Global Specialty Oilfield Chemicals Market Overview:
Specialty Oilfield Chemicals are a set of chemicals that are widely used in Oil and Gas industry. These chemicals are taken help of in carrying out various crude oil extraction processes such as Drilling, production, well cementing, and stimulation. They are even used to protect the machinery from tear due to extensive pressure and friction put on them. With the massive size and growth of Oil and Gas industry, this supporting specialist oilfield chemicals industry is also expected to grow along with it. Some of the players profiled in the study are BASF SE (Germany), Huntsman Corporation (United States), Chevron Phillips Chemical Company, LLC (United States), Thermax Global (India), Ineo Group Ltd (United Kingdom), SMC Global (United States), Clariant AG (Switzerland), Solvay (Belgium), Nouryon (Netherlands) and Schlumberger Ltd. (United States).
On the basis of geography, the market of Specialty Oilfield Chemicals has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channels, the sub-segment i.e. Direct Channel will boost the Specialty Oilfield Chemicals market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Rapid Industrialization Drives the Oil and Petrol Production
- The rise in the Demand for the Automobiles will also Lead to Rising in Demand for Petroleum
- Extensive Use of Petroleum Derived Products in Cosmetics and Health Care Products is Also Pushing the Demand for Petroleum
- With the Increasing Investments on Offshore Oil Rigs, Demulsifiers is Expected to Continue to be the Dominant Most Speciality Chemical Due to its Property which Prevents Water-Oil Emulsions or Separates Oil and Water
- With the Pandemic, Global Oil and Gas Demand Went Drastically Low as the Majority of Factories and Auto Mobiles were Forced to shut down in Lockdowns around the World. This Also Negatively Impacted the Speciality Oilfield Chemicals Market
- The Emergence of Electric Automobiles and Electricity as a Substitute of Hydrocarbons for Energy Needs
- Stringent Govt. Regulations Due to Enhanced Focus on Climate Change and Industries which Negatively Affect Climate
- The Exploration of Shale Oil and Gas in North America
- The Oil Reserves Found in Black Sea and South China Sea
- Help Contain or Limit the Impact of Hydrocarbon Extraction on Environment
- Minimizing Waste Discharge
- High Drum Disposal Rates, thus Cutting into the Margins of Speciality Oilfield Chemicals Manufacturers and Suppliers
Key Market Developments:
In 2021, Huntsman Corporation, the market leader in specialty chemicals from North America announced the completion of the acquisition of Gabriel Performance Products. Which is a North America-based specialty chemicals manufacturer with an enhanced focus on coatings, adhesives and sealants. The acquisition will help Huntsman expand its portfolio and capacity in specialty chemicals as well as complement its other recent acquisition of CVC Thermoset Specialties.
In 2020, British Petroleum or BP, one of the major Oil and Gas companies in the world, had announced that it has sold its petrochemical business to INEOS Group, a British multinational leader in chemical production. With this acquisition, INEOS groups look to expand its portfolio of specialty chemicals and BP looks to clean the under pressure balance sheet of the Oil and Gas giant.
Speciality Oilfield Chemicals Manufacturers, Suppliers and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory Bodies, End-Use Industries and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Specialty Oilfield Chemicals market on the basis of product [Inhibitors and Scavengers, Specialty Surfactants, Pour Point Depressants, Rheology Modifiers, Demulsifiers, Friction Reducers and Others] , application [Cementing, Drilling, Well Stimulation, Oil and Gas Production and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Specialty Oilfield Chemicals market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Specialty Oilfield Chemicals industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Evonik Industries AG (Germany), Stepan Company (United States) and Sadara (Saudi Arabia).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Specialty Oilfield Chemicals market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.