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Oilfield Production Chemicals Market

Oilfield Production Chemicals Market Analysis and Review by Type (Demulsifiers, Corrosion Inhibitors, Paraffin Inhibitors, Biocides, Hydrate Inhibitors, H2S Scavengers, Scale Inhibitors & Others), by Application (Production Methods, Storage & Transportation and Safe Disposal) and Region – Forecast 2022 – 2028

Oilfield Production Chemicals Market Analysis and Review by Type (Demulsifiers, Corrosion Inhibitors, Paraffin Inhibitors, Biocides, Hydrate Inhibitors, H2S Scavengers, Scale Inhibitors & Others), by Application (Production Methods, Storage & Transportation and Safe Disposal) and Region – Forecast 2022 – 2028

Oilfield Production Chemicals Market - Analysis, Outlook, Growth, Trends, Forecasts

Oilfield Production Chemicals Market Snapshot

[298 Pages Report] Future Market Insights (FMI) has forecasted the Oilfield Production Chemicals market to grow with a year on year growth of 4.0% in 2022 reaching a value of about US$ 3,021.8 Mn by 2022 end. The global business is anticipated to witness a considerable CAGR of 4.0% during the period of 2022 and 2028.

Base Year Value (2021A)

US$ 2,904.7 Mn

Estimated Year Value (2022E)

US$ 3,021.8 Mn

Projected Year Value (2028F)

US$ 3,824.9 Mn

CAGR in Terms of Value (2022-2028)

4.0%

Collective Value Share: Top 3 Countries (2022E)

49.6%

Increased consumption of Oilfield Production Chemicals in storage & transportation of crude oils, its production processes, growing drilling activities, and pursuing production from ageing fields is expected to push the sales in forecast period. Considering this, FMI has projected the global Oilfield Production Chemicals sales to reach a valuation of US$ 3,824.9 Mn by 2028.

(2013-2021) Oilfield Production Chemicals Market Outlook Comparison to Market Forecast (2022-2028)

Sales of Oilfield Production Chemicals increased at a 3.6% CAGR, between 2013 and 2021. Sales prospects in 2020 and 2021 were dampened due to the outbreak of the covid-19 pandemic, which reduced the demand for Oilfield Production Chemicals, but in coming years the growth is expected to bounce back to its original pace.

Rising demand for petroleum-based fuel from the transportation industry and production opportunities provided by developing countries are expected to boost the demand for oilfield production chemicals in the forecast period.

Oilfield production chemicals are extensively used in the production processes of crude oil, enhanced oil recovery, hydraulic fracturing & other production methods owing to these, the market is anticipated to witness a positive growth outlook in the forecast period.

The market is expected to grow in forecast owing to the increased consumption of the product from end-use industries. Demulsifier type of oilfield production chemical is the widely used chemical in the production process to separate the oil emulsion & water to obtain high quality of crude oil.

Owing to the above-mentioned factors market is expected to see a positive outlook.

How Will Rising Demand From The Production Method Segment Impact Sales Of Oilfield Production Chemicals?

Various chemical components are required for the extraction, processing, and transportation of crude oil. Most of the chemicals used in petroleum exploration are complex compositions of various chemicals. Chemicals are designed according to the type of work and duration of the site.

Oilfield production chemicals are used in various stages such as drilling, cementing, and excitation of wells and can remain as residues in crude oil.

These oilfield production chemicals play a vital role in the production process such as removal of residues, separation of water & oil, mitigation of growth of the micro-organisms, and so on.

As the demand for the crude oil increases, it directly impacts the oilfield production chemical market. These factors are expected to boost the demand in the assessed time period to reach about US$ 2,946.3 Mn by the year 2028.

What Was The Impact of COVID-19 Crisis On Oilfield Production Chemicals Market?

Covid-19 pademic has affected almost all the industries especially oil & gas industry due to disruption in logistics and supply chain owing to the covid norms & regulations. The oil and gas sector has been hit hard by the Covid-19 outbreak as supplier and supply chain disruptions have led to shutdowns affecting many end-use industries.

A serious production stoppage occurred at the production site. Also, commodity prices and supplies fluctuated due to border closures and export bans. This resulted in the downfall of the overall industry and impacted the growth of the market.

However, for the forecast period, the market is expected to grow owing to demand from end-use industries coming back on track, which is anticipated to impact the market positively.

Country-wise Insights

Why Is The Demand For Oilfield Production Chemicals High In The U.S.?

As per FMI, the U.S. is projected to account for a major share in the global Oilfield Production Chemicals market. The presence of well-established production plants for chemicals & oils, key manufacturing companies along with higher investment in R & D activities are expected to drive the overall North American market, especially in the U.S.

Increasing consumption of crude oil in end-use industries is expected to drive the market growth in the forecast period. Biocides type of oilfield production chemicals accounts for the major share in types of chemicals owing to its applications in production processes to mitigate the growth of the microbes. U.S. is expected to reach about US$ 440.7 Mn by the year 2028.

