Drilling Fluids refers to the liquid and gaseous fluid or mixtures of fluids and solids used in drilling operations. They are widely used to provide lubrication, cooling to the drill bit, remove cuttings from the well, control formation pressure, seal permeable formations, and maintain wellbore stability in drilling operation for extraction of hydrocarbons from the earth surface. Drilling fluids are also known as drilling mud. Drilling fluids are generally classified as water based, oil based and synthetic fluids.
Drilling fluids market for oil & gas industry is expected to gain significant growth with increasing drilling activities for the production of hydrocarbons. Growing energy demand from various industries such as power, manufacturing and transportation is projected to augment the growth of drilling fluids during the forecast period. Moreover, growing drilling activities on offshore reserve along with growing exploration of non-conventional shale gas reserves is expected to fuel the demand for drilling fluids over the forecast period (2021-2029). However, slowdown oil and gas industry, increasing use of alternative energy sources such as solar, wind along with environmental concerns over usage and disposal of drilling fluids is anticipated to restrain the growth of drilling fluids market during the forecast period (2021-2029).
North America is expected to largest region in global drilling fluids market which is anticipated to contribute highest revenue share owing to growing drilling activities for the production of shale gas coupled with increasing offshore drilling activities in U.S. Gulf of Mexico is expected to augment the growth of drilling fluids market in the region. Middle East & Africa is projected to be the second largest region due to increasing oil production coupled with high oil & gas reserves in the region.
Global drilling fluids market is projected to be valued at US$ 10.9 Bn by the end of 2021 and is expected to expand at a CAGR 5.1% during the forecast period 2021-2029.
The purpose of this strategic research study titled “Global Drilling Fluids Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2021 - 2029” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global drilling fluids market.
On the basis of product type, the global drilling fluid market can be segmented into oil based drilling fluids, water based drilling fluids and synthetic based drilling fluids.
Among all product type, water based segment is expected to be the largest and fastest growing segment due to easy availability and cost effectiveness of water based drilling fluids coupled with its eco-friendly properties anticipated to fuel the demand of water based fluids during the forecast period. Followed by it, oil based fluid is expected to be the second largest segment by virtue of wide application in exploration of various type of reserves. The segment is projected to register moderate growth over the forecast period (2021-2029). However, environmental concerns coupled with regulatory policies over water contamination especially in offshore drilling is anticipated to hamper the growth of the segment over the forecast period.
On the basis of application, the global drilling fluid market can be segmented into onshore reserves and offshore reserves.
Among all application, onshore segment is anticipated to be the most dominant segment owing to increasing exploration and production of conventional reserves coupled with high number of proven reserves is expected to fuel the demand for drilling fluids over the forecast period. Followed by it, offshore segment is expected to be the fastest growing segment by virtue of shale gas from the matured and abandoned reserves coupled with increasing deep water drilling activities especially in U.S Gulf of Mexico, shale and tight oil production in Canada and discovery of ultra deep water drilling reserves in North Sea, South China Sea and other regions of the globe. The segment is projected to register significant growth over the forecast period (2021-2029).
Global drilling fluids market is segmented on the basis of geography. North America is expected to largest region in global drilling fluids market which is anticipated to contribute highest revenue share owing to growing drilling activities for the production of shale gas coupled with increasing offshore drilling activities in U.S. Gulf of Mexico is expected to augment the growth of drilling fluids market in the region. Middle East & Africa is projected to be the second largest region due to increasing oil production coupled with high oil & gas reserves in the region. The segment expected to register moderate growth over the forecast period (2021-2029).
On the basis of product type, the global drilling fluid market can be segmented into oil based drilling fluids, water based drilling fluids and synthetic based drilling fluids.
Among all product type, water based segment is expected to be the largest and fastest growing segment due to easy availability and cost effectiveness of water based drilling fluids coupled with its eco-friendly properties anticipated to fuel the demand of water based fluids during the forecast period. Followed by it, oil based fluid is expected to be the second largest segment by virtue of wide application in exploration of various type of reserves. The segment is projected to register moderate growth over the forecast period (2021-2029). However, environmental concerns coupled with regulatory policies over water contamination especially in offshore drilling is anticipated to hamper the growth of the segment over the forecast period.
