Oilfield Corrosion and Scale Inhibitor Market Size, Share, Growth, and Industry Growth, By Type (Inorganic Phosphate, Organophosphorus Compounds, Polymer Scale Inhibitor, and Others), By Application (Water Treatment, Oil & Gas, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 July 2024

Oilfield Corrosion and Scale Inhibitor Market REPORT OVERVIEW

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The global oilfield corrosion and scale inhibitor market size was USD 1903.9 million in 2022 and market is projected to touch USD 2736.5 million by 2031, exhibiting a compound annual growth rate (CAGR) of 4.1% during the forecast period.

The process of preventing the scale formation from hindering or blocking the liquid flow through valves, pumps, and pipelines, which are used in the processing and production of oil. A class of specialty used in preventing or slowing the water systems. These inhibitors are tailored chemicals that prevent or delay the scale formation when added to water with a small concentration which normally creates scale deposits. Oilfield corrosion and scale inhibitors are similar to preventing scale in chemicals used in washing machines.

Oilfield scale inhibition is the technique of preventing scale from forming on pipelines, valves, and pumps used in the production and processing of oil. A class of specialized compounds known as scale inhibitors (SIs) is used to reduce or eliminate scaling in water systems. Scaling in oil processing systems refers to the formation and buildup of salts from an incompatible mixture of aqueous phases. Scaling in oil processing systems refers to the formation and buildup of salts from an incompatible mixture of aqueous phases. The term "scale" is frequently used in the oil business to describe solid deposits that accumulate over time and obstruct and impair fluid flow via pipelines and valves.

COVID-19 Impact: Decreased Output Affected Revenue Due to Manufacturing Halt

Oilfield corrosion and scale inhibitors are utilized in various end-use sectors, including oil & gas and refinery, power generation, pharmaceutical, metal & mining, and utilities, among others, for applications like water treatment, process and product additives, and oil & gas production. In the aforementioned end-use sectors, corrosion inhibitors are used to remediate hazardous water and prolong the life of metals and alloys. By slowing down corrosion in various industrial settings and treating contaminated water, they are able to manage the corrosion process. The Covid-19 epidemic had a significant negative influence on the chemical industry globally. The chemical industry's expansion was hampered by supply chain disruption, labor reduction, travel restrictions, and declining demand as a result of global unrest.

LATEST TRENDS

"Growing Demand for Treated Water in Various Industries to Foster Growth"

Freshwater resources make up the least amount of the world's total water resources, making it difficult to supply water for home and industrial use. Water must be efficiently recycled because there is a growing disparity between supply and demand. This can be done by purifying the water. Globally, the market for corrosion inhibitors in the water treatment industry is expanding quickly. The major users of corrosion inhibitors are industrial producers, who are always looking for more potent inhibitors to shorten downtime for equipment repairs. Rising demand from emerging nations, in particular, is a result of a surge in demand for corrosion inhibitors across various industries, including chemical processing, petroleum, pulp & paper, oil & gas, and metals to protect from corrosion.

Oilfield Corrosion and Scale Inhibitor Market market Segmentation

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• By Type Analysis

By type, the market is segmented into inorganic phosphate, organophosphorus compounds, polymer scale inhibitors, and others. 

• By Application Analysis

Based on application, the market is classified into water treatment, oil & gas, and others.

DRIVING FACTORS

"Rising Industrialization in Emerging Economies to Boost the Market Growth"

Infrastructure development is anticipated to take place in emerging nations such as China, India, Brazil, and South Korea, which are anticipated to increase industrial activity and support oilfield corrosion and scale inhibitor market growth. The market for oilfield corrosion and scale inhibitors is anticipated to rise due to infrastructure expansion connected to the demand for energy, clean water, gasoline, transportation, and construction. The countries are investing heavily in the development of infrastructure, which is expected to aid growth in the market.

"Easy Availability of Materials to Boost the Product Demand"

The escalating availability of scale inhibitors and rising demand for biodegradable scale inhibitors, scale inhibitors from various industries are anticipated to propel the oilfield corrosion and scale inhibitor market growth. Efficient and biodegradable oilfield corrosion and scale inhibitors, wastewater treatment facilities, and upcoming government projects for water and wastewater treatment are expected to boost growth in the global market. It helps in avoiding any accumulation in the formation of extra materials in the liquid they are used in. these chemicals are used to prevent the formation of any formulation in the container of fluid.

RESTRAINING FACTORS

"Constant Fluctuation in the Price of Raw Materials to Impede Growth"

The price of raw materials is fluctuating, which is anticipated to hinder the oilfield corrosion and scale inhibitor market growth. Additionally, the growing environmental awareness and managing the effects of scale inhibitors may affect the growth of the market. The population is being more aware of the environment-friendly products and the products that are expected to affect the environmental balance. The price of raw materials is increasing due to the rising demand for the product, which is anticipated to be an additional factor that may affect the market growth.

Oilfield Corrosion and Scale Inhibitor Market REGIONAL INSIGHTS

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"North America to Dominate the Market Due to the Easy Availability of the Product"

North America is most likely to hold a major part of the oilfield corrosion and scale inhibitor market share due to the growing availability of the product coupled with the rising demand for biodegradable chemicals and materials.

Europe is expected to hold a significant part of the oilfield corrosion and scale inhibitor market share due to the rising number of water treatment plants and forthcoming government projects for water and wastewater treatment.

Expanding number of end-use industries leading to the development and innovation of the product is forecasted to show sizable growth in the region.

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in Market"

Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• Nalco (India)
• BASF (Germany)
• GE(Baker Hughes) (U.S.)
• Dow (U.S.)
• Canadian Energy Services (Canada)
• CECA (India)
• Chemex (U.S.)
• Clariant (Switzerland)
• Ashland (U.S.)
• AkzoNobel (Netherlands)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research.

• The pandemic's aftereffects and the subsequent lockdown.
• The market's most recent trend is currently fueling expansion.
• The factors are most likely to stimulate market growth.
• The reasons the market is expected to grow more slowly.
• A comprehensive regional analysis of the market is conducted.
• Significant players and their business offices are also covered in the article.