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

The market is Segmented by Chemical Type (Biocide, Corrosion & Scale Inhibitor, Demulsifier, Polymer, Surfactant, and Other Chemicals), Application (Drilling & Cementing, Enhanced Oil Recovery, Production, Well Stimulation, and Workover & Completion), and Geography

Market Snapshot

Europe oil field chemicals market - market summary
Study Period: 2016 - 2026
Base Year: 2020

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Market Overview

The Europe oilfield chemicals market is expected to record a CAGR around 5% during the forecast period of 2019–2024. The major factors driving the market studied are the increased shale gas exploration and production, and rising demand for petroleum-based fuel from the transportation industry.

  • Environmental sustainability in shale gas extraction is expected to hinder the growth of the market studied. 
  • New horizons opened up due to offshore drilling operations are likely to act as an opportunity in the future.

Scope of the Report

The Europe oilfield chemicals market report includes:

Chemical Type
Biocides
Corrosion & Scale Inhibitors
Demulsifiers
Polymers
Surfactants
Other Types
Application
Drilling & Cementing
Work-over & Completion
Well Stimulation
Production
Enhanced Oil Recovery
Geography
Russia
Norway
United Kingdom
Rest of Europe

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Key Market Trends

Well Stimulation to Dominate the Market

  • The well stimulation segment holds the largest share of oilfield chemicals by application. The chemicals used in this segment, include acid corrosion inhibitors, surfactants and non-emulsifiers.
  • These provide excellent protection to oil well equipment, pumps and trucks from corrosion while working with acid, for well stimulation process. Surfactants reduce the surface tension of various acids, acid additives, and water fracturing.
  • The best application of these chemicals is seen in the production from unconventional resources like shale gas and tight oil where there is a requirement of technologies, such as hydraulic fracturing and acidizing.
  • Europe is expected to shift its focus to the exploration of shale in the North Sea, due to an increasing requirement to attain energy self-sufficient. Hence, the well stimulation chemicals are supposed to have a very fruitful market in the near future.
application

Russia to Dominate the Market

  • Russia is the second largest producer of crude oil, globally with verified oil reserves of about 80,000 million barrels of oil. The country is greatly dependent on the revenues obtained from the oil & gas industry, and which accounted for around 40% of the federal revenues.
  • Russia is also the second largest exporter of crude oil, globally, with crude oil exports accounting to about 46% of total export revenues of the country. 
  • With new projects like the Nord Stream-2 pipeline, the country is looking forward to increasing its oil exports further to the European Union.
  • Also, there are increasing exports of natural gas from Russia to the Asia-Pacific region, especially China due to the competitive pricing mechanism for natural gas.
  • The production of crude oil in Russia has been increasing in a constant manner for a long time. To support the recovery of the oil prices, Russia along with other OPEC has agreed to cut down its crude oil production by about 300,000 barrels per day.
  • Russia is expected to continue as one of the major producers of oil & gas in the long run but the recent agreement to cut the crude oil output might temporarily slow down the growth of the petroleum industry.
  • Hence the oilfield chemicals are expected to witness moderate growth in Russia during the forecast period.
by country

Competitive Landscape

The global industrial valves market is fragmented. The major companies include Nouryon, Albemarle Corporation, Huntsman International LLC, Solvay, and Chevron Phillips Chemical Company (Drilling Specialties Company), among others.

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 Drivers

      1. 4.1.1 Increased Shale Gas Exploration and Production

      2. 4.1.2 Rising Demand for Petroleum-based Fuel from Transportation Industry

    2. 4.2 Restraints

      1. 4.2.1 Environmental Sustainability in Shale Gas Extraction

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Chemical Type

      1. 5.1.1 Biocides

      2. 5.1.2 Corrosion & Scale Inhibitors

      3. 5.1.3 Demulsifiers

      4. 5.1.4 Polymers

      5. 5.1.5 Surfactants

      6. 5.1.6 Other Types

    2. 5.2 Application

      1. 5.2.1 Drilling & Cementing

      2. 5.2.2 Work-over & Completion

      3. 5.2.3 Well Stimulation

      4. 5.2.4 Production

      5. 5.2.5 Enhanced Oil Recovery

    3. 5.3 Geography

      1. 5.3.1 Russia

      2. 5.3.2 Norway

      3. 5.3.3 United Kingdom

      4. 5.3.4 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & 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 Albemarle Corporation

      2. 6.4.2 Ashland

      3. 6.4.3 Baker Hughes, a GE Company LLC

      4. 6.4.4 BASF SE

      5. 6.4.5 Chevron Phillips Chemical Company (Drilling Specialties Company)

      6. 6.4.6 Clariant

      7. 6.4.7 Croda International Plc

      8. 6.4.8 DowDuPont

      9. 6.4.9 Ecolab (Nalco Champion Technologies Inc.)

      10. 6.4.10 ELEMENTIS PLC

      11. 6.4.11 Exxon Mobil Corporation

      12. 6.4.12 Flotek Industries, Inc.

      13. 6.4.13 Halliburton

      14. 6.4.14 Huntsman International LLC.

      15. 6.4.15 Innospec

      16. 6.4.16 Kemira

      17. 6.4.17 Newpark Resources Inc.

      18. 6.4.18 Nouryon

      19. 6.4.19 Schlumberger Limited

      20. 6.4.20 Solvay

      21. 6.4.21 Zirax Limited

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

    1. 7.1 New Horizons Opened Up Due to Offshore Drilling Operations

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

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

Nouryon, Albemarle Corporation, Huntsman International LLC, Solvay, Chevron Phillips Chemical Company (Drilling Specialties Company) are the major companies operating in Europe Oilfield Chemicals Market.

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