Report Overview

Middle East and Africa Oilfield Chemicals Market - Industry Trends & Forecast Report, 2029

Middle East and Africa oilfield chemicals market size was estimated to be worth USD 2.15 billion in 2022. During the forecast period between 2023 and 2029, Middle East and Africa oilfield chemicals market size is projected to grow at a CAGR of 4.7% reaching a value of USD 2.96 billion by 2029. Major growth factors for Middle East and Africa oilfield chemicals market include rising investments in the production of crude oil in response to rising demand. The market is further influenced by the growth 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.

Middle East and Africa Oilfield Chemicals Market – Overview

Oilfield chemicals are chemical elements of different compounds used in oil and gas extraction activities. They are used to enhance these operations by enhancing the productivity and efficiency of the oil drilling and petroleum refining processes. Fibers, suspension, clay control, biocides, polymers, suspension & rheology chemicals, surface modifiers, fillers, and particles are just a few oilfield chemicals that may be utilized as drilling fluids. Drillers also utilize membrane-sealing solutions and specialized cement to stop losses.

Middle East and Africa Oilfield Chemicals Market

Growth Drivers

Increasing Oil & Gas Exploration and Production

The investment landscape in Middle East and Africa has broadened, and new opportunities, such as LNG and more challenging offshore projects are being investigated. In the coming years, it is expected that spending on offshore exploration will rise dramatically, along with spending on the continued effort to use renewable energy sources and reduce carbon emissions. Recently, Iraq has announced to increase in oil and gas production with multiple exploration deals with foreign countries. “The government expects oil output to increase by 250,000 bpd once the blocks covered by the agreements start producing”, reported Bloomberg. Such activities are anticipated to boost the growth of the oilfield chemicals market during the forecast period.

Restraints

Growing Trend of Renewable Energy

The governments of various countries are significantly increasing investment towards expanding the adoption of renewable countries. Growing environmental consciousness coupled with the COVID-19 pandemic is offering new growth opportunities to the renewable energy sector. This resulted in a sharp decline in the oil and gas products and caused a decline in crude oil prices. The decrease in the oil and gas demand globally may also impact the exploration and production activities, eventually restraining the Middle East and Africa oilfield chemicals market growth.

Impact of COVID-19 on Middle East and Africa Oilfield Chemicals Market

The COVID-19 pandemic negatively impacted the growth of the Middle East and Africa oilfield chemicals market. The adamant increase in the COVID-19 infection rate in this region prompted the governments to impose lockdowns to curb the virus spread. This resulted in stagnation in oil & gas exploration activities, which caused a significant decline in the oilfield chemicals market during this period. The region also witnessed a substantial shift towards renewable energy sources post the pandemic, which may affect the Middle East and Africa oilfield chemicals market negatively eventually as well.

Middle East and Africa Oilfield Chemicals Market

Segmental Coverage

Middle East and Africa Oilfield Chemicals Market – By Product

Based on product, Middle East and Africa oilfield chemicals market is divided into corrosion & scale inhibitors, demulsifiers, surfactants, and other segments. The corrosion & scale inhibitors segment holds the highest share in Middle East and Africa oilfield chemicals market. Corrosion and scale inhibitors are prominently used in the oil and gas industry as they can prevent the formation of scale from blocking or hindering fluid flow through pipelines, valves, and pumps used in oil production and processing.

Middle East and Africa Oilfield Chemicals Market – By Application

Based on application, Middle East and Africa oilfield chemicals market are segmented into drilling, cement, stimulation, and production. The production segment accounts for the highest market share. Oilfield chemicals are used in many different aspects of exploration and production, such as drilling and cementing optimization as well as the creation of novel fuel-source development techniques like fracturing. These production chemicals enhance these processes by enhancing the productivity and efficiency of the oil drilling and petroleum refining processes, due to which they are gaining huge traction in the market.

Middle East and Africa Oilfield Chemicals Market – By Region

Middle East and Africa oilfield chemicals market covers the following major countries: Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, and the rest of MEA. Saudi Arabia dominates Middle East and Africa oilfield chemicals market. The government initiatives of economic diversification, as well as innovations in Saudi Arabia, are emerging as growth factors for the oilfield chemicals in the country. Furthermore, the Vision 2030 initiative, as announced by the Saudi Arabian Business Council (SABIC), is pushing Saudi Arabia towards massive industrial transformation to exhaust the untapped potential in energy, which is propelling the overall oilfield chemicals market.

