Global Oilfield Chemicals Market Size, Trends & Growth Opportunity By Product (Surfactant, Polymer, Demulsifier, Corrosion & Scale Inhibitor), By Distribution Channel (Workover & Completion, Well Stimulation, Drilling & Cementing), By Region and Forecast
Description
Global Oilfield Chemicals Market Size, Trends, & Growth Opportunity by Product (Surfactant, Polymer, Demulsifier, Corrosion & Scale Inhibitor), By Distribution Channel (Workover & Completion, Well Stimulation, Drilling & Cementing), By Region, and Forecast till 2027.
Global Oilfield Chemicals Market
The global oilfield chemicals market was valued at USD 29.11 billion in 2021 which is expected to reach USD 36.88 billion by 2027 at a CAGR 4.09 %from 2022-2027.
Oilfield chemicals are specialty chemicals used in the oil and gas sector to improve the extraction process. These chemicals are used to guard against corrosion, optimise drilling, improve oil recovery, prevent mud loss, stabilise drilling fluid at varied temperatures and pressures, and achieve peak performance. Oilfield chemicals are used at several stages of the oilfield, including upstream, midstream, and downstream.
Market Drivers
The increase in oil and gas exploration operations around the world is likely to drive the global oilfield chemicals market's growth. Furthermore, increased demand for oilfield chemicals will positively impact the growth of the worldwide oilfield chemicals market. Oilfield chemicals' benefits of increasing production and lowering costs will drive up demand for oilfield chemicals during this projection period. Furthermore, an increase in product releases will fuel the expansion of the oilfield chemicals market. For example, in April 2020, Sasol announced the cost-effective product series Terravis PI for the global oil and gas sector. TERRAVIS PI improves crude oil flowability while lowering solvent, utility, insulation, and mechanical removal expenses.
Market Restraints
Stringent laws and regulations, on the other hand, are projected to stymie the worldwide oilfield chemicals market's expansion.
Market Segmentation
The global oilfield chemicals market is segmented into chemical type, such as Surfactant, Polymer, Demulsifier, Corrosion & Scale Inhibitor, Biocide, and Others. Further market is segmented into application such as Workover & Completion, Well Stimulation, Drilling & Cementing, Production, and Enhanced Oil Recovery.
Regional analysis Also, Global Oilfield Chemicals industry is segmented into five regions, such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. During the forecast period, the market in North America is expected to dominate the global market. This is due to an increase in oil and gas operations due to the advent of hydraulic fracturing and drilling methods. Furthermore, technical developments and an increase in drilling activities are likely to boost regional growth during the predicted period. The increased exploration and production of shale gas in the United States is predicted to raise the need for oil-based chemicals.
Market Key Players
Various key players are discussed in this report, such as Champion Technologies, Stepan Company, REDA Oilfield, Imperial Oilfield Chemicals Pvt. Ltd., Universal Oil Field Chemicals Pvt. Ltd., Chemcon Specialty Chemicals Pvt. Ltd., Clariant AG, Kemira Oyj, and Huntsman Corporation.
Market Taxonomy
By Chemical Type
Global Oilfield Chemicals Market
The global oilfield chemicals market was valued at USD 29.11 billion in 2021 which is expected to reach USD 36.88 billion by 2027 at a CAGR 4.09 %from 2022-2027.
Oilfield chemicals are specialty chemicals used in the oil and gas sector to improve the extraction process. These chemicals are used to guard against corrosion, optimise drilling, improve oil recovery, prevent mud loss, stabilise drilling fluid at varied temperatures and pressures, and achieve peak performance. Oilfield chemicals are used at several stages of the oilfield, including upstream, midstream, and downstream.
Market Drivers
The increase in oil and gas exploration operations around the world is likely to drive the global oilfield chemicals market's growth. Furthermore, increased demand for oilfield chemicals will positively impact the growth of the worldwide oilfield chemicals market. Oilfield chemicals' benefits of increasing production and lowering costs will drive up demand for oilfield chemicals during this projection period. Furthermore, an increase in product releases will fuel the expansion of the oilfield chemicals market. For example, in April 2020, Sasol announced the cost-effective product series Terravis PI for the global oil and gas sector. TERRAVIS PI improves crude oil flowability while lowering solvent, utility, insulation, and mechanical removal expenses.
