This report titled “Oilfield Chemicals Market - Growth, Future Prospects, and Competitive Analysis, 2023 – 2030” offers strategic insights into the trends in oilfield chemicals market along with the market size and forecast for the duration 2023 to 2030. The said research study incorporates in-depth analysis of multiple market segments based chemical type, application and geographical distribution.

The global oilfield market is expected to witness high growth with growing emphasis on increasing productivity from existing oilfields as the cost as the cost of exploring new oilfields is increasing with low international prices. Further, increasing exploration of shale gas has changes the market dynamics of oil industry. Key players in the oilfield services market accounting for the major share of the global oilfield market. Further, increasing research and development and advancement in technology changing the nature of operations of the oil industry. Further, increasing shale gas exploration activities in Europe and Asia Pacific is further anticipated to fuel the demand for oilfield chemical over the forecast period

Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, Europe, Latin America, Middle East & Africa and Asia Pacific.

Based on chemical type, the global oilfield chemicals market is segmented as Biocides, Corrosion & Scale Inhibitors, Demulsifiers, Polymers, Surfactants, and Other Chemicals. By application, the global oilfield chemicals market is segmented into Drilling & Cementing, Enhanced Oil Recovery, Production, Well Stimulation and Workover & Completion. In addition, oilfield chemicals manufacturing companies, distributors and academic organizations form the major client types for oilfield chemicals market. Market size (US$ Mn) and forecast for all the considered segmentation is presented in this report for the period 2021-2030 along with their respective CAGRs (%) for the forecast period 2023-2030.

Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the global oilfield chemicals market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with company profiles section. This section includes major information about the key companies engaged in development, and provision of oilfield chemicals.

Oilfield Chemicals Market Based on the chemical type:

On the basis of chemical type, the global oilfield chemicals market can be segmented into biocides, corrosion & scale inhibitors, demulsifiers, polymers, surfactants and other chemicals. In 2020, corrosion & scale inhibitors segment accounted for the largest revenue share in the global oilfield chemicals market. Increasing use of corrosion inhibitors in oilfields to prevent equipment from the impact of corrosion is expected to propel the growth of the segment during the forecast period. Biocides is projected to witness high growth owing to increasing use of water especially in the exploration of shale gas increasing the microbial contamination in water. Further, increasing regulatory requirement for the water treatment is anticipated to drive the demand for biocides over the forecast period (2023-2030).

Oilfield Chemicals Market Based on the application:

On the basis of application, the global oilfield chemicals market can be segmented into drilling & cementing, enhanced oil recovery, production, well stimulation and workover & completion. In 2020, well simulation applications was observed to be the largest application segment and is projected to maintain its dominance during the forecast period. Increasing use of the well simulation chemicals to improve the oil & gas production from the reservoir is anticipated to drive the growth of the segment during the forecast period. Enhance oil recovery segment is projected to be the fastest growing application among all applications. Growing number of matured reserves along with increasing exploration of heavy crude and shale gas reserves is projected to drive the growth of the segment over the forecast period (2023-2030).

On the basis of geography, global oilfield chemicals market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In 2020, North America accounted for the largest share in global oilfield chemicals market and also projected to witness robust growth during the forecast period. Growing production shale gas and tight oil in U.S. and Canada is expected to fuel the demand for oilfield chemicals in the region. Further, backdrop of crude oil prices shifting the focus of oil producing companies on improving oilfield efficiency and productivity from existing reserves. Besides this, growing emphasis on water treatment and recycling of water regulated by various government policies and directives promoting the use of oilfield chemicals in the region. Thus, the region is projected to witness high growth in the consumption of oilfield chemicals over the forecast period (2023-2030).

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Oilfield Chemicals market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Oilfield Chemicals market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Oilfield Chemicals market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Oilfield Chemicals market?
• Which is the largest regional market for Oilfield Chemicals market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Oilfield Chemicals market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Oilfield Chemicals market worldwide?