According to the current analysis of Reports and Data, the global Oilfield Stimulation 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 Oilfield Stimulation 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 centers 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 Oilfield Stimulation Chemicals.
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Oilfield Stimulation Chemicals Industry Overview
The global materials chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food beverage industries, buildings construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.
Top Companies Profiled in the Report:
BASF SE, Solvay, Akzo Nobel NV, Huntsman International LLC, Thermax Global, Sadara, Global Drilling Fluids Chemicals Limited, Roemex Limited, Schlumberger, Ashland Inc.
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
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