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Global oilfield chemicals market is expected to register a CAGR of 4.64% to reach USD 1,562.2 million by 2025

Press release   •   Jan 16, 2020 16:09 IST

​Global Oilfield Chemicals Market: Information by Type (Inhibitors & Scavengers {Corrosion Inhibitors, Paraffin Inhibitors, Asphaltene Inhibitors, Scale Inhibitors, H2S Scavengers, Oxygen Scavengers, and Others}, Demulsifiers, Friction Reducers, Rheology Modifiers, Biocides, Surfactants, Pour-Point Depressants, and Others), Application (Upstream {Drilling, Well Stimulation, Production Chemicals, Workover & Completion, and Cementing}, Midstream, and Downstream {Water Injection, Alkali Surfactant Water Flooding, and Others}), and Region (North America (US, Canada), Europe(Germany, UK, Russia, France, Spain, Italy, Belgium, and Poland), Asia-Pacific (China, India, Japan, Australia & New Zealand, Indonesia, South Korea, Thailand), Latin America(Brazil, Mexico, and Argentina), and the Middle East & Africa (GCC, South Africa, Iran, Israel, Egypt))—Forecast till 2025

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Market Analysis

Oilfield chemicals are class of specialty chemicals used in the oil & gas industry to enhance the oil extraction process. They are used for drilling optimization, corrosion protection, improving oil recovery, preventing mud loss, stabilizing the drilling fluid at different pressure and temperature, as well as to achieve optimum performance. They play a vital role in various stages of oilfields—upstream, midstream, and downstream. According to our analysis, the global oilfield chemicals market is expected to register a CAGR of 4.64% to reach USD 1,562.2 million by 2025. The growth of the global market is primarily driven by increasing oil & gas exploration activities across the globe. Besides, the increasing crude oil production coupled with deep drilling activities offshore and onshore is the other factors projected to boost the growth of the global oilfield chemicals market, as oilfield chemicals are used in all the stages of the oil & gas industry, including initial drilling of wells, production of oil and gas, and in all the aspects of maintenance of the oilfields, including storage of oil and natural gas in geological conditions (in salt caverns or depleted reservoirs). However, stringent environmental regulations and shift toward renewable energy sources are expected to hamper the global market growth during the forecast period. However, stringent environmental regulations and shift toward renewable energy sources such as solar, wind, geothermal, biomass, and hydropower energy as an alternative to traditional fossil fuels are expected to hamper the growth of global oilfield chemicals market during the forecast period.

Market Segmentation

The global oilfield chemicals market has been segmented based on type, application, and region. Based on type, the global market has been divided into inhibitors & scavengers, demulsifiers, friction reducers, rheology modifiers, surfactants, biocides, pour-point depressants, and others. Inhibitors and scavengers are further sub-segmented into corrosion inhibitors, paraffin inhibitors, asphaltene inhibitors, scale inhibitors, H2S scavengers, oxygen scavengers, and others. The corrosion inhibitors segment accounted for the largest market share in 2018 due to increasing applications in the manufacturing of pipes, water tanks, and other equipment. By application, the global oilfield chemicals market has been classified into upstream, downstream and midstream. The upstream segment has been further sub-segmented into drilling, well stimulation, production chemicals, cementing, and workover & completion. The downstream segment is further bifurcated into water injection, alkali surfactant water flooding, and other. The upstream segment accounted for about half of the overall oilfield chemicals demand in 2018. The downstream is expected to growth at fastest rate during the forecast period.

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Regional Analysis

Geographically, Global Oilfield Chemicals Market has been split into regions like North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. The North America market dominated the global oil market with a share of 44.3% by value in 2018 and is expected to register a CAGR of 5.07% during the forecast period. the growth of the market is driven by increasing crude oil production and increasing investment in the shale gas exploration activity in the US. Asia-Pacific accounted for second-largest share in 2018 and is expected to witness fastest growth during the forecast period. The growth of the regional market is attributed to the presence of a large number of downstream companies in the region along with the increasing investments in deep water and ultra-deep-water exploration in the South China Sea and proposed expansions in oil exploration across the South-East Asian countries such as Thailand, Vietnam, Indonesia, and Malaysia. The European market is expected to exhibit a CAGR of 4.76% during the forecast period. Russia, Germany, and the UK are among the largest countries in the upstream exploration, which is expected to drive the demand. Besides, the presence of large downstream companies in the region is expected to further boost the demand for various oilfield chemicals in the region.

Major Players

Schlumberger Limited (US), Baker Hughes, a GE Company LLC (UK), Ideal Energy Solutions, LLC (US), Royal Dutch Shell PLC (The Netherlands), BASF SE (Germany), Solvay (Belgium), Halliburton (US), Clariant (US), Kemira (Finland), Albemarle Corporation (US), Stepan Company (US), Nalco Champion (US), Croda International PLC (UK), Huntsman International LLC (US), Ashland (US), and The Lubrizol Corporation (US).are some of the major players in the Global Oilfield Chemicals Market.
The key players operating in the global oilfield chemicals market are primarily focusing on the development of sophisticated and advanced mixes of oilfield chemicals. For instance, in September 2019 Clariant has come up with its latest WAXTREAT SubZero Pour Point Depressant (PPD), which will help the oil & gas companies, especially in the cold regions, to overcome challenges such as mitigation of wax deposition and transportation of waxy crude oils while reducing OPEX requirement during the cleaning of pipelines. Furthermore, some of the key strategies followed by the players operating in the global oilfield chemicals market are expansion, acquisitions, investments, joint ventures, agreements, and collaborations. Such as, In February 2018, Halliburton opened the first oilfield chemical manufacturing reaction plant in Saudi Arabia. The plant will manufacture specialty chemicals, which find applications ranging from reservoirs to refineries.

Table of Content

Global Oilfield Chemicals Market Size, Share, Price, Growth Trends, Competitive Analysis and Report

