Oilfield Chemicals

Oilfield Chemicals

Oilfield Chemicals Market Forecasts to 2030 - Global Analysis By Chemical Type (Inhibitors, Demulsifiers, Rheology Modifiers, Friction Reducers, Scavengers, Biocides, Polymers, Surfactants, Foamers and Other Chemical Types), Location, Application and By Geography

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Published: 2024 ID: SMRC26369

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Oilfield Chemicals Market is accounted for $21.02 billion in 2024 and is expected to reach $35.64 billion by 2030 growing at a CAGR of 9.2% during the forecast period. Specialized substances called oilfield chemicals are employed in the discovery, extraction, and production of oil and gas. These substances are essential for improving the effectiveness and security of oilfield operations. They perform a number of tasks, such as controlling formation pressures, reducing the negative effects of drilling operations on the environment, preventing equipment corrosion, and enhancing the performance of drilling fluids. Drilling muds, corrosion inhibitors, demulsifiers, biocides, and scale inhibitors are examples of common chemicals used in the oilfield. 

According to the International Association of Drilling Contractors (IADC), the proper use of oilfield chemicals is essential for maintaining operational efficiency and environmental safety in drilling operations.

Market Dynamics: 


Expanding oil recovery (eor) methods

Companies are utilizing extended-horizon oil recovery (EOR) techniques, which heavily depend on specialized chemicals, to optimize production from aging oilfields. These substances, which include polymers, alkaline agents, and surfactants, aid in increasing the oil's displacement efficiency from reservoirs. Additionally, the need to increase production and prolong the life of mature fields is driving the growing adoption of chemical EOR methods, which in turn is driving up the demand for oilfield chemicals.


Variable prices for oil

The state of the oil and gas sector as a whole, which is extremely vulnerable to changes in oil prices, is directly related to the market for oilfield chemicals. There is typically less demand for oilfield chemicals when there is a significant decline in oil prices, which also tends to lower exploration and production activities. On the other hand, while high oil prices can encourage investment, they can also raise the price of purchasing chemicals. Furthermore, the instability of the market affects market stability by making it difficult for businesses to plan ahead and sustain a steady demand for oilfield chemicals.


Development of eco-friendly substances

The development and marketing of environmentally friendly oilfield chemicals presents a substantial opportunity for businesses as environmental regulations and public awareness of sustainability continue to rise. It is possible for businesses to lessen their environmental impact and comply with regulations by using non-toxic and biodegradable substitutes for conventional chemicals. Moreover, emerging trends in green chemistry, like the use of bio-based surfactants and natural polymers, are gaining popularity and have the potential to expand the market for ecologically friendly products.


Disruptions to the supply chain

The oilfield chemicals market is susceptible to supply chain disruptions brought on by a number of events, such as transportation difficulties, natural disasters, and geopolitical unrest. Supply chain disruptions can cause delays in the manufacture and delivery of chemicals, which can have an impact on operations related to oil and gas. Additionally, supply chain risks can also be increased by reliance on particular raw materials, some of which may come from politically unstable areas. In order to maintain a consistent supply of chemicals, which can be expensive and complicated, businesses must manage these uncertainties.

Covid-19 Impact: 

Due to widespread lockdowns and economic slowdowns, the COVID-19 pandemic caused a sharp decline in oil prices and a reduction in global energy demand, which had a significant impact on the oilfield chemicals market. The reduction or postponement of exploration and production operations resulted in a decline in the market demand for oilfield chemicals. Production and distribution of chemicals were negatively impacted, and the situation was made worse by logistical difficulties and supply chain disruptions. Furthermore, to preserve operational effectiveness while abiding by health and safety regulations, the market also witnessed a shift towards digitalization and remote monitoring technologies, which may have a long-term impact on industry practices.

The Onshore segment is expected to be the largest during the forecast period

The market for oilfield chemicals is dominated by the onshore segment. The reason for this dominance is that there are a lot more onshore activities related to oil and gas production and exploration than there are offshore operations. Higher overall activity levels are usually the result of onshore drilling's lower cost and easier logistical setup than offshore drilling. Furthermore, onshore operations gain from having simpler access to resources and infrastructure, which increases the usage of oilfield chemicals. Additionally, the increasing number and frequency of onshore projects create a significant demand for different chemicals used in the drilling, cementing, stimulation, and production processes, thereby maintaining the market leadership of the onshore segment.

The Enhanced Oil Recovery segment is expected to have the highest CAGR during the forecast period

In the oilfield chemicals market, the Enhanced Oil Recovery (EOR) segment is anticipated to grow at the highest CAGR. EOR techniques are being used more often to optimize oil extraction from mature and declining fields, thereby tackling the global issue of conventional oil reserves being depleted. The techniques employed in these methods depend on specific chemicals, namely alkalis, polymers, and surfactants, to enhance the process of releasing trapped oil from reservoirs. Furthermore, this market is growing because of the growing need for energy and technological developments in EOR procedures.

