Middle East And Africa Oilfield Chemicals Market
Middle East and Africa Oilfield Chemicals Market - By Product (Corrosion & Scale Inhibitors, Demulsifiers, Surfactants, Others); By Application (Drilling, Cement, Stimulation, Production); By Country (Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, Rest of MEA); Trend Analysis, Competitive Landscape & Forecast, 2019–2029
- Published Date: March 2023
- Report ID: BWC23212
- Available Format: PDF
- Page: 240
Report Overview
Increasing drilling activities and oil & gas exploration and production is expected to boost the growth of Middle East and Africa oilfield chemicals market during the forecast period between 2023 and 2029.
Middle East and Africa Oilfield Chemicals Market - Industry Trends & Forecast Report, 2029
Middle East and Africa oilfield chemicals market size was estimated to be worth USD 2.15 billion in 2022. During the forecast period between 2023 and 2029, Middle East and Africa oilfield chemicals market size is projected to grow at a CAGR of 4.7% reaching a value of USD 2.96 billion by 2029. Major growth factors for Middle East and Africa oilfield chemicals market include rising investments in the production of crude oil in response to rising demand. The market is further influenced by the growth in the use of chemicals in drilling fluid activities, production chemicals, workover and completion, industrial and institutional cleaning chemicals, specialized advanced polymers, pesticides, and building chemicals.
Middle East and Africa Oilfield Chemicals Market – Overview
Oilfield chemicals are chemical elements of different compounds used in oil and gas extraction activities. They are used to enhance these operations by enhancing the productivity and efficiency of the oil drilling and petroleum refining processes. Fibers, suspension, clay control, biocides, polymers, suspension & rheology chemicals, surface modifiers, fillers, and particles are just a few oilfield chemicals that may be utilized as drilling fluids. Drillers also utilize membrane-sealing solutions and specialized cement to stop losses.
Middle East and Africa Oilfield Chemicals Market
Growth Drivers
Increasing Oil & Gas Exploration and Production
The investment landscape in Middle East and Africa has broadened, and new opportunities, such as LNG and more challenging offshore projects are being investigated. In the coming years, it is expected that spending on offshore exploration will rise dramatically, along with spending on the continued effort to use renewable energy sources and reduce carbon emissions. Recently, Iraq has announced to increase in oil and gas production with multiple exploration deals with foreign countries. “The government expects oil output to increase by 250,000 bpd once the blocks covered by the agreements start producing”, reported Bloomberg. Such activities are anticipated to boost the growth of the oilfield chemicals market during the forecast period.
Restraints
Growing Trend of Renewable Energy
The governments of various countries are significantly increasing investment towards expanding the adoption of renewable countries. Growing environmental consciousness coupled with the COVID-19 pandemic is offering new growth opportunities to the renewable energy sector. This resulted in a sharp decline in the oil and gas products and caused a decline in crude oil prices. The decrease in the oil and gas demand globally may also impact the exploration and production activities, eventually restraining the Middle East and Africa oilfield chemicals market growth.
Impact of COVID-19 on Middle East and Africa Oilfield Chemicals Market
The COVID-19 pandemic negatively impacted the growth of the Middle East and Africa oilfield chemicals market. The adamant increase in the COVID-19 infection rate in this region prompted the governments to impose lockdowns to curb the virus spread. This resulted in stagnation in oil & gas exploration activities, which caused a significant decline in the oilfield chemicals market during this period. The region also witnessed a substantial shift towards renewable energy sources post the pandemic, which may affect the Middle East and Africa oilfield chemicals market negatively eventually as well.
Middle East and Africa Oilfield Chemicals Market
Segmental Coverage
Middle East and Africa Oilfield Chemicals Market – By Product
Based on product, Middle East and Africa oilfield chemicals market is divided into corrosion & scale inhibitors, demulsifiers, surfactants, and other segments. The corrosion & scale inhibitors segment holds the highest share in Middle East and Africa oilfield chemicals market. Corrosion and scale inhibitors are prominently used in the oil and gas industry as they can prevent the formation of scale from blocking or hindering fluid flow through pipelines, valves, and pumps used in oil production and processing.
Middle East and Africa Oilfield Chemicals Market – By Application
Based on application, Middle East and Africa oilfield chemicals market are segmented into drilling, cement, stimulation, and production. The production segment accounts for the highest market share. Oilfield chemicals are used in many different aspects of exploration and production, such as drilling and cementing optimization as well as the creation of novel fuel-source development techniques like fracturing. These production chemicals enhance these processes by enhancing the productivity and efficiency of the oil drilling and petroleum refining processes, due to which they are gaining huge traction in the market.
Middle East and Africa Oilfield Chemicals Market – By Region
Middle East and Africa oilfield chemicals market covers the following major countries: Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, and the rest of MEA. Saudi Arabia dominates Middle East and Africa oilfield chemicals market. The government initiatives of economic diversification, as well as innovations in Saudi Arabia, are emerging as growth factors for the oilfield chemicals in the country. Furthermore, the Vision 2030 initiative, as announced by the Saudi Arabian Business Council (SABIC), is pushing Saudi Arabia towards massive industrial transformation to exhaust the untapped potential in energy, which is propelling the overall oilfield chemicals market.