Market Restraints
Stringent laws and regulations, on the other hand, are projected to stymie the worldwide oilfield chemicals market's expansion.
Market Segmentation
The global oilfield chemicals market is segmented into chemical type, such as Surfactant, Polymer, Demulsifier, Corrosion & Scale Inhibitor, Biocide, and Others. Further market is segmented into application such as Workover & Completion, Well Stimulation, Drilling & Cementing, Production, and Enhanced Oil Recovery.
Regional analysis Also, Global Oilfield Chemicals industry is segmented into five regions, such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. During the forecast period, the market in North America is expected to dominate the global market. This is due to an increase in oil and gas operations due to the advent of hydraulic fracturing and drilling methods. Furthermore, technical developments and an increase in drilling activities are likely to boost regional growth during the predicted period. The increased exploration and production of shale gas in the United States is predicted to raise the need for oil-based chemicals.
Market Key Players
Various key players are discussed in this report, such as Champion Technologies, Stepan Company, REDA Oilfield, Imperial Oilfield Chemicals Pvt. Ltd., Universal Oil Field Chemicals Pvt. Ltd., Chemcon Specialty Chemicals Pvt. Ltd., Clariant AG, Kemira Oyj, and Huntsman Corporation.
Market Taxonomy
By Chemical Type
- Surfactant
- Polymer
- Demulsifier
- Corrosion & Scale Inhibitor
- Biocide
- Others
- Workover & Completion
- Well Stimulation
- Drilling & Cementing
- Production
- Enhanced Oil Recovery
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Table of Contents
123 Pages
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Oilfield Chemicals Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Oilfield Chemicals Market, By Chemical Type
- 5.1 Y-o-Y Growth Comparison, By Chemical Type
- 5.2 Global Oilfield Chemicals Market Share Analysis, By Chemical Type
- 5.3 Global Oilfield Chemicals Market Size and Forecast, By Chemical Type
- 5.3.1 Surfactant
- 5.3.2 Polymer
- 5.3.3Demulsifier
- 5.3.4Corrosion & Scale Inhibitor
- 5.3.5Biocide
- 5.3.6Others
- 6 Global Oilfield Chemicals Market, By Application
- 6.1 Y-o-Y Growth Comparison, By Application
- 6.2 Global Oilfield Chemicals Market Share Analysis, By Application
- 6.3 Global Oilfield Chemicals Market Size and Forecast, By Application
- 6.3.1 Workover & Completion
- 6.3.2 Well Stimulation
- 6.3.3 Drilling & Cementing
- 6.3.4 Production
- 6.3.5 Enhanced Oil Recovery
- 7Global Oilfield Chemicals Market, By Region
- 7.1 Global Oilfield Chemicals Market Share Analysis, By Region
- 7.2 Global Oilfield Chemicals Market Share Analysis, By Region
- 7.3 Global Oilfield Chemicals Market Size and Forecast, By Region
- 8North America Oilfield Chemicals Market Analysis and Forecast (2022–2027)
- 8.1 Introduction
- 8.2 North America Oilfield Chemicals Market Share Analysis, By Chemical Type
- 8.3 North America Oilfield Chemicals Market Size and Forecast, By Application
- 8.4 North America Oilfield Chemicals Market Size and Forecast, By Country
- 8.4.1 U.S.
