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2023

Asia, Middle East, And Africa Oilfield Chemicals Market

Asia, Middle East, and Africa Oilfield Chemicals Market By Type (Production Chemicals, Integrity Chemicals): Regional Opportunity Analysis And Industry Forecast, 2023-2032

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Author's: Arpita Kumari | Eswara Prasad
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Asia, Middle East, and Africa Oilfield Chemicals Market  Outloo-2032

The Asia, Middle East, and Africa oilfield chemicals market size was valued at $18.3 billion in 2022 and is estimated to reach $27.3 billion by 2032, exhibiting a CAGR of 4.3% from 2023 to 2032.

Statement for COVID-19 banner: Rising demand for oilfield chemicals in diverse petroleum operations including drilling, production, well stimulation, cementing, enhanced oil recovery, and hydraulic fracturing is predicted to propel the market in coming years.

Report Key Highlighters:

  • The Asia, Middle East, and Africa oilfield chemicals market is highly fragmented, with several players including Dorf Ketal, BAKER HUGHES COMPANY, Croda International Plc, ChampionX, Multichem, MI Swaco, Solvay, Stepan, The Lubrizol Corporation, Clariant, Nouryon, and DYNEA.
  • More than 6,000 product literatures, industry releases, annual reports, and other such documents of key industry participants along with authentic industry journals and government websites have been reviewed for generating high-value industry insights.
  • The study covers more than 20 countries and fourth-level segmentation. The segment analysis of each country in terms of value and volume during the forecast period 2022-2032 is covered in the Asia, Middle East, and Africa oilfield chemicals market report.

Asia,-Middle-East,-and-Africa-Oilfield-Chemicals-Market.jpg

Oilfield chemicals are specialized chemicals used in the exploration, production, and refining of oil and gas. These chemicals play a crucial role in various processes within the oil & gas industry, including drilling, well stimulation, production, transportation, and refining. They help to improve operational efficiency, enhance production rates, protect equipment, and maintain the quality of oil & gas. Furthermore, these chemicals help to achieve optimum performance, enhance the effectiveness of the oil recovery, facilitate temperature stability, and inhibit contamination in the drilling fluid system. In the production division, these chemicals help to separate oil from gas & water, enable consistent flow of oil from well, and enhance oil production.

Furthermore, oilfield chemicals offer several advantages; for instance, these chemicals help to improve production rates by optimizing reservoir conditions. In addition, they boost oil recovery by reducing the interfacial tension between oil and water, improving sweep efficiency, and facilitating the flow of oil from the reservoir to the wellbore. Moreover, they help to reduce operational costs by improving drilling efficiency, preventing equipment damage & failures and minimizing downtime. For example, the use of corrosion inhibitors extend the service life of equipment and pipelines, thereby reducing maintenance and replacement costs. The growth of the Asia, Middle East, and Africa oilfield chemicals market is majorly driven by increase in oil production and exploration operations.

According to the India Brand Equity Foundation (IBEF), leading oil & gas companies in India, such as Indian Oil Co., Petronet LNG, and ONGC, announced expansion plans in the domestic oil & gas industry in February 2021 to meet consumer demand. Moreover, technological advancements and rise in focus on enhanced oil recovery (EOR) are propelling the market growth. Advancements in drilling and extraction technologies, such as hydraulic fracturing (fracking) and deepwater drilling, have opened new avenues for oil and gas production.

These advanced techniques often require specialized oilfield chemicals to optimize drilling performance, well stimulation, and reservoir management. In addition, as oilfields mature, their production rates decline, leading to the adoption of enhanced oil recovery techniques. Oilfield chemicals, such as surfactants, polymers, and alkaline solutions, are utilized in EOR methods such as water flooding and chemical flooding to increase oil recovery from reservoirs.

Rise in demand for advanced drilling fluids is predicted to propel the Asia, Middle East, and Africa oilfield chemicals market growth during the forecast period.

Increase in drilling activities and rise in interest in developing deep sea reserves augment the demand for drilling fluids. Drilling fluids facilitate the minimization of rig time, enhance drilling efficiency, improve productivity of oil wells, and ensure environmental compliance. Furthermore, several innovations in the field of oilfield chemicals are emphasized on the production of biodegradable and eco-friendly drilling fluids. Asia, Middle East, and Africa have been experiencing surge in exploration and production activities as companies seek to tap into new oil & gas reserves.

