Global Oilfield Chemicals Market Size, Trends & Growth Opportunity By Product (Surfactant, Polymer, Demulsifier, Corrosion & Scale Inhibitor), By Distribution Channel (Workover & Completion, Well Stimulation, Drilling & Cementing), By Region and Forecast

Global Oilfield Chemicals Market Size, Trends, & Growth Opportunity by Product (Surfactant, Polymer, Demulsifier, Corrosion & Scale Inhibitor), By Distribution Channel (Workover & Completion, Well Stimulation, Drilling & Cementing), By Region, and Forecast till 2027.

Global Oilfield Chemicals Market

The global oilfield chemicals market was valued at USD 29.11 billion in 2021 which is expected to reach USD 36.88 billion by 2027 at a CAGR 4.09 %from 2022-2027.

Oilfield chemicals are specialty chemicals used in the oil and gas sector to improve the extraction process. These chemicals are used to guard against corrosion, optimise drilling, improve oil recovery, prevent mud loss, stabilise drilling fluid at varied temperatures and pressures, and achieve peak performance. Oilfield chemicals are used at several stages of the oilfield, including upstream, midstream, and downstream.

Market Drivers

The increase in oil and gas exploration operations around the world is likely to drive the global oilfield chemicals market's growth. Furthermore, increased demand for oilfield chemicals will positively impact the growth of the worldwide oilfield chemicals market. Oilfield chemicals' benefits of increasing production and lowering costs will drive up demand for oilfield chemicals during this projection period. Furthermore, an increase in product releases will fuel the expansion of the oilfield chemicals market. For example, in April 2020, Sasol announced the cost-effective product series Terravis PI for the global oil and gas sector. TERRAVIS PI improves crude oil flowability while lowering solvent, utility, insulation, and mechanical removal expenses.

Market Restraints

Stringent laws and regulations, on the other hand, are projected to stymie the worldwide oilfield chemicals market's expansion.

Market Segmentation

The global oilfield chemicals market is segmented into chemical type, such as Surfactant, Polymer, Demulsifier, Corrosion & Scale Inhibitor, Biocide, and Others. Further market is segmented into application such as Workover & Completion, Well Stimulation, Drilling & Cementing, Production, and Enhanced Oil Recovery.

Regional analysis Also, Global Oilfield Chemicals industry is segmented into five regions, such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. During the forecast period, the market in North America is expected to dominate the global market. This is due to an increase in oil and gas operations due to the advent of hydraulic fracturing and drilling methods. Furthermore, technical developments and an increase in drilling activities are likely to boost regional growth during the predicted period. The increased exploration and production of shale gas in the United States is predicted to raise the need for oil-based chemicals.

Market Key Players

Various key players are discussed in this report, such as Champion Technologies, Stepan Company, REDA Oilfield, Imperial Oilfield Chemicals Pvt. Ltd., Universal Oil Field Chemicals Pvt. Ltd., Chemcon Specialty Chemicals Pvt. Ltd., Clariant AG, Kemira Oyj, and Huntsman Corporation.

Market Taxonomy

By Chemical Type

• Surfactant
• Polymer
• Demulsifier
• Corrosion & Scale Inhibitor
• Biocide
• Others

• Workover & Completion
• Well Stimulation
• Drilling & Cementing
• Production
• Enhanced Oil Recovery

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa