Global Oilfield Biocides Market Key Insights 

During the forecast period of 2023-2035, the global Oilfield Biocides market is expected to reach an estimated value of ~USD 35 billion by 2035, by expanding at a CAGR of ~8%. The market further generated a revenue of ~USD 18 billion in the year 2022. Major key factors propelling the growth of Oilfield Biocides Market worldwide are the rising utilization of hydraulic technology in order to extract oil, and growing demand for petroleum based products.

Market Definition of Oilfield Biocides

Biocides are likely to be used to prevent and eliminate various types of bacteria and algae in drilling fluids and pipes. These are related enzymes that have the ability to breakdown fluids, cause corrosion to occur, and then cause pitting in pipes and other types of equipment. A highly toxic and deadly gas called hydrogen sulfide may also be produced by commercial items. Biocides are used at many points in the development of an oilfield, including the initial drilling of wells, the production of oil and gas, and oilfield maintenance, which includes storing oil and gas.

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Global Oilfield Biocides Market: Growth Drivers 

The growth of the global oilfield biocides market can majorly be attributed to the growing demand for the petroleum based products. For instance, India would have the greatest rate of growth in the world for petroleum products such as gasoline and diesel, with a 7.73 percent increase in demand in 2023. This rise in petroleum products is further anticipated to boost the adoption of hydraulic technology in oil extraction, hence further boosting the market growth. In hydraulic fracturing operations, bacterial management is required to prevent excessive biofilm formation downhole that could cause blockage and therefore hinder gas extraction. Hence the adoption for oilfield biocides is expected to be boosted in hydraulic technology. In addition, it is predicted that the market would rise owing to the increased use of oilfield biocides for a variety of tasks, including the treatment and transportation of crude oil, drilling protection, generated water treatment, pipeline pigging, and others. For instance, in 2020, 30 oil pipelines were being built while over 650 operational pipelines were observed.

The global oilfield biocides market is also estimated to grow majorly on account of the following: 

• Growing Expenditure on the Growth and Expansion of Oil and Gas Exploration
• Rising Focus Towards Fracking and Oil Recovery Activities
• Surge in Extraction of Oil and Gas

Global Oilfield Biocides Market: Restraining Factor 

During the forecast period, more vigorous action from governments around the world is anticipated to speed up the switch to renewable energy. Owing to the pandemic and the ensuing profound changes it brought about in the oil and gas industry, an increasing number of nations are now concentrating on the possibility for long-term recovery as a way to quicken the transition to a low-carbon future. Additional fuel efficiency improvements, significantly higher electric vehicle adoption, and new restrictions to limit oil usage in the power sector are expected to lower overall oil demand during the projected period. Hence, these elements are anticipated to lower the demand for crude oil and impede the expansion of the market.

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Global Oilfield Biocides Market Segmentation 

• By Type {THPS Tetrakis Hydroxymethyl Phosphonium Sulfate), TTPC (Tributyl Tetradecyl Phosphonium Chloride), QAC (Quaternary Ammonium Compounds), DBNPA (2-Dibromo-3-Nitrilopropionamide), and Others}

Owing to its extensive use in slurries, the paper & coating sector, and slurries, the DBNPA segment is predicted to have the significant position in the global oilfield biocides market, over the forecast period. DBNPA is used as a crucial biocide in water applications, according to a report by the National Library of Medicine (NLM), owing to its rapid chemical breakdown and instant antibacterial activity. Hence its use is expected to boost further boosting the market growth.

• By Application (Downstream, Midstream, and Upstream)
• By Region

The North America oilfield biocides market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions, backed by presence of multiple key companies and large consumer base, growing production of shale oil, and rise in oil production activities in the region. For instance, oil production in North America was projected to reach 20 million barrels per day by 2020. Furthermore, during the past few decades, the region has seen a major increase in gas-related operations. Hence these factors are estimated to drive the growth of the market in this region.

The market research report on global oilfield biocides also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). 

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Key Market Players Featured in the Global Oilfield Biocides Market 

Some of the key players of the global oilfield biocides market are Evonik Industries AG, Baker Hughes Company, CES Energy Solutions Corp., Albemarle Corporation, Zirax Limited, Flotek Industries, Inc., Huntsman Corporation, Chevron Phillips Chemical Company, LLC, Gumpro Drilling Fluids Pvt. Ltd., Big Oil Co., and others. 

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