USD 24.1 billion
Oilfields Chemicals Market Size, Share, Growth Analysis, By Type(Corrosion & Scale Inhibitors, Demulsifiers, Surfactants, Others), By Application(Drilling, Cement, Stimulation, Production), By Terrain Type(Onshore, Offshore), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG10E2017 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
91
|Figures:
76
Oilfields Chemicals Market Insights
Oilfields Chemicals Market size was valued at USD 28.05 Billion in 2023 and is poised to grow from USD 28.95 Billion in 2024 to USD 36.12 Billion by 2032, growing at a CAGR of 3.2% during the forecast period (2025-2032).
Chemicals known as oilfield chemicals are being used to enhance the capacity of tasks carried out at an oilfield plant. In these circumstances, these chemicals are used in drilling, production, completion, and a number of other procedures. These substances are employed in the cleaning of machinery, apparatus, oil, and oil locations. Several sectors, like water treatment and metallurgy, can also benefit from the use of oilfield chemicals.
The need for oilfield chemicals is driven by rising oil and gas production and exploratory activities. Owing to enhanced oil and gas exploration and improvements in in-depth drilling operations, the necessity for oilfield chemicals is expected to expand throughout the projected timeline.
US Oilfields Chemicals Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Offshore
Fastest Growth
Offshore
Growth Rate
3.2% CAGR
Global Oilfields Chemicals Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Oilfields Chemicals Market Segmental Analysis
The global oilfields chemicals market segmentation is based on type, application, terrain type, and region. Based on type, the market is segmented into corrosion & scale inhibitors, demulsifiers, surfactants, and others. Based on application, the market is segmented into drilling, cement, stimulation, and production. Based on terrain type, the market is segmented into onshore and offshore. Based on region the global oilfields chemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Oilfields Chemicals Market Analysis by Type
Demulsifiers are often used to extract water and oil from the oil platform, and as of 2021, this sector has the number one position and is predicted to continue dominating the market. By lessening pipeline corrosion, they alter the density of the oil and facilitate extraction. The expense of equipment downtime will be decreased as a result. Aspects that might be included in the widespread applications of oil the crude water-oil emulsions and water separation, lowering the likelihood of adultery in the oil produced. The sector with the quickest rate of growth is corrosion inhibitors. When the metal surface is exposed to corrosive gases including atmospheric CO2, oxygen, and hydrogen sulfide, corrosion inhibitors are sprayed to stop the corrosion rate.
Oilfields Chemicals Market Analysis by Application
In terms of revenue, the drilling application segment was dominant in 2021 and is likely to remain so over the projection timeframe. The market growth will be driven by the expansion of oil and gas operations made possible by the invention of drilling and hydraulic fracturing techniques. These substances in the drilling sector maintain heat and keep toxic materials out of the drilling fluid system. In order to sustain hydrostatic pressure and prevent the wellbore from breaking, they are often added to the drilling fluid as supplements. The necessity for the product is also expected to rise sharply of technical innovations and an expansion in drilling activity.
Oilfields Chemicals Market Analysis by Terrain type
In 2021, the offshore sector is projected to expand at a robust pace. The development of the sector is being aided by significant public spending in boosting offshore oil and gas manufacturing and exploration initiatives across the US, China, India, Saudi Arabia, and other countries. The sector's sales are also being accelerated by the growing use of specialized oilfield chemicals like biocides and corrosion inhibitors to enable efficient operation in challenging weather parameters.
Global Oilfields Chemicals Market by Terrain Type, 2021 (%)
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Oilfields Chemicals Market Regional Insights
In 2021, North America had the largest market share and will continue to have the leading position for oilfield chemicals over the expected timeframe, due to expanding operations in the oil and gas industry. Additionally, the advancement of drilling and hydraulic fracturing techniques helps dominate the market. With a market value of USD 9.19 billion in 2021, the region conquered the world. Due to the area's advancing technologies and urbanization, the Asia Pacific is expected to have the 2nd largest global market share during the forecast period. Plastic packaging is in greater competition, which supports market expansion.
Global Oilfields Chemicals Market By Geography, 2021 - 2028
- Largest
- Fastest
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Oilfields Chemicals Market Dynamics
Oilfields Chemicals Market Driver
- Chemicals known as oilfield chemicals are used to enhance the capacity of tasks carried out at an oilfield location. Under certain circumstances, these compounds are used in drilling, production, completion, and a number of other procedures. These substances are employed in the cleaning of machinery, equipment, oil, and oil locations.