Advanced drilling fluids are required to address the challenges posed by complex reservoirs, high-pressure formations, and extreme temperatures encountered during drilling operations. Further, advancements in drilling technology, such as extended reach drilling, horizontal drilling, and directional drilling, have become more prevalent in Asia, the Middle East, and Africa. These advanced drilling techniques often require specialized drilling fluids to optimize drilling efficiency, wellbore stability, and reservoir productivity. Many areas in Asia, the Middle East, and Africa present challenging drilling environments, including high-pressure/high-temperature (HP/HT) formations, abrasive formations, and narrow drilling windows. Advanced drilling fluids with superior properties, such as high thermal stability, lubricity, shale inhibition, and corrosion resistance, are necessary to overcome these challenges and ensure safe and efficient drilling operations.

Furthermore, there is an increasing emphasis on environmental and regulatory compliance in the oil & gas industry. Advanced drilling fluids that are environmentally friendly, biodegradable, and non-toxic are gaining traction to minimize environmental impact and meet stringent regulatory requirements. Further, enhanced oil recovery (EOR) techniques, such as hydraulic fracturing (fracking) and well stimulation, are being used to maximize productivity. These techniques often require specialized drilling fluids, such as fracturing fluids and completion fluids, to optimize reservoir connectivity and hydrocarbon extraction.

Moreover, in recent years, the oil & gas industry is continually striving for improved operational efficiency and cost optimization. Advanced drilling fluids, which can help reduce non-productive time, enhance drilling performance, and minimize equipment damage, contribute to overall cost savings and project profitability. In addition, the demand for advanced drilling fluids in Asia, the Middle East, and Africa is driven by collaboration and technology transfer from international oilfield service companies and drilling fluid manufacturers. These partnerships enable the transfer of knowledge, expertise, and advanced drilling fluid formulations to local companies and service providers in the regions. Thus, rise in demand and production of advanced drilling fluids boosts the growth of the market. However, rise in environmental concerns and crude oil price volatility are expected to restrain the market growth.

oilfield chemicals market is segmented into type and region. On the basis of type, it is segmented into production chemicals and integrity chemicals. Region-wise, Asia, Middle East, and Africa oilfield chemicals market share is analyzed across Asia, Middle East, and Africa. Key players in the Asia, Middle East, and Africa oilfield chemicals industry include Dorf Ketal, BAKER HUGHES COMPANY, Croda International Plc, ChampionX, Multichem, MI Swaco, Solvay, Stepan, The Lubrizol Corporation, Clariant, Nouryon, and DYNEA.

Asia, Middle East, and Africa oilfield chemicals market, by type

Production chemicals segment was the highest revenue contributor to the market in 2022. Oilfield production chemicals are substances used in the oil & gas industry to optimize the production process and maximize the recovery of hydrocarbons. These chemicals serve various purposes and are applied at different stages of production, including drilling, completion, stimulation, and maintenance.

Asia, Middle East, and Africa Oilfield Chemicals Market
By Type
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Production Chemicals is projected as the most lucrative segment.

The demand for production chemicals is influenced by several key drivers such as expanding industrial and manufacturing sector and increasing energy demand. These chemicals are used in various industrial processes, such as oil and gas production, petrochemicals, water treatment, pulp and paper manufacturing, and mining, among others. As industrial and manufacturing sectors expand, the demand for production chemicals increases. The demand for energy, particularly oil and gas, continues to rise. Production chemicals play a crucial role in the extraction, processing, and transportation of oil and gas. With the exploration of unconventional energy sources and the need for enhanced oil recovery techniques, the demand for production chemicals is expected to grow.

Moreover, advances in oilfield production techniques, such as hydraulic fracturing (fracking), enhanced oil recovery (EOR) methods, and deepwater drilling, require the use of specialized chemicals. The development of new and more effective production chemicals enables the extraction of oil & gas from challenging reservoirs and improves overall production efficiency.

Asia, Middle East, and Africa oilfield chemicals market, by region

Middle East dominated the market in 2022. The Middle East serves as a lucrative market for oilfield chemicals due to its extensive oil & gas production operations.

Furthermore, strong presence of key players in the Middle East such as Baker Hughes, Halliburton, Schlumberger, and BASF as well as local and regional manufacturers notably contributes toward the growth of the market. These companies offer a wide range of chemicals and services, including drilling fluids, production chemicals, well-stimulation chemicals, and corrosion inhibitors.

In addition, government initiatives aimed at boosting domestic oil & gas production and ongoing investments in infrastructure and technology have propelled the growth of the oilfield chemicals market in the Middle East. Moreover, the adoption of advanced technologies and environmental regulations focusing on sustainability are driving the demand for eco-friendly and efficient oilfield chemicals.

