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The Saudi Arabia Oilfield Chemicals Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Saudi Arabia Oilfield Chemicals market which consists of regional market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end users, applications, product type, technologies, competitive benchmarking, etc.
Market Overview
According to MarkNtel Advisors’ research report titled “Saudi Arabia Oilfield Chemicals Market Analysis, 2020”, the market size of Saudi Arabia Oilfield Chemicals market in 2020 is estimated to be around USD 0.89 billion. The eastern province had a market share of around 45% in 2019. The continuous growth in crude oil production amid a slowdown in demand owing to economic lockdowns and curfews in Asia and Europe due to COVID-19, further pushed the demand for oil field chemicals in Saudi Arabia. These geopolitical events are further projected to boost the demand for oil field chemicals in Saudi Arabia.
Eastern Region to Grab the Majority Market Share of Oilfield Chemicals
Saudi Arabia has more than 100 oilfields that are majorly situated in the Eastern province of the kingdom. Saudi Aramco is the leading producer of gas and crude oil in the country. Moreover, companies such as Nalco, REDA, and Baker Hughes are some of the prominent companies of oilfield chemicals operating in the country. The major growth of oilfield chemicals is generated from the increasing production of crude oil and natural gases at oilfields where these chemicals are used from extraction to transportation. Moreover, catalyzing the focus of the offshore drilling activity of the companies is driving the demand for oilfield chemicals at oilfields in Saudi Arabia as stated in the MarkNtel Advisors’ research report “Saudi Arabia Oilfield Chemicals Market Analysis, 2020”.
Burgeoning Demand for Natural Gas and Crude Oil Production
The production of natural gas and crude oil has driven its corresponding market in Saudi Arabia. Moreover, the consistent plunge in oil prices has increased the focus of manufacturing companies toward greater production of natural gas. Exploration of shale gas in the offshore drilling fields in the eastern province is also a major factor for the growth of the Oilfield Chemicals market in Saudi Arabia.
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.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Saudi Arabia Oilfield Chemicals Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What would be the growth rate or CAGR of Saudi Arabia Oilfield Chemicals Market during 2020-25?
A. The growth rate of Saudi Arabia Oilfield Chemicals Market during 2020-25 is forecast to be considerable single digit growth.
Q. Who were the leading palyers operating in the Saudi Arabia oilfield chemical market in 2019?
A. BASF, CECA, Nalco Champion, Clariant AG, Baker Hughes, Halliburton, Dow Chemicals, AKZO Nobel, AUBIN Group, REDA Oilfield, etc.are few of the leading players in the Saudi Arabia Oilfield Chemicals Market.
Q. Which region would emerge as an opportunity area for players in Saudi Arabia Oilfield Chemicals Market?
A. The Eastern region is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
