Global Oilfield Chemicals Market by Product (Surfactants, Friction Reducers, Inhibitors, Demulsifiers, Biocides, Foamers, Rheology Modifiers) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2016, the global oilfield chemicals market was worth USD 19.93 billion. The global oilfield chemicals market is expected to grow due to rising demand for products in different petroleum operations, including drilling, well stimulation and production. Over the forecast period, oilfield chemicals demand will be driven by rising crude oil production, shifting towards unconventional drilling operations, as well as increasing complexity of operations.

One of the most important application areas for specialty oilfield chemicals is workover and completion. It is necessary to maximize the production of existing reservoirs through the creation of favorable flow paths by hydraulic fracturing or matrix stimulation. The design and type of well will determine the point at which the completion process begins. There are many options and actions that can be taken during each stage of a well. This has a major impact on its productivity. The reservoir's completion quality can have a significant impact on its production. This helps to save both time and money.

By 2025, the U.S. oilfield chemicals market will have a value exceeding USD 7.10 million. The shale gas revolution has brought a renewed strength in oil exploration, production, and has resulted in an increase in demand for oilfield chemicals.

These chemicals are made synthetically from raw materials such as and polyanionic.cellulose. Some of the raw materials used in natural products come from biological sources, such as fruits and plants. In smaller quantities, carboxymethyl hydroxyethylcellulose and hydroxypropylcellulose are also used.

In the past few years, there has been a shift of consumer demand for natural and environment-friendly products. Some manufacturers have developed new products and services to address the changing energy demands and technologies.

The high cost of disposing of toxic chemicals is a major problem in the oilfield chemicals industry. API identified disposal costs ranging from USD 49 to USD 3333 per 55-gall drum, with an average price of USD 544 per drum. Other costs included radiological analysis, composition analysis and transportation.

Product Insights

Rheology modifiers emerged the most popular product segment, accounting for more than 20% of total revenue in 2016. The product is used to create synthetic muds that are high viscosity and can be used for drilling horizontal wells at high angles. These agents reduce splashing when brushing and increase the sag resistance of the coatings.

BIOCides has emerged as the fastest growing product segment. They are expected to grow at 5.4% CAGR over the forecast period. This segment is expected to expand over the forecast period due to its increased use in offshore operations. They protect water muds that contain natural gum. They are highly sought after for their ability to inhibit microbial attacks.

Due to regulatory norms, the manufacturers are opting for environmentally-friendly chemicals in oilfield applications. This will allow for easy disposal. This will reduce the risks of using synthetic materials in operation. These organic products have a greater power than their counterparts in terms of regulations, and can act as a replacement.

Application Insights

The largest and fastest-growing app, Workover and Completion, accounted for more than 35% of total revenue in 2016. This includes optimizing the productivity of the reservoir through hydraulic fracturing or matrix stimulation. This includes cementing and gravel packing & casing. Perforating is also included.

Global oilfield chemicals market value in workover and completion operations is expected to grow at 4.8% CAGR from 2017-2025. This is due to its ability to maximize oil & gas recovery cost-effectively, while minimizing the environmental impact. These products can also be used in many operations, including well drilling, intervention services, well completions, well completions, well drilling, well drilling, well completions, well finishing, well cleaning, well drilling, well fracking, EOR and well drilling.

The Middle East and Africa have shown great growth potential for the production chemicals segment. It is estimated that it will reach a value of more than USD 2.20 billion in 2025. These formulations are used in existing reservoirs to increase its productivity, even after the peak oil period. This is what has fueled the region's growth.

Global petroleum industry is witnessing a dramatic shift to high-performance drilling fluids and slick waterfracturing fluids. The sector will be affected by environmental concerns and the development eco-friendly compositions to address them. This will have a significant impact on the industry over the next eight year, which will encourage more demand for ecofriendly formulations.

Location Insights

Global oilfield chemicals demand at the onshore location is largest, and it was valued at over USD 3.0 Billion in 2016. Since conventional operations are conducted here, almost all types of chemicals can be found in this area. This ensures that there is a constant demand for the products.

