image

Specialty Oilfield Chemicals Market Report Scope & Overview:

The Specialty Oilfield Chemicals Market size was valued at USD 17.8 billion in 2022 and is expected to grow to USD 31.51 million by 2030 and grow at a CAGR of 7.4% over the forecast period of 2023-2030.

Oilfield chemistries encompass a wide range of specialty chemicals used in the oil and gas industry used to enhance the production and extraction of oil and gas. These chemicals are utilized for a variety of activities, such as drilling, production, and transportation. Some notable examples of oilfield chemistries include xanthan gum, anionic polyacrylamide, and petroleum sulfonate. These chemicals are specifically formulated to improve the efficiency and effectiveness of various oilfield operations. They help to increase the efficiency of the production process, reduce costs, and improve the quality of the final product. Additionally, these chemicals can help reduce the environmental impact of oil and gas production by minimizing waste and reducing the use of harmful chemicals.

Specialty Oilfield Chemicals Market Revenue Analysis

Get more information on Specialty Oilfield Chemicals Market - Request Sample Report

There are several factors driving the growth of the specialty oilfield chemicals market. One of the main factors is the increasing demand for oil and gas, which has led to a rise in exploration and production activities. Additionally, the need for more efficient and cost-effective production methods has also contributed to the growth of this market.

Market Dynamics:

Drivers

  • Increasing crude oil production activities

  • Increasing oil demand across the globe

  • Rising drilling activities for oil and gas production

As the world's population continues to grow and economies develop, the demand for oil is expected to rise steadily. This, in turn, is driving up the need for Specialty Oilfield Chemicals, which play a crucial role in the exploration, production, and transportation of oil and gas. The Specialty Oilfield Chemicals Market is experiencing significant growth due to the increase in drilling activities for oil and gas production. For instance, by the end of November 2022, a total of 178 discoveries had been made globally from new-field wildcat (NFW) drilling, equating to just over 18.7 billion barrels of oil equivalent (Bboe) recoverable (conventional). The Specialty Oilfield Chemicals Market is a vital component of the global oil and gas industry, and its growth is closely tied to the continued demand for these valuable resources. The market offers a wide range of chemicals, including drilling fluids, cementing additives, corrosion inhibitors, and more, which are essential for the efficient and safe extraction of oil and gas.

Restrain

  • Increasing adoption of renewable energy sources.

  • High cost associated with the disposal of the chemicals

  • Fluctuation in the crude oil prices

Opportunities

  • Exploration of new oilfields across various regions.

  • Increasing shale gas exploration in the North America region

As the demand for oil continues to rise, the need for efficient and effective extraction methods becomes increasingly important. With the discovery of new oilfields in various regions, the demand for specialty oilfield chemicals is expected to increase. This presents a lucrative opportunity for companies operating in this market to expand their operations and increase their revenue. Furthermore, the use of specialty oilfield chemicals can also lead to cost savings for oil companies. By improving the efficiency of oilfield operations, these chemicals can help reduce the overall cost of production. These factors will create opportunities for the specialty oilfield chemicals market in the future.

Challenges

  • Stringent environmental regulation imposed by the government on the drilling activities

  • Change in the chemical regulations as per the compliance requirements

Impact of COVID-19

The COVID-19 pandemic has had a significant impact on the specialty oilfield chemicals market. During the pandemic government imposed strict regulations on the companies such as temporary closure, traveling limitations, as well as social distancing which led to a shortage of labor force on the production site. This has led to a decrease in various activities across the globe.The market has experienced a decline in demand due to the decrease in oil and gas exploration and production activities. This has resulted in a decrease in revenue for companies operating in this sector. Furthermore, the pandemic has disrupted supply chains, leading to a shortage of raw materials and delayed deliveries. This has caused a ripple effect on the production and distribution of specialty oilfield chemicals, further exacerbating the decline in demand.

Impact of Russia-Ukraine War:

The Russian invasion of Ukraine affected the specialty oilfield chemicals market significantly. The war has disrupted the supply chain of specialty oilfield chemicals, causing shortages and price increases. Russia is a major producer of these chemicals, and the conflict has led to a decrease in production and exports. This has created a supply gap that has been difficult to fill, as other producers struggle to meet the demand.The impact of the war on the specialty oilfield chemicals market has been felt globally, as the oil and gas industry is a vital component of the global economy. The shortage of these chemicals has led to delays in drilling and production, which has affected the supply of oil and gas to the market.