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS 23

1.1.1 GLOBAL OILFIELD CHEMICALS MARKET, BY TYPE 24

1.1.2 GLOBAL OILFIELD CHEMICALS MARKET, BY INHIBITORS & SCAVENGERS 25

1.1.3 GLOBAL OILFIELD CHEMICALS MARKET, BY APPLICATION 26

1.1.4 GLOBAL OILFIELD CHEMICALS MARKET, UPSTREAM BY APPLICATION 27

1.1.5 GLOBAL OILFIELD CHEMICALS MARKET, DOWNSTREAM BY APPLICATION 28

1.1.6 GLOBAL OILFIELD CHEMICALS MARKET, BY REGION 29

2 Market Introduction
2.1 DEFINITION 30

2.2 SCOPE OF THE STUDY 30

2.3 MARKET STRUCTURE 31

3 Research Methodology
3.1 RESEARCH PROCESS 32

3.2 PRIMARY RESEARCH 33

3.3 SECONDARY RESEARCH 34

3.4 MARKET SIZE ESTIMATION 35

3.5 FORECAST MODEL 36

3.6 LIST OF ASSUMPTIONS 37

4 MARKET DYNAMICS
4.1 INTRODUCTION 38

4.2 DRIVERS 40

4.2.1 GROWTH OF THE OIL & GAS INDUSTRY 40

4.2.2 RAPIDLY GROWING SHALE GAS EXPLORATION IN THE US 41

4.2.3 DRIVER IMPACT ANALYSIS 42

4.3 RESTRAINT 43

4.3.1 INCREASING PREFERENCE FOR RENEWABLE SOURCES OF ENERGY 43

4.3.2 RESTRAINT IMPACT ANALYSIS 44

4.4 OPPORTUNITIES 44

4.4.1 ROBUST OUTLOOK OF SHALE GAS EXTRACTION IN ASIA 44

4.4.2 INCREASING INVESTMENTS IN OIL & GAS EXPLORATION IN DEVELOPING COUNTRIES 45

4.5 TRENDS 45

4.5.1 EMPHASIS ON EXPANDING BUSINESS PRESENCE AND CAPACITY EXPANSION 45

4.5.2 DEVELOPMENT OF INNOVATIVE AND ADVANCED OILFIELD CHEMICALS 46

5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS 47

5.1.1 RAW MATERIAL SUPPLIERS 47

5.1.2 OILFIELD CHEMICAL PRODUCERS 48

5.1.3 DISTRIBUTION CHANNEL 48

5.1.4 END USE 48

5.2 PORTER’S FIVE FORCES MODEL 49

5.2.1 THREAT OF NEW ENTRANTS 49

5.2.2 INTENSITY OF RIVALRY 50

5.2.3 THREAT OF SUBSTITUTES 50

5.2.4 BARGAINING POWER OF SUPPLIERS 50

5.2.5 BARGAINING POWER OF BUYERS 50

6 GLOBAL OILFIELD CHEMICALS MARKET, BY TYPE
6.1 OVERVIEW 51

6.2 INHIBITORS & SCAVENGERS 54

6.2.1 INHIBITORS & SCAVENGERS: MARKET ESTIMATES & FORECAST, BY TYPE, 2017–2025 54

6.2.2 INHIBITORS & SCAVENGERS: MARKET ESTIMATES & FORECAST, BY REGION, 2017–2025 55

6.2.3 CORROSION INHIBITORS 56

6.2.4 PARAFFIN INHIBITORS 57

6.2.5 SCALE INHIBITORS 58

6.2.6 ASPHALTENE INHIBITORS 59

6.2.7 H2S SCAVENGERS 60

6.2.8 OXYGEN SCAVENGERS 61

6.2.9 OTHERS 62

6.3 DEMULSIFIERS 63

6.4 RHEOLOGY MODIFIERS 64

6.5 SURFACTANTS 65

6.6 FRICTION REDUCERS 66

6.7 BIOCIDES 67

6.8 POUR-POINT DEPRESSANTS\ 68

6.9 OTHERS 69

7 GLOBAL OILFIELD CHEMICALS MARKET, BY APPLICATION
7.1 OVERVIEW 71

7.2 UPSTREAM 74

7.2.1 UPSTREAM: MARKET ESTIMATES & FORECAST, BY APPLICATION, 2017–2025 74

7.2.2 UPSTREAM: MARKET ESTIMATES & FORECAST, BY REGION, 2017–2025 75

7.2.3 WELL STIMULATION 76

7.2.4 DRILLING 77

7.2.5 PRODUCTION CHEMICALS 78

7.2.6 CEMENTING 79

7.2.7 WORKOVER & COMPLETION 80

7.3 DOWNSTREAM 81

7.3.1 DOWNSTREAM: MARKET ESTIMATES & FORECAST, BY APPLICATION, 2017–2025 81

7.3.2 DOWNSTREAM: MARKET ESTIMATES & FORECAST, BY REGION, 2017–2025 82

7.3.3 WATER INJECTION 83

7.3.4 ALKALI SURFACTANT WATER FLOODING 84

7.3.5 OTHERS 85

7.4 MIDSTREAM 86

8 GLOBAL OILFIELD CHEMICALS MARKET, BY REGION
8.1 OVERVIEW 88

8.2 NORTH AMERICA 91

8.2.1 US 97

8.2.2 CANADA 99

8.3 EUROPE 101

8.3.1 GERMANY 107

8.3.2 UK 109

8.3.3 FRANCE 111

8.3.4 SPAIN 113

8.3.5 ITALY 115

8.3.6 RUSSIA 117

8.3.7 POLAND 119

8.3.8 BELGIUM 121

8.3.9 REST OF EUROPE 123

8.4 ASIA-PACIFIC 125

8.4.1 CHINA 131

8.4.2 JAPAN 133

8.4.3 INDIA 135

8.4.4 AUSTRALIA & NEW ZEALAND 137

8.4.5 SOUTH KOREA 139

8.4.6 INDONESIA 141

8.4.7 THAILAND 143

8.4.8 REST OF ASIA-PACIFIC 145

8.5 MIDDLE EAST & AFRICA 147

8.5.1 GCC 153

8.5.2 IRAN 155

8.5.3 ISRAEL 157

8.5.4 SOUTH AFRICA 159

8.5.5 EGYPT 161

8.5.6 REST OF MIDDLE EAST & AFRICA 163

