OILFIELD CHEMICALS MARKET ANALYSIS

Regional Analysis

To learn more about this report, request sample copy

North America has been dominating the global oilfield chemicals market for a long time owing to its large production and exploration sector. The region is expected to account for 34.3% of the market share in 2024. The region accounts for around one-third of the global oil and gas output. It is home to top exploration and production companies who are continuously focusing on increasing domestic production through shale development and enhanced oil recovery methods. This has ensured huge and sustained demand for oilfield chemicals from the region over the years. Moreover, the presence of leading manufacturers in the region catering to the evolving needs of E&P companies through product innovation makes North America an attractive market.

The Middle East and Africa region is expected to witness the fastest growth in the oilfield chemicals market over the coming years. Countries like Saudi Arabia, the U.A.E, and Kuwait are investing heavily to extract the last remaining reserves from mature oil fields through EOR techniques. This massive secondary recovery drive is generating significant demand for customized chemicals solutions. Furthermore, countries are increasingly outsourcing chemical requirements to international manufacturers to leverage advanced technologies and ensure steady supply. The regional market is also boosted by growing crude export business. Being the dominant crude exporter, any change in global trade and demand scenarios has a considerable effect on chemical needs of the region. The attractive pricing and tax policies of MEA countries are encouraging foreign manufacturers to set up production bases to cater both domestic and international clients.