Asia-Pacific Oilfield Chemicals Market | Growth, Trends, and Forecast (2018-2023)
Asia-Pacific Oilfield Chemicals Market - Segmented by Chemical Type, Application, and Geography - Growth, Trends and Forecast (2018 - 2023)

PUBLISHED

OCT 2018

Asia-Pacific Oilfield Chemicals Market - Segmented by Chemical Type, Application, and Geography - Growth, Trends and Forecast (2018 - 2023)

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The Asia-Pacific oilfield chemicals market is estimated to register a CAGR of 4.55% during 2018-2023 (the forecast period). In the by type segment, corrosion and scale inhibitor are to dominate the market. China is expected to lead the market, as it has the largest consumption and is the biggest importer of crude oil in the region, among others. One of the major factors driving the growth of the market is the increased shale gas exploration and production in Asia-Pacific region and rising demand for petroleum-based fuel from the transportation industry.

Rising Demand for Petroleum-Based Fuel from the Transportation Industry

Petroleum based fuels used for transportation are expected to depict strong growth in the developing Asia-Pacific region. Countries such as China, India, Thailand, and Indonesia are among the leading consumers of petroleum fuels for transportation industry in the region. Continuous growing industrialization in China is likely to build the potential for supply chain industry in the country. Abundant natural resources, coupled with flexible government trade policies, are creating a trade favorable environment for domestic industries. The rise in the demand for petroleum-based fuel from transportation industry is to drive the market for oilfield chemicals.

Corrosion & 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. 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 in the forecast period.

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 tons by 2020. Moreover, five-year plan released by National Development and Reform Commission and the National Energy Administration, the country’s supply capacity for natural gas should exceed 360 billion cubic meters. China is also promoting exploration to ensure domestic oil supplies. By 2030, natural gas and non-petrochemical energy is expected to new added energy supply.

Key Developments

  • September 2017: Innospec Inc., announced that it concluded the registration of its new wholly-owned enterprise in China, Innospec Chemical (Beijing) Co. Ltd.

Major Players: AkzoNobel N.V., Halliburton, Schlumberger, Baker Hughes, Huntsman International LLC, DowDupont, Solvay, The Lubrizol Corporation, and Albemarle Corporationamongst others.

Asia-Pacific Oilfield Chemicals Market Report Summary

Metrics

Details

Industry

Asia-Pacific Oilfield Chemicals Market

Study Period

(2016 – 2023)

Largest Market Share by Region

China

Companies Covered

AkzoNobel N.V., Halliburton, Schlumberger, Baker Hughes, Huntsman International LLC, DowDupont, Solvay, The Lubrizol Corporation, and Albemarle Corporationamongst others.

Report Offerings

Asia-Pacific Oilfield Chemicals Market offers latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share and forecast to 2023.

Reasons to Purchase this Report

  • Current and future Asia-Pacific oilfield chemical market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares and strategies employed by the major market players
  • 3 months analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

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1. Introduction

              1.1 Scope of the Report

              1.2 Study Assumptions

              1.3 Study Deliverables

              1.4 Research Phases

2. Executive Summary

3. Market Insights

             3.1 Industry Value Chain Analysis

             3.2 Industry Attractiveness - Porter’s Five Forces Analysis

                            3.2.1 Bargaining Power of Suppliers

                            3.2.2 Bargaining Power of Consumers

                            3.2.3 Threat of New Entrants

                            3.2.4 Threat of Substitute Products and Services

                            3.2.5 Degree of Competition

4. Market Dynamics

             4.1 Drivers

                            4.1.1 Rising Demand for Petroleum-based Fuel from the Transportation Industry

                            4.1.2 Increased Shale Gas Exploration and Production in Asia-Pacific

             4.2 Restraints

                            4.2.1 Rising Biofuel Industry

                            4.2.2 Clean Energy Initiatives

             4.3 Opportunities

                            4.3.1 New Horizons Opened Up due to Deep-water Drilling Operations

                            4.3.2 Production Opportunities Provided by Developing Countries

5. Market Segmentation and Analysis (Market Size, Growth & Forecast)

             5.1 By Chemical Type

                            5.1.1 Biocide

                            5.1.2 Corrosion & Scale Inhibitor

                            5.1.3 Demulsifier

                            5.1.4 Polymer

                            5.1.5 Surfactant

                            5.1.6 Other Chemicals

             5.2 By Application

                            5.2.1 Drilling & Cementing

                            5.2.2 Enhanced Oil Recovery

                            5.2.3 Production

                            5.2.4 Well Stimulation

                            5.2.5 Workover & Completion

6. Asia-Pacific Market Analysis (Market Size, Growth & Forecast)

             6.1 China

             6.2 India

             6.3 Indonesia

             6.4 Malaysia

             6.5 Thailand

             6.6 Australia & New-Zealand

             6.7 Vietnam

             6.8 Rest of Asia-Pacific

7. Policies & Regulations

8. Competitive Landscape

             8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

             8.2 Market Share Analysis**

             8.3 Strategies Adopted by Leading Players

9. Company Profiles (Overview, Products & Services, Financials**, Recent Developments)

             9.1 Akzo Nobel NV

             9.2 Albemarle Corporation

             9.3 Ashland

             9.4 Baker Hughes Incorporated

             9.5 BASF SE

             9.6 Clariant

             9.7 Croda International PLC

             9.8 Chevron Phillips Chemical Company

             9.9 DowDuPont

             9.10 Elements PLC

             9.11 ExxonMobil Chemical Company (ExxonMobil Corporation)

             9.12 Halliburton

             9.13 Huntsman International LLC

             9.14 Innospec

             9.15 Kemira

             9.16 Nalco Champion Technologies LLC (Ecolab)

             9.17 NewPark Resources Inc.

             9.18 Schlumberger Limited

             9.19 Scomi Energy Services BHD (Scomi Group BHD)

             9.20 Solvay

10. Disclaimer

**Subject to Availability on Public Domain

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