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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
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
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 and Extensive Use of Petroleum Derived Products in Cosmetics and Health Care Products is Also Pushing the Demand for Petroleum
Challenges:
Help Contain or Limit the Impact of Hydrocarbon Extraction on Environment, Minimizing Waste Discharge and High Drum Disposal Rates, thus Cutting into the Margins of Speciality Oilfield Chemicals Manufacturers and Suppliers
Restraints:
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 and Stringent Govt. Regulations Due to Enhanced Focus on Climate Change and Industries which Negatively Affect Climate
Opportunities:
The Exploration of Shale Oil and Gas in North America and The Oil Reserves Found in Black Sea and South China Sea
Competitive Landscape:
Some of the key players profiled in the report 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). Additionally, following companies can also be profiled that are part of our coverage like Evonik Industries AG (Germany), Stepan Company (United States) and Sadara (Saudi Arabia). Analyst at AMA Research see United States Vendors to retain maximum share of Global Specialty Oilfield Chemicals market by 2030. Considering Market by Sales Channels, the sub-segment i.e. Direct Channel will boost the Specialty Oilfield Chemicals market.
Latest Market Insights:
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.
What Can be Explored with the Specialty Oilfield Chemicals Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Specialty Oilfield Chemicals Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Specialty Oilfield Chemicals
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Specialty Oilfield Chemicals market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Specialty Oilfield Chemicals market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Speciality Oilfield Chemicals Manufacturers, Suppliers and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory Bodies, End-Use Industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.