Saudi Arabia OilField Chemicals Market Size is USD
928.27 million in 2022 and is anticipated to increase at a CAGR of 4.81% in the
forecast period. The usage of oil field chemicals is therefore
becoming more and more significant as crude oil resources decrease, the oil
industry demands more sophisticated methods for the exploitation of natural resources.
The Saudi Arabia Oil Field Chemicals Market is driven by increased oil and gas
exploration and production; a focus on difficult offshore and frontier areas;
increasing well depths; and the need to maximize existing well output in the
country. According to the International Trade Administration, Saudi Arabia
is one of the world's largest net exporters of petroleum and the center of over
17% of the world's proven oil reserves. Further, oilfield chemicals are
used in various sectors such as in the field of exploration and production,
including the optimization of cementing and drilling, as well as aiding in the
development of new methods of developing fuel sources, fracturing, etc.
Drilling fluids play a key role to drill wells
faster, deeper, longer, and in more challenging situations. According
to the Organization of the Petroleum Exporting Countries, the OPEC nations
generate the most oil globally, with Saudi Arabia accounting for one-third of
the group's total production. The oilfield chemicals used
as drilling fluids can include fibers, suspension, clay control, and biocides,
as well as polymers, suspension and rheology chemicals, surface modifiers,
fillers, and particles. In addition, drillers use specialty cement and
membrane-sealing solutions to prevent losses.
chemicals are substances used in the exploration of oil and gas. They are used
in drilling operations and production facilities to increase the extraction
process efficiency and efficacy. These substances aid in the smooth operation
of oil fields and reduce the costs incurred by frequent stops and delays while drilling.
According to the U.S. Energy Information Administration, OPEC accounted for
roughly 11% of all petroleum imports into the United States in 2021, and 13% of
all imports of crude oil. Saudi Arabia, the largest OPEC oil producer to the
United States, supplied 6% of the country's imports of crude oil and 5% of its
total petroleum imports. Moreover, oilfield chemicals may remain as residues
in crude oil since they are utilized in many stages, including drilling,
cementing, and well-stimulation. During the production phase, when it is
vulnerable to the deposition of scales, wax hydrates, and alkanes, crude oil's
outflow through the well must be monitored.
used in oil fields aid in the recovery of hydrocarbons, which has significant
economic advantages. Also, the industry for oil field chemicals is expanding in
some areas, including drilling fluids, workover and completion, and production.
Furthermore, oil field chemicals are used in the wastewater treatment process.
Wastewater from oil fields is frequently contaminated with a variety of
chemical and natural contaminants. These injected chemicals have the potential
to corrode pipelines, harm the environment, and clog pipes. Oilfield wastewater
treatment frequently uses a gas float and chemical flocculation techniques to
treat oily wastewater.
Demand for Personal Care Products is Driving the Market
Due to the
increasing participation of women in the workforce, sales of colored cosmetics
such as pigments and dyes in Saudi Arabia are steadily rising. Also, as the
COVID-19 pandemic spreads throughout the world, top manufacturers in Saudi
Arabia are noticing a significant rise in demand for hygiene products,
including hand sanitizers, liquid soaps, disinfectant sprays, and contaminant
wipes. According to the government of Saudi Arabia, the cosmetics market is
estimated at USD 16 billion in 2021, and the number of imported cosmetics in
the past year exceeded USD 0.6 billion in the country. The demand for
performance chemicals is predicted to increase across all end-use sectors in
Saudi Arabia, including oil and gas, paper, construction, water management,
food, mining, pharmaceutical, agricultural, and personal care for use in
specialized applications. Also, it is anticipated that the availability of a
variety of formulation chemicals, such as electronic chemicals, institutional
and industrial cleansers, surfactants, and flavors and fragrances, will boost
the market's expansion.
from Various End-User Industries
One of the
key factors boosting the market for specialty oilfield chemicals is the
increasing amount of crude oil production worldwide. The high level of crude
oil output and rising demand due to applications for enhanced oil recovery
speed up market expansion. According to the Saudi energy minister, Saudi
Arabia will increase its oil production by 13 million barrels per day in 2027.
The market is further influenced by the rise 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, among other uses. Moreover,
the market for specialty oilfield chemicals is positively impacted by increased
crude oil output, with an increase in deep and ultra-deep oil and gas drilling,
and growing industrialization.
- Recently, in 2022, Baker Hughes announced an agreement with Dussur to form a Joint venture company that will focus on providing oilfields and industrial chemicals in Saudi Arabia.
- In 2017, U.S.-based Nabors Drilling and Saudi Aramco collaborated to increase their product line and expand their customer base in Saudi Arabia.
- In 2018, Saudi Aramco announced a joint venture with U.S.-based NOV Inc. to produce drilling rigs as well as associated tools in Saudi Arabia.
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Saudi Arabia Oil Field Chemicals Market is
segmented based on application, oil field type, type,
and region. Based
on the application, the market is fabricated into Drilling,
Completion Method, Cementing, Stimulation, Enhanced Oil Recovery, and Others. Based on oil field type the market is divided into Onshore
and Offshore. Based on type the market is segmented into Special Oil Field
Chemicals and Commodity Oil Field Chemicals.
Baker Hughes Saudi
Arabia Co., Halliburton Co Saudi Arabia, Schlumberger Middle East Sa, Saudi
Arabia BASF, Dow Saudi Arabia, Aubin Ltd., Arkema Chemicals Saudi Arabia
Company, The Solvay Group, Clariant Ali Al Abdullah Al Tamimi Company Ltd, and Redachem
United for Trading Ltd. are some of the key players of Saudi Arabia Oil Field
Market Size Value in 2022
USD 928.27 Million
Revenue Forecast in 2028
USD 1232.68 Million
2018 – 2021
2024 – 2028
Revenue in USD Million, Volume in Thousand Tonnes, and CAGR for 2018-2022
Revenue forecast, volume
forecast, company share, competitive landscape, growth factors, and trends
Oil Field Type
Eastern Region , Central Region,
Key companies profiled
Hughes Saudi Arabia Co., Halliburton Co Saudi Arabia, Schlumberger Middle
East Sa, Saudi Arabia BASF, Dow Saudi Arabia, Aubin Ltd., Arkema Chemicals
Saudi Arabia Company, The Solvay Group, Clariant Ali Al Abdullah Al Tamimi
Company Ltd and Redachem United for Trading Ltd.
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In this report, Saudi Arabia Oil Field Chemicals market
has been segmented into the following categories, in addition to the industry
trends, which have also been detailed below:
Saudi Arabia Oil Field Chemicals
Market, By Application:
o Completion Method
o Enhanced Oil Recovery
Saudi Arabia Oil Field
Chemicals Market, By Oil Field Type:
Saudi Arabia Oil Field
Chemicals Market, By Type:
Special Oil Field Chemicals
Commodity Oil Field Chemicals
Company Profiles: Detailed analysis of the major companies in Saudi
Arabia Oil Field Chemicals market.
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according to a company’s specific needs. The following customization options
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