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Oilfield Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global oilfield chemicals market reached a value of US$ 21.91 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 29.39 Billion by 2027, exhibiting a growth rate (CAGR) of 4.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Oilfield chemicals refer to chemical compounds that are a sub-category of specialty chemicals constituting petroleum sulfonate, Fe-Cr lignosulfonate, anionic polyacrylamide, and xanthan gum. Designed to improve the efficiency and efficacy of various on-site oilfield activities, they are extensively used in production, drilling, completion, extraction, and refining applications. These chemicals minimize the amount of water injected into oil wells during exploration and drilling to prevent the production of metal scales. Thus, they help maintain a smooth-running oilfield at lower costs due to minimal stoppages or delays during the drilling process. Some of the different types of oilfield chemicals include biocides, demulsifiers, polymers, corrosion and scale inhibitors, and surfactants. As a result, these chemicals are extensively used in drilling and cementing, well stimulation, and enhanced oil recovery.

 

 
 

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Oilfield Chemicals Market Trends: 

The market is primarily driven by the rising demand for petroleum and petroleum-based fuels in the automotive industry. This demand is further supported by the widespread adoption of shale gas in numerous industry verticals, thereby providing an overall boost to the market. In line with this, a considerable rise in oil production and exploration operations in deep-water drilling operations is providing an impetus to the market growth. Apart from this, the growing demand for energy across the world, coupled with the significant increase in crude oil production, is propelling the growth of the specialty oilfield chemical market. Other factors, such as the rising global population, extensive research and development (R&D) activities conducted by numerous key players and the increasing investments by the governments of several countries to improve the overall oil and gas infrastructure, are also contributing to the market growth across the globe.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global oilfield chemicals market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, location and application.

Breakup by Product:

 

 
 

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

Breakup by Location:

  • Onshore
  • Offshore
     

Breakup by Application:

  • Drilling Fluid
  • Production Chemicals
  • Cementing
  • Workover and Completion
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, Ashland, Baker Hughes Company, BASF SE, CES Energy Solutions Corp., ChampionX Corporation, Chevron Phillips Chemical Company, Clariant AG, Halliburton, Huntsman International LLC, Kemira Oyj, Stepan Company, The Dow Chemical Company and The Lubrizol Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product, Location, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Albemarle Corporation, Ashland, Baker Hughes Company, BASF SE, CES Energy Solutions Corp., ChampionX Corporation, Chevron Phillips Chemical Company, Clariant AG, Halliburton, Huntsman International LLC, Kemira Oyj, Stepan Company, The Dow Chemical Company and The Lubrizol Corporation.
Customization Scope 10% Free Customization
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Oilfield Chemicals Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product
    6.1    Inhibitors
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Demulsifiers
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Rheology Modifiers
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Friction Reducers
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Biocides
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Surfactants
        6.6.1 Market Trends
        6.6.2 Market Forecast
    6.7    Foamers
        6.7.1 Market Trends
        6.7.2 Market Forecast
    6.8    Others
        6.8.1 Market Trends
        6.8.2 Market Forecast
7    Market Breakup by Location
    7.1    Onshore
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Offshore
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Application
    8.1    Drilling Fluid
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Production Chemicals
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Cementing
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Workover and Completion
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Albemarle Corporation
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Ashland
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    Baker Hughes Company
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    BASF SE
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    CES Energy Solutions Corp.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    ChampionX Corporation
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Chevron Phillips Chemical Company
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 SWOT Analysis
        14.3.8    Clariant AG
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
        14.3.9    Halliburton
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    Huntsman International LLC
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
        14.3.11    Kemira Oyj
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    Stepan Company
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis
        14.3.13    The Dow Chemical Company
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio
        14.3.14    The Lubrizol Corporation
           14.3.14.1 Company Overview
           14.3.14.2 Product Portfolio
           14.3.14.3 SWOT Analysis

