Global Oilfield Chemicals Market Report and Forecast 2024-2032

Global Oilfield Chemicals Market Outlook

The global oilfield chemicals market attained a value of USD 26.85 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.4% to reach USD 39.49 billion by 2032.

Increasing Demand for Demulsifiers to Aid the Oilfield Chemicals Industry Growth

Based on product, the demulsifiers segment is expected to provide significant opportunities for the market expansion in the coming years. This can be associated with the increased demand for demulsifiers in the process of separating oil and water at the oilfields. In addition, demulsifiers also reduce the corrosion of pipes, thus, reducing the overall equipment maintenance cost. These factors are anticipated to aid the market growth in the coming years.

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North America to Account for a Significant Market Share in the Oilfield Chemicals Industry

Region-wise, North America is expected to occupy a significant share in the oilfield chemicals industry. Within North America, the United States is likely to be a major market for oilfield chemicals. The increase in drilling activities in the region is driving the demand for oilfield chemicals. The increased exploration activities and a steady expansion of shale oil and gas drilling have been contributing to the market growth.

Oilfield Chemicals: Market Segmentation

Oilfield chemicals are chemical components that are utilised in oil and gas extraction operations. These components block the arrangement of metal scales and reduce the water content in the oil well during exploration and drilling activities, which is leading to a rise in demand for and increased utilisation of oilfield chemicals.

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By product, the market can be distributed into:

• Inhibitors
• Demulsifiers
• Rheology Modifiers
• Friction Reducers 
• Biocides
• Surfactants
• Foamers
• Others

The market can be broadly categorised, on the basis of application, into:

• Drilling
• Production
• Cementing
• Workover and Completion

On the basis of location, the market can be segmented into:

• Onshore
• Offshore

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Increased Drilling Activities to Provide Lucrative Opportunities for the Oilfield Chemicals Industry Growth

The market for oilfield chemicals is anticipated to witness a significant growth due to a growth in oil and gas exploration activities across the world, as a result of the increasing energy demands globally. The increase in drilling activities, such as deep-water and ultra deep-water drilling activities, is estimated to aid the oilfield chemical industry in the coming years. This can be attributed to the rapid drying up of oil fields, as a result of which the major energy companies are aiming to extract oil and gas trapped beneath more challenging and deeper basins. Moreover, the emergence of eco-friendly oilfield chemicals is expected to augment the market growth in the forecast period.

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Key Industry Players in the Global Oilfield Chemicals Market

The report presents a detailed analysis of the following key players in the global oilfield chemicals market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Halliburton Company
• Kraton Corporation
• Solvay SA
• BASF SE
• Clariant International Ltd.
• NuGenTec LLC
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report