Saudi Arabia oilfield chemicals market is estimated to stand at around $ 710 million in 2020 and is forecast to grow at around 10% to reach $ 1.1 billion by 2025. Anticipated growth in the market is driven by the growing demand for oil & gas across the globe and increasing investments in offshore exploration and production activities in Saudi Arabia, which makes the country the largest market for oilfield chemicals in the Middle East region. The market is likely to witness healthy growth in the coming years as the country aggressively expands oil and gas exploration activities to establish oil-market supremacy over the United States, Iran and Russia. In April 2020, SABIC announced plans to boost production to 12.3 million barrels a day with increase of 2.5% from maximum sustained capacity.
Saudi Arabia Oilfield Chemicals is segmented based on type, application, oilfield type, and region. Based on type, the market can be segmented into Special Oil Field Chemicals and Commodity Oil Field Chemicals, with the former category hold majority of the market share in 2019. Based on application, the market can be segmented into Enhanced Oil Recovery, Stimulation, Cementing, Completion Production, Drilling, and Others. Drilling application segment is expected to continue holding the largest share during the forecast period because of increase in E&P activities and investments in Saudi Arabia.
Regionally, Saudi Arabia oilfield chemicals market has been segmented into Eastern region, Central region and Rest of the Saudi Arabia, Eastern region is expected to hold the lion’s share throughout the forecast period owing to the large oil field reserves in the region. Major players operating in the Saudi Arabia oilfield chemicals market include Baker Hughes, M-I SWACO, ChampionX Corporation, The Dow Chemical Company, AUBIN Group, Clariant Altamimi Company Limited, REDA Oilfield, BASF SE, CECA Arkema, among others.
Years considered for this report:
- Historical Years: 2015 - 2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021 - 2025
Objective of the Study:
- To analyze and estimate the market size of Saudi Arabia oilfield chemicals market from 2015 to 2019.
- To estimate and forecast the market size of Saudi Arabia oilfield chemicals market from 2020 to 2025.
- To classify and forecast Saudi Arabia oilfield chemicals market based on type, application, oilfield type, company and regional distribution.
- To identify dominant region or segment in the Saudi Arabia oilfield chemicals market.
- To identify drivers and challenges for Saudi Arabia oilfield chemicals market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia oilfield chemicals market.
- To identify and analyze the profile of leading players operating in Saudi Arabia oilfield chemicals market.
- To identify key sustainable strategies adopted by market players in Saudi Arabia oilfield chemicals market.
Key Target Audience:
- Saudi Arabia oilfield chemicals players, suppliers and other stakeholders
- Exploration & Production companies
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to oilfield chemicals market
- Market research and consulting firms
Market, By Oilfield Type:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia oilfield chemicals market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Enhanced Oil Recovery
- Completion Production
- Commodity Oil Field Chemicals
- Special Oil Field Chemicals
- Eastern Region
- Central Region
- Rest of the Saudi Arabia
- Competitive Landscape