Impact of Recession:

The recession has had a significant impact on the specialty oilfield chemicals market. This market is highly dependent on the oil and gas industry, which has been hit hard by the economic downturn. As a result, the demand for specialty oilfield chemicals has decreased, leading to a decline in sales and revenue for companies in this sector. Specialty oilfield chemicals are essential for maintaining the efficiency and productivity of oil and gas operations. However, with the recession causing a decrease in oil and gas prices, many companies have reduced their exploration and production activities, resulting in lower demand for specialty oilfield chemicals.

Market segmentation

By Type

  • Corrosion Inhibitors

  • Scale Inhibitors

  • Demulsifiers

  • Water Clarifiers

  • Surfactants

  • Biocides

  • Paraffin Inhibitors

  • Gas Well Foamers

  • Others

By Application

  • Drilling

  • Cement

  • Stimulation

  • Production

Specialty Oilfield Chemicals Market Segmentation Analysis

Get Customized Report as per your Business Requirement - Request For Customized Report

Regional Analysis

The North American region has emerged as a leader in the specialty chemical market in 2022 and is expected to maintain this position with a significant Compound Annual Growth Rate (CAGR) during the forecast period. The growth of the specialty oilfield chemical market in this region can be attributed to the increasing shale gas exploration activities. The United States and Canada are the leading producers of commercially viable natural gas extracted from shale formations worldwide. According to the U.S. Energy Information Administration (EIA), in 2022, the U.S. produced approximately 28.5 trillion cubic feet (Tcf) of dry natural gas from shale formations, accounting for approximately 80% of the country's total dry natural gas production in the same year.The abundance of shale gas reserves in North America has created a favorable environment for the growth of the specialty chemical market. The increasing demand for specialty oilfield chemicals, such as drilling fluids, corrosion inhibitors, and biocides, has been driven by the need to enhance the efficiency and productivity of shale gas exploration activities. The use of these chemicals helps to reduce operational costs and improve the overall performance of the drilling process.Moreover, the North American region has a well-established infrastructure for the production and distribution of specialty chemicals. The presence of leading specialty chemical manufacturers in this region has further boosted the growth of the market. These manufacturers are investing heavily in research and development activities to develop innovative and sustainable products that meet the evolving needs of the industry.

During the forecast period of 2023-2030, the Asia-Pacific region is projected to experience the fastest Compound Annual Growth Rate (CAGR). This growth can be attributed to the rising demand and consumption of shale gas across various industries, as well as the increasing urbanization in the region. Additionally, an increase in investment in the energy sector and a growing demand for crude oil will further propel the market for Specialty Oilfield Chemicals.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of the Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Key Players

The Key Players are BASF, Clariant, Ecolab, DowDuPont, Schlumberger, Solvay, AkzoNobel, Halliburton, Baker Hughes, Kemira.& Other Players.

Clariant​​​​​​​-Company Financial Analysis

​​​​​​​

 

Recent Development:

  • On April 26, 2021, BASF and Omya announced their collaboration to enhance and bring to market BasoSphere™ hollow glass microspheres for cementing applications in the oil and gas sector. The BasoSphere™ technology offers exceptional strength and durability, making it an ideal choice for cementing applications in challenging environments. With this collaboration, BASF and Omya are committed to providing the oil and gas industry with cutting-edge solutions that meet their evolving needs.

Specialty Oilfield Chemicals Market Report Scope:

Report Attributes Details
Market Size in 2022  US$  17.8 Bn
Market Size by 2030  US$ 31.51Bn
CAGR   CAGR of 7.4% From 2023 to 2030
Base Year 2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (CorrosionInhibitors, Scale Inhibitors, Demulsifiers, Water Clarifiers, Surfactants, Biocides, Paraffin Inhibitors, Gas Well Foamers, and Others)
• By Application (Drilling, Cement, Stimulation, and Production)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles BASF, Clariant, Ecolab, DowDuPont, Schlumberger, Solvay, AkzoNobel, Halliburton, Baker Hughes, Kemira.
Key Drivers • Increasing crude oil production activities
• Increasing oil demand across the globe
• Rising drilling activities for oil and gas production
Market Opportunities • Exploration of new oilfields across various regions.
• Increasing shale gas exploration in the North America region

 

Frequently Asked Questions

Specialty Oilfield Chemicals Market recorded a value of USD 17.8 billion in 2022.