What Is The Expected Growth Rate Of The Oilfield Production Chemicals Market In GCC Countries?

The market is expected to gain traction at 4.1% CAGR between 2022 and 2028. Certain domestic market participants are expanding their production capacities in Middle East & Africa for enhancing their production.  

Saudi Arabia has one of the highest proven reserves for oil & natural gas. The production method segment consumes major volume of oilfield production chemicals in these countries followed by storage & transportation of crude oil. The Middle East & Africa region is expected to witness healthy growth in the forecast period due to the large production capacities and R&D activities in GCC countries.

The demulsifier segment is expected to have a strong impact on the oilfield chemicals market in the Middle East and Africa. The growth of the chemical market for oil production in the Middle East and Africa can be attributed to the region's abundant oil reserves.

Why is Russia is Considered a Prominent Market for Oilfield Production Chemicals?

Russia is projected to account for 80.2% of the European oilfield production chemicals market share and reach an estimated value of US$ 485.8 Mn by the end of 2028. In the European market, Russia is anticipated to sustain its leading position as the country is amongst the top three oil-producing nations across the globe. Also, corrosion inhibitors and demulsifiers constitute a significant portion of the chemicals manufactured in the country in order to aid crude drilling and production. Rising demand from these end use industries is anticipated to propel the growth of the market in the forecast period.

Category-wise Insights

How Is Growth Of The Demulsifiers Type Of Oilfield Production Chemicals Segment Expected To Impact The Market?

The demulsifier segment is expected to grow at a prominent value of 4.4% CAGR, over the forecast period.

Demulsifiers are widely used in onshore & offshore oil production activities. Increasing demand from onshore & offshore oil production activities is expected to drive the demand in the forecast period. The demulsifier segment accounted for a 48.4 % value share in the global market in 2018 and it is estimated to reach 50.2%  share by 2028 end.

The separation of oil emulsion & water is a major problem in oil production, especially at offshore site. To tackle this problem, demulsifiers play a major role in separation of oil emulsion & water. The demulsifier is also heavily used in onshore oilfield production activities owing to the increased exploration of new oil reservoirs.

What are the Sales Prospects of Corrosion Inhibitors Oilfield Production Chemicals?

The corrosion inhibitor segment is projected to create an absolute dollar opportunity of more than US$ 177.9 Mn during the period of 2022 to 2028. The demand for corrosion inhibitors is increasing as the demand for crude oil is booming. Corrosion inhibitors play a vital role in order to increase the life span of the equipment used in oil production.

To protect the equipment from corrosion, corrosion inhibitors are used in oil production activities.  Calcium & magnesium salts are produced during the production which causes trouble during the transportation & affects the quality of the final products. Hence, demand is expected to surge as the production & transportation activities increases.

Competitive Landscape

Over the past few years, a shift of manufacturers focus towards emerging regions has been witnessed to meet the increasing demand of Oilfield Production Chemicals. Several key players are also focusing on expanding their production capacities to meet the demand arising from exploration of new oil reserves. Market players are  also increasing the mergers & acquisition  activities.

For Instance,

  • In June 2018, the Baker Hughes company relaunched its oil and gas technology center based in Oklahoma City, North America in order to enhance its innovation, commercialization and productivity.

The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.

Scope of Report

Attribute

Details

Forecast Period

2022-2028

Historical Data Available for

2013-2021

Market Analysis

USD Million for Value and Tons for Volume

Key Regions Covered

North America, Latin America, Western Europe, Eastern Europe,  India, China, Japan, Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, Poland, BENELUX, China, Japan, India, ASEAN, Oceania, Brazil, Mexico

Key Segments Covered

Type, Application and Region

Key Companies Profiled

  • 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.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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Oilfield Production Chemicals Market By Category

By Type:

  • Demulsifiers
  • Corrosion Inhibitors
  • Paraffin Inhibitors
  • Biocides
  • Hydrate Inhibitors
  • H2S Scavengers
  • Scale Inhibitors
  • Others

By Application:

  • Production Methods
  • Storage & Transportation
  • Safe Disposal ges

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • China
  • India
  • Japan
  • Middle East & Africa

Key Questions Answered in the Report

What is the current size of global Oilfield Production Chemicals market?

The Oilfield Production Chemicals market is expected to total US$ 3,021.8 Mn in 2022.
The Oilfield Production Chemicals market has been estimated to exhibit growth rate of 4.0% between 2022 and 2028 on value basis.
Production Method segment is expected to contribute major growth share to the overall market in 2022.
Arkema SA, Akzo Nobel, Solvay SA, Clariant AG, ECOLAB Inc, BASF SE, Huntsman Corporation, Hexion Inc, Ashland Global Holdings Inc. are the leading market players.
The demand in U.S. is expected to increase by 3.6% CAGR between 2022 and 2028 on value basis.

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