June 21, 2024
Oil And Gas Descaler Market

Oil and Gas Descaler Market is Estimated to Witness High Growth Owing to Increasing Oil & Gas Exploration Activities

The Oil and gas descaler market involves products that are used in cleaning and descaling surfaces from limescale and mineral deposits. Descalers are corrosion inhibiting chemicals used for removing calcium, magnesium, and other mineral deposits that tend to build up over time in the production equipment, pipelines and process units of oil and gas operations. Descalers help avoid reduced heat transfer, increased pressure drop and other operational problems caused due to scale formation. The growing oil & gas exploration and production activities across the globe have increased their applicability.

The Global Oil and gas descaler market is estimated to be valued at US$ 424.3 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Oil and gas descaler market are Natrol Inc., Neurim Pharmaceuticals Ltd., Pulse Pharmaceuticals Pvt. Ltd., Flynn Pharma Ltd., Fidia Farmaceutici S.P.A., Aspen Pharmacare Holdings Ltd., Schiff Nutrition International Inc., Solal Technologies (Pty) Ltd., Rexall Sundown, Inc., and Bebida Beverage Co. The increasing oil production in countries such as the US, Saudi Arabia, Russia and China provides significant opportunities for descaler manufacturers in these regions.

With rising exploration and production activity, demand for high-performance descalers is increasing globally. Key market players are focusing on strategic partnerships and expansion plans across regions like Asia Pacific, North America and Middle East & Africa to leverage opportunities.

The global expansion of key descaler manufacturers through partnerships, acquisitions, and new plant establishments will also help serve the increasing demand from international markets over the forecast period.

Market drivers

The key driver for the Oil And Gas Descaler Market Demand is the significant rise in oil & gas exploration and production activities around the world over the past few years. According to Organisation of Petroleum Exporting Countries (OPEC), the global oil demand is expected to increase from 97 million barrels per day in 2018 to 109 million barrels per day by 2040. This is compelling oil producers to ramp up their extraction from onshore and offshore fields. Increasing oil production results in higher accumulation of mineral scale in the infrastructure which is propelling the demand for descaling chemicals and services.

PEST Analysis

Political: The global oil and gas descaler market is affected by various government policies and regulations regarding exploration and production activities. Stringent environmental laws related to wastewater treatment can impact market growth.

Economic: Factors such as crude oil prices, economic growth rate, and investments in upstream and midstream oil & gas activities influence the demand for oilfield descalers. During an economic slowdown, E&P spending reduces affecting the market.

Social: Rising awareness about reducing chemical usage and shift towards eco-friendly products present new market opportunities. Population growth and urbanization increase energy demand boosting exploration and production activities.

Technological: Advanced descaling solutions that can remove solid deposits and minimize corrosion in a cost-effective manner aid production. Digital technologies for improved monitoring and process optimization help maximize production and reduce operational costs.

Geographical Regions with High Market Concentration

North America accounts for a significant market share due to the presence of major oil and gas producers and ongoing drilling & completion activities in the region, especially in the US. The Middle East is also a key market backed by large crude oil reserves and expanding refinery capacities in countries such as Saudi Arabia and UAE.

Fastest Growing Geographical Region

Asia Pacific is expected to witness the highest growth during the forecast period supported by increasing exploration in offshore oilfields and refining capacity additions to meet rising energy demand in China and India. Government initiatives to reduce fossil fuel import dependence boost regional upstream activities.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it