Competitive Landscape

Major players operating in Middle East and Africa oilfield chemicals market include BASF SE, Clariant, Dow., Halliburton, Schlumberger Limited, Nouryon, Baker Hughes Company, Kemira, and Huntsman International LLC. These companies employ various strategies to further enhance their market share, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Product

• Corrosion and Scale Inhibitors

• Demulsifiers

• Surfactants

• Others

By Application

• Drilling

• Cement

• Stimulation

• Production

By Country

• Saudi Arabia

• UAE

• Qatar

• Kuwait

• South Africa

• Nigeria

• Algeria

• Rest of Middle East and Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Middle East and Africa Oilfield Chemicals Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increased Drilling Activities
         2. Increased Oil & Gas Exploration and Production
      2. Restraints
         1. Growing Trend of Renewable Energy
      3. Opportunities
         1. Aging Oil Field Reservoirs
      4. Challenges
         1. Environmental Concern
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Middle East and Africa Oilfield Chemicals Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
         1. Corrosion and Scale Inhibitors
         2. Demulsifiers
         3. Surfactants
         4. Others
      2. By Application
         1. Drilling
         2. Cement
         3. Stimulation
         4. Production
      3. By Country
         1. Saudi Arabia
         2. UAE
         3. Qatar
         4. Kuwait
         5. South Africa
         6. Nigeria
         7. Algeria
         8. Rest of MEA
5. Saudi Arabia Oilfield Chemicals Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Application
6. UAE Oilfield Chemicals Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Application
7. Qatar Oilfield Chemicals Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Application
8. Kuwait Oilfield Chemicals Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Application
9. South Africa Oilfield Chemicals Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Application
10. Nigeria Oilfield Chemicals Market
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Product
       2. By Application
11. Algeria Oilfield Chemicals Market
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Product
       2. By Application
12. Rest of MEA Oilfield Chemicals Market
    1. Market Size & Forecast, 2019–2029
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Product
       2. By Application
13. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Middle East and Africa Oilfield Chemicals Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
14. Impact of Covid-19 on Middle East and Africa Oilfield Chemicals Market
15. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. BASF SE
    2. Clariant
    3. Dow.
    4. Halliburton
    5. Schlumberger Limited
    6. Nouryon
    7. Baker Hughes Company
    8. Kemira
    9. Huntsman International LLC
    10. Other Prominent Players
16. Key Strategic Recommendations
17. Research Methodology
    1.  Qualitative Research
       1.  Primary & Secondary Research
    2.  Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Middle East and Africa Oilfield Chemicals Segmentation

Figure 2       Middle East and Africa Oilfield Chemicals Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Middle East & Africa Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 5       Middle East & Africa Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 6       Middle East & Africa Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

Figure 7       Middle East & Africa Oilfield Chemicals Market Share, By Country, By Value, 2019–2029

Figure 8       Saudi Arabia Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 9       Saudi Arabia Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 10     Saudi Arabia Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

Figure 11     UAE Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 12     UAE Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 13     UAE Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

Figure 14     Qatar Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 15     Qatar Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 16     Qatar Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

Figure 17     Kuwait Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 18     Kuwait Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 19     Kuwait Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

Figure 20     South Africa Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 21     South Africa Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 22     South Africa Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

Figure 23     Nigeria Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 24     Nigeria Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 25     Nigeria Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

Figure 26     Algeria Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 27     Algeria Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 28     Algeria Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

Figure 29     Rest of MEA Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Figure 30     Rest of MEA Oilfield Chemicals Market Share, By Product, By Value, 2019–2029

Figure 31     Rest of MEA Oilfield Chemicals Market Share, By Application, By Value, 2019–2029

List of Tables

Table 1        Middle East & Africa Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 2        Middle East & Africa Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 3        Middle East & Africa Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 4        Middle East & Africa Oilfield Chemicals Market Size, By Country, By Value, 2019–2029

Table 5        Saudi Arabia Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 6        Saudi Arabia Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 7        Saudi Arabia Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 8        UAE Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 9        UAE Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 10      UAE Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 11      Qatar Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 12      Qatar Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 13      Qatar Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 14      Kuwait Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 15      Kuwait Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 16      Kuwait Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 17      South Africa Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 18      South Africa Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 19      South Africa Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 20      Nigeria Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 21      Nigeria Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 22      Nigeria Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 23      Algeria Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 24      Algeria Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 25      Algeria Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 26      Rest of MEA Oilfield Chemicals Market Size, By Value (USD Billion), 2019–2029

Table 27      Rest of MEA Oilfield Chemicals Market Size, By Product, By Value, 2019–2029

Table 28      Rest of MEA Oilfield Chemicals Market Size, By Application, By Value, 2019–2029

Table 29      BASF SE Company Overview

Table 30      BASF SE Financial Overview

Table 31      Clariant Company Overview

Table 32      Clariant Financial Overview

Table 33      Dow. Company Overview

Table 34      Dow. Financial Overview

Table 35      Halliburton Company Overview

Table 36      Halliburton Financial Overview

Table 37      Schlumberger Limited Company Overview

Table 38      Schlumberger Limited Financial Overview

Table 39      Nouryon Company Overview

Table 40      Nouryon Financial Overview

Table 41      Baker Hughes Company - Company Overview

Table 42      Baker Hughes Company Financial Overview

Table 43      Kemira Company Overview

Table 44      Kemira Financial Overview

Table 45      Huntsman International LLC Company Overview

Table 46      Huntsman International LLC Financial Overview