List of Figures

Figure 1: Global: Oilfield Chemicals Market: Major Drivers and Challenges
Figure 2: Global: Oilfield Chemicals Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Oilfield Chemicals Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Oilfield Chemicals Market: Breakup by Product (in %), 2021
Figure 5: Global: Oilfield Chemicals Market: Breakup by Location (in %), 2021
Figure 6: Global: Oilfield Chemicals Market: Breakup by Application (in %), 2021
Figure 7: Global: Oilfield Chemicals Market: Breakup by Region (in %), 2021
Figure 8: Global: Oilfield Chemicals (Inhibitors) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Oilfield Chemicals (Inhibitors) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Oilfield Chemicals (Demulsifiers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Oilfield Chemicals (Demulsifiers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Oilfield Chemicals (Rheology Modifiers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Oilfield Chemicals (Rheology Modifiers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Oilfield Chemicals (Friction Reducers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Oilfield Chemicals (Friction Reducers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Oilfield Chemicals (Biocides) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Oilfield Chemicals (Biocides) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Oilfield Chemicals (Surfactants) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Oilfield Chemicals (Surfactants) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Oilfield Chemicals (Foamers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Oilfield Chemicals (Foamers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Oilfield Chemicals (Other Products) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Oilfield Chemicals (Other Products) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Oilfield Chemicals (Onshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Oilfield Chemicals (Onshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Oilfield Chemicals (Offshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Oilfield Chemicals (Offshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Oilfield Chemicals (Drilling Fluid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Oilfield Chemicals (Drilling Fluid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Oilfield Chemicals (Production Chemicals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Oilfield Chemicals (Production Chemicals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Oilfield Chemicals (Cementing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Oilfield Chemicals (Cementing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Oilfield Chemicals (Workover and Completion) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Oilfield Chemicals (Workover and Completion) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: North America: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: North America: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: United States: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: United States: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Canada: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Canada: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Asia-Pacific: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Asia-Pacific: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: China: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: China: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Japan: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Japan: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: India: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: India: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: South Korea: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: South Korea: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Australia: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Australia: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Indonesia: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Indonesia: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Others: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Others: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Europe: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Europe: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Germany: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Germany: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: France: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: France: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: United Kingdom: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: United Kingdom: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Italy: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Italy: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Spain: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Spain: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Russia: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Russia: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Latin America: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Latin America: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Brazil: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Brazil: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Mexico: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Mexico: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Others: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Others: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Middle East and Africa: Oilfield Chemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Middle East and Africa: Oilfield Chemicals Market: Breakup by Country (in %), 2021
Figure 84: Middle East and Africa: Oilfield Chemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 85: Global: Oilfield Chemicals Industry: SWOT Analysis
Figure 86: Global: Oilfield Chemicals Industry: Value Chain Analysis
Figure 87: Global: Oilfield Chemicals Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Oilfield Chemicals Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Oilfield Chemicals Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 3: Global: Oilfield Chemicals Market Forecast: Breakup by Location (in Million US$), 2022-2027
Table 4: Global: Oilfield Chemicals Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Oilfield Chemicals Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Oilfield Chemicals Market: Competitive Structure
Table 7: Global: Oilfield Chemicals Market: Key Players


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Key Questions Answered in This Report

The global oilfield chemicals market was valued at US$ 21.91 Billion in 2021.

We expect the global oilfield chemicals market to exhibit a CAGR of 4.80% during 2022-2027.

The increasing oil production and exploration in deep-water reserves, along with the rising demand
for petroleum and petroleum-based fuels, is primarily driving the global oilfield chemicals market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in temporary closure of numerous
manufacturing units for oilfield chemicals.

Based on the location, the global oilfield chemicals market has been segmented into onshore and
offshore. Currently, onshore represents the largest market share.

Based on the application, the global oilfield chemicals market can be bifurcated into drilling fluid,
production chemicals, cementing, and workover and completion. Among these, drilling fluid
accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle
East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global oilfield chemicals market include Albemarle Corporation,
Ashland, Baker Hughes Company, BASF SE, CES Energy Solutions Corp., ChampionX Corporation,
Chevron Phillips Chemical Company, Clariant AG, Halliburton, Huntsman International LLC, Kemira
Oyj, Stepan Company, The Dow Chemical Company, and The Lubrizol Corporation.

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