Oilfield Chemicals Market anticipated to surpass US$35 billion by 2030 at a CAGR of 3.10%.

The oilfield chemicals market is anticipated to grow at a CAGR of 3.10% from US$30 billion in 2025 to US$35 billion by 2030.

NOIDA, UTTAR PRADESH, INDIA, November 11, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the oilfield chemicals market is projected to grow at a CAGR of 3.10% between 2025 and 2030 to reach US$35 billion by 2030.

Oilfield chemicals are the types of chemical compounds, that are being used in the extraction process of various types of oils and gases from the oilfields. The use of oilfield chemicals in the production of crude oils or gases helps improve the productivity and efficiency of the oil drilling and refining process. There are various types of oilfield chemicals, like lubricants, clay controls, biocides, and rheology chemicals. Some chemicals, like the drilling fluids are used during the drilling operations, in oil fields, as they help in controlling the drill pressure, as well as removing drill cuttings. In the production of oils and gases, chemicals like corrosion inhibitors help in reducing corrosion.

The increase in global crude oil and natural gas production in the globe is forecasted to boost the oilfield chemical market in the world. The global crude oil production observed a significant increase of about 5.4% from 2021, in the year 2022. According to EnerData, oil production in the Middle East increased by about 13%, whereas the North American region also witnessed an increase in its oil production. The increase in the global oilfields is expected to boost the market demand for oilfield chemicals in the global market. With the increasing demand for crude oil and natural gases, various countries are investing to improve and boost the production of the same. For instance, in June 2024, India's ONGC and Indian Oil, partnered together to establish a new LNG plant, near the nation's Hatta Gas Field. The establishment of the new plant is sure to boost the oilfield chemicals demand in the nation. Similarly, in May 2024, BASF invested in the Tarragona plats, to expand the capacity of Basoflux, a type of paraffin inhibitor, that has a critical application in the oil and gas industry. These chemical helps to prevent the paraffin deposit in the oilfield.

Access sample report or view details: https://www.knowledge-sourcing.com/report/oilfield-chemicals-market

The oilfield chemicals market by type is segmented into corrosion inhibitors, biocides, surfactants, demulsifiers, and others. Under the application segment, demulsifier is projected to gain the highest market share in the oilfield chemical market. The demulsifiers are used in the crude oil production process to efficiently separate the oils from the water, which further helps to improve the oil purity. The demulsifiers are of two general types, oil-in-water and water-in-oil. These help to break the emulsions, which further separates the two.

The oilfield chemicals market by application is segmented into production, drilling, refining, stimulation, and others. Under the application segment of the oilfield chemical market, the production chemicals are estimated to attain a greater share among other categories. The production chemicals are used to increase the efficiency of the production of the oilfield. These chemicals also boost the performance, along with improving the safety, and efficiency of the oilfields. These chemicals also help to improve the quality of the oil and gas produced. There are various types of production chemicals, like demulsifiers, corrosion inhibitors, and biocides, among many others. The demulsifiers help in an efficient separation of oil and water, increasing the purity of the oils, whereas the corrosion inhibitors protect the equipment from corrosion wear. The biocides control the microorganism activity, which further increases the oil purity.

Based on geography, the oilfield chemicals market is expanding significantly in the Middle East and Africa region, as the region is one of the biggest producers and exporters of crude oil in the globe. Countries like UAE, Qatar, Saudi Arabia, and Bahrain, are among the biggest producers of crude oils in the global market, and the countries have a high volume of oilfields in the globe. The data published by EnerData observes that oil production in the Middle East observed an increase of about 13% in 2022, from 2021. The nation of Saudi Arabia witnessed the highest increase in its oil production in that year, with a growth of about 16%, followed by the UAE, which witnessed a growth of about 15% in the same year. Similarly, the nations in the Middle East and African region as also invested in the development of new oilfields, and new technologies, to boost the oil and gas production in the region. This increase in investment in the region is forecasted to propel the market for oilfield chemicals in the region forward.

The research includes several key players from the Talent management software market, such as Huntsman International LLC, Stepan Company, BASF SE, Halliburton, Ashland, Gulf Coast Chemical LLC, The Dow Chemical Company, Solvay, Kraton Corporation, Thermax Limited.

The market analytics report segments the oilfield chemicals market as follows:

• By Type

o Corrosion Inhibitor
o Biocides
o Surfactant
o Demulsifiers
o Others

• By Application

o Production
o Drilling
o Refining
o Stimulation
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• UK
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• China
• Japan
• India
• Indonesia
• Taiwan
• Thailand
• Others

Companies Profiled:

• Huntsman International LLC
• Stepan Company
• BASF SE
• Halliburton
• Ashland
• Gulf Coast Chemical LLC
• The Dow Chemical Company
• Solvay
• Kraton Corporation
• Thermax Limited

Explore More Reports:

• Drilling Fluids Market: https://www.knowledge-sourcing.com/report/drilling-fluids-market
• Digital Oilfield Market: https://www.knowledge-sourcing.com/report/digital-oilfield-market
• Specialty Oilfield Chemicals Market: https://www.knowledge-sourcing.com/report/specialty-oilfield-chemicals-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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