An Incisive, In-depth Analysis on the Oilfield Production Chemicals Market
This study offers a comprehensive, 360 degree analysis on the Oilfield Production Chemicals market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Oilfield Production Chemicals market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Market Introduction
Oilfield production chemicals are the chemicals intended for specific functions in the production of crude oil. Depending on the function, oilfield production chemicals are used at various stages in oilfield production processes. Depending on the type, oilfield production chemicals have been categorized as demulsifiers, corrosion inhibitors, paraffin inhibitors, biocides, H2S scavengers, hydrate inhibitors, oxygen scavengers, water clarifiers and defoamers, among others.
The global oilfield production chemicals market is estimated to be valued at US$ 2.4 Bn by 2018 end and reach US$ 3.8 Bn by the end of 2028, expanding at a CAGR of 4.0% over the forecast period. The global oilfield production chemicals market is anticipated to represent an incremental opportunity of US$ 1.2 Bn between 2018 and 2028.
The Oilfield Production Chemicals Market is Expected to Gain Traction During the Forecast Period
Oilfield production chemicals are exclusively used in production processes in oilfields. Thus, they register high demand in the regions that dominate crude oil production. Therefore, an increase in the production of crude oil will directly contribute to the growth of the oilfield production chemicals market.
Crude oil production has reported steady growth in recent years. According to the BP statistical review, crude oil production grew by 1% from 2006 to 2016. Steady growth in production is expected to drive the demand for oilfield production chemicals in the coming years. The discovery of new reserves is also a key factor affecting the sales growth of oilfield production chemicals. The discovery of reserves in Bahrain, Arabia Sea and West Texas are among the latest examples of ongoing exploration activities. Such growth in the exploration activities is expected to generate high demand for oilfield production chemicals in the coming years.
Middle East & Africa Dominates the Global Oilfield Production Chemicals Market and Latin America is Tipped to be a High Potential Market by the End of the Forecast Period
From a regional perspective, the global oilfield production chemicals market is dominated by the Middle East & Africa region, owing to the high production of crude oil and consumption of oilfield production chemicals in GCC countries. The Middle East & Africa region is expected to witness healthy growth over the forecast period, which can mainly be attributed to the increase in crude oil production and exploration activities in GCC countries. The demulsifiers segment is expected to have a high impact on the oilfield production chemicals market in Middle East & Africa. The growth of the oilfield production chemicals market in Middle East & Africa can be attributed to the abundant oil reserves present in the region. Most of the oilfield production chemicals are manufactured in North America, Europe and the Middle East and Asia and thus, the prices of oilfield production chemicals are relatively low in China, North America, South-East Asia & Pacific, as compared to other regions.
Moreover, Latin America is reported to register a higher growth rate over the forecast period. The high growth rate of Latin America depends on the growing production of oil and gas in countries such as Brazil and Venezuela. The oilfield production chemicals demand in Latin America is primarily met by manufacturers from North America.
Prominent Manufacturers Hold a Key Share in the Global Oilfield Production Chemicals Market
The global oilfield production chemicals market is dominated by global manufacturers. Prominent manufacturers in the oilfield production chemicals market have been reported to hold more than half of the global oilfield production chemicals market. The regional markets are primarily dominated by the domestic manufacturers engaged in the sales of oilfield production chemicals in nearby regions. Domestic manufacturers are either acquired or collaborate with global players in the global oilfield production chemicals market and are listed under the Tier 2 category. Prominent manufacturers hold the lion’s share in the oilfield production chemicals market and are listed under the Tier 1 category of the global oilfield production chemicals market. The remaining manufacturers who have lower sales activities and have sales limited to the local markets are listed under the Tier 3 category of the global oilfield production chemicals market.
Key Trends
The demand for oilfield production chemicals in different regions is totally dependent on the macro-economic factors affecting the oilfield production chemicals market in the particular region. In order to cater the effect of macro-economic factors and the competition from domestic manufacturers, bigger players in the market are focused on acquisitions or collaborations with domestic players in order to strengthen their sales networks in regional markets.
The oilfield production chemicals market is saturated with many global players and is concentrated in crude oil producing regions such as North America, Eastern Europe and the Middle East. Manufacturers are now shifting their attention towards developing and high-potential regions such as Latin America.
