Dublin, Feb. 23, 2024 (GLOBE NEWSWIRE) -- The "Oilfield Chemicals - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Oilfield Chemicals Market to Reach $44.6 Billion by 2030
The global market for Oilfield Chemicals estimated at US$28.9 Billion in the year 2022, is projected to reach a revised size of US$44.6 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2022-2030. Drilling Fluids, one of the segments analyzed in the report, is projected to record 6.7% CAGR and reach US$18.7 Billion by the end of the analysis period. Growth in the Stimulation Chemicals segment is estimated at 5.6% CAGR for the next 8-year period.
The report delves into the indispensable role of oilfield chemicals within the oil and gas industry, providing an introduction to various types such as drilling fluids, cementing chemicals, production chemicals, stimulation chemicals, completion and workover fluids, and EOR (Enhanced Oil Recovery) chemicals. It presents data on global liquid fuels production from 2018 to 2024, along with a breakdown of average production for OPEC and non-OPEC groups in 2022. Additionally, it offers insights into global oil production, including a percentage share breakdown by volume production for different countries in 2022.
The report discusses the predicted slowing global oil demand through the decade-end and evaluates the pandemic's impact on the global oilfield chemicals market, including specialty chemicals used in oilfield applications. Drilling fluids are highlighted as leading the global market, with a regional analysis provided to understand market dynamics across different geographies. The competitive landscape is explored, including the percentage market share of key competitors and their market presence categorized as strong, active, niche, or trivial.
Furthermore, recent market activity is outlined to provide readers with a comprehensive understanding of developments within the oilfield chemicals market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 589 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $28.9 Billion |
| Forecasted Market Value (USD) by 2030 | $44.6 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Need to Improve Productivity & Efficiency of Oilfields Fuels Demand for Oilfield Chemicals
- Need to Bring Petroleum Crude Oil Wells to Production Drives Demand for Oilfield Chemicals
- Global Oil & Gas Industry Dynamics to Influence Market Demand
- Increased Spending on Oil & Gas Industry to Support Demand for Oilfield Chemicals
- Drilling & Well Construction Activity to Post Strong Gains, Driving Demand for Oilfield Chemicals
- Changing Energy Mix Influences Market Trends
- Rising Demand for Natural Gas Bodes Well for Oilfield Chemicals Market
- Deep Water Drilling Offer New Growth Opportunities
- Deepwater Projects to Attract Increased Investment in 2022
- Drilling Fluids Gain from the Rise in Drilling Rates
- Water-Based Drilling Fluids Gain Significance Over Oil-Based Muds
- Horizontal Drilling Benefits Demand
- Increasing Emphasis on Shale Gas Production Drives the Demand for Production Chemicals
- Rise in Petrochemical Production to Spur Growth in the Production Chemicals Market
- Aging Wells Trigger the Demand for Production Chemicals
- Stimulation Chemicals: A High Potential Segment
- New and Emerging Shale Plays to Propel Demand for Stimulation Chemicals
- Newer Fluids & Proppants to Gain Traction
- Need to Increase Oil Production Enhances Importance of EOR Chemicals in Unlocking Potential of Unrecoverable Oil Reserves
- Rise in Number of Mature Oil Fields Augurs Well for the EOR Chemicals Market
- Rising Prominence of Hybrid Materials in Chemical EOR Methods
- Microbial Enhanced Oil Recovery: An Eco-Friendly Alternative to Petro-based EOR Chemicals
- MEOR Technology Developments in China: An Overview
- Companies Focus on Innovative Chemicals to Maximize Oil Recovery
- Increased Focus on Crude Oil-to-Chemicals Technologies among Refiners
- Nanotechnology Makes Inroads into Oilfield Chemicals Space
- Nanotechnology Finds Application in Cementing
- Smart Fluids Assume a Greater Role
- Stringent Regulations Encourage Development of Eco-Friendly Chemicals
- Downhole Chemical Solutions' DriFlowT Dry Polymer Unit: An Innovative Chemical Delivery Method
- Specialty Oilfield Chemicals - Market Overview
- Automation Tops the Priority List of Oilfield Chemical Companies but Challenges Remain
- Tremendous Benefits of Custom Oilfield Chemical Manufacturing Augurs Well for the Market
- Environmental Implications of Oilfield Chemicals
- Oil & Gas Companies Trying to Overcome Challenges with Chemical Management
FOCUS ON SELECT PLAYERS(Total 143 Featured)
- Akzo Nobel NV
- Albemarle Corp.
- Baker Hughes
- Elementis Plc
- Halliburton Company
- NALCO Champion
- Newpark Resources, Inc.
- Schlumberger Limited
- Schlumberger Limited (M-I SWACO)
- Solvay SA
- The Lubrizol Corporation
For more information about this report visit https://www.researchandmarkets.com/r/7iiud4
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