The global oilfield chemicals market size reached US$ 23.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 30.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028. The growing demand for energy in the residential, commercial, and industrial sectors, rising employment of shale gas for generating electricity, and increasing adoption of drilling fluids for applying hydrostatic pressure represent some of the key factors driving the market.
Oilfield chemicals consists of fibers, suspension, clay control, biocides, polymers, rheology chemicals, surface modifiers, and fillers. These chemicals also comprise surfactants, acids, friction reducers, iron control agents, polymers, retarders, deformers, emulsifiers, and demulsifiers. They are effective in preventing unwanted microbial growth in oil and gas pipelines, which can cause gas sourcing, pipeline clogging, and microbial-induced corrosion of equipment and transportation pipes. Oilfield chemicals function as effective emulsion breakers and are used to separate crude oil, such as petroleum, from water. These chemicals restrict abrasive materials to cause hindrances in the pipelines and reduce friction in metal-to-metal contact and provide lubricity to the drill string in open holes of deviated wells. They are also employed to prevent the formation of insoluble calcium salts when the drilling fluid contacts formation minerals and saline formation water. Furthermore, as oilfield chemicals inhibit undesirable foaming and help in pH control, their demand is increasing around the world.
2. What is the expected growth rate of the global oilfield chemicals market during 2023-2028?
3. What are the key factors driving the global oilfield chemicals market?
4. What has been the impact of COVID-19 on the global oilfield chemicals market?
5. What is the breakup of the global oilfield chemicals market based on the location?
6. What is the breakup of the global oilfield chemicals market based on the application?
7. What are the key regions in the global oilfield chemicals market?
8. Who are the key players/companies in the global oilfield chemicals market?
Oilfield chemicals consists of fibers, suspension, clay control, biocides, polymers, rheology chemicals, surface modifiers, and fillers. These chemicals also comprise surfactants, acids, friction reducers, iron control agents, polymers, retarders, deformers, emulsifiers, and demulsifiers. They are effective in preventing unwanted microbial growth in oil and gas pipelines, which can cause gas sourcing, pipeline clogging, and microbial-induced corrosion of equipment and transportation pipes. Oilfield chemicals function as effective emulsion breakers and are used to separate crude oil, such as petroleum, from water. These chemicals restrict abrasive materials to cause hindrances in the pipelines and reduce friction in metal-to-metal contact and provide lubricity to the drill string in open holes of deviated wells. They are also employed to prevent the formation of insoluble calcium salts when the drilling fluid contacts formation minerals and saline formation water. Furthermore, as oilfield chemicals inhibit undesirable foaming and help in pH control, their demand is increasing around the world.
Oilfield Chemicals Market Trends:
At present, the rising demand for oilfield chemicals for drilling, cementing, and well-stimulation purposes represents one of the primary factors influencing the market positively. Besides this, the increasing utilization of petroleum and petroleum-based fuels to operate vehicles and generate energy is propelling the growth of the market. In addition, the growing demand for energy in the residential, commercial, and industrial sectors to operate various electronic appliances and heavy machinery is offering a favorable market outlook. Apart from this, the rising employment of shale gas for generating electricity and domestic heating and cooking purposes is contributing to the growth of the market. Additionally, the increasing adoption of drilling fluids for applying hydrostatic pressure to maintain the temperature and cleanliness of the drill and prevent formation fluids from entering wells is supporting the market growth. Moreover, the rising usage of various eco-friendly oilfield chemicals with lower exposure toxicity, reduced flammability or flashpoint, enhanced biodegradability, minimized bioaccumulation, and high sustainability in application and production is strengthening the market growth. Furthermore, key market players are manufacturing novel demulsifiers that offer oil producers a more suitable option to separate crude oil from a combination of natural gas and water.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global oilfield chemicals market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, location and application.Product Insights:
- Inhibitors
- Demulsifiers
- Rheology Modifiers
- Friction Reducers
- Biocides
- Surfactants
- Foamers
- Others
Location Insights:
- Onshore
- Offshore
Application Insights:
- Drilling Fluid
- Production Chemicals
- Cementing
- Workover and Completion
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global oilfield chemicals market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Albemarle Corporation, Ashland, Baker Hughes Company, BASF SE, CES Energy Solutions Corp., ChampionX Corporation, Chevron Phillips Chemical Company, Clariant AG, Halliburton, Huntsman International LLC, Kemira Oyj, Stepan Company, The Dow Chemical Company, The Lubrizol Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. What was the size of the global oilfield chemicals market in 2022?2. What is the expected growth rate of the global oilfield chemicals market during 2023-2028?
3. What are the key factors driving the global oilfield chemicals market?
4. What has been the impact of COVID-19 on the global oilfield chemicals market?
5. What is the breakup of the global oilfield chemicals market based on the location?
6. What is the breakup of the global oilfield chemicals market based on the application?
7. What are the key regions in the global oilfield chemicals market?
8. Who are the key players/companies in the global oilfield chemicals market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Oilfield Chemicals Market
6 Market Breakup by Product
7 Market Breakup by Location
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Albemarle Corporation
- Ashland
- Baker Hughes Company
- BASF SE
- CES Energy Solutions Corp.
- ChampionX Corporation
- Chevron Phillips Chemical Company
- Clariant AG
- Halliburton
- Huntsman International LLC
- Kemira Oyj
- Stepan Company
- The Dow Chemical Company
- The Lubrizol Corporation.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | July 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 23 Billion |
| Forecasted Market Value ( USD | $ 30 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
