Specialty Oilfield Chemicals Market by Type (Demulsifiers, Inhibitors & Scavengers, Rheology Modifiers, Friction Reducers, Specialty Biocides, Specialty Surfactants, Pour Point Depressants), Application, and Region – Global Forecast to 2025

Demulsifiers type to witness the highest growth during the forecast period.

On the basis of type, the global specialty oilfield chemicals market has been segmented into demulsifiers, inhibitors & scavengers, rheology modifiers, friction reducers, specialty biocides, specialty surfactants, pour point depressants and others. Demulsifiers segment is expected to lead the global specialty oilfield chemicals market during the forecast period, followed by inhibitors & scavengers. Demulsifiers find extensive applications in the separation of water and oil from the crude water-oil emulsions, thereby reducing the possibility of adulteration in the produced oil. Demulsifiers contribute immensely in increasing the export value of crude oil. These factors are expected to drive the specialty oilfield chemicals market in the demulsifiers segment.

Production is projected to be the largest application segment during the forecast period

Production is expected to lead the global specialty oilfield chemicals market during the forecast period, followed by well stimulation. Aging and mature oil fields, heavy oil, and offshore oil fields consume higher quantities of specialty chemicals. The rising demand for energy and the expected increase in crude oil production after the expected decrease in COVID-19 impact in the near future are the factors that are expected to drive the specialty oilfield chemicals market during the forecast period.

North America to account for the largest share of the global specialty oilfield chemicals market during the forecast period

North America is expected to account for the largest share in the global specialty oilfield chemicals market, followed by the Middle East & Africa, during the forecast period, in terms of both volume and value. The major driving factor for the market in these two regions is the presence of huge onshore and offshore reserves. The exploration of shale gas reserves in North America presents further growth opportunities for the specialty oilfield chemicals market. Offshore exploration & production is being carried out for a long time in the UAE, with projects, such as the Upper Zakum oilfield, contributing significant production volumes and containing nearly 50 billion barrels of economically viable reserves. The rise in number of exploration activities in these regions is expected to drive the specialty oilfield chemicals market.

Key Market Players

The key market players profiled in the report are BASF SE (Germany), Clariant (Switzerland), The Dow Chemical Company (US), Solvay (Belgium) Ecolab Inc. (US), Halliburton (US), Schlumberger Limited (US), Nouryon (Netherlands), Baker Hughes Incorporated (US), Kemira (Finland), Huntsman (US), Croda (UK), Albermarle (US). Chevron Philips Chemical Company (US), Innospec Inc. (US), National Oilwell Varco (US), Geo Specialty Chemicals (US), Kraton (US), Thermax (India), Oleon (Belgium), Ashland (US), PureChem Energy Services (Canada), Stepan Company (US), Elementis (US), among others.

BASF SE (Germany) is the largest player in the market. It is the world’s leading chemical company having the largest chemical site in Ludwigshafen, Germany. The company is maintaining its position in the market by developing innovative solutions according to customer requirements.  In 2019, it completed the merger of its paper wet-end and water chemical business with Solenis (US).  This merger has helped the company to expand its product portfolio and offer cost-effective solutions for customers in the oil & gas industry.

Ecolab Inc., through Nalco, sells a wide range of specialty oilfield chemicals. The company has a strong geographical presence and operates in more than 170 countries across North America, APAC, Europe, Latin America, and the Middle East & Africa. It has strengthened its specialty oilfield chemicals business through acquisitions. For instance, Ecolab Inc. acquired Champion Technologies (US) and Corsicana Technologies (US) for, approximately, USD 2.3 billion. Following the acquisition, Ecolab has formed a new business unit called Nalco Champion. The acquisition strengthened the company’s specialty oilfield chemicals business by opening up new oil & gas markets.