Market Size of Qatar Oilfield Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.34 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Qatar Oilfield Chemicals Market Analysis
The Qatar Oilfield Chemicals Market size is evaluated at USD 54.47 million in 2020 and is projected to register a CAGR of ~6.34% during the forecast period (2021-2026).
The market was negatively impacted by the COVID-19 pandemic in 2020. The performance of the oil and gas industry was highly affected due to the negative impact on crude price. The disrupted supply of raw materials and labor is a major factor affecting various activities in 2020, and it is expected to recover in the future. For instance, in the oil and gas industry, various manufacturing plants shut their production and office operations worldwide, which led to a sharp drop in sales in 2020. Though most companies have resumed their production by now, the extent of resumption in production continues to be limited.
- Over the medium term, the factor driving the growth of the market studied is the high demand from new upstream projects.
- On the flip side, inconsistent crude oil prices and unfavorable conditions arising due to the COVID-19 outbreak may act as barriers to the growth of the market studied.
- However, the innovation in production technology of biodegradable and environmentally friendly oilfield chemicals is expected to set out high potential opportunities for growth and market expansion in the oilfield chemicals market.
Qatar Oilfield Chemicals Industry Segmentation
Oilfield chemicals are the specialty chemicals used in the oilfields to service various objectives, such as equipment performance, wastage reduction, treatment, and increasing yield. The Qatar oilfield chemicals market is segmented by chemical type and application. By chemical type, the market is segmented into Biocides, Corrosion and Scale Inhibitors, Demulsifiers, Polymers, Surfactants, and Other Chemical Types. By application, the market is segmented into Drilling and Cementing, Enhanced Oil Recovery, Production, Well Stimulation, and Workover and Completion. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Chemical Type | |
| Biocides | |
| Corrosion and Scale Inhibitors | |
| Demulsifiers | |
| Polymers | |
| Surfactants | |
| Other Chemical Types |
| Application | |
| Drilling and Cementing | |
| Enhanced Oil Recovery | |
| Production | |
| Well Stimulation | |
| Workover and Completion |
Qatar Oilfield Chemicals Market Size Summary
The Qatar oilfield chemicals market is poised for growth, driven by the increasing demand from new upstream projects and the recovery of the oil and gas industry post-COVID-19 disruptions. The market experienced a downturn in 2020 due to the pandemic's impact on crude prices and supply chain disruptions, but it is expected to recover as production resumes. The demand for oilfield chemicals is fueled by their essential role in various stages of the oil and gas industry, including drilling, production, and maintenance activities. The rise in deep-water drilling and the expansion of LNG production capacity in Qatar further bolster the market's growth prospects. Innovations in biodegradable and environmentally friendly chemicals present new opportunities for market expansion.
The market landscape is characterized by a high level of consolidation, with major players like Halliburton, Schlumberger, Baker Hughes, BASF, and Solvay dominating the scene. These companies are actively involved in projects that enhance Qatar's petrochemical capacity and strengthen regional ties. The demand for specialty oilfield chemicals is particularly driven by their use in drilling fluids, which are crucial for maintaining wellbore stability and enhancing well performance. The easing of trade restrictions and government support is expected to lead to a surge in oil production activities, further driving the demand for oilfield chemicals in the country.
Qatar Oilfield Chemicals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing demand for Oil and Gas Production
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1.2 Restraints
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1.2.1 Impact of COVID-19 on Oil and Gas Industry
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1.2.2 The Decline in the Prices of Oil
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Chemical Type
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2.1.1 Biocides
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2.1.2 Corrosion and Scale Inhibitors
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2.1.3 Demulsifiers
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2.1.4 Polymers
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2.1.5 Surfactants
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2.1.6 Other Chemical Types
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2.2 Application
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2.2.1 Drilling and Cementing
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2.2.2 Enhanced Oil Recovery
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2.2.3 Production
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2.2.4 Well Stimulation
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2.2.5 Workover and Completion
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Qatar Oilfield Chemicals Market Size FAQs
What is the current Qatar Oilfield Chemicals Market size?
The Qatar Oilfield Chemicals Market is projected to register a CAGR of 6.34% during the forecast period (2024-2029)
Who are the key players in Qatar Oilfield Chemicals Market?
Halliburton Company, Schlumberger Limited, Baker Hughes Company, BASF SE and Solvay are the major companies operating in the Qatar Oilfield Chemicals Market.
