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Oil Field Chemicals Market Segmentation By Product (Biocides, Corrosion & Scale Inhibitors, Demulsifiers, Polymers, Lubricants, Surfactants & Specialty Chemicals); By Application (Production Chemicals, Drilling Fluids, Well Stimulation Fluids, Cementing Fluids, Enhanced Oil Recovery and Work over & Completion) – Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Oil Field Chemicals Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Introduction to Oil Field Chemicals

Oil Field Chemicals are the components mainly used in oil and gas industry and for oil and gas extraction operations. They are applied in cementing, oil recovery and drilling fluids and stimulation.

Oil produced in oil fields contain large amount of water which gets mixed with oil naturally or through oil drilling process. It is necessary to separate the oil from water in order to purify it and reduce corrosion of containers and pipelines carrying oil. Demulsifiers are mostly used in the oil field and they mainly reduce the density of oil that causes easy separation of two chemicals.

Oil field chemicals are used to enhance certain properties and functions of oil wells or reservoirs. They play an important role in the lifecycle of an oil well and are used in upstream, downstream and midstream operations of the oil industry. Oil field chemicals require several raw materials which are easily available and their production requires moderate investments.

Market Size and Forecast

Technological changes and innovations have been encountered in the global oil field chemicals market in order to keep the pace with the rising demand and applications of the oilfield chemicals. Companies operating in the market must deal with the common issue such as mitigating the risks and companies in this field are deploying advanced robotics, operated by humans, to tackle this issue. Flourishing demand for oil across the globe is propelling the requirement for oilfield chemicals and enhancing the process carried out in the oil and gas plant.

The global oil field chemicals market is anticipated to record a CAGR of around 5.26% over the forecast period i.e. 2019-2027. The market is segmented by product & application.

By product type, the market is segmented into biocides, corrosion & scale inhibitors, demulsifiers, polymers, lubricants, surfactants & specialty chemicals out of which, the specialty chemicals segment is anticipated to have significant growth on account of increasing application in the crude oil and petro refinery activities. The recovery of oil from oil wells is improved and this fuels the demand for oil field chemicals from this segment. Various research and development activities undertaken by the companies for introducing environmentally friendly modifiers is further expected to boost the demand for oilfield chemicals. CLICK TO DOWNLOAD FREE SAMPLE

Oil Field Chemicals Market

The market is further segmented by application into production chemicals, drilling fluids, well stimulation fluids, cementing fluids, enhanced oil recovery and work over & completion out of which, drilling fluids segment is expected to have leading shares on account of increased deep and ultra-deep drilling activities. Enhanced oil recovery and well stimulations are anticipated to witness high profits during the forecast period.

In the coming years, the growing prominence on non-conventional sources such as coal-bed methane and shale gas will boost the oilfield chemicals market. Stringent health, safety and environmental regulations are opening new opportunities for the participants in the market. High investments from multinational corporations in the oilfield chemicals market is taking place thus boosting the market growth. To address the rising needs, the players in the market are getting into acquisitions in order to enhance their oilfield chemicals product portfolio.

Growth Drivers

Growing Production and Exploration of Oil and Natural Gas

The production of oil and natural gas is growing rapidly which will increase the production processes in various regions. According to India Brand Equity Foundation (IBEF), ONGC will invest USD 2.73 Billion in oil and gas wells in 2019. India is looking to cut their dependence on oil imports, so it is expected that foreign investors will have the opportunities to invest in petroleum projects by 2022. Therefore, this will further boost the demand for oilfield chemicals thus leading to the growth of the market during the forecast period.


Price fluctuations

The crude oil prices have seen many turns in the past years. OPEC is one such organization that has affected the fluctuation in the prices and this fluctuation has a negative impact on the exploration activities which is one of the factors hampering the growth of the oilfield chemicals market during the forecasted period.

Increasing Preferences of Renewable Energy Sources

The preference of renewable energy sources is increasing which is hampering the demand for oil and natural gas ultimately leading to a decline in the growth of the oilfield chemicals market.

Market Segmentation

Our-in depth analysis of the global oil field chemicals market includes the following segments:

By Product

  • Biocides
  • Corrosion & Scale Inhibitors
  • Demulsifiers
  • Polymers
  • Lubricants
  • Surfactants
  • Specialty Chemicals
  • Others

By Application

  • Production Chemicals
  • Drilling Fluids
  • Well Stimulation Fluids
  • Cementing Fluids
  • Enhanced Oil Recovery
  • Work over & Completion

By Region

On the basis of regional analysis, the global oil field chemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

North America is expected to have significant growth owing to the expansion of shale oil and gas industries in this region. There are vast potentials in the shale oil and gas exploration and enhanced oil recovery which is estimated to drive the growth of the market in the region. Asia Pacific is anticipated to have highest growth rate owing to increased drilling, stimulation and cementing activities. Additionally, huge investment in the energy sector in India and China, on account of rise in the demand for petroleum and crude oil is predicted to increase the demand of oilfield chemicals. As far as Middle East and Africa region is concerned, the region is witnessing increased oil-based power plants, petro refineries and oil treatments, presence of old oil wells for reconstruction, deep water reserves, and corrosive offshore fields which are expected to spur the growth of the oilfield chemicals market.

The global oil field chemicals market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Top Featured Companies Dominating the Market

  • Baker Hughes
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
  • Schlumberger Limited
  • Halliburton
  • Newpark Resources Inc.
  • Albemarle Corporation
  • Jiaxing Midas Oilfield Chemical Mfg. Ltd
  • Imperial Oilfield chemicals Pvt Ltd.
  • Gumpro Drilling Fluids Pvt Ltd.
  • Solvay


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