Oilfield Production Chemicals Market Overview
According to a research survey conducted by ChemView Consulting, the current valuation of the Global Oilfield Production Chemicals Market is worth US$ 10,892.1 Mn in 2022. The market value of stainless steel is expected to reach US$ 3,905.3 Mn by 2032, growing at a CAGR of 3.6% over the forecast period.
Enormous growth opportunities exist for manufacturers that develop customised product formulations and offer strong technical support. The discovery of new oil and gas fields in various regions, as well as shale gas and enhanced oil recovery (EOR) expansion activities, will boost growth prospects. Oilfield chemicals market growth is projected to be boosted by rising product demand in various petroleum operations such as well stimulation, drilling, cementing, production, hydraulic fracturing, and enhanced oil recovery.
The demand for various drilling projects is rising quickly due to increased oil production and exploration operations. Another significant class of chemicals used mostly during the exploration stage are drilling fluids. Drilling fluids perform various functions, such as maintaining the drill bit’s temperature and cleanliness to increase penetration level and applying hydrostatic pressure to stop formation fluids from entering wells.
ChemView Consulting has analyzed that plastics like polyethylene, polypropylene, and polystyrene are created using a significant portion of the worldwide petrochemicals. Over the past few decades, demand for these polymers has dramatically expanded, particularly in key end-use industries like plastic food and another commercial product packaging. This upward tendency will likely persist during the projected period, particularly in developing nations in the Asia Pacific, Latin America, and Africa. Food waste is decreased by the longer shelf life of plastics, resulting in less fuel being used to transport commodities. It provides many direct economic advantages and can help with resource optimization, which is essential for developing emerging economies.
Demulsifiers are frequently utilized in both onshore and offshore oil production operations. Demand is anticipated to rise due to rising onshore and offshore oil production activities. Demulsifiers made up 49.4% of the market’s value share in 2021 and are expected to increase to 51.2% by the end of 2032.
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Segments Covered in Report
- Corrosion Inhibitors
- Paraffin Inhibitors
- Hydrate Inhibitors
- H2S Scavengers
- Scale Inhibitors
- Production Methods
- Storage & Transportation
- Safe Disposal gas
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Oilfield Production Chemicals Market
- Based on the type, the demulsifier segment is anticipated to expand expand at a special rate of 5% CAGR. Demand is expected to rise as onshore and offshore oil production activities increase. Demulsifiers accounted for 49.4% of market value in 2021 and are expected to rise to 51.2% by the end of 2032.
- The Middle East has a market share of 5% and is experiencing strong growth. These markets are mostly attributable to rising drilling and oil exploration activities to meet the demand for natural gas and crude oil on a global scale. Due to Saudi Arabia’s advantageous location and proximity to other MEA nations, few businesses are considering local manufacturing there.
- The growing number of exploration projects in Europe and the Middle East, such as Russia, Kazakhstan, Saudi Arabia, and others, is expected to support demand for oilfield chemicals. Furthermore, APAC is a significant market due to the establishment of new refineries to meet the country’s growing demand for new units.
Enormous growth opportunities exist for manufacturers that develop customised product formulations and offer strong technical support. The advancement of innovative, advanced oilfield chemicals with superior performance characteristics and environmental friendliness has paved the way for increased application use, premium prices, and market growth.
Participants are conducting high-level research and development in order to introduce customised, cost-effective, eco-friendly produce formulations that will work in extremely difficult operational environments such as complex rock formations.
Key companies covered in the market study are Arkema S.A, Clariant AG, BASF SE, Halliburton Co., Albemarle Corporation Company, Huntsman Corporation, ECOLAB Inc., Solvay S.A., Hexion Inc., Baker Hughes, Akzo Nobel N.V, Ashland Global Holdings Inc., Dow Dupont Inc.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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