Asia-Pacific Oilfield Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Chemical Type (Biocide, Corrosion and Scale Inhibitor, Demulsifier, Polymer, Surfactant, and Other Chemicals), Application (Drilling and Cementing, Enhanced Oil Recovery, Production, Well Stimulation, and Workover and Completion), and Geography (China, India, Indonesia, Malaysia, Thailand, Australia & New-Zealand, Vietnam, and Rest of Asia-Pacific).

Market Snapshot

01
Study Period: 2016 - 2026
Base Year: 2020

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Market Overview

The Asia-Pacific oilfield chemicals market is expected to register a CAGR of 4.25% during the forecast period (2019-2024). One of the major factors driving the growth of the market is the increased shale gas exploration and production in the Asia-Pacific region.

  • Rising demand for petroleum-based fuel from the transportation industry is expected to drive the demand for the market, during the forecast period.
  • Rising biofuel industry is likely to hinder the market growth.
  • New horizons opened up, due to deep-water drilling operations, which is projected to act as an opportunity for the market in the future.

Scope of the Report

The Asia-Pacific oilfield chemicals market report includes:

Chemical Type
Biocide
Corrosion and Scale Inhibitor
Demulsifier
Polymer
Surfactant
Other Chemical Types
Application
Drilling and Cementing
Enhanced Oil Recovery
Production
Well Stimulation
Workover and Completion
Geography
China
India
Indonesia
Malaysia
Thailand
Australia & New-Zealand
Vietnam
Rest of Asia-Pacific

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Key Market Trends

Corrosion and Scale Inhibitors – The Fastest Growing Segment, by Chemical Type

  • Corrosion inhibitors are used to reduce corrosion in metallic pipes of oil wells. Inhibition is the preferred treatment for carbon steel pipes and vessels.
  • The advantage of inhibition is that in most cases, it can be used even when the process continues. Corrosion occurs due to the reaction of oxygen with metallic parts to form oxides.
  • Corrosion inhibitors act by forming a thin layer of barrier over the exposed parts. This layer prevents the contact between the vessels and the contained material, and reduces the cahances of oxidation of the vessel. Several types of corrosion inhibitors are used in oilfields.
  • Furthermore, new contracts for maintenance in Asia-Pacific exhibit increased investment in corrosion and scale inhibitors, during the forecast period.
03

China to Dominate the Market

  • China holds more than half of the oilfield chemicals market share in the region.
  • Chinese domestic companies dominate the market in the field of equipment manufacturing.
  • China’s state-owned enterprises (SOEs) hold nearly 66% of the market for well-drilling equipment. Small- and medium-sized private Chinese companies control 19% of the market, and foreign corporations make up 10% of the market.
  • China aims to increase domestic crude oil production output to 200 million metric ton, by 2020.
  • Owing to the above-mentioned reasons, China is expected to dominate the demand for oilfield chemicals in the market of the Asia-Pacific region.
04

Competitive Landscape

The market is moderately consolidated, and the key include Halliburton, Schlumberger, AkzoNobel NV, Huntsman International LLC, and Baker Hughes.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Demand for Petroleum-based Fuel from the Transportation Industry

      2. 4.2.2 Increased Shale Gas Exploration and Production in Asia-Pacific

    3. 4.3 Market Restraints

      1. 4.3.1 Rising Biofuel Industry

      2. 4.3.2 Clean Energy Initiatives

    4. 4.4 Value Chain/Supply Chain Analysis

    5. 4.5 Porters Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Policies & Regulations

  5. 5. MARKET SEGMENTATION

    1. 5.1 Chemical Type

      1. 5.1.1 Biocide

      2. 5.1.2 Corrosion and Scale Inhibitor

      3. 5.1.3 Demulsifier

      4. 5.1.4 Polymer

      5. 5.1.5 Surfactant

      6. 5.1.6 Other Chemical Types

    2. 5.2 Application

      1. 5.2.1 Drilling and Cementing

      2. 5.2.2 Enhanced Oil Recovery

      3. 5.2.3 Production

      4. 5.2.4 Well Stimulation

      5. 5.2.5 Workover and Completion

    3. 5.3 Geography

      1. 5.3.1 China

      2. 5.3.2 India

      3. 5.3.3 Indonesia

      4. 5.3.4 Malaysia

      5. 5.3.5 Thailand

      6. 5.3.6 Australia & New-Zealand

      7. 5.3.7 Vietnam

      8. 5.3.8 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AkzoNobel NV

      2. 6.4.2 Albemarle Corporation

      3. 6.4.3 Ashland

      4. 6.4.4 Baker Hughes Incorporated

      5. 6.4.5 BASF SE

      6. 6.4.6 Clariant

      7. 6.4.7 Chevron Phillips Chemical Company

      8. 6.4.8 DowDuPont

      9. 6.4.9 Elements PLC

      10. 6.4.10 ExxonMobil Chemical Company (ExxonMobil Corporation

      11. 6.4.11 Halliburton

      12. 6.4.12 Huntsman International LLC

      13. 6.4.13 Innospec

      14. 6.4.14 Kemira

      15. 6.4.15 Nalco Champion Technologies LLC (Ecolab)

      16. 6.4.16 New Park resources Inc.

      17. 6.4.17 Schlumberger Limited

      18. 6.4.18 Scomi Energy Services BHD (Scomi Group BHD)

      19. 6.4.19 Solvay

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 New Horizons Opened Up due to Deep-water Drilling Operations

    2. 7.2 Production Opportunities Provided by Developing Countries

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Oilfield Chemicals Market market is studied from 2016 - 2026.

Halliburton, Schlumberger, Akzo Nobel NV, Huntsman International LLC, Baker Hughes are the major companies operating in Asia-Pacific Oilfield Chemicals Market.

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