- The method of treating water uses chemicals out from the oilfield. As the population increases, the current water supply will keep up with the expanding demand. In order to make water appropriate for end-use applications like commercial, catering, agriculture, and consumption, the industrial sector uses unique water treatment processes. The requirement for oilfield chemicals is therefore expected to rise during the projected timeline as the volume of water treatment initiatives rises.
Oilfields Chemicals Market Restraint
- Several chemicals are employed in the processing of the water, gas, and oil extracted from repositories. Several compounds in this treated water have the potential to ruin plants and animals if they are discharged. Over the projection years, these ecological worries are expected to constrain oilfield chemicals globally. This aspect is predicted to restrict the growth of the oilfield chemicals sector.
- Well within the market, crude oil is a feedstock. As a result, the industry for oilfield chemicals will suffer from variations in the cost of crude oil's basic materials. This will therefore hinder the market's growth rate for oilfield chemicals.
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Oilfields Chemicals Market Competitive Landscape
The major players in the market manufacture and distribute their goods directly or through contracts for the sale and distributors. Competitors in the region compete on the basis of variables like cost, content, innovation, brand perception, and supply chain. The majority of market participants are present all over the world. In order to control the domestic market, the overseas companies have agreements with regional businesses. The existence of multiple firms has led to fierce competition and market segmentation in the oil field chemicals sector. For instance, in April 2021, BasoSphere hollow glass microspheres for cementing activities in the oil and gas industry were developed and commercialized with help from BASF and Omya.
Top Players in the Global Oilfields Chemicals Market
- BASF SE
- Clariant
- Halliburton
- Schlumberger Limited
- Baker Hughes Company
- Dow Inc.
- Nalco Champion, an Ecolab Company
- AkzoNobel N.V.
- Solvay S.A.
- Croda International Plc
- Lubrizol Corporation
- Huntsman Corporation
- Innospec Inc.
- Kemira Oyj
- SNF Floerger Group
- Ashland Global Holdings Inc.
- Calumet Specialty Products Partners L.P.
- Chevron Phillips Chemical Company LLC
- Newpark Resources, Inc.
- Stepan Company
Oilfields Chemicals Market Recent Development
- In April 2022, Ingevity Corporation (NYSE:NGVT) introduced its revolutionary EnvaDryTM P-FL dual-functional dry additive and new EnvaWet® UHS 3100 wetting agent for invert emulsion drilling fluids.
- In May 2021, in order to enhance the acceptance of automated drilling systems by drilling contractors and oil and gas operators, Schlumberger and NOV worked together. The strategic alliance will increase security, make manual procedures automatable, and increase the effectiveness of drilling operations.
Oilfields Chemicals Key Market Trends
- Corporations are embracing and producing goods and services that are better and less environmentally destructive in response to growing ecological issues. Future growth is projected to be increased by the finding of new oil and gas reservoirs in several sites, as well as the rise in shale gas and improved oil recovery (EOR) operations. As exploration and development players expand their operations in high-growth economies like China, India, Brazil, Mexico, and Southeast Asia, rapid economic growth by international and local oilfield service firms will boost a rise in oilfield service operations and quantity requirement for these substances. As administrations expand their interest in renewable power and enact stricter regulations, more chemical manufacturers are projected to create oilfield chemicals that are safe and ecologically sound.
Oilfields Chemicals Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the demulsifiers sector dominated the global oilfields chemicals market in 2021 and is expected to maintain its dominance throughout the forecast period. In terms of revenue, the drilling application segment was dominant in 2021 and is likely to remain so over the projection timeframe. In 2021, the industry's offshore sector is projected to expand at a robust pace. In 2021, North America had the largest market share and will continue to have the leading position in the global oilfields chemicals over the expected timeframe, due to expanding operations in the oil and gas industry.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 24.1 billion |
| Market size value in 2031 | USD 35 billion |
| Growth Rate | 3.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Oilfields Chemicals Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Oilfields Chemicals Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Oilfields Chemicals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Oilfields Chemicals Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Oilfields Chemicals Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Oilfields Chemicals Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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