An Outlook on the Aspects Driving the GCC Specialty Oilfield Chemicals Market Through 2026

According to MarkNtel Advisors, GCC Specialty Oilfield Chemicals Market is likely to grow at a CAGR of 5.1% in the forecast period of 2021-26. The market growth primarily owes to the rapidly expanding oil & gas sector and the increasing number of construction projects like smart city projects in GCC surging the demand for these chemicals.

Moreover, the use of specialty chemicals extends the durability of industrial equipment by removing unwanted deposited metal scales & minimizing the equipment maintenance costs, thereby positively impacting the overall market growth in the forecast period. Furthermore, the growing activities of deep drilling & ultra-deep drilling across oil & gas sectors are also expected to drive the market in the years to come, further states the research report, "GCC Specialty Oilfield Chemicals Market Analysis, 2021."

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Key Questions Answered in the Study
1. What are the current and future trends in the GCC Specialty Oilfield Chemicals Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the GCC Specialty Oilfield Chemicals Market?
5. What are the customer orientation, purchase behavior, and expectations from the GCC Specialty Oilfield Chemical providers?

Rheology Modifiers Dominated the GCC Specialty Oilfield Chemicals Market in the Previous Few Years
Based on the Type, the GCC Specialty Oilfield Chemicals Market segments into Demulsifiers, Inhibitors & Scavengers, Rheology Modifiers, Friction Reducers, Specialty Biocide, Specialty Surfactants, Pour Point Depressants, and Others like Additives & Defoamers. Of them all, Rheology Modifiers accounted for the largest share in the previous few years.

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They are used as an additive for oil & synthetic muds and offer high viscosity & reduced shear while drilling horizontal & high-angle wells. Since these agents reduce the splashing during the process and improve the sag resilience of the coating, they witnessed skyrocketing demand & dominated the market in the previous few years.

Workover & Completion to Witness the Fastest Growth in the GCC Specialty Oilfield Chemicals Market

Based on the Application, the GCC Specialty Oilfield Chemicals Market segments into Production Chemicals, Drilling Fluids, Well Stimulation, Enhanced Oil Recovery, Cementing, Workover & Completion, and Others. Of them all, the Workover & Completion application is projected to display the fastest growth in the forecast period owing to its ability to make the most of reservoir productivity by creating promising flow paths through hydraulic fracturing & matrix stimulation, coupled with promoting better oil & gas recovery.

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Besides, Specialty Oilfield Chemicals are applicable in multiple operations like well completion, fracking, EOR, intervention services, drilling, etc. Hence, their demand is rising rapidly across the Workover & Completion application, states MarkNtel Advisors in their research report, “GCC Specialty Oilfield Chemicals Market Analysis, 2021.”

Key Market Competitors
According to MarkNtel Advisors, the leading players in the GCC Specialty Oilfield Chemicals Market are BASF SE, Dow Chemical, Ecolab, Huntsman International, Halliburton, Clariant, Kemira, Solvay, Schlumberger, Others.

Market Segmentation:
1. By Type (Demulsifiers, Inhibitors & Scavengers, Rheology Modifiers, Friction Reducers, Specialty Biocide, Specialty Surfactants, Pour Point Depressants, Others (Additives, Defoamers, etc.))
2. By Application (Production Chemicals, Drilling Fluids, Well Stimulation, Enhanced Oil Recovery, Cementing, Workover & Completion, Others)
3. By Countries (Saudi Arabia, UAE, Oman, Bahrain, Kuwait, Qatar)
4. By Competitors (BASF SE, Dow Chemical, Ecolab, Huntsman International, Halliburton, Clariant, Kemira, Solvay, Schlumberger, Others)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

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