The oilfield chemicals market is projected to grow at a CAGR of 6.05% to reach US$34.774 billion by 2024, from US$24.440 billion in 2018. Oilfield chemicals are used in the drilling and exploration of gas and oil to improve these operations by improving the efficiency and productivity of the oil drilling processes. Burgeoning demand for oil across the globe is boosting the demand for oilfield chemicals so as to enhance the processes carried out in the oil and gas plant. The worldwide demand for oil increased from 93.52 mb/d in 2014 to 98.71 mb/d in 2018 (source: OECD/International Energy Agency). In order to address the rising needs, players are into acquisition so as to enhance their oilfield chemicals product portfolio. In July 2018, Halliburton acquired Athlon solutions so as to provide specialty oilfield chemicals for stimulation, midstream, and production customers.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the oilfield chemicals value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the oilfield chemicals market.
Major industry players profiled as part of the report are Huntsman International LLC, Stepan Company, BASF SE, Halliburton, Ashland, Gulf Coast Chemical, LLC, Chemex Inc., The Dow Chemical Company, and Solvay.
Segmentation
The oilfield chemicals market has been analyzed through the following segments:
By Type
Corrosion Inhibitor
Surfactant
Demulsifiers
Biocides
Paraffin Dispersants
Others
By Application
Production
Drilling
Refining
Stimulation
Others
By Geography
North America
USA
Canada
Mexico
Others
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
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