The global Oilfield Chemicals Market is projected to grow from USD 24.21 Bn in 2021 to 33.43 Bn by 2030, at a CAGR of 3.65% in forecast period, 2022-2030.
The high demand especially in oil production and exploration operations, augmented usage in the water treatment process and the expanding investments by the governments of several countries propel the growth rate of oilfield chemicals market. Thus, such factors aid in augmentation of the overall oil and gas infrastructure by enhancing the petroleum operations such as hydraulic fracturing along with maximized penetration level of the drilling fluids.
Oilfield chemicals comprise multiple specialty chemicals which are majorly used in oil and gas industry for activities as the corrosion inhibitors and hydrocarbon dispersants. These chemicals are aimed to improve such oilfield activities by improving their efficiency along with the efficacy. Thus, these oil field chemicals provide important economic benefits that help in the recovery of hydrocarbons. Furthermore, oil field chemicals aid in expanding the production, workover and completion especially while drilling the fluids. Therefore, such oilfield chemicals are exclusively used in petroleum-derived lubricants, cementing and drilling fluids.
Oilfield Chemicals Market Research Report” was just released by Market Research Community. It is divided into several categories, including type by Product (Corrosion & Scale Inhibitors, Demulsifier, Surfactants, and Others) and Application (Drilling, Cement, Stimulation, and Production), By Terrain Type (Onshore, Offshore), By Chemical Type (Demulsifiers, Corrosion Inhibitors, Water Clarifiers, Biocides, Scale Inhibitors, Paraffin Inhibitors, Hydrogen Sulfide Scavengers, Gas Well Foamers, Others), and companies (BASF, Chevron Phillips Chemical Company LLC., The Lubrizol Corporation, Clariant Specialty Chemicals, Baker Hughes Inc., Halliburton, Schlumberger Ltd., Weatherford International Ltd, Diamoco Group, Royal Dutch Shell Plc, Solvay S.A and Croda International Plc.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 3.65%, over the forecast period of 2022–2030
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||33.43 Billion|
|By Terrain Type||Onshore, Offshore|
|By Chemical Type||Demulsifiers, Corrosion Inhibitors, Others|
|By Application||Drilling, Cement, Stimulation, and Production|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||BASF, Chevron Phillips Chemical Company LLC., The Lubrizol Corporation, Clariant Specialty Chemicals, Baker Hughes Inc., Halliburton, Schlumberger Ltd., Weatherford International Ltd, Diamoco Group, Royal Dutch Shell Plc, Solvay S.A and Croda International Plc.|
The COVID-19 pandemic has had a substantial negative influence on the Oilfield Chemicals market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
BASF, Chevron Phillips Chemical Company LLC., The Lubrizol Corporation, Clariant Specialty Chemicals, Baker Hughes Inc., Halliburton, Schlumberger Ltd., Weatherford International Ltd, Diamoco Group, Royal Dutch Shell Plc, Solvay S.A and Croda International Plc.
Market Segment Analysis:
By Chemical Type
- Paraffin Inhibitors
- Hydrogen Sulfide Scavengers
- Gas Well Foamers
- Corrosion Inhibitors
- Water Clarifiers
- Scale Inhibitor
By Terrain Type :
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Oilfield Chemicals industries in the region.
Key Oilfield Chemicals Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Oilfield Chemicals Market segments.
– Largest Market Share Held by Industry to Industry for Oilfield Chemicals
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Oilfield Chemicals Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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