The expected CAGR of the global Specialty Oilfield Chemicals Market during the forecast period is 7.4%

The major competitors of the Specialty Oilfield Chemicals Market are BASF, Clariant, Ecolab, DowDuPont, Schlumberger, Solvay, AkzoNobel, Halliburton, Baker Hughes, and Kemira.

North America region is likely to lead the Specialty Oilfield Chemicals Market during the forecast period.

Increasing crude oil production activities, increasing oil demand across the globe, and rising drilling activities for oil and gas productionare the major driving factors of Specialty Oilfield Chemicals Market.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Russia-Ukraine War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Specialty Oilfield Chemicals Market Segmentation, By Type
8.1 Corrosion Inhibitors
8.2 Scale Inhibitors
8.3 Demulsifiers
8.4 Water Clarifiers
8.5 Surfactants
8.6 Biocides
8.7 Paraffin Inhibitors
8.8 Gas Well Foamers
8.9 Others

9. Specialty Oilfield Chemicals Market Segmentation, By Application
9.1Drilling
9.2 Cement
9.3 Stimulation
9.4 Production

10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North AmericaSpecialty Oilfield Chemicals Market by Country
10.2.2North AmericaSpecialty Oilfield Chemicals Market by Type
10.2.3 North America Specialty Oilfield Chemicals Market by Application
10.2.4 USA
10.2.4.1 USA Specialty Oilfield Chemicals Market by Type
10.2.4.2 USA Specialty Oilfield Chemicals Market by Application
10.2.5 Canada
10.2.5.1 Canada Specialty Oilfield Chemicals Market by Type
10.2.5.2 Canada Specialty Oilfield Chemicals Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Specialty Oilfield Chemicals Market by Type
10.2.6.2 Mexico Specialty Oilfield Chemicals Market by Application
10.3 Europe
10.3.1 Europe Specialty Oilfield Chemicals Market by Country
1.3.3.2 Europe Specialty Oilfield Chemicals Market by Type
10.3.3 Europe Specialty Oilfield Chemicals Market by Application
10.3.4Germany
10.3.4.1 Germany Specialty Oilfield Chemicals Market by Type
10.3.4.2 Germany Specialty Oilfield Chemicals Market by Application
10.3.5 UK
10.3.5.1 UK Specialty Oilfield Chemicals Market by Type
10.3.5.2 UK Specialty Oilfield Chemicals Market by Application
10.3.6 France
10.3.6.1 France Specialty Oilfield Chemicals Market by Type
10.3.6.2 France Specialty Oilfield Chemicals Market by Application
10.3.7 Italy
10.3.7.1 Italy Specialty Oilfield Chemicals Market by Type
10.3.7.2 Italy Specialty Oilfield Chemicals Market by Application
10.3.8 Spain
10.3.8.1 Spain Specialty Oilfield Chemicals Market by Type
10.3.8.2 Spain Specialty Oilfield Chemicals Market by Application
10.3.9 The Netherlands
10.3.9.1 Netherlands Specialty Oilfield Chemicals Market by Type
10.3.9.2 Netherlands Specialty Oilfield Chemicals Market by Application
10.3.10 Rest of Europe
10.3.10.1 Rest of Europe Specialty Oilfield Chemicals Market by Type
10.3.10.2 Rest of Europe Specialty Oilfield Chemicals Market by Application
10.4 Asia-Pacific
10.4.1 Asia PacificSpecialty Oilfield Chemicals Market by Country
10.4.2Asia PacificSpecialty Oilfield Chemicals Market by Type
10.4.3 Asia Pacific Specialty Oilfield Chemicals Market by Application
10.4.4 Japan
10.4.4.1 Japan Specialty Oilfield Chemicals Market by Type
10.4.4. 2Japan Specialty Oilfield Chemicals Market by Application
10.4.5. South Korea
10.4.5.1 South Korea Specialty Oilfield Chemicals Market by Type
10.4.5.2. South Korea Specialty Oilfield Chemicals Market by Application
10.4.6 China
10.4.6.1 China Specialty Oilfield Chemicals Market by Type
10.4.6.2. China Specialty Oilfield Chemicals Market by Application
