From $28.30B to $40.35B: Oilfield Chemical Market Insights and Trends to 2030
Oilfield Chemical Market Overview
The oilfield chemical market was estimated to be worth USD 28.30 billion in 2023. From 2024 to 2030, the market's total revenue is projected to increase at a compound annual growth rate (CAGR) of 5.2%, reaching around USD 40.35 billion.
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Oilfield Chemical Market Regional Insights
Regional analysis is conducted to assess the status of the Oilfield Chemical market in countries belonging to North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report provides a comprehensive analysis of several factors such as market size, growth rate, and import-export activities, across different regions. The Oilfield Chemical market is segmented broadly into these regions, allowing for a detailed understanding of the market landscape and dynamics in each geographical area.
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Oilfield Chemical Market Segmentation :
by Type
Corrosion & scale inhibitor.
Demulsifiers
Water Clarifies
Equipment Rental
Field Operation.
Analytical Services.
Biocides
Scale Inhibitors
Paraffin Inhibitors
In 2023, the Demulsifiers category is anticipated to lead the market and expand at a compound annual growth rate (CAGR) of 8.42%. Demulsifiers lower the danger of oil adulteration by separating water and oil from crude water-oil emulsion. Demulsify increases the value of crude oil exports, and it is the driving force behind demulsified specialty oilfield chemicals. Water in oil emulsions is separated by demulsifiers, also known as emulsion breakers. They deal with crude oil, which is often made using a lot of salty water.
by Application
Production
Well Stimulation
Drilling Fluids
Enhanced oil Recovery
Cementing
Work over & Competition
Another market that is anticipated to expand throughout the forecast period is drilling. The market's largest contributor, the drilling segment, is anticipated to expand at a compound annual growth rate (CAGR) of 5.1% between 2024 and 2030. The expansion of the gas and oil chemical industries is aided by hydraulic fracturing and drilling. Additives to drilling fluids keep hydrostatic pressure constant and stop wellbore cutting. Companies may drill longer, deeper, faster, and under more difficult conditions with the use of drilling fluids. Oilfield chemicals benefit greatly from the use of drilling fluids. During drilling, oil and gas firms need to efficiently control buoyancy, cooling, lubrication, healthy pressure, and stabilizing exposed rock. Fibers, suspension, clay control, biocides, polymers, rheology chemicals, surface modifiers, filters, and particles are all present in oilfield drilling fluid. Using membrane sealing and specialist cement, the driller stops losses.
Oilfield Chemical Market Key Players :
1. BASF SE (Germany)
2. Dow. (U.S.)
3. Halliburton (U.S.)
4. Schlumberger Limited (U.S.)
5. Nouryon (Netherlands)
6. Baker Hughes Company (U.S.)
7. Kemira (Finland)
8. Huntsman International LLC (U.S.)
9. Croda plc (U.K.)
10. Albermarle Corporation (U.S.)
11. Chevron Philips Chemical Company LLC (U.S.)
12. Innospec (U.S.)
13. NOV Inc., (U.S.)
14. Geo (U.S.)
15. KRATON CORPORATION (U.S.)
16. Thermax Limited (India)
17. Oleon N.V. (Belgium)
18. Ashland (U.S.)
19. Stepan Company (U.S.)
20. PureChem Services (Canada)
21. Elementis plc (U.S.)
22. Clariant
