Saudi Arabia Oilfield Chemicals Market [2018-2028] Analysis by Trends, Demands, Share, Forecast

Summary

Report Description

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.

Oilfield 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.

Chemicals 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.

Increasing 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.

Rising Demand 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.

Recent Developments

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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Market Segmentation

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.

Company Profiles

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 Chemicals Market.

Attribute	Details
Market Size Value in 2022	USD 928.27 Million
Revenue Forecast in 2028	USD 1232.68 Million
Growth Rate	4.81%
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, Volume in Thousand Tonnes, and CAGR for 2018-2022 and 2023E-2028F
Report coverage	Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends
Segments covered	Application Oil Field Type Type
Regional scope	Eastern Region , Central Region,
Key companies profiled	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.
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

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 Drilling

o Completion Method

o Cementing

o Stimulation

o Enhanced Oil Recovery

o Others

· Saudi Arabia Oil Field Chemicals Market, By Oil Field Type:

o Onshore

o Offshore

· Saudi Arabia Oil Field Chemicals Market, By Type:

o Special Oil Field Chemicals

o Commodity Oil Field Chemicals

Competitive landscape

Company Profiles: Detailed analysis of the major companies in Saudi Arabia Oil Field Chemicals market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

4.1. Brand Awareness

4.2. Demand for Oil Field Chemicals by Application

5. Demand-Supply Analysis

5.1. Production

5.2. Inventory

5.3. Import

5.4. Export

5.5. Demand-Supply Gap

6. Saudi Arabia Oil Field Chemicals Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Application (Drilling, Completion Method, Cementing, Stimulation, Enhanced Oil Recovery, Others)

6.2.2. By Oil Field Type (Onshore, Offshore)

6.2.3. By Type (Commodity Oil Field Chemicals, Special Oil Field Chemicals,)

6.2.4. By Region

6.2.5. By Company (2022)

6.3. Market Map

6.3.1. By Application

6.3.2. By Oil Field Type

6.3.3. By Type

6.3.4. By Region

7. Saudi Arabia Drilling Chemicals Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value & Volume

7.2. Market Share & Forecast

7.2.1. By Application

7.2.2. By Oil Field Type

7.2.3. By Type

7.2.4. By Region

8. Saudi Arabia Completion Production Chemicals Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value & Volume

8.2. Market Share & Forecast

8.2.1. By Application

8.2.2. By Oil Field Type

8.2.3. By Type

8.2.4. By Region

9. Saudi Arabia Cementing Chemicals Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value & Volume

9.2. Market Share & Forecast

9.2.1. By Application

9.2.2. By Oil Field Type

9.2.3. By Type

9.2.4. By Region

10. Saudi Arabia Stimulation Chemicals Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value & Volume

10.2. Market Share & Forecast

10.2.1. By Application

10.2.2. By Oil Field Type

10.2.3. By Type

10.2.4. By Region

11. Saudi Arabia Enhanced Oil Recovery Chemicals Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value & Volume

11.2. Market Share & Forecast

11.2.1. By Application

11.2.2. By Oil Field Type

11.2.3. By Type

11.2.4. By Region

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends & Developments

14. Policy and Regulatory Landscape

15. Pricing Analysis

16. Saudi Arabia Economic Profile

17. Existing Capacities/Upcoming Capacities Analysis

18. Porter’s Five Forces Analysis

19. Competitive Landscape

19.1. Baker Hughes Saudi Arabia Co

19.2. Halliburton Co Saudi Arabia

19.3. Schlumberger Middle East Sa

19.4. Saudi Arabia BASF

19.5. Dow Saudi Arabia

19.6. Aubin Ltd.

19.7. Arkema Chemicals Saudi Arabia Company

19.8. The Solvay Group

19.9. Clariant Ali Al Abdullah Al Tamimi Company Ltd

19.10. Redachem United for Trading Ltd.

20. Strategic Recommendations

21. About Us & Disclaimer

Figures and Tables

List of Figures:

Figure 1: Saudi Arabia Oilfield Chemicals Market Size, By Value (USD Million), 2018-2028F

Figure 2: Saudi Arabia Oilfield Chemicals Market Size, By Volume (Thousand Tonnes), 2018-2028F

Figure 3: Saudi Arabia Oilfield Chemicals Market Share, By application, By Volume, 2018-2028F

Figure 4: Saudi Arabia Oilfield Chemicals Market Share, By Oil Field Type, By Volume, 2018-2028F

Figure 5: Saudi Arabia Oilfield Chemicals Market Share, By Type, By Volume, 2018-2028F

Figure 6: Saudi Arabia Oilfield Chemicals Market Share, By Region, By Volume, 2018-2028F

Figure 7: Saudi Arabia Oilfield Chemicals Market Share, By Company, By Value, 2022