8.6 LATIN AMERICA 165

8.6.1 BRAZIL 171

8.6.2 MEXICO 173

8.6.3 ARGENTINA 175

8.6.4 REST OF LATIN AMERICA 177

9 COMPETITIVE LANDSCAPE
9.1 COMPETITIVE OVERVIEW 180

9.2 GLOBAL MARKET STRATEGY ANALYSIS 180

9.3 KEY DEVELOPMENTS 181

9.4 COMPETITIVE BENCHMARKING 183

10 COMPANY PROFILES
10.1 SCHLUMBERGER LIMITED 184

10.1.1 COMPANY OVERVIEW 184

10.1.2 FINANCIAL OVERVIEW 185

10.1.3 PRODUCT OFFERINGS 185

10.1.4 KEY DEVELOPMENTS 186

10.1.5 SWOT ANALYSIS 187

10.1.6 KEY STRATEGIES 187

10.2 BAKER HUGHES, A GE COMPANY LLC 188

10.2.1 COMPANY OVERVIEW 188

10.2.2 FINANCIAL OVERVIEW 189

10.2.3 PRODUCT OFFERINGS 189

10.2.4 KEY DEVELOPMENTS 190

10.2.5 SWOT ANALYSIS 191

10.2.6 KEY STRATEGIES 191

10.3 IDEAL ENERGY SOLUTIONS, LLC 192

10.3.1 COMPANY OVERVIEW 192

10.3.2 FINANCIAL OVERVIEW 192

10.3.3 PRODUCT OFFERINGS 192

10.3.4 KEY DEVELOPMENTS 193

10.3.5 SWOT ANALYSIS 193

10.3.6 KEY STRATEGIES 193

10.4 ROYAL DUTCH SHELL PLC 194

10.4.1 COMPANY OVERVIEW 194

10.4.2 FINANCIAL OVERVIEW 194

10.4.3 PRODUCT OFFERINGS 195

10.4.4 KEY DEVELOPMENTS 195

10.4.5 SWOT ANALYSIS 196

10.4.6 KEY STRATEGIES 196

10.5 BASF SE 197

10.5.1 COMPANY OVERVIEW 197

10.5.2 FINANCIAL OVERVIEW 197

10.5.3 PRODUCT OFFERINGS 198

10.5.4 KEY DEVELOPMENTS 198

10.5.5 SWOT ANALYSIS 199

10.5.6 KEY STRATEGIES 199

10.6 SOLVAY 200

10.6.1 COMPANY OVERVIEW 200

10.6.2 FINANCIAL OVERVIEW 200

10.6.3 PRODUCT OFFERINGS 201

10.6.4 KEY DEVELOPMENTS 202

10.6.5 SWOT ANALYSIS 203

10.6.6 KEY STRATEGIES 203

10.7 HALLIBURTON 204

10.7.1 COMPANY OVERVIEW 204

10.7.2 FINANCIAL OVERVIEW 204

10.7.3 PRODUCT OFFERINGS 205

10.7.4 KEY DEVELOPMENTS 206

10.7.5 SWOT ANALYSIS 207

10.7.6 KEY STRATEGIES 207

10.8 CLARIANT 208

10.8.1 COMPANY OVERVIEW 208

10.8.2 FINANCIAL OVERVIEW 208

10.8.3 PRODUCT OFFERINGS 209

10.8.4 KEY DEVELOPMENTS 209

10.8.5 SWOT ANALYSIS 210

10.8.6 KEY STRATEGIES 210

10.9 KEMIRA 211

10.9.1 COMPANY OVERVIEW 211

10.9.2 FINANCIAL OVERVIEW 211

10.9.3 PRODUCT OFFERINGS 212

10.9.4 KEY DEVELOPMENTS 212

10.9.5 SWOT ANALYSIS 213

10.9.6 KEY STRATEGIES 213

10.10 ALBEMARLE CORPORATION 214

10.10.1 COMPANY OVERVIEW 214

10.10.2 FINANCIAL OVERVIEW 214

10.10.3 PRODUCT OFFERINGS 215

10.10.4 KEY DEVELOPMENTS 215

10.10.5 SWOT ANALYSIS 216

10.10.6 KEY STRATEGIES 216

10.11 STEPAN COMPANY 217

10.11.1 COMPANY OVERVIEW 217

10.11.2 FINANCIAL OVERVIEW 217

10.11.3 PRODUCT OFFERINGS 218

10.11.4 KEY DEVELOPMENTS 218

10.11.5 SWOT ANALYSIS 219

10.11.6 KEY STRATEGIES 219

10.12 NALCO CHAMPION 220

10.12.1 COMPANY OVERVIEW 220

10.12.2 FINANCIAL OVERVIEW 220

10.12.3 PRODUCT OFFERINGS 221

10.12.4 KEY DEVELOPMENTS 221

10.12.5 SWOT ANALYSIS 222

10.12.6 KEY STRATEGIES 222

10.13 CRODA INTERNATIONAL PLC 223

10.13.1 COMPANY OVERVIEW 223

10.13.2 FINANCIAL OVERVIEW 223

10.13.3 PRODUCT OFFERINGS 224

10.13.4 KEY DEVELOPMENTS 225

10.13.5 SWOT ANALYSIS 226

10.13.6 KEY STRATEGIES 226

10.14 HUNTSMAN INTERNATIONAL LLC 227

10.14.1 COMPANY OVERVIEW 227

10.14.2 FINANCIAL OVERVIEW 228

10.14.3 PRODUCT OFFERINGS 228

10.14.4 KEY DEVELOPMENTS 230

10.14.5 SWOT ANALYSIS 231

10.14.6 KEY STRATEGIES 231

10.15 ASHLAND 232

10.15.1 COMPANY OVERVIEW 232

10.15.2 FINANCIAL OVERVIEW 232

10.15.3 PRODUCT OFFERINGS 233

10.15.4 KEY DEVELOPMENTS 233

10.15.5 SWOT ANALYSIS 234

10.15.6 KEY STRATEGIES 234

10.16 THE LUBRIZOL CORPORATION 235

10.16.1 COMPANY OVERVIEW 235

10.16.2 FINANCIAL OVERVIEW 235

10.16.3 PRODUCT OFFERINGS 235

10.16.4 KEY DEVELOPMENTS 235

10.16.5 SWOT ANALYSIS 236

10.16.6 KEY STRATEGIES 236

11 APPENDIX
11.1 REFERENCES 237

11.2 RELATED REPORTS 237

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