Region with largest share:

With the largest share, the Middle East and Africa region is clearly the dominant player in the global oilfield chemicals market. This prominence is mostly due to the region's large reserves of gas and oil as well as a thriving upstream gas and oil industry. The Middle East has a significant demand for oilfield chemicals, such as production chemicals, well stimulation chemicals, and drilling fluids, due to its strategic position as a major oil-producing region. Moreover, the region's emphasis on improving oil recovery methods and increasing production efficiency also increases the demand for sophisticated chemical solutions, strengthening its position in the market.

Region with highest CAGR:

The oilfield chemicals market's highest CAGR is seen in the Latin America region. Numerous factors, including an increase in exploration and production activities in nations like Brazil, Mexico, and Argentina, are driving this growth trajectory. Drilling fluids, corrosion inhibitors, and demulsifiers are among the specialty chemicals in demand in the oilfield as these countries step up their efforts to extract their hydrocarbon resources. Furthermore, the region's appeal to oil and gas operators is further enhanced by regulatory reforms and conducive investment climates, which propel the oilfield chemicals market's continued expansion.

Key players in the market

Some of the key players in Oilfield Chemicals market include Baker Hughes, Clariant, Dow, BASF SE, Elementis PLC, Albemarle Corporation, Halliburton, Croda International PLC, The Lubrizol Corporation, Solvay S.A., Huntsman International LLC, CES Energy Solutions Corp., Kemira, Aquapharm Chemical Pvt. Ltd., Flotek Industries Inc., Schlumberger Limited and Nouryon. 

Key Developments:

In May 2024, Midland, Michigan-based Dow has announced two partnerships designed to advance its circularity goals. In the U.S., the company has agreed to consume an estimated 65,000 metric tons of pyrolysis oil from the recycling facility Freepoint Eco-Systems Supply & Trading LLC, Stamford, Connecticut, is building in Eloy, Arizona, on 40 acres of previously undeveloped land.

In March 2024, Clariant, a sustainability-focused specialty chemical company, and its process partner Lummus Technology have been selected by Huizhou Boeko Materials Co. Ltd., to provide their CATOFIN catalyst and process technology for the dehydrogenation of isobutane at the new plant in Huizhou City, China. The process technology is exclusively licensed by Lummus Technology, while the tailor-made catalyst is supplied by Clariant.
In December 2023, Baker Hughes has entered into a 20-year framework agreement with Chevron Australia for the supply of subsea production systems. Baker Hughes will offer its Aptara subsea production systems for Chevron Australia’s future offshore developments.

Chemical Types Covered:
• Inhibitors
• Demulsifiers
• Rheology Modifiers
• Friction Reducers
• Scavengers
• Biocides
• Polymers
• Surfactants
• Foamers
• Other Chemical Types 
Locations Covered:
• Onshore
• Offshore 

