PRODUCTION CHEMICALS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The production chemicals market is estimated to be valued at USD 7.44 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. The production chemicals market involves various chemicals that aid in enhancing oil and gas recovery and improving production from oil and gas wells. These chemicals help in maximizing the extraction of hydrocarbons from reservoirs by maintaining the integrity of resources. Some key production chemicals utilized include corrosion inhibitors, scale inhibitors, asparagines, biocides, and surfactants. Corrosion inhibitors prevent pipelines and equipment from corroding due to water and gas production. Scale inhibitors prevent scale deposits inside equipment. Asparagines and biocides control the growth of microorganisms that can damage pipelines. Surfactants are also used to increase oil productivity from the reservoirs. With rising energy demands worldwide, production chemicals play a vital role in improving recovery from mature oilfields and unlocking production from unconventional resources. This drives significant growth opportunities for the production chemicals market.

 Market Dynamics:

The production chemicals market is driven by factors such as increasing oil and gas production activities, mature oilfield recovery, and demand for enhanced oil recovery techniques. Mature oilfields require production chemicals to boost the declining well productivity. According to the IEA, around 60% of the world's future oil production is expected to come from enhanced oil recovery techniques that utilize production chemicals. However, stringent environmental regulations pose a challenge as some chemicals are toxic in nature. Also, volatility in crude oil prices impacts investments towards upstream oilfield projects. To overcome such restraints, key players are focusing on developing bio-based and eco-friendly production chemicals. Moreover, increasing efforts towards unlocking unconventional resources, such as shale oil and tight oil formations, present opportunities for further market growth.

 Key Features of the Study:

• This report provides an in-depth analysis of the global production chemicals market, and provides market size (US$ Bn & KG) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global production chemicals market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include ASF SE, Clariant, Halliburton, Ecolab, Schlumberger Limited., Akzo Nobel N.V., Baker Hughes, Croda International Plc, Dow, The Lubrizol Corporation, Stepan Company, Kemira, NALCO India., Solvay, Huntsman International LLC, Chemcon Speciality Chemicals Ltd., Universal Oil Field Chemical Pvt.Ltd, Imperial Oilfield Chemicals Private Limited, REDA Oilfield, and Indian Oil.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global production chemicals market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global production chemicals market.

Market Segmentation

• Oilfield Type:
  • Onshore 
  • Offshore
• Type:
  • Demulsifiers
  • Corrosion Inhibitors
  • Scale Inhibitors
  • Asphaltene Inhibitors
  • Biocides
  • Scavengers
  • Others (Surfactants, etc.)
• Application:
  • Cementing
  • Drilling Fluids
  • Improved Oil Recovery
  • Others (Well Stimulation, etc.)
• Regional:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • ASF SE
  • Clariant
  • Halliburton
  • Ecolab
  • Schlumberger Limited.
  • Akzo Nobel N.V.
  • Baker Hughes
  • Croda International Plc
  • Dow
  • The Lubrizol Corporation
  • Stepan Company
  • Kemira
  • NALCO India.
  • Solvay
  • Huntsman International LLC
  • Chemcon Speciality Chemicals Ltd.
  • Universal Oil Field Chemical Pvt.Ltd
  • Imperial Oilfield Chemicals Private Limited
  • REDA Oilfield