Oil Field Chemicals Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, Segmented By Application (Drilling & Cementing, Production, Completion, Midstream & Downstream and Enhance Oil Recovery), By Oil Field Type (Onshore, Offshore), By Type (Commodity Oil Field Chemicals, Specialty Oil Field Chemicals), By Region, and Competition 2018-2028
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 CustomizationOil Field Chemicals Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, Segmented By Application (Drilling & Cementing, Production, Completion, Midstream & Downstream and Enhance Oil Recovery), By Oil Field Type (Onshore, Offshore), By Type (Commodity Oil Field Chemicals, Specialty Oil Field Chemicals), By Region, and Competition 2018-2028
Global Oil Field Chemicals Market is expected to witness significant growth in the coming years due to deployment of advanced unconventional oil recovery methods.
Oil and Gas Industry is broadly categorized in two major segments which is Upstream and Downstream. Upstream Industry deals with the processes which begins from the discovery of hydrocarbon producing blocks to successful production of crude Oil from underground reservoirs. Whereas Downstream Segment ensures that raw crude oil is properly segregated and refined for the final consumption by end user industries.
From the Investor perspective, it becomes paramount to optimize the cash flow at each node of various operations running under upstream and downstream segments. So huge amount of capital is invested by the industry players to regulate the cashflow in the entire hydrocarbon value chain. Production tools, recovery techniques, drilling technologies, and oil field chemicals are the basic minimum requirements which are consumed at their best limits to generate larger profits. Thus, oil field chemicals have huge impact on oil fields and refineries facilitate the production without damaging any adjoining processes from drilling an oil well to refining by the downstream companies. Its specific usage in operations like drilling, production, workover, cementing, completion, EOR, etc. has made the overall market more investible.
Paradigm Shift Towards Local Manufacturing
In 2019, the upstream investment plans stood at around USD30 billion, which increased to around USD36.5 billion in 2020.
Rise of Oil Exploration and Production Activities Will Drive Market Growth
The market is driven by the increase in oil exploration and production activities, which in turn fuels demand for sophisticated drilling fluids, oilfield chemicals, deep-water and ultra-deep-water drilling projects, and the rapid development of shale oil and gas drilling and production. The drilling and cementing segment is expected to dominate the market for the global oilfield chemicals due to the thousands of drilling rigs present around the world, rising crude oil production each year to meet the rising demand to meet the energy requirement, and the use of both organic and inorganic base chemicals. Oilfield chemicals in the drilling segment maintain temperature and stop contaminated goods from getting into the drilling fluid system.
Incorporating Unconventional Techniques to Extract Oil from Tight Fields
Conventional methods to produce oil might work normally in a field where natural energy of the reservoir is sufficient to pull out oil from the earth against high temperature and pressure conditions. However, , those methods are obsolete and needs an improvisation as most of the fields are profitable. Oil and gas assets demand advanced techniques to be deployed to have most of the recoverable oil for further sale to oil refiners.
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Market Segmentation
Company Profiles
Saudi Arabian Oil Company (Saudi Aramco), PJSC Rosneft Oil Company, Kuwait Petroleum Corporation, National Iranian Oil Company, China National Petroleum Company, ExxonMobil Corporation, Petróleo Brasileiro S.A, Abu Dhabi National Oil Company, Chevron Corporation, Petroleos Mexicanos
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018-2022 |
| Estimated Year | 2023 |
| Forecast Period | 2024-2028 |
| Quantitative Units | Revenue in USD Million, Volume in Thousand Tonnes, and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Application Oil Field Type Type |
| Regional Scope | Middle East & Africa; North America; Europe; South America; and Asia Pacific. |
| Country Scope | Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Iran, USA, Canada, Mexico, Russia, Norway, United Kingdom, Brazil, Colombia, Venezuela, Argentina, China, Indonesia, India and Malaysia |
| Key Companies Profiled | Saudi Arabian Oil Company (Saudi Aramco), PJSC Rosneft Oil Company, Kuwait Petroleum Corporation, National Iranian Oil Company, China National Petroleum Company, ExxonMobil Corporation, Petróleo Brasileiro S.A, Abu Dhabi National Oil Company, Chevron Corporation, Petroleos Mexicanos |
| 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/pdf format on special request) |
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