Among all application, onshore segment is anticipated to be the most dominant segment owing to increasing exploration and production of conventional reserves coupled with high number of proven reserves is expected to fuel the demand for drilling fluids over the forecast period. Followed by it, offshore segment is expected to be the fastest growing segment by virtue of shale gas from the matured and abandoned reserves coupled with increasing deep water drilling activities especially in U.S Gulf of Mexico, shale and tight oil production in Canada and discovery of ultra deep water drilling reserves in North Sea, South China Sea and other regions of the globe. The segment is projected to register significant growth over the forecast period (2021-2029).
Global drilling fluids market is segmented on the basis of geography. North America is expected to largest region in global drilling fluids market which is anticipated to contribute highest revenue share owing to growing drilling activities for the production of shale gas coupled with increasing offshore drilling activities in U.S. Gulf of Mexico is expected to augment the growth of drilling fluids market in the region. Middle East & Africa is projected to be the second largest region due to increasing oil production coupled with high oil & gas reserves in the region. The segment expected to register moderate growth over the forecast period (2021-2029).
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Drilling fluids market for oil & gas industry is expected to gain significant growth with increasing drilling activities for the production of hydrocarbons. Growing energy demand from various industries such as power, manufacturing and transportation is projected to augment the growth of drilling fluids during the forecast period. Moreover, growing drilling activities on offshore reserve along with growing exploration of non-conventional shale gas reserves is expected to fuel the demand for drilling fluids over the forecast period (2021-2029). However, slowdown oil and gas industry, increasing use of alternative energy sources such as solar, wind along with environmental concerns over usage and disposal of drilling fluids is anticipated to restrain the growth of drilling fluids market during the forecast period (2021-2029).
North America is expected to largest region in global drilling fluids market which is anticipated to contribute highest revenue share owing to growing drilling activities for the production of shale gas coupled with increasing offshore drilling activities in U.S. Gulf of Mexico is expected to augment the growth of drilling fluids market in the region. Middle East & Africa is projected to be the second largest region due to increasing oil production coupled with high oil & gas reserves in the region.
Global drilling fluids market is projected to be valued at US$ 10.9 Bn by the end of 2021 and is expected to expand at a CAGR 5.1% during the forecast period 2021-2029.
Purpose of the Report
The purpose of this strategic research study titled “Global Drilling Fluids Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2021 - 2029” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global drilling fluids market.
Target Audience
- Industry Investors
- Research Professionals
- Emerging Companies
- Drilling fluids manufacturing companies
- Oil & Gas exploration and production companies
- Oil Field Services Companies
- Research Institutes
USP and Key Offerings
The report titled “Global Drilling Fluids Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2021 - 2029” offers strategic insights into the drilling fluids market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on product type, reserve type and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading drilling fluids manufacturers, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
- Current and future market trends to validate the forthcoming attractive markets within oil & gas industry
- Market fuelers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Trailing 3-Year market size data (2019 - 2020)
- SRC (Segment-Region-Country) Analysis
On the basis of product type, global drilling fluid market is categorized into following types:
- Oil Based Fluids (OBF)
- Water Based Fluids (WBF)
- Synthetic Based Fluids (SBF)
On the basis of product type, the global drilling fluid market can be segmented into oil based drilling fluids, water based drilling fluids and synthetic based drilling fluids.
Among all product type, water based segment is expected to be the largest and fastest growing segment due to easy availability and cost effectiveness of water based drilling fluids coupled with its eco-friendly properties anticipated to fuel the demand of water based fluids during the forecast period. Followed by it, oil based fluid is expected to be the second largest segment by virtue of wide application in exploration of various type of reserves. The segment is projected to register moderate growth over the forecast period (2021-2029). However, environmental concerns coupled with regulatory policies over water contamination especially in offshore drilling is anticipated to hamper the growth of the segment over the forecast period.
On the basis of application type, global drilling fluids market for oil & gas is categorized into following types:
- Onshore
- Offshore
On the basis of application, the global drilling fluid market can be segmented into onshore reserves and offshore reserves.
