The Kuwait & Iraq Oilfield Chemicals market was valued at $552.2 million in 2019, and is projected to reach $706.1 million by 2027, growing at a CAGR of 3.8% from 2020 to 2027.
Oilfield chemicals are used in various stages of oil & gas exploration for the efficient operations. Various types of oilfield chemicals are used in oilfields to reduce the maintenance of the equipment and to improve efficiency of the processes. These chemicals are applicable in different stages of oil exploration and are an integral part of the oil & gas industry. They provide high performance, temperature stability, and inhibit contamination in the drilling fluid system. In the production division, these chemicals help separate oil from gas & water, enable consistent flow of oil from well, and enhance oil production.
The oilfield & other industrial chemicals market in Kuwait and Iraq are primarily driven by the factors such as increase in oil & gas exploration and production activities and a rise in demand for advanced drilling fluids. However, stringent government regulations and variations in the crude oil prices are expected to restrain the market growth. Whereas, growing investment in the oil & gas exploration and production activities and emergence of eco-friendly oilfield chemicals are anticipated to provide lucrative growth opportunities for the key players to maintain the pace in the market.
The Kuwait & Iraq Oilfield Chemicals market is segmented into application and country. Depending on application, the market is classified into drilling, production, refining & processing, water treatment, and other industries. Drilling is further sub-segmented into stimulation, cementing, and drilling fluids. Drilling fluids is further sub-segmented into water based, oil based and synthetic based. Production segment is sub-classified into production and treatment facilities and enhanced oil recovery. Water treatment is divided into desalination, water treatment, and waste water treatment. Country wise, the oilfield & other industrial chemicals market is analyzed across the Kuwait and Iraq.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
BY Application
BY Country
KEY MARKET PLAYERS
The other players in the value chain include Al-Kout Industrial Projects K.P.S.C, Ahlia Industrial Projects, Delmon Group, Al-Burhan Group, GZTA, Imperial Oilfield Chemicals Pvt. Ltd., Jawar Al Khaleej Shipping LLC, and others.
The oilfield & other industrial chemicals market in Kuwait and Iraq are primarily driven by the factors such as increase in oil & gas exploration and production activities and a rise in demand for advanced drilling fluids. However, stringent government regulations and variations in the crude oil prices are expected to restrain the market growth. Whereas, growing investment in the oil & gas exploration and production activities and emergence of eco-friendly oilfield chemicals are anticipated to provide lucrative growth opportunities for the key players to maintain the pace in the market.
The Kuwait & Iraq Oilfield Chemicals market is segmented into application and country. Depending on application, the market is classified into drilling, production, refining & processing, water treatment, and other industries. Drilling is further sub-segmented into stimulation, cementing, and drilling fluids. Drilling fluids is further sub-segmented into water based, oil based and synthetic based. Production segment is sub-classified into production and treatment facilities and enhanced oil recovery. Water treatment is divided into desalination, water treatment, and waste water treatment. Country wise, the oilfield & other industrial chemicals market is analyzed across the Kuwait and Iraq.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the Kuwait & Iraq Oilfield Chemicals market from 2019 to 2026 to determine the prevailing opportunities.
- A comprehensive oilfield & other industrial chemicals market analysis of the factors that drive and restrict the growth of the market is provided.
- Estimations and forecast are based on factors impacting the oilfield & other industrial chemicals market growth, in terms of both value and volume.
- Profiles of leading players operating in the market are provided to understand the regional competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
KEY MARKET SEGMENTS
BY Application
- Drilling
- Production
- Refining & Processing
- Water Treatment
- Other Industries
BY Country
- Kuwait
- Iraq
KEY MARKET PLAYERS
- Solvay SA
- BASF SE
- Baker Hughes Company
- Schlumberger Limited
- Croda International Plc
- Catalyst LLC
- Jereh Global Development LLC
- Al Sanea Chemical Products
- Chevron Corporation
- Petroleum Equipment Technology Corporation
- Halliburton
The other players in the value chain include Al-Kout Industrial Projects K.P.S.C, Ahlia Industrial Projects, Delmon Group, Al-Burhan Group, GZTA, Imperial Oilfield Chemicals Pvt. Ltd., Jawar Al Khaleej Shipping LLC, and others.
Frequently Asked Questions about the Kuwaiti & Iraq Oilfield Chemicals Market
What is the estimated value of the Kuwaiti & Iraq Oilfield Chemicals Market?
What is the growth rate of the Kuwaiti & Iraq Oilfield Chemicals Market?
What is the forecasted size of the Kuwaiti & Iraq Oilfield Chemicals Market?
Who are the key companies in the Kuwaiti & Iraq Oilfield Chemicals Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 217 |
| Published | May 2020 |
| Forecast Period | 2019 - 2027 |
| Estimated Market Value ( USD | $ 552.2 million |
| Forecasted Market Value ( USD | $ 706.1 million |
| Compound Annual Growth Rate | 3.1% |
| Regions Covered | Iraq, Kuwait |
| No. of Companies Mentioned | 7 |
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Kuwait & Iraq Oilfield Chemicals Market, by Application
Chapter 5: Oilfield & Other Industrial Chemicals Market, by Region
Chapter 6: Competitive Landscape
Chapter 7: Company Profiles:
Chapter 8: Business Oppurtinuties & Statergic Recommendations
Executive Summary
According to the report titled, 'Kuwait & Iraq Oilfield Chemicals Market by Application: Opportunity Analysis and Industry Forecast, 2020-2027' the oilfield & other industrial chemicals market was valued at $552.2 million in 2019, and is projected to reach $706.1 million by 2027, growing at a CAGR of 3.8% from 2020 to 2027. Oilfield chemicals are chemical components that are used in various stages of oil & gas exploration to enhance these operations by improving productivity and efficiency of oil drilling processes.. These chemicals allow temperature stability, high performance, and inhibit contamination in the drilling fluid system. It also reduces the expenses due to stoppages & delays by maintaining smooth operating oilfields. Moreover, these chemicals find extensive application in different stages of oil exploration and are an integral part of the oil & gas industry.The growth of the Kuwait & Iraq Oilfield Chemicals market is fueled by rise in oil & gas exploration and production activities in Kuwait and Iraq. In addition, rise in demand for advanced drilling fluids fuels the growth of the market in Kuwait and Iraq. Moreover, majority of the companies have adopted business expansion, agreement, and acquisition as their key business strategies to maintain their position in the market. However, stringent government regulations and fluctuations in crude oil prices may hinder market growth during the forecast period.
On the basis of application, the drilling segment dominated the Kuwait & Iraq oilfield & industrial chemicals market share by accounting for the highest revenue in 2019, owing to growing exploration and production activities that demand oilfield chemicals in stimulation, cementing, and drilling fluids application areas.
On the basis of country, the oilfield & other industrial chemicals market size is analyzed across two major countries such as Kuwait and Iraq. Iraq registered the highest market share in 2019, owing to increase in demand from oil and gas production and upgrading activities in this country.
The Kuwait & Iraq Oilfield Chemicals market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the Kuwait & Iraq Oilfield Chemicals market include Solvay SA, BASF SE, Baker Hughes Company, Schlumberger Limited, Croda International Plc, Catalyst LLC, Jereh Global Development LLC, Al Sanea Chemical Products, Chevron Corporation, Petroleum Equipment Technology Corporation, and Halliburton.
Other players in the value chain of the oilfield & other industrial chemicals market include Al-Kout Industrial Projects K.P.S.C, Ahlia Industrial Projects, Delmon Group, Al-Burhan Group, GZTA, Imperial Oilfield Chemicals Pvt. Ltd., Jawar Al Khaleej Shipping LLC, and others.
The Kuwait & Iraq Oilfield Chemicals market analysis covers pricing analysis for the major key players profiled in the Kuwait and Iraq region. In addition, market analysis covers product mapping for manufacturers, distributors and end-users (More than 10 players each) in the Kuwait and Iraq region separately.
Key Findings of the Study:
By application, the drilling segment emerged as the key leader by acquiring around 67.5% market share in 2019, and is anticipated to be the largest market during the forecast period.
Iraq is the major consumer of oilfield & other industrial chemicals market as compare to Kuwait. It accounted for around 55.0% of the total market share in 2019 as a result of rapid growth in oil and gas production activities in the country.
On the basis of growth rate, the production segment registered the highest CAGR of 4.4% in the Kuwait and Iraq oilfield & other industrial chemicals market during the forecast period.
Companies Mentioned
- K.P.S.C
- Ahlia Industrial Projects
- Delmon Group
- Al-Burhan Group
- GZTA
- Imperial Oilfield Chemicals Pvt. Ltd.
- Jawar Al Khaleej Shipping LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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