Oilfield Production Chemicals Market Revenue, Major Players, Consumer Trends, Analysis & Forecast Till 2028

The global Oilfield Production Chemicals Market is expected to reach USD 32.30 Billion by 2028, according to a new report by Reports and Data. Over the past few years, the global energy landscape has changed significantly as a result of technological advances in the recovery of unconventional hydrocarbon resources such as tight oil and shale gas. A number of researches have been established to examine the impacts of extraction and production of unconventional hydrocarbons on surface water, groundwater, and local air quality. The extraction and utilization of such unconventional hydrocarbons poses concerns about their contribution to the atmospheric chemistry and global climate change. Nevertheless, their application in operations including drilling, production, cementing and work over and completion is expected to drive the demand for Oilfield Production Chemicals.

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Key participants include: BASF SE (Germany), Lubrizol Corporation (U.S.), AkzoNobel N.V. (Netherlands), The Dow Chemical Company (U.S.), Schlumberger (U.S.), Halliburton (U.S.), Kemira Oyj (Finland) and Clariant (Switzerland), Nalco (U.S.) and Baker Hughes Incorporated.(U.S.)

Asia Pacific is expected to register fastest revenue CAGR between 2021 and 2028. Rapid revenue growth is attributed to factors such as increasing investments in research and development activities, rapidly growing industrial sector and building and construction sector and high demand for raw material across various sectors.

Further key findings from the report suggest

Mexico will witness significant rise valued at USD 1.6 Billion in 2023. The global oil demand is growing robustly, particularly in India and China. Furthermore, it is expected that oil demand in emerging markets will continue to grow at a remarkable rate. Additionally, the notable growth of shale gas has not only changed the energy landscape in the US, but also in the world such as competing with coal in electricity generation, and redirecting of recent growth in liquefied natural gas (LNG) supply to Europe and Asia.
In 2015, global offshore oil production which included lease condensate and hydrocarbon gas liquids from deep-water projects reached 9.3 million barrels per day. The deep water production has increased 25% from nearly 7 million b/d a decade ago.
The advancements in drilling technology, dynamic positioning equipment, and floating production and drilling units have made the prospects feasible that were previously unreachable. This is one of the main aspects which is triggering the growth of the oilfield chemical market. Nevertheless, deep-water projects require more investment and time compared to shallow waters or onshore developments.

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For the purpose of this report, Reports and Data has segmented the global Oilfield Production Chemicals market basis of Product, Location, Applications and Region:

Product (Revenue, USD Million; 2018–2028)

Inhibitors
Demulsifiers
Rheology Modifiers
Friction Reducers
Biocides,
Surfactants
Foamers
Others

Location (Revenue, USD Million; 2018–2028)

Onshore
Offshore

Applications (Revenue, USD Million; 2018–2028)

Drilling Cementing
Enhanced Oil Recovery
Production
Well Stimulation
Workover Completion

Regional (Revenue, USD Million; 2018–2028)

North America
Europe
Asia Pacific
Middle East Africa
Latin America

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