Asia, Middle East, and Africa Oilfield Chemicals Market
By Region
2032
Middle East 
Asia
Africa

Middle East holds a dominant position in 2022 and would continue to maintain the lead over the forecast period.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Asia, Middle East, and Africa oilfield chemicals market analysis from 2022 to 2032 to identify the prevailing Asia, Middle East, and Africa oilfield chemicals market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the Asia, Middle East, and Africa oilfield chemicals market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional oilfield chemicals market trends, key players, market segments, application areas, and market growth strategies.

Asia, Middle East, and Africa Oilfield Chemicals Market Report Highlights

Aspects Details
Asia, Middle East, and Africa Oilfield Chemicals Market By Type
By Type
  • Production Chemicals
    • Phase Separation
      • Demulsifiers/Emulsion Breakers
      • Deoilers/Water Clarifiers
      • Surfactants
    • Flow Assurance
      • Scale Inhibitors
      • Pour Point Depressants
      • Wax Inhibitors
      • Wax Dispersant
      • Kinetic Hydrate Inhibitor
      • Foamers
      • Antifoam/Defoamer
      • Friction Reducers
      • Drag Reducing Agents
    • Integrity Chemicals
      • Corrosion Inhibitors
      • H2S Scavengers
      • Biocides
    • Others
      • Acids
      • Wetting Agents
      • Dispersants
      • Additives
Key Market Players
Key Market Players

SOLVAY, NOURYON, THE LUBRIZOL CORPORATION, DORF KETAL CHEMICALS INDIA PVT. LTD., STEPAN COMPANY, CRODA INTERNATIONAL PLC, M-I SWACO, MULTI-CHEM LIMITED, CLARIANT, DYNEA AS, CHAMPIONX, BAKER HUGHES COMPANY

Analyst Review

According to the opinions of various CXOs of leading companies, advancements in technology, rise in oil exploration & production activities, surge in demand for advanced drilling fluid, and rapid expansion of shale oil & gas drilling & production drive the growth of the Asia, Middle East, and Africa oilfield chemicals market.  The CXOs further added that the oilfield chemicals industry has witnessed significant advancements in technology, leading to the development of innovative chemical formulations and application techniques. For example, nanotechnology has been employed to enhance the performance of oilfield chemicals, improving their efficiency and effectiveness in reservoir stimulation, production enhancement, and corrosion inhibition.

Furthermore, the development and provision of customized oilfield chemical solutions notably contribute toward the market growth. Chemical companies are focusing on tailoring their products and services to meet the specific requirements of individual oil and gas fields. This customization allows for better optimization, improved reservoir performance, and increased operational efficiency. Moreover, the integration of digital technologies and data analytics has transformed the oilfield chemicals market.

Real-time monitoring, data-driven decision-making, and predictive analytics are being used to optimize chemical treatments, monitor well performance, and reduce operational costs. The use of sensors, Internet of Things devices, and cloud-based platforms has enabled remote monitoring and control of chemical applications. In addition, a growing emphasis on sustainability and green initiatives within the oilfield chemicals industry boost the market growth. Companies are developing environmentally friendly chemical solutions that have reduced toxicity, improved biodegradability, and lower environmental impact. This includes the use of bio-based and renewable raw materials as well as the implementation of eco-friendly manufacturing processes.

 

Author Name(s) : Arpita Kumari | Eswara Prasad
Frequently Asked Questions?

Growing oil exploration & production activities and rise in demand for advanced drilling fluid, drive the growth of the Asia, Middle East, and Africa oilfield chemicals market is boosting the demand for oilfield chemicals market in Asia, Middle East, and Africa.

The Asia, Middle East, and Africa oilfield chemicals market was valued at $18.3 billion in 2022 and is estimated to reach $27.3 billion by 2032, exhibiting a CAGR of 4.3% from 2023 to 2032.

Key players engaged in development and production of Asia, Middle East, and Africa oilfield chemicals include Dorf Ketal, BAKER HUGHES COMPANY, Croda International Plc, ChampionX, Multichem, MI Swaco, Solvay, Stepan, The Lubrizol Corporation, Clariant, Nouryon, and DYNEA.

Based on type, production chemicals segment is projected to dominate the Asia, Middle East, and Africa oilfield chemicals market forecast period.

The oilfield chemicals market is segmented into type and region. On the basis of type, it is segmented into production chemicals and integrity chemicals. Region-wise, the market is analyzed across Asia, Middle East, and Africa.

Middle East accounted for the largest share in 2022

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Asia, Middle East, And Africa Oilfield Chemicals Market

Regional Opportunity Analysis And Industry Forecast, 2023-2032