Offshore locations are expected to experience the highest growth rate and will grow at a CAGR exceeding 5% during the forecast period. These locations are extremely harsh and difficult to operate in. It requires very specific chemicals such as biocides and corrosion inhibitors to ensure that operations are performed efficiently and at a low price.

Regional Insights

North America was the dominant market for global oil field chemicals in 2016, accounting for more than 30% of total market value. Due to its growing applications in the workover and completion sector and the production sector, the industry is well-established and mature in the region. The demand for the sector also depends on the number of active wells within different basins.

The majority of investments are directed at expanding into emerging markets like Central and South America, Eastern Europe, and Southeast Asia. Multinational companies plan to expand their presence in highly lucrative regions, taking advantage of factors like low labor costs and environmental norms.

Asia Pacific will be the fastest-growing region sector in the next eight years. By 2025, the market in this region will be worth approximately USD 5 billion. This market's growth is primarily due to increasing exploration activities in the region, especially in South China Sea, India, China, and other Southeast Asian countries.

Oilfield Chemicals Market Share insights

They are the key players in the industry, manufacturing and selling their products through direct supply or through distributors and third-party vendors. For greater penetration of local markets, new strategies include mergers, acquisitions and joint ventures.

Companies integrate across the value chain by supplying raw material, manufacturing and distributing end products. This allows them to lower their costs when purchasing raw materials from small-scale businesses. Companies can achieve higher profits and economies of scale by integrating across the value chains. This allows them to sustain the industry's products.

Industry players compete on the basis of price, quality and technology. The majority of industry players have a global presence. To grab the local market, international players often tie-up with local companies. Due to the large number of players involved in the oil field chemicals sector, there has been intense competition and fragmentation.

The global market is dominated by key players such as BASF SE, Lubrizol Corporation and Dow Chemical Co., Stepan Company. Halliburton, Schlumberger and Baker Huges are just a few.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country levels. It also provides analysis on industry trends in each sub-segment from 2014 through 2025. Grand View Research has divided the global oilfield chemicals market by product, region, and application.

• Product Outlook (Revenue USD Million, 2014-2025)

  • Inhibitors

  • Demulsifiers

  • Modifiers for rheology

  • Friction reducers

  • Biocides

  • Surfactants

  • Foamers

  • Other

• App Outlook (Revenue USD Million, 2014-2025)

  • Drilling fluid

  • Production chemicals

  • Cementing

  • Workover & completion

• Location Outlook (Revenue USD Million, 2014-2025)

  • Offshore

  • Offshore

• Regional Outlook (Revenue USD Billion, 2014-2025)

  • North America

    • The U.S

    • Canada

    • Mexico

  • Europe

    • The U.K.

    • Russia

    • Norway

  • Asia Pacific

    • China

    • India

    • Indonesia

  • Middle East & Africa

    • Saudi Arabia

    • UAE

    • Algeria

    • Nigeria

  • Central & South America

    • Brazil

    • Argentina

    • Venezuela

Up Market Research published a new report titled “Oilfield Chemicals Market research report which is segmented by Product (Surfactants, Friction Reducers, Inhibitors, Demulsifiers, Biocides, Foamers, Rheology Modifiers), By Players/Companies Stepan Company, Halliburton, Dow Chemical Co, BASF SE, Schlumberger, Baker Huges, Lubrizol Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Oilfield Chemicals Market Report Segments:

The market is segmented by Product (Surfactants, Friction Reducers, Inhibitors, Demulsifiers, Biocides, Foamers, Rheology Modifiers).

Oilfield Chemicals Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Oilfield Chemicals Market

Overview of the regional outlook of the Oilfield Chemicals Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Oilfield Chemicals Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Oilfield Chemicals Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Surfactants

                2. Friction Reducers

                3. Inhibitors

                4. Demulsifiers

                5. Biocides

                6. Foamers

                7. Rheology Modifiers

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Oilfield Chemicals Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Oilfield Chemicals Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.