The increasing oil production activities across the globe has largely aided the market growth for the oilfield stimulation chemicals. The Canadian Association of Petroleum Producers (CAPP) projects that investments in conventional oil and gas production and oil sands operations would nearly double between 2020 and 2021, from US$19 billion (C$24 billion) to US$21 billion (C$27 billion). Oil production relies heavily on oilfield stimulation chemicals, hence the industry is anticipated to expand steadily over the next few years.
Global oilfield stimulation chemicals market was valued at USD 3.18 billion in 2021 and is expected to reach USD 7.17 billion by 2029, registering a CAGR of 10.70% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Recent Development
- In June 2021, KBC, a fully-owned subsidiary of Yokogawa Electric Corporation, will use the artificial intelligence (AI) technology of the BakerHughesC3.ai alliance to improve its current software portfolio for oil and gas process simulation, supply chain optimization, and energy management, according to a June 2021 announcement from Baker Hughes and C3 AI.
Some of the Top companies Of Oilfield Stimulation Chemicals in this Market include:
BASF SE (Germany), Clariant (Switzerland), Dow (U.S.), Solvay (Belgium) Ecolab Inc. (U.S.), Halliburton (U.S.), Schlumberger Limited (U.S.), Nouryon (Netherlands), Baker Hughes Company (U.S.), Kemira (Finland), Huntsman International LLC., (U.S.), Croda International plc (UK), Albermarle Corporation (U.S.). Chevron Philips Chemical Company LLC (U.S.), Innospec Inc. (U.S.), NOV Inc., (U.S.), Geo Specialty Chemicals (U.S.), Kraton Corporation (U.S.), Thermax Limited (India), Oleon (Belgium), Ashland (U.S.), PureChem Services (Canada), Stepan Company (U.S.) and Elementis PLC (U.S.)
Global Oilfield Stimulation Chemicals Market Segmentation:
The Oilfield Stimulation Chemicals market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Gelling Agents
- Friction Reducers
- Surfactants
- Corrosion and Scale Inhibitors
- Acids
- Others
Application
- Hydraulic Fracturing
- Matrix Acidization
- Acid Fracking
- Others
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Oilfield Stimulation Chemicals Market Regional Analysis/Insights
The oilfield stimulation chemicals market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the oilfield stimulation chemicals market report are UU.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the growing consumption of these chemicals within the region.
Asia-Pacific on the other hand is estimated to show lucrative growth over the forecast period of 2022-2029, due to the large oil consumption and production and massive investment in oil extraction market in the region.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
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