Malaysia Oilfield Chemicals Market By Type (Commodity Oilfield Chemicals, Special Oilfield Chemicals), By Oil Field Type (Onshore, Offshore), By Application (Drilling, Completion Method, Cementing, Stimulation, Enhanced Oil Recovery, Others), By Region, Competition Forecast & Opportunities, 2018-2028F
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMalaysia Oilfield Chemicals Market By Type (Commodity Oilfield Chemicals, Special Oilfield Chemicals), By Oil Field Type (Onshore, Offshore), By Application (Drilling, Completion Method, Cementing, Stimulation, Enhanced Oil Recovery, Others), By Region, Competition Forecast & Opportunities, 2018-2028F
In 2021, Malaysia produced approximately 573 thousand barrels of oil per day.
Malaysia Oilfield Chemicals Market is expected to expand during the projected period due to increasing demand for oil and gas from the energy industry, increasing deep drilling activities for oil and gas, and increasing extraction from existing as well as new and unconventional reserves. Oilfield chemicals are used in well drilling, production facilities, and workover fluids to achieve peak performance and increase oil recovery efficiency. These chemicals are necessary to facilitate the handling, transportation, and production of crude oil. The growing crude oil production leads to an increase in petroleum operations, which is expected to propel the Malaysia oilfield chemicals market.
Malaysia Oilfield Chemicals Market is a dynamic and competitive sector that offers opportunities for growth and innovation. The market players are focusing on expanding their product portfolio, enhancing their quality standards, improving their distribution network, and increasing their market share. Along with this, mergers and acquisitions in in the oilfield chemicals market enhances companies' presence in the country as these acquisitions help companies to better serve their customers and meet the growing demand for oilfield chemicals in Malaysia in the forecast period.
Rising Demand for Oilfield Chemicals for Oil Extraction Process
Malaysia is a significant producer of oil and gas, and the industry plays a crucial role in the country's economy.
For instance, Dow Chemical produces
Moreover, the increasing demand for oilfield chemicals is the need for environmental protection. The oil and gas industries are known for their environmental impact, oilfield chemicals are used to reduce the environmental impact of oil and gas production by minimizing waste and emissions as well as the Malaysian government imposing stricter regulations to minimize this impact by ensuring that the oil and gas industry operates in an environmentally friendly manner. This has led to an increase in the demand for oilfield chemicals that are more environmentally friendly.
For instance,
Therefore, the rising demand for oil extraction led to the growth of Malaysia Oilfield Chemicals Market in the projected year.
Download Free Sample ReportGrowth of Drilling and Cementing Applications
Drilling is a fundamental process in the oil and gas industry, and it involves drilling a hole into the earth's surface to extract hydrocarbons. Oilfield chemicals are used extensively in the drilling process to ensure the safety and efficiency of the operation. Drilling fluids, also known as drilling mud, are a type of oilfield chemical used to lubricate the drill bit and carry the drill cuttings to the surface. The drilling fluid also helps to stabilize the wellbore and prevent the collapse of the walls. Furthermore, cementing is another critical process in the oil and gas industry, and it involves sealing the wellbore with cement to ensure that the hydrocarbons do not escape into the surrounding rock formations. Oilfield chemicals are used in cementing operations to improve the quality and performance of the cement. The chemicals are used to increase the density of the cement, improve its strength, and reduce the time required for the cement to be set. Furthermore, many oil extraction projects have begun, with drilling and cementing in the early stages, which is expected to increase the demand for oilfield chemicals.
For instance, PETRONAS Carigali Sdn Bhd (PCSB), a wholly owned subsidiary of PETRONAS, announced an oil and gas discovery at the Nahara-1 well in Block SK306, located in the shallow waters of Balingian Province about 150 kilometers from Bintulu, off the coast of Sarawak, offshore Malaysia in December 2022.
Furthermore, Shell Plc launched the first deep-water project in Malaysia using advanced Shell technology to safely produce oil from the Gumusut-Kakap field in seas 1,200 meters (3,900 feet) deep with an annual peak oil production of around 148,000 barrels a day, the platform contributes significantly to Malaysia’s oil production.
All these factors dominate the growth of the Malaysia Oilfield Chemicals market in the upcoming years.
Increasing Demand for Eco-friendly Oilfield Chemicals
Chemicals with reduced flammability or flashpoint, lower exposure toxicity, lower bioaccumulation, greater biodegradability, and sustainability in both application and production are examples of green solutions in the oil fields. Amid rising environmental concerns, manufacturers are adopting and developing new products that are cleaner and less damaging to the environment resulting in increasing demand for eco-friendly oilfield chemicals in the forecast period.
For instance, Hextar KCS Sdn Bhd, a subsidiary company of
However, the oil and gas industries are highly volatile and cyclical, with prices subject to sudden and significant fluctuations which make it difficult for companies to plan their operations and investments effectively and the prices of oil and gas products have a significant impact on the demand for oilfield chemicals
Recent Development
- In 2023, Clariant IGLSpecialty Chemicals (CISC) showcased renewable-based ethylene oxide derivativesat ChemExpo India.
- In 2022, PETRONAS ChemicalsGroup Berhad signed an agreement withits joint venture (JV) company, BASF PETRONAS Chemicals Sdn Bhd (BPC), toacquire the 113,000-metric-ton/year maleic anhydride plant located in Gebeng, Kuantan.
- In 2021, Uzma received acontract from Medco to provide chemical supply and services for the Bualuangoilfield in Thailand.
- In 2020, PCC and PETRONAS ChemicalsGroup jointly started the production ofspecialty chemicals in Malaysia.
Market Segmentation
Malaysia Oilfield Chemicals Market
Company Profiles
OneSubsea Malaysia Systems Sdn. Bhd., Halliburton Asia Energy Services (M) Sdn Bhd, Baker Hughes (M) Sdn. Bhd., BASF (Malaysia) Sdn. Bhd., Dow Chemical Pacific Ltd, Petroliam Nasional Berhad (PETRONAS), UZMA Berhad, Hextar KCS Sdn Bhd., ACME Chemicals (Malaysia) Sdn. Bhd., Clariant (Malaysia) Sdn Bhd
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, volume forecast, Company shares, competitive landscape, growth factors, and trends |
| Segments covered | Type Oil Field Type Application |
| Region scope | East Malaysia, West Malaysia |
| Key companies profiled | OneSubsea Malaysia Systems Sdn. Bhd., Halliburton Asia Energy Services (M) Sdn Bhd, Baker Hughes (M) Sdn. Bhd., BASF (Malaysia) Sdn. Bhd., Dow Chemical Pacific Ltd, Petroliam Nasional Berhad (PETRONAS), UZMA Berhad, Hextar KCS Sdn Bhd., ACME Chemicals (Malaysia) Sdn. Bhd., Clariant (Malaysia) Sdn Bhd |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy