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CHEMICALS AND ADVANCED MATERIALS

Oilfield Biocides Market Segmentation by Type {THPS (Tetrakis Hydroxymethyl Phosphonium Sulfate), TTPC (Tributyl Tetradecyl Phosphonium Chloride), QAC (Quaternary Ammonium Compounds), DBNPA (2-Dibromo-3-Nitrilopropionamide), and Others}; and by Application (Downstream, Midstream, and Upstream) – Global Demand Analysis & Opportunity Outlook 2031

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IN THE NEWS

  • May 19, 2022: Evonik Industries to launch a new photovoltaic wafer cutting with an enhanced processing aid to improve its overall performance.

  • April 30, 2021: Zirax becomes a participant in the 20th anniversary of “Equipment and Technology for the Oil and Gas Complex”, an international exhibition held in Moscow, Russia.

Global Oilfield Biocides Market Highlights Over 2022 - 2031

The global oilfield biocides market is estimated to garner significant revenue by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the rising oil & gas industry, and increasing utilization of hydraulic technology for oil extraction. Moreover, growing demand for the petroleum-based products is projected to drive the market growth. Along with this, the higher utilization of oilfield biocides for multiple purposes such as, crude oil treatment and transportation, drilling protection, produced water treatment, pipeline pigging, and others is anticipated to boost the market growth. For instance, in 2020, approximately 650 functional pipelines were noticed while about 30 oil pipelines were being manufactured. Furthermore, oilfield biocides are utilized to prevent bacteria formation in oil well drilling. Oilfield biocides are chemicals that are outsourced by multiple gases and oil companies. The developing oil & gas industry is also projected to hike the growth of the market during the forecast period. Additionally, in 2020, global oil production was estimated to be about 90 million barrels per day, which surged to over 95 million barrels per day in 2021. The demand for crude oil per day is estimated to reach approximately 100 million barrels globally by 2026.  All these factors are estimated to influence the market positively over the forecast period.

Oilfield Biocides Market

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The market is segmented by type into THPS, TTPC, QAC, DBNPA, and others, out of which, the DBNPA segment is anticipated to hold the notable share in the global oilfield biocides market on account of its significant utilization in the paper & coating industry and slurries. As per a report by the National Library of Medicine (NLM), DBNPA is utilized as a vital biocide in water application owing to its quick chemical breakdown and immediate antimicrobial activity.

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals (% of Value Added in Manufacturing) – 2016-2018

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Oilfield Biocides Market Regional Synopsis

Regionally, the global oilfield biocides market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of the presence of multiple key companies and large consumer base, significant production of shale oil, and growing oil production activities in the region. For instance, in North America, the oil production in the year 2020 was valued at approximately 20 million barrels per day. Furthermore, a significant surge in gas activities in the region is also witnessed over the recent decades. Therefore, all these factors are projected to drive the growth of the market in the region over the forecast period. Furthermore, the market is also estimated to witness noteworthy growth in the Asia Pacific region on the back of growing demand of biocides in the oil & gas industry. Such factors are projected to propel the growth of the market in the region over the forecast period.

Oilfield Biocides Market Share

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The global oilfield biocides market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global oilfield biocides market includes the following segments:

By Type

  • THPS (Tetrakis Hydroxymethyl Phosphonium Sulfate)
  • TTPC (Tributyl Tetradecyl Phosphonium Chloride)
  • QAC (Quaternary Ammonium Compounds)
  • DBNPA (2-Dibromo-3-Nitrilopropionamide)
  • Others

By Application

  • Downstream
  • Midstream
  • Upstream

Growth Drivers

  • Growing Oil & Gas Industry
  • Rising Utilization of Hydraulic Technology for Oil Extraction
  • Increasing Demand for Petroleum-Based Products

Challenges

  • Convenient Access to Alternative Products in the Market

Top Featured Companies Dominating the Market

  • Evonik Industries AG
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Baker Hughes Company 
  • CES Energy Solutions Corp.
  • Albemarle Corporation
  • Zirax Limited
  • Flotek Industries, Inc.
  • Huntsman Corporation 
  • Chevron Phillips Chemical Company, LLC 
  • Gumpro Drilling Fluids Pvt. Ltd.
  • Big Oil Co.

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