Press Release: April 14, 2020
Production chemicals are utilized for improving oil & gas extraction operations. Production chemicals are used in almost all stages of oil and gas production consists well boring, drilling, exploration, EOR applications, and oil. A wide variety of classifications of production chemicals includes of demulsifies, surfactants, asphaltene inhibitors, corrosion inhibitors, biocides, and others. These chemicals facilitate to achieve the ideal introduction and improve production maintenance & transport and eventually the oil recovery from reserves. The demand for production chemicals is rising in oil recovery application.
Saudi Arabia Production Chemicals Market is driven by factors such as increasing production of crude oil, growing drilling activities, and Growth of eco-friendly oilfield chemicals. In addition, increase in exploration and production activities and expansion ultra-deep-water drilling projects are also expected to increase the demand of Production Chemicals in upcoming few years. High demand for petroleum crude oil wells will increase the consumption of production chemicals in the area. Furthermore, rapid expansion of shale oil & gas drilling & production and emergence of eco-friendly production chemicals lead to the increasing demand for Production Chemicals during the forecast period. However, the price fluctuation and environmental concerns may hamper market growth.
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The chemical industry has been an essential piece of the GCC Countries, especially Saudi Arabia chemical industry is one of the oldest and crucial for a long time. Production Chemicals contributes significantly in regional economy and in many industrial segments. Saudi Arabia’s chemical industry growth will keep on supporting overall GCC market growth due to its big share in overall production capacity. According to Gulf Petrochemicals and Chemicals Association, In 2016, 66% of GCC capacity in the petrochemical segment was owing to Saudi Arabia (67%). Saudi production index in 2016 approached 100 which is practically indistinguishable from the GCC index (240.9). From a country perspective, the Saudi Arabia’s production chemicals market provides lucrative opportunity due to the high production of crude oil and discovery of new reserves of oil and gas.
Various notable players operating in the market, include BASIC CHEMICAL INDUSTRIES (BCI), Sabic, M Baker Hughes, Halliburton Inc., Schlumberger Limited, Weatherford Saudi Arabia Ltd., Exxon Mobil Corporation, Chevron Phillips Chemical Company , Kalada Chemicals among others.
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Key questions answered in this research report:
1- At what pace is Saudi Arabia Production Chemicals market growing? What will be the Saudi Arabia Production Chemicals market forecast?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in Saudi Arabia Production Chemicals and market size?
4- Saudi Arabia Production Chemicals market outlook, application areas and how they are poised to grow?
5- Saudi Arabia Production Chemicals market overview, industry analysis and scope of study?
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