High demand for energy production, expansive growth of oil and gas industry, and extensive drilling and deep-drilling applications are key factors contributing to the steady CAGR of Specialty Oilfield Chemicals during the forecast period.

New York, NY -- (SBWire) -- 04/28/2021 --The global Specialty Oilfield Chemicals Market was valued at USD 10.98 Billion in 2020 and is expected to reach USD 14.95 Billion by 2028, at a CAGR of 3.90%. These chemicals have many dynamic applications and find extensive use in the oil and gas industry. The growth in oil drilling and extensive demand and production of crude oil are major reasons behind the flourishing state of specialty oilfield chemicals. Most chemicals under the specialty oilfield type are employed for specific purposes throughout the production lifecycle of an oilfield chemical. Those that can solve more than one purpose are usually preferred, like surfactant chemicals.

An increasing trend for supply centres shifting is observed due to the arrival of shale gas in the US as compared to the coals or olefins from China. The key raw materials for oilfield chemicals are getting scarce. The regulatory requirements are exponentially increasing as the environmental impact of the emissions and waste become more and more harmful. Another major factor that will hamper the growth of the market over the forecasted period is the shift of the consumers towards sustainable products which completely avoids the use of plastics as well as other specialty oilfield chemicals.

This industry faces hurdles and upheavals due to the unstable prices of crude oil and the ongoing geopolitical issues in some parts of the world. These form serious threats that can hamper the overall global market growth.

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Further key findings from the report suggest-

Increasing application of specialty oilfield chemicals in drilling fluid activities and production chemicals is increasing their demand in several world markets. The ultra-deep drilling activities are also providing several opportunities for these chemicals.
Oil recovery increases the oil production efficiency while exploiting infrastructure efficiently. The surging need for sufficient oil extraction is likely to push the demand of the market in future.
Most of the specialty oilfield chemicals in use today are of synthetic origin. Synthetic chemicals are preferred owing to lower prices, steady availability and customizability. This trend is expected to continue over the forecast period as the natural based chemicals are costlier and subject to seasonal availability.

Demulsifiers held the largest share under the product segmentation for Specialty Oilfield Chemicals. This share is expected to grow at a CAGR of 4.7% during the period of forecast because of heavy application.
Drilling activities are expanding fast under the application segmentation of the global market are expected to register a CAGR of 4.7% during the forecast period.
Corrosion and scale inhibitors are a popular product category under specialty oilfield chemicals which is finding greater use in several product applications. Its share in the product market will grow at a CAGR of 4.4% during the forecast period.

The Middle East region is facing an increasing demand from petro-refineries and oil-based power plants. This in turn is driving demand for specialty oilfield chemicals in this region.
Saudi Arabia, Kuwait and Iran are the main drivers of market growth in the Middle East. They are the major oil-producing nations and face an insane demand from their consumer base, thus requiring specialty oilfield chemicals for their operational purposes.
Asia Pacific is expected to witness the fastest growth over the forecast time frame on account of increasing government spending in China to meet energy demands. Countries like India and Malaysia are also important contributors to the market.
Latin American region is exploiting lower factor costs and lenient worker health and environment regulatory norms to increase its share in the specialty oilfield chemicals market.
Key market players include BASF SE, Solvay, Akzo Nobel NV, Huntsman International LLC, Thermax Global, Sadara, Global Drilling Fluids & Chemicals Limited, Roemex Limited, Schlumberger, Ashland Inc.

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For the purpose of this study, Reports and Data have segmented the Specialty Oilfield Chemicals market on the basis of product, application, and region:

Product (Revenue, USD Million; 2018–2028)

Demulsifier
Deoiler
Biocide
Fluid Loss Additive
Corrosion and Scale Inhibitors
Clay Stabilizer
Pour Point Depressant
Others

Application (Revenue, USD Million; 2018–2028)

Drilling
Cementing
Production
Enhanced Oil Recovery
Well Stimulation

Regional Outlook (Revenue in USD Billion; 2017–2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

TOC -
Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020 – 2028

Chapter 3. Indicative Metrics

    3.1. High demand for energy production

    3.2. Increasing demand in the oil and gas industry

Chapter 4. Specialty Oilfield Chemicals Segmentation & Impact Analysis

    4.1. Specialty Oilfield Chemicals Segmentation Analysis

    4.2. Specialty Oilfield Chemicals Market Value Chain Analysis, 2018 – 2028

………….

Chapter 8. Competitive Landscape

    8.1. Market Revenue Share by Manufacturers

    8.2. Manufacturing Cost Breakdown Analysis

    8.3. Mergers & Acquisitions

    8.4. Strategy Benchmarking

    8.5. Vendor Landscape

Chapter 9. Company Profiles

    9.1. BASF SE

          9.1.1. Company Overview

          9.1.2. Financial Performance

          9.1.3. Product Length Benchmarking

          9.1.4. Strategic Initiatives

    9.2. Solvay

          9.2.1. Company Overview

          9.2.2. Financial Performance

          9.2.3. Product Length Benchmarking

          9.2.4. Strategic Initiatives

    9.3. Akzo Nobel NV

          9.3.1. Company Overview

          9.3.2. Financial Performance

          9.3.3. Product Length Benchmarking

          9.3.4. Strategic Initiatives

    9.4. Huntsman International LLC

          9.4.1. Company Overview

          9.4.2. Financial Performance

          9.4.3. Product Length Benchmarking

          9.4.4. Strategic Initiatives

    9.5. Thermax Global

          9.5.1. Company Overview

          9.5.2. Financial Performance

          9.5.3. Product Length Benchmarking

          9.5.4. Strategic Initiatives

Continued……….

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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Specialty Oilfield Chemicals market and its competitive landscape.

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