Market Size of Oil and Gas Water Treatment Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oil & Gas Water Treatment Chemicals Market Analysis
The Global Oil and Gas Water Treatment Chemicals Market is projected to register a CAGR of over 4% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. The COVID-19 pandemic has resulted in a huge drop in the demand for oil. This has resulted in decreased investments and a major scaling back in the drilling activities. As a result, the demand for water treatment chemicals in the industry has declined. Owing to the pandemic scenario, the petroleum refineries units had cut their throughput as the demand for fuel had been decreased by about 30% to 40% globally during the lockdown. For instance, Indian Oil Corporation Ltd, with a refining capacity of 5 million barrels per day of crude oil, had cut its crude oil processing by about 30-40%, which had led to a decrease in the consumption of wastewater treatment chemicals in the oil and gas industry.
- Over the short term, rising shale gas extraction leading to water contamination and expansion of oil refineries across the world, leading to an increase in the wastewater volume, are expected to drive the oil and gas water treatment chemicals market growth.
- Availability of technological alternatives for water treatment is likely to act as a restraint to the market studied.
- Shifting focus toward the usage of green chemicals is likely to provide opportunities for market growth in the future.
- Asia-Pacific is likely to witness the highest growth rate during the forecast period.
Oil & Gas Water Treatment Chemicals Industry Segmentation
The oil and gas water treatment chemicals are mainly used to treat wastewater produced as a byproduct during oil and natural gas exploration and downstream petroleum refining processes. Some of the methods to remove the oil from the contaminated water include increasing overall droplet size (coalescence), changing the specific gravity of oil droplets, use of hydro cyclones and centrifuges, and others. The oil and gas water treatment chemicals market is segmented by type and geography. By type, the market is segmented into Scale and Corrosion Inhibitors, Biocides and Disinfectants, Defoamers and Defoaming Agents, Flocculants and Coagulants, Demulsifiers, Oxygen Scavengers, and Other Types. The report also covers the market size and forecasts for the oil and gas water treatment chemicals market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Type | |
| Scale and Corrosion Inhibitors | |
| Biocides and Disinfectants | |
| Defoamers and Defoaming Agents | |
| Flocculants and Coagulants | |
| Demulsifiers | |
| Oxygen Scavengers | |
| Other Types (Emulsion Breakers, Flow Enhancers, Deoilers, etc.) |
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Oil and Gas Water Treatment Chemicals Market Size Summary
The oil and gas water treatment chemicals market is poised for growth, driven by the increasing need for effective water management solutions in the industry. The market experienced a downturn due to the COVID-19 pandemic, which led to a significant reduction in oil demand and subsequent decreases in drilling activities and investments. However, the recovery is expected to be supported by the rising extraction of shale gas, which often leads to water contamination, and the expansion of oil refineries that increase wastewater volumes. Despite the availability of technological alternatives, the shift towards green chemicals presents new opportunities for market expansion. The Asia-Pacific region is anticipated to witness the highest growth rate during the forecast period, reflecting the region's burgeoning industrial activities.
In the oil and gas sector, the use of corrosion and scale inhibitors is crucial for maintaining the efficiency and longevity of equipment. These chemicals play a vital role in protecting metals from corrosion and preventing scaling in systems such as pipelines and heat exchangers. The demand for these inhibitors is expected to rise, particularly in regions like the Middle East and Africa, where oil production is significant. North America, with its substantial shale gas and oil production, also remains a key market, supported by technological advancements and increased production outputs. The market is characterized by a fragmented landscape with several key players, including Kurita Water Industries Ltd, Chemtex Speciality Limited, DuPont, Avista Technologies Inc., and Veolia Water Technologies, who are actively expanding their portfolios through strategic acquisitions.
Oil and Gas Water Treatment 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 Rising Shale Gas Extraction Leading to Water Contamination
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1.1.2 Expansion of Oil Refineries Across the World
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1.2 Restraints
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1.2.1 Availability of Technological Alternatives for Water Treatment
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1.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19
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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 Type
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2.1.1 Scale and Corrosion Inhibitors
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2.1.2 Biocides and Disinfectants
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2.1.3 Defoamers and Defoaming Agents
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2.1.4 Flocculants and Coagulants
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2.1.5 Demulsifiers
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2.1.6 Oxygen Scavengers
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2.1.7 Other Types (Emulsion Breakers, Flow Enhancers, Deoilers, etc.)
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 ASEAN Countries
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2.2.1.6 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 France
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2.2.3.3 United Kingdom
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2.2.3.4 Italy
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2.2.3.5 Rest of the Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle East & Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle East & Africa
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Oil and Gas Water Treatment Chemicals Market Size FAQs
What is the current Oil and Gas Water Treatment Chemicals Market size?
The Oil and Gas Water Treatment Chemicals Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Oil and Gas Water Treatment Chemicals Market?
Kurita Water Industries Ltd, Chemtex Speciality Limited, DuPont, Avista Technologies, Inc. and Veolia Water Technologies are the major companies operating in the Oil and Gas Water Treatment Chemicals Market.
