Global Production Chemical Market, By Type (Demulsifiers, Scale Inhibitors, Corrosion Inhibitors, Asphaltene Inhibitors, Biocides, Scavengers, Surfactants, Others), Oilfield Type (Onshore, Offshore), Application (Cementing, Production Chemicals, Drilling Fluids, Improved Oil Recovery, Well Stimulation, Work Over and Achievements) – Industry Trends and Forecast to 2029
Market Analysis and Size
The demand for production chemicals is increasing in enhanced oil recovery applications as EOR activities expand globally to boost crude oil production from mature or declining reserves. The recent boom in North America's shale oil and gas industry is driving demand for production chemicals. As a result, owing to the enormous potential offered by these drivers, the market is expected to grow significantly.
Global Production Chemical Market was valued at USD 6.57 billion in 2021 and is expected to reach USD 10.16 billion by 2029, registering a CAGR of 5.59% during the forecast period of 2022-2029. The “offshore” segment accounted for a sizable portion of the production chemicals market due to their microbial attack inhibition capabilities. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Production chemicals are used to improve hydrocarbon recovery from wells. They are primarily used in oilfield operations to improve production maintenance and transportation, as well as reserve recovery. These chemicals are used in production to achieve peak performance and increase the efficiency of oil recovery.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Demulsifiers, Scale Inhibitors, Corrosion Inhibitors, Asphaltene Inhibitors, Biocides, Scavengers, Surfactants, Others), Oilfield Type (Onshore, Offshore), Application (Cementing, Production Chemicals, Drilling Fluids, Improved Oil Recovery, Well Stimulation, Work Over and Achievements)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Secure Energy (Canada), Halliburton (U.S.), Exterran Corporation(U.S.), Chevron Phillips Chemical Company( LLC (U.S.), Clariant (Switzerland), Croda International plc (UK), RCS Group of Companies(Canada), Schlumberger Limited (U.S.), Baker Hughes Company (U.S.), Shell (Netherlands), BP Plc (UK), BASF SE(Germany), Linde Plc (Ireland), Air Liquide (France), TechnipFMC plc (UK), ChampionX (U.S.), Suncor Energy Inc.(Canada), Ultimate EOR Services LLC (U.S.), Titan Oil Recovery, Inc., (U.S.), XYTEL Corporation (U.S.), Premier Energy(U.S.), Audubon Companies (U.S.), Kappa Oil Services (France) and Core Laboratories(Netherlands)
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Market Opportunities
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Production Chemical Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand Across End-Users
The increased consumption of oilfield production chemicals in crude oil storage and transportation, production processes, expanding drilling activities, and pursuing production from ageing fields are expected to drive sales during the forecast period. Moreover, surging oil production also boosts the market growth.
The rising production of crude oil across the globe and will further propel the growth rate of production chemical market. Additionally, the increasing need of highly advanced drilling fluids, extraction of oils from technologically challenging hydrocarbon geologies and necessity of better extraction will also drive market value growth. The growing number of service providers along with prevalence of ecological oilfield chemicals are estimated to carve a way for the growth of the market.
Opportunities
- Development and Enhancement
Furthermore, the growing development as well as production form established fields extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the enhancement of ultra-deep water drilling projects will further expand the future growth of the production chemical market.
Restraints/Challenges
- Fluctuating Raw Material Prices
The fluctuating rates of prices of crude oil in the global market will create hindrances for the growth of the production chemical market.
- Surging Environmental Concerns
Also, the rising environmental concerns and related government regulations aimed at protecting crude oil and other natural resources around the world may also impede the overall growth of the production chemicals market during the forecast period, which is anticipated to challenge the production chemical market growth rate.
This production chemical market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the production chemical market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Production Chemical Market
The recent outbreak of coronavirus had a negative impact on the production chemical market as the prevalence of COVID-19 has resulted in lower utilization rates of refineries all over the world, resulting in supply shortages for a variety of end-use sectors. Moreover, various disruptions in across the manufacturing as well as the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease resulted in huge financial setback for the market, which largely hampered the market's revenue trajectory.
On a different note, the health crisis has resulted in an unexpected surge in demand for olefins, which are used in the formulation of sanitizers and other cleaning products.
Global Production Chemical Market Scope
The production chemical market is segmented on the basis of type, oilfield type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Demulsifiers
- Scale Inhibitors
- Corrosion Inhibitors
- Asphaltene Inhibitors
- Biocides
- Scavengers
- Surfactants
- Others
Oilfield Type
- Onshore
- Offshore
Application
- Cementing
- Production Chemicals
- Drilling Fluids
- Improved Oil Recovery
- Well Stimulation
- Work Over and Achievements
Production Chemical Market Regional Analysis/Insights
The production chemical market is analyzed and market size insights and trends are provided by country, type, oilfield type and application as referenced above.
The countries covered in the production chemical market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the production chemical market because of the increasing production as well as exports within the region.
Asia-Pacific on the other hand, is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the rising number of oilfields within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Production Chemical Market Share Analysis
The production chemical 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to production chemical market.
Some of the major players operating in the production chemical market are
- Secure Energy (Canada)
- Halliburton (U.S.)
- Exterran Corporation (U.S.)
- Chevron Phillips Chemical Company (LLC (U.S.)
- Clariant (Switzerland)
- Croda International plc (UK)
- RCS Group of Companies (Canada)
- Schlumberger Limited (U.S.)
- Baker Hughes Company (U.S.)
- Shell (Netherlands)
- BP Plc (UK)
- BASF SE (Germany)
- Linde Plc (Ireland)
- Air Liquide (France)
- TechnipFMC plc (UK)
- ChampionX (U.S.)
- Suncor Energy Inc. (Canada)
- Ultimate EOR Services LLC (U.S.)
- Titan Oil Recovery, Inc., (U.S.)
- XYTEL Corporation (U.S.)
- Premier Energy (U.S.)
- Audubon Companies (U.S.)
- Kappa Oil Services (France)
- Core Laboratories (Netherlands)
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