Oilfield Chemicals Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Oilfield Chemicals Market
The Oilfield Chemicals market size was valued at USD 19.25 billion in 2023, and the market is now expected to expand from USD 20.60 billion in 2024 to USD 36.06 billion by 2032, exhibiting a CAGR of 7.2% during the forecast period of 2024-2032.
The oilfield chemical market growth dropped sharply due to covid19 pandemic but has since picked up, although uncertainties surrounding different virus strains persist. This makes it difficult for oil companies to invest putting them at risk of excess capacity inactivity or having inadequate supplies when demand changes.
The market for oilfield chemicals is expected to gain traction because of the demand for oil rising globally due to the force of petrochemical sector. This upsurge will present us with chances of growth in production and exploration as there will be need for greater efficiency through usage of more Oilfield Chemicals Market share to meet the growing global requirement of refined products.
Challenges in the upstream sector demand that products used to explore for and produce energy be safe for humans, animals and environment. Rising environmental and safety concerns have impacted stringent requirements in energy exploration and recovery.
Comprehensive Oilfield Chemicals Market
The Oilfield Chemicals market is growing at an exponential rate due to its market segmentation. These segmentations are methodically segregated by Chemical Type Analysis, by Application Analysis. The Chemical Type Analysis include demulsifiers, corrosion inhibitors, water clarifiers, biocides, scale inhibitors, paraffin inhibitors, hydrogen sulfide scavengers, gas well foamers, and others. The Application Analysis includes drilling, cement, stimulation, and production.
The North America region lead the Oilfield Chemicals market by benefitting a market size of USD 10.70 billion in 2023 due to the increase in oil gas operations through the development of hydraulic fracturing and drilling processes.
The top players in the market play a crucial role in the Chemicals & Advanced Materials industry assuring industrial prospectus development and setting market standards. These players include, Solvay (Belgium), Halliburton (U.S.), BASF SE (Germany), NALCO (U.K.), Kemira (Finland), Albemarle Corporation (U.S.), Dow (U.S.), Clariant (Switzerland), Croda International Plc (U.K.), Stepan Company (U.S.), Pon Pure Chemicals Group (India) these market players provide a competitive landscape.
In May 2021, Schlumberger and NOV have come together to boost the use of automated drilling solutions among drilling contractors and oil & gas operators. This partnership aims at enhancing safety, allowing for the automating of manual workflows, and increasing efficiency during drilling operations.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 7.2% from 2024 to 2032
Unit Value (USD Billion), Volume (Million Tons)
Segmentation By Chemical Type
Demulsifiers
Corrosion Inhibitors
Water Clarifiers
Biocides
Scale Inhibitors
Paraffin Inhibitors
Hydrogen Sulfide Scavengers
Gas Well Foamers
Others
By Application
Drilling
Cement
Stimulation
Production
By Region
North America (By Chemical Type, By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
- Mexico (By Application)
Europe (By Chemical Type, By Application, By Country)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Chemical Type, By Application, By Country)
- China (By Application)
- Japan (By Application)
- India (By Application)
- South Korea (By Application)
- Rest of Asia Pacific (By Application)
Latin America (By Chemical Type, By Application, By Country)
- Brazil (By Application)
- Rest of Latin America (By Application)
Middle East & Africa (By Chemical Type, By Application, By Country)
- Saudi Arabia (By Application)
- South Africa (By Application)
Rest of the Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Market Trends
- 4.2. Key Developments
- 4.3. Insights on Regulatory Scenario
- 4.4. Latest Technological Advancements
- 4.5. Porters Five Forces Analysis
- 4.6. Qualitative Insights on Impact of COVID-19 on Market
- 5. Global Natural Refrigerants Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Type (Value/Volume)
- 5.2.1. Hydrocarbons
- 5.2.2. Ammonia
- 5.2.3. Carbon Dioxide
- 5.3. By End-Use Industry (Value/Volume)
- 5.3.1. Industrial
- 5.3.2. Commercial
- 5.3.3. Domestic
- 5.4. By Region (Value/Volume)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Natural Refrigerants Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Type (Value/Volume)
- 6.2.1. Hydrocarbons
- 6.2.2. Ammonia
- 6.2.3. Carbon Dioxide
- 6.3. By End-Use Industry (Value/Volume)
- 6.3.1. Industrial
- 6.3.2. Commercial
- 6.3.3. Domestic
- 6.4. By Country (Value/Volume)
- 6.4.1. U.S.
