Middle East & Africa Oilfield Chemicals Market Global Size,...| MENAFN.COM

Tuesday, 06 December 2022 08:16 GMT

Middle East & Africa Oilfield Chemicals Market Global Size, Opportunities, Historical Analysis, Development Status, Business Growth And Forecast: 2022-2031


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“The report on
Middle East & Africa Oilfield Chemicals Market
was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter's five forces.

Download Sample of This Strategic Report:

Middle East & Africa Oilfield Chemicals Market: Overview
  • In terms of value, the oilfield chemicals market in Middle East & Africa is expected to cross
    US$ 3.5 Bn
    by
    2027
  • Functional effects of oilfield chemicals are anticipated to fuel the demand for oilfield chemicals in Middle East & Africa during the forecast period
  • Increase in oil and gas extraction activities, especially in Saudi Arabia, Kuwait, the UAE, and Iran, led by high demand for oil and gas products from various countries across the globe, is estimated to boost the demand for oilfield chemicals in Middle East & Africa during the forecast period

Middle East & Africa Oilfield Chemicals Market: Key Drivers and Restraints

  • According to the OPEC annual statistics,
    1,492.6 billion
    barrels of proven crude oil reserves are currently available across the globe. Of these, more than
    80%
    reserves are under the control of the OPEC. This is projected to drive the demand for oilfield chemicals in the Middle East during the forecast period.
  • Advancements in the well stimulation technology are estimated to lower costs and improve the efficiency of well stimulation activities in the next few years. Companies operating in the oilfield chemicals market have started focusing on well stimulation activities to cater to the rising demand for crude oil and natural gas. For instance, Wavefront Technology Solutions, a company engaged in well stimulation and enhanced oil recovery, has commenced a new well stimulation campaign for seven wells in Saudi Arabia. Thus, enhanced oil recovery and well stimulation activities are likely to increase significantly in Middle East & Africa during the forecast period. This, in turn, is projected to boost the demand for oilfield chemicals in the region in the next decade.
  • Environment-related concerns regarding oil production and political unrest in oil producing geographies are likely to hamper the oilfield chemicals market in Middle East & Africa during forecast period

Middle East & Africa Oilfield Chemicals Market: Key Product Segments

  • Based on product, the oilfield chemicals market in Middle East & Africa has been broadly segregated into biocides, corrosion & scale inhibitors, de-emulsifiers, surfactants, polymers, lubricants, hydrogen sulfide scavengers, fluid loss additives, and others
  • The threat of internal substitution among various oilfield chemicals is estimated to remain high in the oilfield chemicals market in Middle East & Africa during the forecast period. A single product formulation can be used in multiple applications. For instance, hydrogen sulfides are employed in exploration and production of crude oil. Oilfield chemicals are anticipated to remain susceptible to the threat of external substitution from eco-friendly alternatives during the forecast period.

Middle East & Africa Oilfield Chemicals Market: Key Segments

  • Based on application, the oilfield chemicals market in Middle East & Africa has been divided into production chemicals, drilling fluids, well stimulation fluids, cementing fluids, enhanced oil recovery, and workover & completion
  • Corrosion and scale inhibitors are expected to remain the high-value products of the oilfield chemicals market in Middle East & Africa during the forecast period. They reduce the risk of corrosion and scale deposition in certain operations such as drilling, production, stimulation, and transport in the oilfield sector. Inhibitors need to be used in these operations to avoid the risk of corrosion and scale formation.
  • The de-emulsifiers segment is anticipated to expand at a significant pace during the forecast period, since de-emulsifiers are used for separation of emulsions in oilfield operations

Saudi Arabia Expected to be Highly Lucrative Region of Middle East & Africa Oilfield Chemicals Market

  • As per Saudi Vision –
    2030 , Saudi Arabia aims to reduce its reliance on oil and diversify its economy. This is expected to offer significant opportunities to invest in the domestic petrochemicals business.
  • The oilfield chemicals market in Saudi Arabia is anticipated to expand at a fast-paced CAGR during the forecast period. On the other hand, the oilfield chemicals market in Oman is estimated to expand at a moderate pace in the near future.

Middle East & Africa Oilfield Chemicals Market: Competition Landscape

  • The oilfield chemicals market in Middle East & Africa is export based, due to low production of chemicals in the region
  • Major players operating in the oilfield chemicals market in Middle East & Africa include
    • Baker Hughes
    • Halliburton
    • Solvay S.A.
    • BASF SE
    • Schlumberger Limited
    • Albemarle Corporation
Middle East & Africa Oilfield Chemicals Market – Scope of the Report

A new study on the oilfield chemicals market in Middle East & Africa presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as structure of the oilfield chemicals market in the region. TMR's study offers valuable information on the oilfield chemicals market in Middle East & Africa to illustrate how growth would discern during the forecast period of 2019–2027.

Key indicators of market growth, which include value chain analysis as well as supply chain analysis and compounded annual growth rate (CAGR), are elucidated in TMR's study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the oilfield chemicals market in Middle East & Africa during the forecast period.

An extensive analysis of leading market players' business strategies has been also featured in TMR's study on the oilfield chemicals market in Middle East & Africa. This can help readers understand principal factors to foresee growth of the oilfield chemicals market in Middle East & Africa. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the oilfield chemicals market in Middle East & Africa, which would guide market players in making apt decisions in the near future.

Key Questions Answered in Report- Study on Middle East & Africa Oilfield Chemicals Market
  • What would be the Y-o-Y growth rate of the oilfield chemicals market in Middle East & Africa between 2019 and 2027?
  • What is the influence of changing trends in technologies on the oilfield chemicals market in Middle East & Africa?
  • Would Saudi Arabia continue to remain the most profitable market for manufacturers of oilfield chemicals in the near future?
  • Which factors would impede the growth of the oilfield chemicals market in Middle East & Africa during the forecast period?
  • Which are the leading companies in the oilfield chemicals market in Middle East & Africa?

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