Global Specialty Oilfield Chemicals Market Size, Trends & Analysis - Forecasts To 2026 By Type (Inhibitors & Scavengers, Rheology Modifiers, Pour Point Depressants, Demulsifiers, Friction Reducers, Specialty Biocides, Specialty Surfactants, Others), By Application (Well Stimulation, Enhanced Oil Recovery, Workover & Completion, Drilling Fluids, Production, Cementing, Others), By Region (North America, Europe, Asia Pacific, MEA, CSA), Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Specialty Oilfield Chemicals Market: Insights
The global specialty oilfield chemicals market is estimated to witness a significant CAGR during the forecast period (2020-2026). An increase in the number of exploration activities is one of the significant factors expected to propel the market growth. Moreover, as a part of the oilfield activities, increasing demand for specialized oilfield chemicals is primarily used to facilitate well execution and long-term recovery from stores. The increasing application in drilling fluid activities, production chemicals and work over & completion drives the growth of the market. Also, increase in demand for oilfield chemicals due to the growing middle-class population in the region and rising industrialization in the field of food, agriculture, cosmetics, and many other manufacturing sectors also boosts the growth of the market. However, stringent environmental rules and regulations by the government are hampering the market growth.
Specialty Oilfield Chemicals Market Size: By Type
Based on type, the market is segmented into inhibitors & scavengers, rheology modifiers, pour point depressants, demulsifiers, friction reducers, specialty biocides, and specialty surfactants, others. The demulsifiers segment is expected to account for the largest market share during the forecast period. The increasing application in crude oil and petrol refinery activities drives the robust growth of the market. Moreover, rise in extensive usage of demulsifiers to separate oil from water, thus increasing the export value of crude oil produced also increases the growth of the market.
Specialty Oilfield Chemicals Market Size: By Application
Based on application, the market is segmented into drilling fluids, well stimulations, production chemicals, cementing, workover & completion, and enhanced oil recovery. The drilling fluids segment is estimated to hold the largest market share during the forecast period due to increasing deep and ultra-deep drilling activities.
Specialty Oilfield Chemicals Market: By Region
Based on region, the global specialty oilfield chemicals market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America is expected to hold a significant market share during the forecast period in terms of volume and value due to the growing presence of huge onshore and offshore reserves. Moreover, rise in contribution towards significant production volumes, increase in the number of exploration activities, and expansion of shale oil and gas industries in the region also drives the market growth. Furthermore, the Middle East is projected to hold the largest market share during the forecast period due to the increasing demand from applications including petro refineries, oil-based power plants, and sludge oil treatments. Also, Asia Pacific is expected to grow at a high CAGR during the forecast period. Growing industrialization, low labor cost, and high economic development to meet energy demands, drive the market growth.
Specialty Oilfield Chemicals Market Share & Competitor Analysis
Some of the key players operating in the specialty oilfield chemicals market include: Solvay, Ecolab Inc., Halliburton, BASF SE, Clariant, The Dow Chemical Company, Huntsman, Croda, Albermarle, Chevron Philips Chemical Company, Innospec Inc., Schlumberger Limited, PureChem Energy Services, Stepan Company, Nouryon, Baker Hughes Incorporated, Kemira, Kraton, Thermax, Oleon, Ashland, National Oilwell Varco, Geo Specialty Chemicals, and Elementis, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
Check the Press Release on Global Specialty Oilfield Chemicals Market Report
Specialty Oilfield Chemicals Market: By Type
Specialty Oilfield Chemicals Market: By Application
Specialty Oilfield Chemicals Market: By Region
The global Specialty Oilfield Chemicals Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Specialty Oilfield Chemicals Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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