2. Demulsifier
11.1.3. Surfactants
11.1.4. Others
11.2. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Drilling
11.2.2. Cement
11.2.3. Stimulation
11.2.4. Production
11.3. Country Analysis 2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.3.1. Brazil
11.3.2. Mexico
11.3.3. Argentina
11.3.4. Rest of Latin America
11.4. Latin America Oilfield Chemicals Market – Opportunity Analysis Index, By Product, Application, and Country, 2022 – 2028
11.5. Latin America Oilfield Chemicals Market Dynamics – Trends
12. Middle East and Africa Oilfield Chemicals Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
12.1. Product Type Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Corrosion & Scale Inhibitors
12.1.2. Demulsifier
12.1.3. Surfactants
12.1.4. Others
12.2. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Drilling
12.2.2. Cement
12.2.3. Stimulation
12.2.4. Production
12.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.3.1. Gulf Cooperation Council (GCC) Countries
12.3.2. Israel
12.3.3. South Africa
12.3.4. Rest of MEA
12.4. MEA Oilfield Chemicals Market – Opportunity Analysis Index, By Product, Application, and Country, 2022 – 2028
12.5. MEA Oilfield Chemicals Market Dynamics – Trends
13. Competition Landscape
13.1. Strategic Dashboard of Top Market Players
13.2. Company Profiles (Introduction, Financial Analysis, Product Type& Service Testing Types, Key Developments, Strategies, and SWOT Analysis)
13.2.1. Albemarle Corporation
13.2.2. Akzo Nobel N.V.
13.2.3. DowDuPont Inc.
13.2.4. Baker Hughes, a GE Company LLC
13.2.5. Halliburton Co.
13.2.6. BASF SE
13.2.7. Flotek Industries, Inc.
13.2.8. Ashland Inc.
13.2.9. Schlumberger Limited
13.2.10. Solvay SA
13.2.11. Clariant AG
13.2.12. GEO Drilling Fluids, Inc.
13.2.13. Innospec Incorporated
13.2.14. Chevron Phillips Chemical Company LLC.
14. Research Methodology
15. Key Assumptions and Acronyms

Report

Company Profile

  • Albemarle Corporation
  • Akzo Nobel N.V.
  • DowDuPont Inc.
  • Baker Hughes, a GE Company LLC
  • Halliburton Co.
  • BASF SE
  • Flotek Industries, Inc.
  • Ashland Inc.
  • Schlumberger Limited
  • Solvay SA
  • Clariant AG
  • GEO Drilling Fluids, Inc.
  • Innospec Incorporated
  • Chevron Phillips Chemical Company LLC.

Description

The Oilfield Chemicals market is expected to be valued at USD 24,653.2 million in 2022 and is poised to grow at a significant CAGR of 3.5% over 2022–2028. Oilfield chemicals are chemical compounds used to enhance the efficacy and efficiency of activities at an oilfield site. Chemicals used in the oilfield are further used for production, drilling, completion, and many other operations. Oilfield chemicals are also used to purify equipment, machinery, the oil itself, and oil sites. These chemicals assist in the maintenance of a smooth-running oilfield, resulting in lower costs due to delays and slowdowns during the drilling process. These chemicals avoid the production of metal scales and minimalize the amount of water injected into oil wells throughout exploration and drilling, subsequent in a rise in demand for and use of oilfield chemicals. These wide ranges of usages of oilfield chemicals have primarily driven the growth of the market. Also, the increase in oil production and exploration activities pushes the demand for oilfield chemicals. The demand for oilfield chemicals is anticipated to rise over the forecast period, owing to increased oil & gas exploration with technological advancements in deep-water drilling operations. As per, the India Brand Equity Foundation (IBEF)in February 2021, foremost oil & gas companies in India, such as Indian Oil Co., Petronet LNG, and ONGC, announced expansion, and development plans in the domestic oil & gas industry to cater to global consumer demand. However, a rise in encouragement about environmental concerns and crude oil price volatility is anticipated to hamper the growth of the oilfield chemicals market. Furthermore, numerous favorable policies governed by regional governments to promote renewable sources of energy over conventional ones played an important role in decreasing the demand for oilfield chemicals during the assessment period. However, despite the rapid shift of consumers towards renewable chemical sources of energy, a massive consumer base still relies on conventional sources of energy. As, demand from such a huge consumer base, the need for exploration of oilfields is rising. Also, with the exploration of new oilfields or an upsurge in the production of existing oilfields, demand for oilfield chemicals is further expected to have a significant growth rate during the forecast period.

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