Among all application, onshore segment is anticipated to be the most dominant segment owing to increasing exploration and production of conventional reserves coupled with high number of proven reserves is expected to fuel the demand for drilling fluids over the forecast period. Followed by it, offshore segment is expected to be the fastest growing segment by virtue of shale gas from the matured and abandoned reserves coupled with increasing deep water drilling activities especially in U.S Gulf of Mexico, shale and tight oil production in Canada and discovery of ultra deep water drilling reserves in North Sea, South China Sea and other regions of the globe. The segment is projected to register significant growth over the forecast period (2021-2029).
On the basis of geography, the global drilling fluids market is segmented into following categories,
- North America
- U.S.
- Canada
- Europe
- Russia
- U.K.
- Rest of Europe
- Asia Pacific
- Australia
- China
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- Rest of MEA
Global drilling fluids market is segmented on the basis of geography. North America is expected to largest region in global drilling fluids market which is anticipated to contribute highest revenue share owing to growing drilling activities for the production of shale gas coupled with increasing offshore drilling activities in U.S. Gulf of Mexico is expected to augment the growth of drilling fluids market in the region. Middle East & Africa is projected to be the second largest region due to increasing oil production coupled with high oil & gas reserves in the region. The segment expected to register moderate growth over the forecast period (2021-2029).
On the basis of product type, global drilling fluid market is categorized into following types:
- Oil Based Fluids (OBF)
- Water Based Fluids (WBF)
- Synthetic Based Fluids (SBF)
On the basis of product type, the global drilling fluid market can be segmented into oil based drilling fluids, water based drilling fluids and synthetic based drilling fluids.
Among all product type, water based segment is expected to be the largest and fastest growing segment due to easy availability and cost effectiveness of water based drilling fluids coupled with its eco-friendly properties anticipated to fuel the demand of water based fluids during the forecast period. Followed by it, oil based fluid is expected to be the second largest segment by virtue of wide application in exploration of various type of reserves. The segment is projected to register moderate growth over the forecast period (2021-2029). However, environmental concerns coupled with regulatory policies over water contamination especially in offshore drilling is anticipated to hamper the growth of the segment over the forecast period.
On the basis of application type, global drilling fluids market for oil & gas is categorized into following types:
- Onshore
- Offshore
On the basis of application, the global drilling fluid market can be segmented into onshore reserves and offshore reserves
Among all application, onshore segment is anticipated to be the most dominant segment owing to increasing exploration and production of conventional reserves coupled with high number of proven reserves is expected to fuel the demand for drilling fluids over the forecast period. Followed by it, offshore segment is expected to be the fastest growing segment by virtue of shale gas from the matured and abandoned reserves coupled with increasing deep water drilling activities especially in U.S Gulf of Mexico, shale and tight oil production in Canada and discovery of ultra deep water drilling reserves in North Sea, South China Sea and other regions of the globe. The segment is projected to register significant growth over the forecast period (2021-2029).
On the basis of geography, the global drilling fluids market is segmented into following categories
- North America
- U.S.
- Canada
- Europe
- Russia
- U.K.
- Rest of Europe
- Asia Pacific
- Australia
- China
- Indonesia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- Rest of MEA
Global drilling fluids market is segmented on the basis of geography. North America is expected to largest region in global drilling fluids market which is anticipated to contribute highest revenue share owing to growing drilling activities for the production of shale gas coupled with increasing offshore drilling activities in U.S. Gulf of Mexico is expected to augment the growth of drilling fluids market in the region. Middle East & Africa is projected to be the second largest region due to increasing oil production coupled with high oil & gas reserves in the region. The segment expected to register moderate growth over the forecast period (2021-2029).
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Table of Contents
1. Preface
2. Executive Summary
3. Global Drilling Fluids Market for Oil & Gas Industry Market Dynamics
4. Global Drilling Fluids Market for Oil & Gas Industry Size, By Product Type, 2019 - 2029
5. Global Drilling Fluids Market for Oil & Gas Industry Size , By Application, 2019 - 2029
6. Global Drilling Fluids Market for Oil & Gas Industry Size, By Geography, 2019 - 2029
7. Company Profiles
Companies Mentioned
- Anchor Drilling Fluids Inc
- AkzoNobel N.V
- BP PLC
- Baker Hughes Incorporated
- Canadian Energy Services
- Halliburton
- Schlumberger
- Royal Dutch Shell Inc.
- TETRA Technologies
- Weatherford