- 6.4.2. Canada
- 7. Europe Natural Refrigerants Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Type (Value/Volume)
- 7.2.1. Hydrocarbons
- 7.2.2. Ammonia
- 7.2.3. Carbon Dioxide
- 7.3. By End-Use Industry (Value/Volume)
- 7.3.1. Industrial
- 7.3.2. Commercial
- 7.3.3. Domestic
- 7.4. By Country (Value/Volume)
- 7.4.1. Germany
- 7.4.2. U.K.
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Rest of Europe
- 8. Asia-Pacific Natural Refrigerants Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Type (Value/Volume)
- 8.2.1. Hydrocarbons
- 8.2.2. Ammonia
- 8.2.3. Carbon Dioxide
- 8.3. By End-Use Industry (Value/Volume)
- 8.3.1. Industrial
- 8.3.2. Commercial
- 8.3.3. Domestic
- 8.4. By Country (Value/Volume)
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. ASEAN
- 8.4.5. Rest of Asia Pacific
- 9. Latin America Natural Refrigerants Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Type (Value/Volume)
- 9.2.1. Hydrocarbons
- 9.2.2. Ammonia
- 9.2.3. Carbon Dioxide
- 9.3. By End-Use Industry (Value/Volume)
- 9.3.1. Industrial
- 9.3.2. Commercial
- 9.3.3. Domestic
- 9.4. By Country (Value/Volume)
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
- 10. Middle East & Africa Natural Refrigerants Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Type (Value/Volume)
- 10.2.1. Hydrocarbons
- 10.2.2. Ammonia
- 10.2.3. Carbon Dioxide
- 10.3. By End-Use Industry (Value/Volume)
- 10.3.1. Industrial
- 10.3.2. Commercial
- 10.3.3. Domestic
- 10.4. By Country (Value/Volume)
- 10.4.1. Saudi Arabia
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
- 11. Company Profiles
- 11.1. Air Liquide
- 11.1.1. Overview
- 11.1.2. Description
- 11.1.3. Product Portfolio
- 11.1.4. Financials (As per Availability)
- 11.1.5. Recent Developments
- 11.2. Linde plc
- 11.2.1. Overview
- 11.2.2. Description
- 11.2.3. Product Portfolio
- 11.2.4. Financials (As per Availability)
- 11.2.5. Recent Developments
- 11.3. A-Gas International Ltd.
- 11.3.1. Overview
- 11.3.2. Description
- 11.3.3. Product Portfolio
- 11.3.4. Financials (As per Availability)
- 11.3.5. Recent Developments
- 11.4. HyChill Australia Pty Ltd
- 11.4.1. Overview
- 11.4.2. Description
- 11.4.3. Product Portfolio
- 11.4.4. Financials (As per Availability)
- 11.4.5. Recent Developments
- 11.5. engas Australasia
- 11.5.1. Overview
- 11.5.2. Description
- 11.5.3. Product Portfolio
- 11.5.4. Financials (As per Availability)
- 11.5.5. Recent Developments
- 11.6. Tazzetti S.p.A.
- 11.6.1. Overview
- 11.6.2. Description
- 11.6.3. Product Portfolio
- 11.6.4. Financials (As per Availability)
- 11.6.5. Recent Developments
- 11.7. Shandong Yuean Chemical Industry Co., Ltd.
- 11.7.1. Overview
- 11.7.2. Description
- 11.7.3. Product Portfolio
- 11.7.4. Financials (As per Availability)
- 11.7.5. Recent Developments
- 11.8. AGC Inc.
- 11.8.1. Overview
- 11.8.2. Description
- 11.8.3. Product Portfolio
- 11.8.4. Financials (As per Availability)
- 11.8.5. Recent Developments
- 11.9. Danfoss
- 11.9.1. Overview
- 11.9.2. Description
- 11.9.3. Product Portfolio
- 11.9.4. Financials (As per Availability)
- 11.9.5. Recent Developments
- 12. Strategic Recommendations
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