Applications Covered:
• Drilling and Cementing
• Enhanced Oil Recovery
• Production
• Well Stimulation
• Workover and Completion
• Other Applications 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary      
2 Preface      
 2.1 Abstract     
 2.2 Stake Holders     
 2.3 Research Scope     
 2.4 Research Methodology     
  2.4.1 Data Mining    
  2.4.2 Data Analysis    
  2.4.3 Data Validation    
  2.4.4 Research Approach    
 2.5 Research Sources     
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions    
3 Market Trend Analysis      
 3.1 Introduction     
 3.2 Drivers     
 3.3 Restraints     
 3.4 Opportunities     
 3.5 Threats     
 3.6 Application Analysis     
 3.7 Emerging Markets     
 3.8 Impact of Covid-19     
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry     
5 Global Oilfield Chemicals Market, By Chemical Type      
 5.1 Introduction     
 5.2 Inhibitors     
  5.2.1 Corrosion Inhibitors    
  5.2.2 Paraffin Inhibitors    
  5.2.3 Asphaltene Inhibitors    
  5.2.4 Scale Inhibitors    
 5.3 Demulsifiers     
 5.4 Rheology Modifiers     
 5.5 Friction Reducers     
 5.6 Scavengers     
  5.6.1 H2S Scavengers    
  5.6.2 Oxygen Scavengers    
 5.7 Biocides     
 5.8 Polymers     
 5.9 Surfactants     
 5.10 Foamers     
 5.11 Other Chemical Types     
6 Global Oilfield Chemicals Market, By Location      
 6.1 Introduction     
 6.2 Onshore     
 6.3 Offshore     
7 Global Oilfield Chemicals Market, By Application      
 7.1 Introduction     
 7.2 Drilling and Cementing     
 7.3 Enhanced Oil Recovery     
 7.4 Production     
 7.5 Well Stimulation     
 7.6 Workover and Completion     
 7.7 Other Applications     
8 Global Oilfield Chemicals Market, By Geography      
 8.1 Introduction     
 8.2 North America     
  8.2.1 US    
  8.2.2 Canada    
  8.2.3 Mexico    
 8.3 Europe     
  8.3.1 Germany    
  8.3.2 UK    
  8.3.3 Italy    
  8.3.4 France    
  8.3.5 Spain    
  8.3.6 Rest of Europe    
 8.4 Asia Pacific     
  8.4.1 Japan    
  8.4.2 China    
  8.4.3 India    
  8.4.4 Australia    
  8.4.5 New Zealand    
  8.4.6 South Korea    
  8.4.7 Rest of Asia Pacific    
 8.5 South America     
  8.5.1 Argentina    
  8.5.2 Brazil    
  8.5.3 Chile    
  8.5.4 Rest of South America    
 8.6 Middle East & Africa     
  8.6.1 Saudi Arabia    
  8.6.2 UAE    
  8.6.3 Qatar    
  8.6.4 South Africa    
  8.6.5 Rest of Middle East & Africa    
9 Key Developments      
 9.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 9.2 Acquisitions & Mergers     
 9.3 New Product Launch     
 9.4 Expansions     
 9.5 Other Key Strategies     
10 Company Profiling      
 10.1 Baker Hughes     
 10.2 Clariant     
 10.3 Dow     
 10.4 BASF SE     
 10.5 Elementis PLC     
 10.6 Albemarle Corporation     
 10.7 Halliburton     
 10.8 Croda International PLC     
 10.9 The Lubrizol Corporation     
 10.10 Solvay S.A.     
 10.11 Huntsman International LLC     
 10.12 CES Energy Solutions Corp.     
 10.13 Kemira     
 10.14 Aquapharm Chemical Pvt. Ltd.     
 10.15 Flotek Industries Inc.     
 10.16 Schlumberger Limited     
 10.17 Nouryon     
List of Tables       
1 Global Oilfield Chemicals Market Outlook, By Region (2022-2030) ($MN)      
2 Global Oilfield Chemicals Market Outlook, By Chemical Type (2022-2030) ($MN)      
3 Global Oilfield Chemicals Market Outlook, By Inhibitors (2022-2030) ($MN)      
4 Global Oilfield Chemicals Market Outlook, By Corrosion Inhibitors (2022-2030) ($MN)      
5 Global Oilfield Chemicals Market Outlook, By Paraffin Inhibitors (2022-2030) ($MN)      
6 Global Oilfield Chemicals Market Outlook, By Asphaltene Inhibitors (2022-2030) ($MN)      
7 Global Oilfield Chemicals Market Outlook, By Scale Inhibitors (2022-2030) ($MN)      
8 Global Oilfield Chemicals Market Outlook, By Demulsifiers (2022-2030) ($MN)      
9 Global Oilfield Chemicals Market Outlook, By Rheology Modifiers (2022-2030) ($MN)      
10 Global Oilfield Chemicals Market Outlook, By Friction Reducers (2022-2030) ($MN)      
11 Global Oilfield Chemicals Market Outlook, By Scavengers (2022-2030) ($MN)      
12 Global Oilfield Chemicals Market Outlook, By H2S Scavengers (2022-2030) ($MN)      
13 Global Oilfield Chemicals Market Outlook, By Oxygen Scavengers (2022-2030) ($MN)      
14 Global Oilfield Chemicals Market Outlook, By Biocides (2022-2030) ($MN)      
15 Global Oilfield Chemicals Market Outlook, By Polymers (2022-2030) ($MN)      
16 Global Oilfield Chemicals Market Outlook, By Surfactants (2022-2030) ($MN)      
17 Global Oilfield Chemicals Market Outlook, By Foamers (2022-2030) ($MN)      
18 Global Oilfield Chemicals Market Outlook, By Other Chemical Types (2022-2030) ($MN)      
19 Global Oilfield Chemicals Market Outlook, By Location (2022-2030) ($MN)      
20 Global Oilfield Chemicals Market Outlook, By Onshore (2022-2030) ($MN)      
21 Global Oilfield Chemicals Market Outlook, By Offshore (2022-2030) ($MN)      
22 Global Oilfield Chemicals Market Outlook, By Application (2022-2030) ($MN)      
23 Global Oilfield Chemicals Market Outlook, By Drilling and Cementing (2022-2030) ($MN)      
24 Global Oilfield Chemicals Market Outlook, By Enhanced Oil Recovery (2022-2030) ($MN)      
25 Global Oilfield Chemicals Market Outlook, By Production (2022-2030) ($MN)      
26 Global Oilfield Chemicals Market Outlook, By Well Stimulation (2022-2030) ($MN)      
27 Global Oilfield Chemicals Market Outlook, By Workover and Completion (2022-2030) ($MN)      
28 Global Oilfield Chemicals Market Outlook, By Other Applications (2022-2030) ($MN)      
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.      

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

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