Europe Oil Field Specialty Chemicals Market, By Type (Surfactants, Demulsifiers, Inhibitors, Biocides, Additives, Acids, Deformers, Polymers, Friction Reducers, Emulsifiers, Iron Control Agents, Dispersants, Viscosifiers, Wetting Agents, Retarders and Others), Location (Onshore and Offshore), Application (Drilling, Stimulation, Production, Enhanced Oil Recovery (EOR), Cementing, Workover & Completion and Others), Country (Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe), Industry Trends and Forecast to 2028.
Market Analysis and Insights: Europe Oil Field Specialty Chemicals Market
Europe oil field specialty chemicals market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 4.2% in the forecast period of 2021 to 2028 and expected to reach USD 643,751.87 thousand by 2028.
The oil field specialty chemicals are those chemicals which are commonly used in the recovery of oil efficiently from the resources with impacting the environment and equipment. Oil field specialty chemicals have several positive functions such as improved oil recovery, drilling optimization, corrosion protection, prevent mud loss in different geological formations, and stabilize drilling fluid in high pressure and high temperature environment and others.
It is essential to separate the oil from the water to purify it and reduce the corrosion of the pipelines and containers ferrying the oil, which can only be done through the oil field specialty chemicals. Demulsifiers are the type of oil field specialty chemicals that can be used for this purpose in the oil field. Demulsifiers work by causing changes in the density of the oil, causing easier separation of the two chemicals while at the same time reducing the corrosion of the pipelines, which might lead to higher maintenance costs of equipment.
This oil field specialty chemicals market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Oil Field Specialty Chemicals Market Scope and Market Size
Europe oil field specialty chemicals market is segmented of the categorized into type, location and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the oil field specialty chemicals market is segmented into surfactants, demulsifiers, inhibitors, biocides, additives, acids, deformers, polymers, friction reducers, emulsifiers, iron control agents, dispersants, viscosifiers, wetting agents, retarders and others. In 2021, the demand for the surfactants segment is more in China and India due to increasing demand for the petroleum products for running of automotive product.
- On the basis of location, the oil field specialty chemicals market is segmented into onshore and offshore. In 2021, onshore location segment is expected to dominate as large piping systems have been employed in the plant which increases the demand for the oil field specialty chemicals in the region.
- On the basis of application, the oil field specialty chemicals market is segmented into drilling, stimulation, production, enhanced oil recovery (EOR), cementing, workover & completion and others. In 2021, growing crude demand has been prompting exploration & production companies for drilling which makes drilling segment to dominate in the region.
Europe Oil Field Specialty Chemicals Market Country Level Analysis
Europe oil field specialty chemicals market is analysed and market size information is provided by country, type, location and application.
The countries covered in Europe oil field specialty chemicals market report are Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Luxemburg and Rest of Europe.
- In the European region, Germany is dominating due to more exploration of new reservoirs which increases the drilling activities in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rise in the Demand for Petroleum in Automotive Industry
Oil field specialty chemicals market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in oil field specialty chemicals market and changes in regulatory scenarios with their support for the oil field specialty chemicals market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Oil Field Specialty Chemicals Market Share Analysis
Europe oil field specialty chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Europe oil field specialty chemicals market.
The major market players engaged in the oil field specialty chemicals market are BASF SE, Solvay, DOW, Baker Hughes Company, Clariant, Evonik Industries AG, Kemira, Thermax Limited, Huntsman International LLC, Zirax, Innospec, Stepan Company, Chevron Phillips Chemical Company LLC., Kraton Corporation, Jiaxing Midas Oilfield Chemical Mfg Co., Ltd, Versalis S.p.A., Halliburton, and Albemarle Corporation among others.
Many expansions are also initiated by the companies worldwide which are also accelerating the growth of oil field specialty chemicals.
For instance,
- In July 2021, Dow has decided to launch several capacity expansion projects which increases the production of chemical products. This development helps the company to increase revenue
- In November 2019, Solvay decided to signs agreement with Baker Hughes to expand use of composite materials in oil and gas pipes. The products are used in ultra-deep waters pipes. This development helped the company to increase revenue in near future
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market players is enhancing the company market in the oil field specialty chemicals market which also provides the benefit for organization to improve their offering for oil field specialty chemicals.
SKU-