The Specialty Oilfield Chemicals Market Size was valued at USD 10.65 Billion in 2022. The Specialty Oilfield Chemicals market industry is projected to grow from USD 10.98 Billion in 2023 to USD 14.6 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.3% during the forecast period (2023 - 2030).

The key market driver for the global specialty oilfield chemicals market is the increasing demand for specialty oilfield chemicals in the oil & gas industry and the use of specialty oilfield chemicals in various industries. Other factors driving the market growth include prevention of corrosion, prevention of scale formation in pipelines, and reduction of losses. Some other benefits that specialty oilfield chemicals offer microbial control in oil refining, such as sulfate growth control that can minimize the formation of H2S.

The global specialty oilfield chemicals market has been segmented on the basis of application, type, and lastly, region. The application-based segmentation has segmented this market into cementing, drilling, enhanced oil recovery (EOR), production, and stimulation. By type, the market has been segmented into biocide, clay stabilizer, corrosion inhibitor, demulsifier, deoiler, fluid loss additive, pour point depressant, scale inhibitor, and others.

The regional segmentation of the global specialty oilfield chemicals market segments the global market into regional markets namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa (MEA). North America holds the largest market share in the global market due to the increased use of these chemicals in the oil & gas industry. In this region, the crucial country-specific markets are the USA and Canada.

The MEA region and Asia Pacific region are the other substantial markets. The MEA region is the second-largest market due to the increasing product demand in major oil-producing countries such as Iran, Kuwait, and Saudi Arabia. Other important country-specific markets in this region are Bahrain, Iran, Israel, Kuwait, Oman, Qatar, Turkey, and United Arab Emirates (UAE), followed by the remaining countries of the MEA region. In the Africa segment of the MEA region, most of the relevant market is in North Africa. In the Asia Pacific region, the primary country-specific markets are Australia, China, India, Japan, and New Zealand, followed by the remaining countries of the Asia Pacific region. Presence of growing economies is the reason for market growth in the Asia Pacific region.

During the forecast period, the markets in Europe and Latin America are expected to witness moderate growth. The most important country-specific markets in Europe are France, Germany, Italy, Russia, Poland, Spain, and the UK. Important country-specific markets in Latin America are Argentina, Brazil, and Mexico, followed by the remaining the remaining countries of Latin America.

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Key Players

The key players in the global specialty oilfield chemicals market include Akzo Nobel NV (Netherlands), BASF SE (Germany), DowDuPont (USA), Global Drilling Fluids & Chemicals Limited (India), Huntsman International LLC (USA), KMCO LLC (USA), Roemex Limited (UK), Sadara (Saudi Arabia), Shrieve (USA), SMC Oilfield Chemicals (USA), Solvay (Belgium), and Thermax Global (India).

Latest Industry News

• Oilfield chemical provider Innospec Inc. has announced a series of investments designed to further expand its capabilities in research, development and technical service for its performance chemicals business. 21 JAN 2019
• Halliburton, one of the world's largest oil field service firm, has acquired Houston based Athlon Solutions. Athlon is a now a part of Halliburton's specialty oilfield chemicals business division, Multi-Chem. 22 AUG 2019
• Versalis, Mazrui Energy Services (a Mazrui International Company), a leading service company in the Oil & Gas industry in the Middle East, and Petrochem (a Mazrui Energy Services Company), a leading manufacturer of drilling fluids, have signed an agreement to establish Versalis Petrochem Mazrui (VPM), a joint venture for the commercialization of innovative chemicals for the Oil & Gas industry in the Abu Dhabi. 15 NOV 2018

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