The Kuwait & Iraq Oilfield Chemicals market was valued at $552.2 million in 2019, and is projected to reach $706.1 million by 2027, growing at a CAGR of 3.8% from 2020 to 2027.
Oilfield chemicals are used in various stages of oil & gas exploration for the efficient operations. Various types of oilfield chemicals are used in oilfields to reduce the maintenance of the equipment and to improve efficiency of the processes. These chemicals are applicable in different stages of oil exploration and are an integral part of the oil & gas industry. They provide high performance, temperature stability, and inhibit contamination in the drilling fluid system. In the production division, these chemicals help separate oil from gas & water, enable consistent flow of oil from well, and enhance oil production.
The oilfield & other industrial chemicals market in Kuwait and Iraq are primarily driven by the factors such as increase in oil & gas exploration and production activities and rise in demand for advanced drilling fluids. However, stringent government regulations and variations in the crude oil prices are expected to restrain the market growth. Whereas, growing investment in the oil & gas exploration and production activities and emergence of eco-friendly oilfield chemicals are anticipated to provide lucrative growth opportunities for the key players to maintain the pace in the market.
The Kuwait & Iraq Oilfield Chemicals market is segmented into application and country. Depending on application, the market is classified into drilling, production, refining & processing, water treatment, and other industries. Drilling is further sub-segmented into stimulation, cementing, and drilling fluids. Drilling fluids is further sub-segmented into water based, oil based and synthetic based. Production segment is sub-classified into production and treatment facilities and enhanced oil recovery. Water treatment is divided into desalination, water treatment, and waste water treatment. Country wise, the oilfield & other industrial chemicals market is analyzed across the Kuwait and Iraq.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the Kuwait & Iraq Oilfield Chemicals market from 2019 to 2026 to determine the prevailing opportunities.
- A comprehensive oilfield & other industrial chemicals market analysis of the factors that drive and restrict the growth of the market is provided.
- Estimations and forecast are based on factors impacting the oilfield & other industrial chemicals market growth, in terms of both value and volume.
- Profiles of leading players operating in the market are provided to understand the regional competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
KEY MARKET SEGMENTS
- Refining & Processing
- Water Treatment
- Other Industries
Key Market Players
- Solvay SA
- BASF SE
- Baker Hughes Company
- Schlumberger Limited
- Croda International Plc
- Catalyst LLC
- Jereh Global Development LLC
- Al Sanea Chemical Products
- Chevron Corporation
- Petroleum Equipment Technology Corporation
The other players in the value chain include Al-Kout Industrial Projects K.P.S.C, Ahlia Industrial Projects, Delmon Group, Al-Burhan Group, GZTA, Imperial Oilfield Chemicals Pvt. Ltd., Jawar Al Khaleej Shipping LLC, and others.