- 8.4.2 Canada
- 8.4.3 Mexico
- 9Europe Oilfield Chemicals Market Analysis and Forecast (2022–2027)
- 9.1 Introduction
- 9.2 Europe Oilfield Chemicals Market Share Analysis, By Chemical Type
- 9.3 Europe Oilfield Chemicals Market Size and Forecast, By Application
- 9.4 Europe Oilfield Chemicals Market Size and Forecast, By Country
- 9.4.1 Germany
- 9.4.2 France
- 9.4.3 UK
- 9.4.4. Rest of Europe
- 10Asia Pacific Oilfield Chemicals Market Analysis and Forecast (2022–2027)
- 10.1 Introduction
- 10.2 Asia Pacific Oilfield Chemicals Market Share Analysis, By Chemical Type
- 10.3 Asia Pacific Oilfield Chemicals Market Size and Forecast, By Application
- 10.4 Asia Pacific Oilfield Chemicals Market Size and Forecast, By Country
- 10.4.1 China
- 10.4.2 Japan
- 10.4.3 India
- 10.4.4. Rest of Asia Pacific
- 11Latin America Oilfield Chemicals Market Analysis and Forecast (2022–2027)
- 11.1 Introduction
- 11.2 Latin America Oilfield Chemicals Market Share Analysis, By Chemical Type
- 11.3 Latin America Oilfield Chemicals Market Size and Forecast, By Application
- 11.4 Latin America Oilfield Chemicals Market Size and Forecast, By Country
- 12Middle East Oilfield Chemicals Market Analysis and Forecast (2022–2027)
- 12.1 Introduction
- 12.2 Middle East Oilfield Chemicals Market Share Analysis, By Chemical Type
- 12.3 Middle East Oilfield Chemicals Market Size and Forecast, By Application
- 12.4 Middle East Oilfield Chemicals Market Size and Forecast, By Country
- 13Competitive Analysis
- 13.1 Competition Dashboard
- 13.2 Market share Analysis of Top Vendors
- 13.3 Key Development Strategies
- 14Company Profiles
- 15.1 Champion Technologies
- 15.1.1 Overview
- 15.1.2 Offerings
- 15.1.3 Key Financials
- 15.1.4 Business Segment & Geographic Overview
- 15.1.5 Key Market Developments
- 15.1.6 Key Strategies
- 15.2 REDA Oilfield
- 15.2.1 Overview
- 15.2.2 Offerings
- 15.2.3 Key Financials
- 15.2.4 Business Segment & Geographic Overview
- 15.2.5 Key Market Developments
- 15.2.6 Key Strategies
- 15.3 Imperial Oilfield Chemicals Pvt. Ltd
- 15.3.1 Overview
- 15.3.2 Offerings
- 15.3.3 Key Financials
- 15.3.4 Business Segment & Geographic Overview
- 15.3.5 Key Market Developments
- 15.3.6 Key Strategies
- 15.4 Universal Oil Field Chemicals Pvt. Ltd
- 15.4.1 Overview
- 15.4.2 Offerings
- 15.4.3 Key Financials
- 15.4.4 Business Segment & Geographic Overview
- 15.4.5 Key Market Developments
- 15.4.6 Key Strategies
- 15.5 Chemcon Specialty Chemicals Pvt. Ltd
- 15.5.1 Overview
- 15.5.2 Offerings
- 15.5.3 Key Financials
- 15.5.4 Business Segment & Geographic Overview
- 15.5.5 Key Market Developments
- 15.5.6 Key Strategies
- 15.6 Clariant AG
- 15.6.1 Overview
- 15.6.2 Offerings
- 15.6.3 Key Financials
- 15.6.4 Business Segment & Geographic Overview
- 15.6.5 Key Market Developments
- 15.6.6 Key Strategies
- 15.7 Kemira Oyj
- 15.7.1 Overview
- 15.7.2 Offerings
- 15.7.3 Key Financials
- 15.7.4 Business Segment & Geographic Overview
- 15.7.5 Key Market Developments
- 15.7.6 Key Strategies
- 15.8 Huntsman Corporation
- 15.8.1 Overview
- 15.8.2 Offerings
- 15.8.3 Key Financials
- 15.8.4 Business Segment & Geographic Overview
- 15.8.5 Key Market Developments
- 15.8.6 Key Strategies
Pricing
Currency Rates
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