Specialty Oilfield Chemicals: Market Leader & New Revenue Pockets

The specialty oilfield chemicals market is expected to grow from USD 11.36 billion in 2018 to USD 13.88 billion by 2023, at a CAGR of 4.1% between 2018 and 2023. Expansions, acquisitions, and new product launches are the key strategies adopted by the major players to strengthen their position in the specialty oilfield chemicals market. The North American and European regions witnessed the maximum number of strategic developments undertaken by various players between 2013 and 2017.

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The key players operating in the specialty oilfield chemicals market are BASF (Germany), Ecolab (US), Clariant (US), DowDuPont (US), Solvay (Belgium), Schlumberger (US), AkzoNobel (Netherlands), Halliburton (US), and Baker Hughes (US), among others.

BASF (Germany) is one of the leading manufacturers of specialty oilfield chemicals. The company offers products, which are used for the construction of oil wells and chemicals for the continuous and cost-effective production of oil & gas from these wells. The company has a strong presence in major regions, which helps it to enhance its penetration in the specialty oilfield chemicals market across the globe. In September 2015, the company launched a series of new chemical technologies for the upstream oil & gas industry. The company launched high-temperature performance enzymes, H2S scavengers, corrosion inhibitors, fluid loss additives, and enhanced oil recovery chemicals, which enabled it to establish a strong foothold in the specialty oilfield chemicals market.

Ecolab (US), and Clariant (US) are other major players in the specialty oilfield chemicals market. Nalco Champion, which operates under Ecolab, is a leading provider of high-performance chemicals for the oil & gas industry. Nalco Champion is known to be the fastest-growing specialty oilfield chemicals company in the world. It offers innovative and environmentally acceptable solutions to the oil & gas industry, thereby giving its parent company, Ecolab a strong growth opportunity in the specialty oilfield chemicals market. The company’s strong capability of providing on-site, technological solutions to the upstream and downstream market makes it a top player in the specialty oilfield chemicals market. In November 2016, Ecolab launched five unique chemistries to achieve production sustainability, reduce lease operating expenses, increase operational efficiency, and eliminate CAPEX.

Clariant (US) extensively focuses on the development of chemicals for varied applications in the upstream oil & gas industry. The company undertook several acquisitions and launched numerous new products to strengthen its position in the specialty oilfield chemicals market. The company has manufacturing capabilities spread across the world and operates in Europe, North America, Asia Pacific, and the Middle East & Africa. In September 2016, Clariant acquired Kel-Tech Inc. (US) and X-Chem LLC (US) to aid its oil & mining services, thereby becoming one of the leading oilfield chemicals providers in the North American region. This acquisition helped the company to gain a substantial share in the specialty oilfield chemicals market.

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SODIUM SILICATE MARKET - GLOBAL FORECAST TO 2022

The sodium silicate market size is projected to reach USD 11.03 billion by 2022, at a CAGR of 4.4% between 2017 and 2022. Sodium silicate is a versatile inorganic chemical. It is produced as a white crystalline powder or in the form of lumps that are soluble in water. It is manufactured by melting sand/silicon dioxide (SiO2) and soda ash/sodium carbonate (Na2CO3) at a temperature above 1800 °F in a closed end furnace. Caustic soda/sodium hydroxide is used instead of sodium carbonate for the direct production of liquid sodium silicate. Sodium silicate is a non-toxic, non-flammable, and non-explosive chemical. It is a strong alkaline chemical having high pH ranging from 10 to 13. Its alkaline nature makes it preferable for various applications such as detergents, precipitated silica, construction, pulp & paper, textiles, paints, foundry, and water treatment. The increasing use of sodium silicate in various applications, such as detergents, precipitated silica, and pulp & paper, is expected to drive the market.

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Expansions, acquisitions, and mergers were the key strategies adopted by the major players to achieve growth in the global sodium silicate market between 2015 and 2018. The major players in the sodium silicate market are PQ Corporation (US), Occidental Petroleum Corporation (US), Tokuyama Corporation (Japan), Nippon Chemical Industrial (Japan), BASF (Germany), Kiran Global Chem Limited (India), Sinchem Silica Gel (China), Shijiazhuang Shuanglian Chemical Industry (China), IQE Group (Spain), and CIECH (Poland).

Nippon Chemical Industrial used expansions as its major strategy to increase its presence in the Southeast Asian market. In August 2017, Nippon Chemical Industrial established a new company JCI in Thailand through a joint venture with local capital. With this expansion, the company aims to expand its business in Southeast Asia, majorly in Thailand.

Tokuyama Corporation used mergers as its major strategy to strengthen its sodium silicate business. In February 2017, Tokuyama Corporation made an absorption-type merger (simplified merger) with its wholly-owned subsidiary Tokuyama Siltech (Japan). The company expects to increase the business of sodium silicate with this merger.

IQE Group used acquisition as its major strategy to increase its sodium silicate production capacity. In November 2015, IQE Group acquired the silicate division of PeroxyChem (US) that includes the silicate production line located at the La Zaida plant and the Zamudio factory in Spain. With this acquisition, the company has increased its production capacity and reduced its competition in Spain.

Asia Pacific is estimated to be the largest market for sodium silicate. China is estimated to be the leading market for sodium silicate in Asia Pacific. India, Japan, and South Korea are the other major countries contributing to the growth of the sodium silicate market in the region. The increasing demand for sodium silicate from applications such as detergents and construction is expected to drive the sodium silicate market in these countries.

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