Production Chemicals Market Intelligence

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Are you looking for answers on Production Chemicals category?

Are you looking for answers on Production Chemicals category?

  • What are the key trends in Production Chemicals category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Production Chemicals industry?
  • How is Production Chemicals industry performing?

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Report Coverage

  • Global Market Outlook
  • COVID-19 Impact on Production Chemicals Market
  • Supply Market Outlook

Market Size

Global Market Size

$2.9 Billion

North America

$1.3 Billion

Europe

$0.36 Billion

LATAM

$0.34 Billion

Table of contents

  1. Production Chemicals Executive Summary
  2. Global Market Outlook
  3. Category Landscape
  4. COVID-19 Impact on Production Chemicals Market

 

  1. Production Chemicals Market Analysis
  2. Category Description
  3. Global Market Overview for Production Chemicals
  4. Regional Market Overview
  5. Market Drivers and Constraints
  6. Porter’s Five Forces Analysis
  7. Innovation
  8. Sustainability

 

  1. Production Chemicals Cost Analysis and Breakup
  2. Cost Break up
  3. Cost Drivers

 

  1. Production Chemicals Engagement and Contract Practices
  2. Best Practices
  3. Types of Engagement and Contract Practices

 

  1. Production Chemicals Supply Analysis
  2. Supply Market Outlook

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Global Market Outlook on Production Chemicals

The global production chemicals market is estimated to be $2.9 billion in 2020, and it is expected to reach $3.6 billion by the end of 2023, with a CAGR of 7.05 percent. In Q2 2020, the production chemicals market across all the regions is expected to
decline, due to production cuts by OPEC

  • Production chemicals are mandatory requirement during production operation. However, there are many regional and global providers present in the market, except for proprietary products
  • North America and Middle East regions are highly matured, while APAC and LATAM regions are medium matured markets

The global market for production chemical is estimated to be at $2.9 billion in 2020. On a global scale, demulsifier chemicals contribute to the majority of the market share in 2020

  • The production chemicals market is expected to drop by more than $1 billion in 2020 compared to 2019, due to lower oil and gas activities across the globe 
  • In terms of value, the global oil & gas production chemicals market stood at $2.9 billion in 2020. The market is forecast to reach $3.6 billion by the end of 2023, with a CAGR of 7.05 percent
  • The production chemicals market is completely dependent on oil & gas production. The oil production dropped by at least 10 million barrels/day in H1 2020 plummeting the demand for production chemicals. The market is expected to drop by $1 billion in 2020. Furthermore, OPEC has announced further production cuts by 1.2 million barrels/day from July 2020, which is expected to downward market impact on production chemicals
  • Segment wise, demulsifier accounted for 30 percent of the overall production chemicals market in 2020, followed by corrosion and scale inhibitors, with 15 percent of the overall production chemicals market in 2020 

Regional Market Overview for Production Chemicals 

North America held the major share of the production chemicals market in 2020, and the trend is likely to continue throughout the forecast period. The high market share is ascribed to the high oil production across the region

The market is matured in the North America region. Highest oil production in the region compared to other regions poised demand for production chemicals. However, the market is expected to drop by approximately $1 billion in 2020, due to production cuts and COVID-19 pandemic in the region

  • MEA contributed to around 20 percent of the overall production chemicals market. However, the market is expected to impact downward, due to production cuts
  • The European and LATAM regions collectively contributed to 24 percent of the global oil & gas production chemicals market. In Europe, the production chemicals market is driven by the offshore activates across the North Sea region
  • The APAC market stood at $0.4 billion in 2019

Global Production Chemicals: Market Drivers and Constraints 

Drivers 

  • Production chemicals are a mandatory requirement during crude oil production and separation process post-production in oilfield. Increasing in number of drilling wells globally will increase demand for production chemicals
  • An expected, increase in CAPEX spending by major oil & gas companies will drive the demand for production chemicals in the near future
  • Advancement in technologies related to nanotech production chemicals is likely to increase the demand

Constraints

  • Stringent environment & emission regulations are making production chemicals costlier across several countries
  • Major oil & gas assets in Australian Offshore, Gulf of Mexico, Canada are located in environmentally sensitive areas requiring the state-of-art technology, which comes with higher cost
  • Current scenario of low oil prices led to production cuts, affecting production chemicals market
  • Persisting production cuts by OPEC has significantly affected the production chemicals market

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