Competitive Landscape
Major players operating in Middle East and Africa oilfield chemicals market include BASF SE, Clariant, Dow., Halliburton, Schlumberger Limited, Nouryon, Baker Hughes Company, Kemira, and Huntsman International LLC. These companies employ various strategies to further enhance their market share, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2022 |
Base Year – 2022 |
|
Estimated Year – 2023 |
|
Forecast Period – 2023–2029 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, rest of MEA |
Product/ Service Segmentation |
Product, Application, Country |
Key Players |
BASF SE, Clariant, Dow., Halliburton, Schlumberger Limited, Nouryon, Baker Hughes Company, Kemira, Huntsman International LLC |
By Product
-
Corrosion and Scale Inhibitors
-
Demulsifiers
-
Surfactants
-
Others
By Application
-
Drilling
-
Cement
-
Stimulation
-
Production
By Country
-
Saudi Arabia
-
UAE
-
Qatar
-
Kuwait
-
South Africa
-
Nigeria
-
Algeria
-
Rest of Middle East and Africa
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Middle East and Africa Oilfield Chemicals Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Increased Drilling Activities
- Increased Oil & Gas Exploration and Production
- Restraints
- Growing Trend of Renewable Energy
- Opportunities
- Aging Oil Field Reservoirs
- Challenges
- Environmental Concern
- Growth Drivers
- Technology Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Middle East and Africa Oilfield Chemicals Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- Corrosion and Scale Inhibitors
- Demulsifiers
- Surfactants
- Others
- By Application
- Drilling
- Cement
- Stimulation
- Production
- By Country
- Saudi Arabia
- UAE
- Qatar
- Kuwait
- South Africa
- Nigeria
- Algeria
- Rest of MEA
- By Product
- Market Size & Forecast, 2019–2029
- Saudi Arabia Oilfield Chemicals Market
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2029
- UAE Oilfield Chemicals Market
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2029
- Qatar Oilfield Chemicals Market
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2029
- Kuwait Oilfield Chemicals Market
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2029
- South Africa Oilfield Chemicals Market
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2029
- Nigeria Oilfield Chemicals Market
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2029
- Algeria Oilfield Chemicals Market
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2029
- Rest of MEA Oilfield Chemicals Market
- Market Size & Forecast, 2019–2029
- By Value (USD Billion)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2029
- Competitive Landscape
- List of Key Players and Their Offerings
- Middle East and Africa Oilfield Chemicals Company Market Share Analysis, 2022
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Covid-19 on Middle East and Africa Oilfield Chemicals Market
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- BASF SE
- Clariant
- Dow.
- Halliburton
- Schlumberger Limited
- Nouryon
- Baker Hughes Company
- Kemira
- Huntsman International LLC
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*Financial information of case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Middle East and Africa Oilfield Chemicals Segmentation
Figure 2 Middle East and Africa Oilfield Chemicals Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Middle East & Africa Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 5 Middle East & Africa Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 6 Middle East & Africa Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
Figure 7 Middle East & Africa Oilfield Chemicals Market Share, By Country, By Value, 2019–2029
Figure 8 Saudi Arabia Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 9 Saudi Arabia Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 10 Saudi Arabia Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
Figure 11 UAE Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 12 UAE Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 13 UAE Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
Figure 14 Qatar Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 15 Qatar Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 16 Qatar Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
Figure 17 Kuwait Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 18 Kuwait Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 19 Kuwait Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
Figure 20 South Africa Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 21 South Africa Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 22 South Africa Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
Figure 23 Nigeria Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 24 Nigeria Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 25 Nigeria Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
Figure 26 Algeria Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 27 Algeria Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 28 Algeria Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
Figure 29 Rest of MEA Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Figure 30 Rest of MEA Oilfield Chemicals Market Share, By Product, By Value, 2019–2029
Figure 31 Rest of MEA Oilfield Chemicals Market Share, By Application, By Value, 2019–2029
List of Tables
Table 1 Middle East & Africa Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 2 Middle East & Africa Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 3 Middle East & Africa Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 4 Middle East & Africa Oilfield Chemicals Market Size, By Country, By Value, 2019–2029
Table 5 Saudi Arabia Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 6 Saudi Arabia Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 7 Saudi Arabia Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 8 UAE Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 9 UAE Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 10 UAE Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 11 Qatar Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 12 Qatar Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 13 Qatar Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 14 Kuwait Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 15 Kuwait Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 16 Kuwait Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 17 South Africa Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 18 South Africa Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 19 South Africa Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 20 Nigeria Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 21 Nigeria Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 22 Nigeria Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 23 Algeria Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 24 Algeria Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 25 Algeria Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 26 Rest of MEA Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029
Table 27 Rest of MEA Oilfield Chemicals Market Size, By Product, By Value, 2019–2029
Table 28 Rest of MEA Oilfield Chemicals Market Size, By Application, By Value, 2019–2029
Table 29 BASF SE Company Overview
Table 30 BASF SE Financial Overview
Table 31 Clariant Company Overview
Table 32 Clariant Financial Overview
Table 33 Dow. Company Overview
Table 34 Dow. Financial Overview
Table 35 Halliburton Company Overview
Table 36 Halliburton Financial Overview
Table 37 Schlumberger Limited Company Overview
Table 38 Schlumberger Limited Financial Overview
Table 39 Nouryon Company Overview
Table 40 Nouryon Financial Overview
Table 41 Baker Hughes Company - Company Overview
Table 42 Baker Hughes Company Financial Overview
Table 43 Kemira Company Overview
Table 44 Kemira Financial Overview
Table 45 Huntsman International LLC Company Overview
Table 46 Huntsman International LLC Financial Overview
Market Segmentation
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