Key Players
Some of the players reported in this study of the global oilfield production chemicals market include Baker Hughes, Ecolab Inc., Schlumberger Limited, Halliburton Company, BASF SE, Solvay SA, Akzo Nobel N.V., Clariant AG, Arkema SA, Huntsman Corporation and DowDuPont Inc., among others. Moreover, manufacturers of oilfield production chemicals have been channelizing efforts towards strengthening their production footprint and focusing on specific regions for the same to cater to regional markets. This is expected to positively impact the oilfield production chemicals market in the near future.
Future Market Insights analyzes the global oilfield production chemicals market in its new publication titled “Oilfield Production Chemicals Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028”. This study provides a thorough analysis and key insights on the oilfield production chemicals market on the basis of type, application and region for the historical period 2013 – 2017 and forecast period 2018 – 2028. The objective of the report is to assess the dynamics in the oilfield production chemicals market and provide key information pertaining to the several segments of the global oilfield production chemicals market. To provide a better understanding and support stakeholders for decision making and oilfield production chemicals market analysis, the report is incorporated with the analysis of drivers, restraints and trends that influence the current oilfield production chemicals market scenario and are expected to impact the global oilfield production chemicals market over the forecast period. The study provides data for 2017 along with an inclusive market forecast for the period 2018 – 2028.
Oilfield Production Chemicals Market Segmentation
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Oilfield Production Chemicals Report Description
To comprehend and ascertain oilfield production chemicals market opportunities and trends, the global oilfield production chemicals market report has been categorically split into different sections based on type, application and region. The report starts with oilfield production chemicals market overview and provides a market definition and taxonomy along with value chain, drivers and pricing analysis pertaining to the oilfield production chemicals market. Following this, the oilfield production chemicals market background has been covered, which includes the factors affecting the oilfield production chemicals market such as the macro-economic factors, which include the region-wise growth rates of various GDP and various industries. The market background also covers the market dynamics that affect the oilfield production chemicals market. The dynamics covered in the oilfield production chemicals market report are drivers (growth of crude oil production and exploration of new oil reserves), restraints (fluctuations in crude oil prices and increasing inclination towards renewable energy sources), and trends (acquisition of other market players). The oilfield production chemicals market background also includes the value chain analysis wherein the flow of the oilfield production chemicals from manufacturers to end users through various distributors and suppliers involved is listed. The final part in the oilfield production chemicals market background includes forecast factors, which include the factors (oil & gas industry performance, offshore exploration and production industries performance, seaborne trade performance, ship-building industry performance, global energy consumption, refined petroleum and other liquids consumption, gdp growth and industrialization growth) that are expected to have an impact on the global oilfield production chemicals market.
The sections that follow include the global oilfield production chemicals market analysis by type, application and region/country. All the above sections evaluate the oilfield production chemicals market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the global oilfield production chemicals market. To give a brief idea about revenue opportunities from end-use, delivery form and region/country-wise segments, the report also provides oilfield production chemicals market value (US$ Mn) data, growth rates, market shares and total incremental $ opportunity indices for each segment over the forecast period (2018–2028).
In the final section of the report, we have provided a detailed competition landscape with company market share and performance in order to provide report audiences with a dashboard view of key players operating in the global oilfield production chemicals market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
Oilfield Production Chemicals Market Research Methodology
For market data analysis, we have considered 2017 as the base year with oilfield production chemicals market numbers estimated for 2018 and a forecast made for 2018–2028. To ascertain the market, the global demand for oilfield production chemicals is assessed and funneled down to different type’s w.r.t. region/country. The FMI assessment is based on a multipronged approach that comprises secondary and primary research, and triangulation of data obtained therefrom. During the initial phase of research work, product mapping was done, in which the type of product offered by major players with respect to the application area were identified. Further, in secondary research, data available in public domain such as industry association, company annual reports, white papers, publications, journals and government sites, among others sources will be collected and accordingly, set of data points will be built. For the same, a top-down approach has been used to assess oilfield production chemicals market numbers for each type and bottom-up approach has been used to counter-validate the market estimation. For forecast assessment, growth of oil production and other related factors affecting oilfield production chemical consumption, in particular, along with insights provided by industry participants are weighed in so as to develop a pertinent forecast for individual type. The forecast presented in the report evaluates the actual market size (US$ Mn) in 2017 with regard to oilfield production chemicals and the expected market value in the global oilfield production chemicals market over the forecast period.
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