The report "Drilling and Completion Fluids Market by
Application (Onshore and Offshore), Fluid System (Water-Based System, Oil-Based
System, Synthetic-Based System), Well Type (Conventional and HPHT), and Region
- Global Forecast to 2023", the
The global drilling & completion fluids market is projected to reach a
market size of USD 12.76 Billion in 2023 from an estimated USD 9.62 Billion in
2018, at a CAGR of 5.82% during the forecast period. This growth can be
primarily attributed to the increase in drilling activities for onshore and
offshore, and rise in shale gas exploration.
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The key players in drilling and completion fluids market have undertaken merger and acquisition activities to expand their market share.
Browse and in-depth TOC on “Drilling and
Completion Fluids Market”
79 – Tables
36 – Figures
135 – Pages
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TOC:
The onshore segment is
expected to hold the largest share of the drilling & completion fluids
market, by application, during the forecast period
The onshore application segment led the drilling & completion fluids
market in 2017 and is projected to dominate the market during the forecast
period. As the majority of global oil and gas reserves are present onshore, it
accounts for larger share of the total market. Drilling activities are on the
rise in more challenging onshore regions, owing to an increase in the demand
for oil & gas globally. The number of wells drilled onshore is drastically
large than wells drilled offshore in 2017.
Water-based fluid system is
expected to be the fastest-growing segment of the drilling & completion
fluids market
The water-based fluid system is the largest segment of drilling and
completion fluids market and is suitable for all applications including onshore
and offshore. Water-based fluids are cost-effective and eco-friendly as
compared to non-aqueous based fluids. Technological advancements have resulted
in the use of water-based fluids in challenging high-pressure high-temperature
conditions in deep and ultra-deepwater drilling activities. The discharge
policies for water-based fluids are also not very stringent across the world
due to the presence of less toxic chemicals. Thus, water-based fluid is the
fastest growing segment due to cost effectiveness, less toxicity, and easy
availability.
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Objectives of the
Study -
·
To define, describe, segment, and forecast the
drilling and completion fluids market by fluid systems, well type, application,
and region
·
To provide detailed information on the major
factors influencing the growth of the market (drivers, restraints,
opportunities, and industry-specific challenges)
·
To strategically analyze the drilling and
completion fluids market with respect to individual growth trends, future
expansions, and contribution to the market
·
To forecast the expansion of the drilling and
completion fluids market in the main regions (North America, Europe, the Middle
East, Africa, Asia Pacific, and South America)
·
To analyze market opportunities for stakeholders
and details of a competitive landscape for market leaders
·
To analyze competitive developments such as
contracts & agreements, mergers & acquisitions, new product
developments, and research and development (R&D) in the drilling and
completion fluids market
North America: The leading
market for drilling & completion fluids
The North America drilling and completion fluids market
is driven by the increase in oilfield discoveries and drilling activities
across the region. The rise in the exploration of shale gas, tight oil, and
other unconventional resources has increased the demand for drilling and
completion fluids. The presence of vast shale gas reserves in the North
American region has resulted in improved offshore activities in this region.
The offshore exploration activities in the Gulf of Mexico are on the rise,
which has led the companies to expand within the region. North America is also
at the forefront of forming policies and regulations for the prevention of the degradation
of the environment.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
