The global oilfield chemicals market reached a value of US$ 21.91 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 29.39 Billion by 2027, exhibiting a CAGR of 4.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Oilfield chemicals refer to chemical compounds that are a sub-category of specialty chemicals constituting petroleum sulfonate, Fe-Cr lignosulfonate, anionic polyacrylamide, and xanthan gum. Designed to improve the efficiency and efficacy of various on-site oilfield activities, they are extensively used in production, drilling, completion, extraction, and refining applications. These chemicals minimize the amount of water injected into oil wells during exploration and drilling to prevent the production of metal scales. Thus, they help maintain a smooth-running oilfield at lower costs due to minimal stoppages or delays during the drilling process. Some of the different types of oilfield chemicals include biocides, demulsifiers, polymers, corrosion and scale inhibitors, and surfactants. As a result, these chemicals are extensively used in drilling and cementing, well stimulation, and enhanced oil recovery.

Oilfield Chemicals Market Trends:
The market is primarily driven by the rising demand for petroleum and petroleum-based fuels in the automotive industry. This demand is further supported by the widespread adoption of shale gas in numerous industry verticals, thereby providing an overall boost to the market. In line with this, a considerable rise in oil production and exploration operations in deep-water drilling operations is providing an impetus to the market growth. Apart from this, the growing demand for energy across the world, coupled with the significant increase in crude oil production, is propelling the growth of the specialty oilfield chemical market. Other factors, such as the rising global population, extensive research and development (R&D) activities conducted by numerous key players and the increasing investments by the governments of several countries to improve the overall oil and gas infrastructure, are also contributing to the market growth across the globe.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global oilfield chemicals market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, location and application.

Breakup by Product:

Inhibitors
Demulsifiers
Rheology Modifiers
Friction Reducers
Biocides
Surfactants
Foamers
Others

Breakup by Location:

Onshore
Offshore

Breakup by Application:

Drilling Fluid
Production Chemicals
Cementing
Workover and Completion

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, Ashland, Baker Hughes Company, BASF SE, CES Energy Solutions Corp., ChampionX Corporation, Chevron Phillips Chemical Company, Clariant AG, Halliburton, Huntsman International LLC, Kemira Oyj, Stepan Company, The Dow Chemical Company and The Lubrizol Corporation.

Key questions answered in this report:
How has the global oilfield chemicals market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global oilfield chemicals market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the location?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global oilfield chemicals market and who are the key players?
What is the degree of competition in the industry?