Press Release Description

Unrelenting Production of Crude Oil and Natural Gas and Geopolitical Events Boosting the Oilfield Chemicals Market in Saudi Arabia

The growth of Saudi Arabia oilfield chemicals is majorly attributed to the evolution of exploration of shale gas at offshore drilling oilfields coupled with promulgating production of natural gas and crude oil production. Most of the production of oil and gas takes place in the eastern province of the country. Another reason for the propelled growth is the continuous decline in the oil and gas prices which also impacts the oilfield chemicals market.

According to MarkNtel Advisors’ research report Saudi Arabia Oilfield Chemicals Market Analysis, 2020”, the Saudi Arabia oilfield chemicals market is anticipated to grow at a considerable CAGR of 2020-25. In early 2020, the country entered into an oil trade war with Russia which significantly pushed the demand for oilfield chemicals sporadically. However, on account of the COVID-19 pandemic that occurred in 2020, there was the market demand for crude oil nosedived owing to lockdowns and curfews in Asia and Europe. With around 75% of the storage capacity of crude oil already full and no consensus on the production of crude oil between oil-producing countries (as of April 2020), the oil field chemicals market would continue to grow, however at a comparatively slower pace for during 2020-21.  

Eastern Region Grabbed the Maximum Market Share 
Around 100 companies of oil and gas production has their oil drilling and extraction operations located in eastern province of the country. Among them, Saudi Aramco is the leading company for oil and gas operating in the eastern region. Approximately, 50% of the production of oil and gas is produced in the eastern region. Moreover, some major companies of oilfield chemicals in the country are REDA, BASF, Baker Hughes and Nalco. Also, the companies are entering into partnerships with other end-use stakeholders in the need for consistent suppliers to grow in the country. Moreover, supporting the business environment for oil and gas production and proliferating greenfield chemicals in the country are the major factors attributing to the soaring demand for oilfield chemicals. Therefore, the oilfield chemical market in Saudi Arabia is expected to boom during the forecast period as revealed by the MarkNtel Advisors’ research report “Saudi Arabia Oilfield Chemicals Market Analysis, 2020”.

According to MarkNtel Advisors’, the key players with a considerable market share in the Saudi Arabia Oilfield Chemicals market include BASF, CECA, Nalco Champion, Clariant AG, Baker Hughes, Halliburton, Dow Chemicals, AKZO Nobel, AUBIN Group, REDA Oilfield, etc.
“Saudi Arabia Oilfield Chemical Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for oilfield chemical providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.       

Market Segmentation:
1.    By Product Type (Biocides, Corrosion & Scale Inhibitors, De-emulsifier, Surfactants, Polymers, Lubricants, Hydrogen Sulfide Scavengers, Fluid Loss Additive), 
2.    By Application (Drilling Fluid Chemicals, Production Chemicals, Completion Fluid Chemicals, Cementing Chemicals/Additives, Well Simulation Fluid Chemicals & EOR), 
3.    By Region (North, south, West, East, Central), 
4.    By Company (BASF, CECA, Nalco Champion, Clariant AG, Baker Hughes, Halliburton, Dow Chemicals, AKZO Nobel, AUBIN Group, REDA Oilfield, etc.)

Key questions answered in the study:
1.    What are the current and future trends of the Saudi Arabia Oilfield chemicals industry? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
4.    What are the key growth drivers and challenges for the Saudi Arabia Oilfield chemicals industry?
5.    What are the customer orientation, purchase behavior, and expectations from the Saudi Arabia Oilfield chemicals firms across various regions?