Figure 8: Saudi Arabia Oilfield Chemicals Market Map, By application, Market Size (USD Million) & Growth Rate (%), 2022

Figure 9: Saudi Arabia Oilfield Chemicals Market Map, By Oil Field Type, Market Size (USD Million) & Growth Rate (%), 2022

Figure 10: Saudi Arabia Oilfield Chemicals Market Map, By Type, Market Size (USD Million) & Growth Rate (%), 2022

Figure 11: Saudi Arabia Oilfield Chemicals Market Map, By Region, Market Size (USD Million) & Growth Rate (%), 2022

Figure 12: Saudi Arabia Drilling Chemicals Market Size, By Value (USD Million), 2018-2028F

Figure 13: Saudi Arabia Drilling Chemicals Market Size, By Volume (Thousand Tonnes), 2018-2028F

Figure 14: Saudi Arabia Drilling Chemicals Market Share, By Oil Field Type, By Volume, 2018-2028F

Figure 15: Saudi Arabia Drilling Chemicals Market Share, By Type, By Volume, 2018-2028F

Figure 16: Saudi Arabia Drilling Chemicals Market Share, By Region, By Volume, 2018-2028F

Figure 17: Saudi Arabia Completion Production Chemicals Market Size, By Value (USD Million), 2018-2028F

Figure 18: Saudi Arabia Completion Production Chemicals Market Size, By Volume (Thousand Tonnes), 2018-2028F

Figure 19: Saudi Arabia Completion Production Chemicals Market Share, By Oil Field Type, By Volume, 2018-2028F

Figure 20: Saudi Arabia Completion Production Chemicals Market Share, By Type, By Volume, 2018-2028F

Figure 21: Saudi Arabia Completion Production Chemicals Market Share, By Region, By Volume, 2018-2028F

Figure 22: Saudi Arabia Cementing Chemicals Market Size, By Value (USD Million), 2018-2028F

Figure 23: Saudi Arabia Cementing Chemicals Market Size, By Volume (Thousand Tonnes), 2018-2028F

Figure 24: Saudi Arabia Cementing Chemicals Market Share, By Oil Field Type, By Volume, 2018-2028F

Figure 25: Saudi Arabia Cementing Chemicals Market Share, By Type, By Volume, 2018-2028F

Figure 26: Saudi Arabia Cementing Chemicals Market Share, By Region, By Volume, 2018-2028F

Figure 27: Saudi Arabia Stimulation Chemicals Market Size, By Value (USD Million), 2018-2028F

Figure 28: Saudi Arabia Stimulation Chemicals Market Size, By Volume (Thousand Tonnes), 2018-2028F

Figure 29: Saudi Arabia Stimulation Chemicals Market Share, By Oil Field Type, By Volume, 2018-2028F

Figure 30: Saudi Arabia Stimulation Chemicals Market Share, By Type, By Volume, 2018-2028F

Figure 31: Saudi Arabia Stimulation Chemicals Market Share, By Region, By Volume, 2018-2028F

Figure 32: Saudi Arabia Enhanced Oil Recovery Chemicals Market Size, By Value (USD Million), 2018-2028F

Figure 33: Saudi Arabia Enhanced Oil Recovery Chemicals Market Size, By Volume (Thousand Tonnes), 2018-2028F

Figure 34: Saudi Arabia Enhanced Oil Recovery Chemicals Market Share, By Oil Field Type, By Volume, 2018-2028F

Figure 35: Saudi Arabia Enhanced Oil Recovery Chemicals Market Share, By Type, By Volume, 2018-2028F

Figure 36: Saudi Arabia Enhanced Oil Recovery Chemicals Market Share, By Region, By Volume, 2018-2028F

Frequently asked questions

What are the major drivers for Saudi Arabia Oil Field Chemicals Market?

The growing demand from oil and petroleum sector is driving the growth of Saudi Arabia Oil Field Chemicals Market.

What are the major challenges for Saudi Arabia Oil Field Chemicals Market?

Declining crude oil prices and High cost associated with the disposal procedures is hindering the growth of Saudi Arabia Oil Field Chemicals Market.

Which application is expected to remain dominant in Saudi Arabia Oil Field Chemicals Market in the upcoming years?

Drilling segment is expected to remain dominant with the market share of 37.75% in 2028 in Saudi Arabia Oil Field Chemicals market due to its growing usage in oil and gas industry.

Who are the top players operating in Saudi Arabia Oil Field Chemicals Market?

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 Chemicals Market.

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Press Release

Saudi Arabia Oilfield Chemicals Market to increase at a CAGR of 4.81% through 2028

Mar, 2023

Growing Focus Towards Local Manufacturing will drive Saudi Arabia Oil Field Chemicals Market in the forecast period 2024-2028.

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