Specialty Oilfield Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
- January 2032
- 0 pages
Global Specialty Oilfield Chemicals Market: Brief Description
The specialty oilfield chemicals market is a multi-million market, which includes a wide array of specialty chemicals employed for a broad range of purposes. The major products offered within this market encompass industrial and institutional cleaning chemicals, specialty advanced polymers, pesticides, and construction chemicals among several others. The main purpose of specialty oilfield chemicals is to improve the recovery of oil from the oil-well. These chemicals are utilized during various processes involved in oil recovery from the oilfield such as drilling, exploration, production and maintenance.
Applications for specialty oilfield chemicals include corrosion inhibition, scale inhibition, pest control, demulsification, foam control agents, emulsifying agents, gelling agents, friction reduction, fracking agents, anti-freeze agents, dispersing agents, etc. These chemicals are used in oilfield functions such as in drilling fluids, well stimulation, oil production, well cementing, oil recovery, work-over and completion. Most chemicals are used for specific purposes throughout the production lifecycle of an oilfield. However, certain chemicals solve more than one purpose, especially surfactant chemicals. Alternately, more than one chemical can be used for a specific function in oilfield applications.
Most of the specialty oilfield chemicals in use today are of synthetic origin. Synthetic chemicals are preferred owing to lower prices, steady availability and customizability. However, there are natural substitutes as well for several synthetic based specialty oilfield chemicals. The natural based chemicals such as guar gum are costlier and limited by seasonal supply. Additionally, farmers as well as governments across the world prefer food crops over such cash crops over lingering food security concerns amongst rapidly growing world population.
Global Specialty Oilfield Chemicals Market: Trends and Prospects
The global specialty oilfield chemicals market is primarily driven by the high demand for energy production. Oil is the basic fuel source across the world for most industrial and many domestic activities. Additionally, the current shale gas revolution is expected to further boost demand for specialty oilfield chemicals globally. However, stringent regulations against chemicals potentially harmful for the environment and costly disposal procedures for chemicals after use are anticipated to hinder market growth. Development of new environment friendly products and solutions that comply with regulations laid down by global and regional regulatory authorities might present prospective opportunities for further demand growth.
Global Specialty Oilfield Chemicals Market: Regional Overview
In terms of geography North America is estimated to be the leading consumer owing to the high growth in the number of oilfield exploration and deep drilling activities. Additionally, the shale gas revolution has instilled renewed vigor in oil extraction and lead to increase in the demand for specialty oilfield chemicals market. Latin America, Eastern Europe, The Middle East, and Asia Pacific are amongst other rapidly growing markets. These markets are characterized by increasing oil exploration and drilling activities owing to rapid industrial growth in the regions. Most of the investment activities are concentrated on expansion into emerging markets such as Asia Pacific, Latin America and Eastern Europe. The market players are looking to enhance their footprints in the high growth regions mentioned above and take advantage of lower land and labor costs and lenient regulatory norms. Western Europe is expected to face slower growth amidst economic crises in the euro zone countries.
Global Specialty Oilfield Chemicals Market: Key Players
The specialty oilfield chemicals market is fragmented with major global players investing heavily in global mergers and acquisitions to consolidate the market. Some of the key market players include Ashland Inc., BASF SE, The Dow Chemical Company, Clariant AG, E.I. Du Pont De Nemours & Company, Solvay SA, The Lubrizol Corporation, Akzonobel NV, Baker Hughes Inc. and Kemira OYJ among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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