10.4.7 India
10.4.7.1 India Specialty Oilfield Chemicals Market by Type
10.4.7.2. India Specialty Oilfield Chemicals Market by Application
10.4.8 Australia
10.4.8.1 Australia Specialty Oilfield Chemicals Market by Type
10.4.8.2. Australia Specialty Oilfield Chemicals Market by Application
10.4.9 Rest of Asia-Pacific
10.4.9.1 APAC Specialty Oilfield Chemicals Market by Type
10.4.9.2. APAC Specialty Oilfield Chemicals Market by Application
10.5 The Middle East & Africa
10.5.1 The Middle East & Africa Specialty Oilfield Chemicals Market by Country
10.5.2 The Middle East & Africa Specialty Oilfield Chemicals Market by Type
10.5.3The Middle East & Africa Specialty Oilfield Chemicals Market by Application
10.5.4 Israel
10.5.7.1 Israel Specialty Oilfield Chemicals Market by Type
10.5.7.2 Israel Specialty Oilfield Chemicals Market by Application
10.5.5 UAE
10.5.5.1 UAE Specialty Oilfield Chemicals Market by Type
10.5.5.2 UAE Specialty Oilfield Chemicals Market by Application
10.5.6 South Africa
10.5.6.1 South Africa Specialty Oilfield Chemicals Market by Type
10.5.6.2 South Africa Specialty Oilfield Chemicals Market by Application
10.5.7 Rest of Middle East & Africa
10.5.7.1 Rest of Middle East & Asia Specialty Oilfield Chemicals Market by Type
10.5.7.2 Rest of Middle East & Asia Specialty Oilfield Chemicals Market by Application
10.6 Latin America
10.6.1. Latin America Specialty Oilfield Chemicals Market by Country
10.6.2. Latin America Specialty Oilfield Chemicals Market by Type
10.6.3 Latin America Specialty Oilfield Chemicals Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Specialty Oilfield Chemicals Market by Type
10.6.4.2 Brazil Specialty Oilfield Chemicals Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Specialty Oilfield Chemicals Market by Type
10.6.5.2 Argentina Specialty Oilfield Chemicals Market by Application
10.6.6Rest of Latin America
10.6.6.1 Rest of Latin America Specialty Oilfield Chemicals Market by Type
10.6.6.2 Rest of Latin America Specialty Oilfield Chemicals Market by Application

11 Company Profile
11.1 BASF
11.1.1 Market Overview
11.1.2 Financials
11.1.3 Product/Services/Offerings
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Ecolab
11.2.1 Market Overview
11.2.2 Financials
11.2.3 Product/Services/Offerings
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Clariant
11.3.1 Market Overview
11.3.2 Financials
11.3.3 Product/Services/Offerings
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 DowDuPont
11.4.1 Market Overview
11.4.2 Financials
11.4.3 Product/Services/Offerings
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Schlumberger
11.5.1 Market Overview
11.5.2 Financials
11.5.3 Product/Services/Offerings
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Solvay
11.6.1 Market Overview
11.6.2 Financials
11.6.3 Product/Services/Offerings
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 AkzoNobel
11.7.1 Market Overview
11.7.2 Financials
11.7.3 Product/Services/Offerings
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Halliburton
11.8.1 Market Overview
11.8.2 Financials
11.8.3 Product/Services/Offerings
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Baker Hughes
11.9.1 Market Overview
11.9.2 Financials
11.9.3 Product/Services/Offerings
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Kemira
11.10.1 Market Overview
11.10.2 Financials
11.10.3 Product/Services/Offerings
11.10.4 SWOT Analysis
11.10.5 The SNS View

12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments

13. USE Cases and Best Practices

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone