Oilfield Chemicals Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Chemical Type (Biocides, Corrosion and Scale Inhibitors, Demulsifiers, Polymers, Surfactants, and Other Chemical Types), Application (Drilling and Cementing, Enhanced Oil Recovery, Production, Well Stimulation, and Workover and Completion), and Geography (Asia-Pacific, North America, Europe, South America, Middle-East & Africa).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

North America

Largest Market:

North America

CAGR:

4 %

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Market Overview

The oilfield chemicals market is expected to register a CAGR of over 4% during the forecast period. This market is driven by a number of factors, such as increasing shale gas exploration and production. The opening of new horizons, due to deep-water drilling operations, is likely to act as key major opportunities for the oilfield chemicals market.

  • Rising demand for petroleum-based fuel from the transportation industry is expected to drive the demand for the market, during the forecast period.
  • Clean energy initiatives are likely to hinder the market growth.
  • Production opportunities provided by developing countries is projected to act as an opportunity for the market, in the future.

Scope of the Report

The oilfield chemicals market report includes:

Chemical Type
Biocides
Corrosion and Scale Inhibitors
Demulsifiers
Polymers
Surfactants
Other Chemical Types
Application
Drilling and Cementing
Enhanced Oil Recovery
Production
Well Stimulation
Workover and Completion
Geography
Asia-Pacific
China
India
Indonesia
Malaysia
Thailand
Australia & New Zealand
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Russia
Norway
United Kingdom
Rest of Europe
South America
Brazil
Argentina
Columbia
Rest of South America
Middle-East & Africa
Saudi Arabia
Iran
Iraq
United Arab Emirates
Algeria
Nigeria
Rest of Middle-East & Africa

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Key Market Trends

Drilling & Cementing Application to Dominate the Market

  • In the drilling segment, oilfield chemicals are used to stabilize temperature and prevent contaminated products from entering the drilling fluid system.
  • They are also added as additives to the drilling fluids used to maintain the hydrostatic pressure and clear the wellbore from cuttings. The rise in the deep-water drilling activities is expected to drive the oilfield chemicals market in the future.
  • The rise in the deep-water drilling activities is expected to drive the oilfield chemicals market in the future.
  • Many projects on oil extraction have started, which would include drilling and cementing as the initial stages and thereby increasing the demand for oilfield chemicals in this segment.
  • Additionally, the huge demand for technologically advanced cementing products, such as Selvol Polyvinyl Alcohol having non-ionic and low-viscous properties, is expected to open up opportunities in the oilfield chemicals market.

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North America to Dominate the Market

  • The North American region dominates the global oilfield chemicals market, due to the increased emphasis on shale gas production and exploration in the region.
  • The United States accounts for the major share in North America, mainly owing to the boom in the shale gas industry, advancements in technologies, and increasing oil exports.
  • The shale gas production has been increasing exceptionally over the recent years, and owing to increasing demand from the major developing economies of Asia-Pacific, the demand for natural gas is expected to rise over the forecast period.
  • This growing production of shale gas in North America, in turn, is projected to increase the demand for oilfield chemicals over the forecast period.

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Competitive Landscape

The oilfield chemicals market is highly consolidated. Key players in the oilfield chemicals market include Halliburton, Schlumberger Limited, Baker Hughes Company, Ecolab (NALCO Champion), and Solvay, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 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 the Transportation Industry

    2. 4.2 Restraints

      1. 4.2.1 Clean Energy Initiatives

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces 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 and Scale Inhibitors

      3. 5.1.3 Demulsifiers

      4. 5.1.4 Polymers

      5. 5.1.5 Surfactants

      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 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Indonesia

        4. 5.3.1.4 Malaysia

        5. 5.3.1.5 Thailand

        6. 5.3.1.6 Australia & New Zealand

        7. 5.3.1.7 Vietnam

        8. 5.3.1.8 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Russia

        2. 5.3.3.2 Norway

        3. 5.3.3.3 United Kingdom

        4. 5.3.3.4 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Columbia

        4. 5.3.4.4 Rest of South America

      5. 5.3.5 Middle-East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 Iran

        3. 5.3.5.3 Iraq

        4. 5.3.5.4 United Arab Emirates

        5. 5.3.5.5 Algeria

        6. 5.3.5.6 Nigeria

        7. 5.3.5.7 Rest of Middle-East & Africa

  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 Nouryon

      2. 6.4.2 Albemarle Corporation

      3. 6.4.3 Ashland

      4. 6.4.4 Baker Hughes Company

      5. 6.4.5 BASF SE

      6. 6.4.6 CES Energy Solutions Corp.

      7. 6.4.7 Clariant

      8. 6.4.8 Croda International Plc

      9. 6.4.9 Chevron Phillips Chemical Company (Drilling Specialties Company)

      10. 6.4.10 Dow

      11. 6.4.11 ELEMENTIS PLC

      12. 6.4.12 Flotek Industries, Inc.

      13. 6.4.13 Halliburton

      14. 6.4.14 Huntsman International LLC

      15. 6.4.15 Innospec Oilfield Services

      16. 6.4.16 Kemira

      17. 6.4.17 Ecolab (NALCO Champion)

      18. 6.4.18 Schlumberger Limited

      19. 6.4.19 MPRC

      20. 6.4.20 Solvay

      21. 6.4.21 The Lubrizol Corporation

      22. 6.4.22 Zirax Limited

  7. *List Not Exhaustive
  8. 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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