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Oil & Gas Water Treatment Chemicals Market - Growth, Trends, and Forecast (2022 - 2030)
SKU ID : INH-14352930 | Publishing Date : 01-Jun-2019 | No. of pages : 113
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Market Overview
The market for oil & gas water treatment chemicals is expected to grow at a CAGR of over 4%. One of the key driving factors of the market growth is rising shale gas extraction leading to water contamination. However, the availability of technological alternatives for water treatment is likely to restrain market growth.
- Expansion of oil refineries across the world is also likely to boost the demand for oil & gas water treatment chemicals.
- Shifting focus toward the usage of green chemicals is likely to provide opportunities for the market growth in the future.
- Asia-Pacific is likely to witness the highest growth rate during the forecast period.
Key Market Trends
Scale and Corrosion Inhibitors to Dominate the Market
- Corrosion inhibitors, when added in small amounts to the corrosive medium, reduce its corrosiveness in considerable measures. These products are extremely efficient at very low dosage, and sufficiently inert to avoid altering the physico-chemical properties of oil.
- Hence, in the oil & gas industry, they are used in reinjection wells, gas plants, refineries, transportation lines, barges, etc., as their usage reduce costs and extend the working life of capital assets, such as process equipment, pipelines, and storage tanks.
- Scale inhibitors are added during secondary recovery of oil. These chemicals improve oil & gas flow, by preventing scaling without causing any change in the crude oil characteristic.
- The usage of scale inhibitors in the oil & gas industry helps the systems maintain scale-free surfaces in pipe walls, heat exchangers, and valves.
- The oil & gas and petrochemical industry is one of the largest users of scale inhibitors with the majority of demand coming from Middle East & Africa.
- Additionally, the oil & gas sectors of India is witnessing significant growth.
- Hence, scale and corrosion inhibitors are likely to dominate the market.
Asia-Pacific to Witness the Highest Growth Rate
- In 2018, the oil & gas production has witnessed a significant growth in China which is likely to increase the demand for oil & gas water treatment chemicals.
- In 2018, Chinese oil refiners raised their output to a record number, led by state-run oil majors, which maximized operations on firm profit-margins and private refiners that increased processing after being granted higher crude import quotas.
- According to the National Bureau of Statistics, Chinese refiners processed 603.57 million metric ton of crude in 2018, or about 12.07 million barrels per day, which was up by 6.8% from 2017.
- Additionally, oil & gas industry in India is also witnessing a positive growth in the recent years.
- Hence, owing to the aforementioned reasons, Asia-Pacific is likely to witness the highest growth rate during the forecast period.
Competitive Landscape
The market for oil & gas water treatment chemicals is partly fragmented as the market share is divided among several key players. Some of the key players of the market include BASF SE, Chemtex Ltd, DowDuPont, and Kurita Water Industries Ltd., among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The market for oil & gas water treatment chemicals is expected to grow at a CAGR of over 4%. One of the key driving factors of the market growth is rising shale gas extraction leading to water contamination. However, the availability of technological alternatives for water treatment is likely to restrain market growth.
- Expansion of oil refineries across the world is also likely to boost the demand for oil & gas water treatment chemicals.
- Shifting focus toward the usage of green chemicals is likely to provide opportunities for the market growth in the future.
- Asia-Pacific is likely to witness the highest growth rate during the forecast period.
Key Market Trends
Scale and Corrosion Inhibitors to Dominate the Market
- Corrosion inhibitors, when added in small amounts to the corrosive medium, reduce its corrosiveness in considerable measures. These products are extremely efficient at very low dosage, and sufficiently inert to avoid altering the physico-chemical properties of oil.
- Hence, in the oil & gas industry, they are used in reinjection wells, gas plants, refineries, transportation lines, barges, etc., as their usage reduce costs and extend the working life of capital assets, such as process equipment, pipelines, and storage tanks.
- Scale inhibitors are added during secondary recovery of oil. These chemicals improve oil & gas flow, by preventing scaling without causing any change in the crude oil characteristic.
- The usage of scale inhibitors in the oil & gas industry helps the systems maintain scale-free surfaces in pipe walls, heat exchangers, and valves.
- The oil & gas and petrochemical industry is one of the largest users of scale inhibitors with the majority of demand coming from Middle East & Africa.
- Additionally, the oil & gas sectors of India is witnessing significant growth.
- Hence, scale and corrosion inhibitors are likely to dominate the market.
Asia-Pacific to Witness the Highest Growth Rate
- In 2018, the oil & gas production has witnessed a significant growth in China which is likely to increase the demand for oil & gas water treatment chemicals.
- In 2018, Chinese oil refiners raised their output to a record number, led by state-run oil majors, which maximized operations on firm profit-margins and private refiners that increased processing after being granted higher crude import quotas.
- According to the National Bureau of Statistics, Chinese refiners processed 603.57 million metric ton of crude in 2018, or about 12.07 million barrels per day, which was up by 6.8% from 2017.
- Additionally, oil & gas industry in India is also witnessing a positive growth in the recent years.
- Hence, owing to the aforementioned reasons, Asia-Pacific is likely to witness the highest growth rate during the forecast period.
Competitive Landscape
The market for oil & gas water treatment chemicals is partly fragmented as the market share is divided among several key players. Some of the key players of the market include BASF SE, Chemtex Ltd, DowDuPont, and Kurita Water Industries Ltd., among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
