# oil field chemicals market - growth, trends, covid-19 impact, and forecasts 2028

The [Asia-Pacific oilfield chemicals market](https://www.pragmamarketresearch.com/reports/119235/asia-pacific-oilfield-chemicals-market) is expected to grow significantly in the coming years due to increasing demand for energy and the rise of exploration and production activities in the region. The growth of the market is driven by factors such as the increasing need for enhanced oil recovery techniques, advancements in technology, and increasing investment in the oil and gas industry.

However, the market faces certain challenges such as environmental regulations, fluctuating oil prices, and competition from substitutes.

## APAC Oilfield Chemicals Market Analysis

The Asia-Pacific oilfield chemicals market is expected to register a CAGR of 4% during the forecast period (2019-2024). One of the major factors driving the growth of the market is the increased shale gas exploration and production in the Asia-Pacific region.

- Rising demand for petroleum-based fuel from the transportation industry is expected to drive the demand for the market, during the forecast period.

- Rising biofuel industry is likely to hinder the market growth.

- New horizons opened up, due to deep-water drilling operations, which are projected to act as an opportunity for the market in the future.

### APAC Oilfield Chemicals Industry Segments:

The Asia-Pacific oilfield chemicals market report includes:

**Chemical Type:**

Biocide

Corrosion and Scale Inhibitor

Demulsifier

Polymer

Surfactant

Other Chemical Types

**Application:**

Drilling and Cementing

Enhanced Oil Recovery

Production

Well Stimulation

Workover and Completion

**Geography:**

China

India

Indonesia

Malaysia

Thailand

Australia & New-Zealand

Vietnam

Rest of Asia-Pacific

### Some of the major trends in the Asia-Pacific oilfield chemicals market include:

Growing demand for shale gas: The increasing demand for shale gas is driving the growth of the Asia-Pacific oilfield chemicals market as it requires a large amount of chemicals for exploration and production.

Increasing investment in the oil and gas industry: The increasing investment in the oil and gas industry is expected to drive the growth of the Asia-Pacific oilfield chemicals market.

Adoption of green technologies: The adoption of green technologies, such as biodegradable and environmentally friendly chemicals, is expected to fuel the growth of the Asia-Pacific oilfield chemicals market.

Rising demand for enhanced oil recovery techniques: The increasing demand for enhanced oil recovery techniques is driving the growth of the Asia-Pacific oilfield chemicals market as these techniques require the use of specialized chemicals.

Technological advancements: The development of new and advanced technologies, such as nanotechnology and smart chemicals, is expected to drive the growth of the Asia-Pacific oilfield chemicals market.

Corrosion and Scale Inhibitors: Corrosion and scale inhibitors are expected to be the fastest-growing segment in the Asia-Pacific oilfield chemicals market, by chemical type. This is due to the increasing demand for these chemicals in oil and gas production activities to prevent corrosion and scaling of pipelines, storage tanks, and other equipment.

> The APAC oilfield chemicals market is highly competitive, with a large number of global and regional players operating in the region. Some of the key players in the market include:

Halliburton

Schlumberger

Baker Hughes

Weatherford International

BASF SE

The Dow Chemical Company

AkzoNobel N.V.

Clariant AG

Huntsman Corporation

Ashland Inc.

These companies compete on various factors such as product quality, price, innovation, and customer service. Mergers and acquisitions, partnerships and collaborations, and new product launches are some of the strategies used by these companies to gain a competitive advantage in the market.