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Oil Field Chemicals

The oilfield chemicals market is expected to grow at a CAGR of 5% driven by increasing demand for petroleum-based fuel from the transportation industry.

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    ABB Ltd
    Location
    Jackson, Mississipi
    Duns number
    3862211
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    ESG Profile
    Company and Sector Performance
    58
    100
    Robust (1)
    ESG Perfomance (/100)
    Environment
    59
    Social
    54
    Governance
    62
    6 Domains Performance (/100)
    Business behaviour
    58
    Human rights
    58
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    37
    Corporate governance
    67
    Human resources
    54
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    97
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    Industry Comparison
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    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    7
    Human Rights Issues
    0
    Production Supply Chain Issues
    1
    Environmental Non Compliance Flags
    8
    Corruption Issues
    11
    Regulatory Non Compliance Flags
    27
    Fraud Issues
    7
    Labor Health Safety Flags
    8
    Regulatory Issues
    9
    Workforce Disputes
    2
    Sanctions
    0
    esg energy transition
    59
    Discrimination Workforce Rights Issues
    6
    esg controversies critical severity
    No

    Oil Field Chemicals market report transcript

    Global Market Outlook on Oil Field Chemicals

    • The drilling fluid market is expected to reach $11 billion in 2021, growing at a CAGR of 2–3 percent. Due to decrease in crude oil prices, drilling fluid prices have come down drastically in the last two years
    • Rig count is the major price driver of drilling fluids. In the US, from mid 2015, 350 wells have been shut and 200 wells havenot started operations, which has reduced the demand
    • Australia witnessed a mild increase in rig count during the last two years, as explorations were flourishing the market, which led to increased demand

    Oil Field Chemicals Market Size

    Xanthan Gum: Market Dynamics

    Xanthan gum is used as a water viscosity reducer in varied applications. The demand is expected to grow at a rapid CAGR of above 6 percent during 2017–2021, mainly due to its application in the food and oil & gas industries

    • Positive regulatory support from the European and US administration for the usage of Xanthan gum as stabiliser, emulsifier, thickener and gelling agent is expected to keep the demand from food industries robust
    • In the oil and gas industry, it is used as drilling fluids as well as in EOR methods to reduce the mobility of water. Recently, after the oil price crash, many EOR schemes have been shelved and reduced the growth for demand, however, any firming up of oil price will rapidly increase the demand for Xanthan gum
    • Guar gum, a substitute for Xanthan gum, is likely to impact the demand growth; however, the production of Guar gum is highly uncertain, as the output depends mainly upon the yield of Guar beans from the Indian market

    Barite: Market Dynamics

    The supply of Barite is highly correlated to the price of oil and gas, since usage of Barite in drilling fluid is the single largest consuming sector. With stabilising oil prices and shale gas drilling in the US, the demand for Barite is expected to grow at a CAGR of around 3.7 percent

    • China produces approx. 3 million tonnes of Barite that account for about 40 percent of global production. The current production is way lower than the production during 2010–2011, when the prices of oil were in peak
    • China has set an aggressive goal of producing 30 BCM of gas by 2020 by drilling more shale gas wells. This, in turn, is expected to increase the domestic consumption and reduce the amount of Barite available for exports
    • If the current lowering Barite output from China persists, by 2020, China is expected to become a net importer of Barite. As a result, supply is expected to become tight

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