Middle East & Africa Oilfield Chemicals Market Top Manufacturers, Size, Business Scenario, Share, Growth, Insights, Industry Analysis, Trends and Forecasts Report 2027

​Middle East & Africa Oilfield Chemicals Market: Introduction

In terms of value, the oilfield chemicals market in Middle East & Africa is anticipated to expand at a CAGR of ~4% from 2019 to 2027 and reach a value of ~US$ 3.7 Bn by 2027. In terms of volume, Saudi Arabia dominated the oilfield chemicals market in Middle East & Africa in 2018. It is estimated to be a leading country of the oilfield chemicals market in Middle East & Africa during the forecast period. According to Organization of the Petroleum Exporting Countries (OPEC), Saudi Arabia possesses around 18% of the proven petroleum reserves in the world. It is the largest exporter of petroleum products across the globe. The oil & gas sector accounts for about 50% of gross domestic product and around 70% of export earnings in the country.

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Middle East & Africa Oilfield Chemicals Market: Key Drivers and Restraints

Countries in the Middle East such as Saudi Arabia, Iran, Iraq, the UAE, Qatar, and Kuwait account for more than 50% of global proven crude oil reserves. At the current rate of consumption, proven crude oil reserves can last for the next 100 years. At the same time, global demand for crude oil is rising at a rapid pace. This is driving the need for higher production of crude oil. The presence of large numbers of proven crude oil reserves in Middle East & Africa is estimated to attract high investments in the oil production sector in the region. Furthermore, dependence of these countries on crude oil exploration and production is anticipated to prompt their governments to increase oil production. This, in turn, is projected to drive the demand for oilfield chemicals in the sub-region during the forecast period.

The number of enhanced oil recovery (EOR) projects in the Middle East has increased over the last decade. Countries such as Oman are aggressively implementing EOR projects. Other countries in the region have also initiated their strategic short-, medium-, and long-term development plans for EOR projects. Thus, enhanced oil recovery and well stimulation activities are anticipated to increase significantly in Middle East & Africa during the forecast period. This, in turn, is estimated to boost the demand for oilfield chemicals in the region in the next decade. Environment-related concerns regarding oil production and political unrest in oil producing geographies are likely to hamper the oilfield chemicals market in Middle East & Africa during forecast period.

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Middle East & Africa Oilfield Chemicals Market: Key Segments

Based on product, the oilfield chemicals market in Middle East & Africa has been broadly segregated into biocides, corrosion & scale inhibitors, de-emulsifiers, surfactants, polymers, lubricants, hydrogen sulfide scavengers, fluid loss additives, and others. In terms of volume, the surfactants product segment held major share of the oilfield chemicals market in Middle East & Africa in 2018. This trend is expected to continue throughout the forecast period owing to the rise in usage of oilfield chemicals in surfactants in upstream, midstream, and downstream applications in the oilfield sector. Surfactants also offer lucrative opportunities for the oilfield chemicals market in Middle East & Africa, owing to the increase in adoption of surfactants in exploration, drilling, production, well stimulation, enhanced oil recovery, and workover operations in the oilfield sector in the region.

Based on application, the oilfield chemicals market in Middle East & Africa has been divided into production chemicals, drilling fluids, well stimulation fluids, cementing fluids, enhanced oil recovery, and workover & completion. Based on application, the well stimulation fluids segment constituted significant share of more than 20% of the oilfield chemicals market in Middle East & Africa in 2018. This trend is estimated to continue during the forecast period. On the other hand, enhanced oil recovery is projected to be the fastest growing application segment of the oilfield chemicals market in Middle East & Africa during the forecast period.

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Middle East & Africa Oilfield Chemicals Market: Competition Landscape

Major manufacturers of oilfield chemicals include Baker Hughes, Halliburton, Solvay S.A., BASF SE, Schlumberger Limited, and Albemarle Corporation. Implementation of stringent environment-related regulations regarding production of oilfield chemicals is expected to create significant barriers for new players entering the oilfield chemicals market in Middle East & Africa.

Global Middle East & Africa Oilfield Chemicals Market: Segmentation

Middle East & Africa Oilfield Chemicals Market, by Product
Biocides
Corrosion & Scale Inhibitors
De-emulsifiers
Surfactants
Polymers
Lubricants
Hydrogen Sulfide Scavengers
Fluid Loss Additives
Others (including Clay Stabilizers and Emulsifiers)

Middle East & Africa Oilfield Chemicals Market, by
Application
Production Chemicals
Drilling Fluids
Well Stimulation Fluids
Cementing Fluids
Enhanced Oil Recovery
Workover & Completion

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Untapped Potential in Saudi Arabia Create Incremental Opportunities

Various drivers such as innovation and the localization mission in Saudi Arabia are catching the attention of companies in the market for Middle East & Africa oilfield chemicals. As revealed by the U.S.-Saudi Arabian Business Council (SABIC), Saudi Arabia is undergoing massive industrial transformation under the Vision 2030 initiative catering toward untapped potential in energy, logistics, and industry 4.0. This is well-justified, since Saudi Arabia is expected to lead the Middle East & Africa oilfield chemicals market, in terms of volume, and the total market is estimated to reach an output of ~3,100 kilo tons by the end of 2027.

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