Oilfield Chemicals Market - Growth, Trends, and Forecast (2019 – 2024)

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

Market Snapshot

01
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

North America

Largest Market:

North America

Key Players:

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Market Overview

The global oilfield chemicals market is expected to register a CAGR of 4.64% during the forecast period, 2019 - 2024. This market is driven by a number of factors such as increasing shale gas exploration and production. The opening of new horizons opened up, due to deep-water drilling operations are likely to act as key major opportunities for the oilfield chemicals market.

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

Scope of the Report

The oilfield chemicals market report include:

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

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Key Market Trends

Well Stimulation – The Fastest Growing Segment by Application

  • The well stimulation segment is expected to expand at a fastest CAGR during the forecast period. The United States is the largest beneficiary of this technology due to the increasing activity in unconventional plays.
  • The Middle East and the Asia-Pacific regions have also shown immense potential in adopting the well stimulation techniques.
  • Europe is also expected to shift its focus to the exploration of shale in the North Sea due to increasing requirement to become more energy self-sufficient.
  • Moreover, the advancements in technologies are leading to the enhanced oil recovery from the existing oil plays resulting to increased production and higher profitability. Hence, the well stimulation chemicals are expected to have a very fruitful market in the near future.
03

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North America to Dominate the Market

  • North America region dominated the global market share in 2018, 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 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 of oilfield chemicals over the study period.
04

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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 Huges Incorporation, Nalco Champion Technologies Inc. (ECOLAB) and Solvay.

Major Players

  1. Halliburton
  2. Schlumberger Limited
  3. Baker Huges Incorporation
  4. Nalco Champion Technologies Inc. (ECOLAB)
  5. Solvay

* Complete list of players covered available in the table of contents below

05

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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 Increased Shale Gas Exploration and Production

      2. 4.2.2 Rising Demand for Petroleum Based Fuel from Transportation Industry

    3. 4.3 Market Restraints

      1. 4.3.1 Clean Energy Initiatives

      2. 4.3.2 Other Restraints

    4. 4.4 Value Chain / Supply Chain Analysis

    5. 4.5 Porters 5 Force 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

  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 Others

    2. 5.2 Application

      1. 5.2.1 Drilling & Cementing

      2. 5.2.2 Workover & 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 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Mexico

        3. 5.3.1.3 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 Russia

        2. 5.3.2.2 Norway

        3. 5.3.2.3 United Kingdom

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Indonesia

        4. 5.3.3.4 Malaysia

        5. 5.3.3.5 Thailand

        6. 5.3.3.6 Australia & New Zealand

        7. 5.3.3.7 Vietnam

        8. 5.3.3.8 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Venezuela

        3. 5.3.4.3 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 UAE

        5. 5.3.5.5 Kuwait

        6. 5.3.5.6 Rest of Middle-East

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Colaborations 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 N.V.

      2. 6.4.2 Albemarle Corporation

      3. 6.4.3 Ashland

      4. 6.4.4 Baker Huges Incorporation

      5. 6.4.5 BASF SE

      6. 6.4.6 Canadian Energy Services & Technology Corp. (CESTC)

      7. 6.4.7 Clariant

      8. 6.4.8 Croda International Plc.

      9. 6.4.9 DRILLING SPECIALTIES COMPANY (CHEVRON PHILLIPS CHEMICAL COMPANY)

      10. 6.4.10 DowDuPont

      11. 6.4.11 Eelementis Plc.

      12. 6.4.12 Exxonmobil Corporation

      13. 6.4.13 Flotek Industries Inc.

      14. 6.4.14 Halliburton

      15. 6.4.15 Huntsman International LLC

      16. 6.4.16 Innospec

      17. 6.4.17 Kemira

      18. 6.4.18 Nalco Champion Technologies Inc. (ECOLAB)

      19. 6.4.19 Schlumberger Limited

      20. 6.4.20 Scomi Energy Services BHD (Scomi Group BHD)

      21. 6.4.21 Solvay

      22. 6.4.22 The Lubrizol Corporation

      23. 6.4.23 Zirax Limited

    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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