Drilling Fluid Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

 

Drilling fluid is a mixture of chemicals that is distributed throughout the wellbore. Drilling fluid formulates a critical constituent of drilling system as it equilibriums the hydrostatic force of well, gets the cutting from the end of hole to the surface, and lubricates the drill bit. The careful optimization and monitoring of drilling fluid is very grave in decreasing the non-performance drilling time, therefore making oil and gas well drilling cost-effective. The corporations are concentrating on evolving drilling fluid support system. The drilling fluid support system comprises software which has preloaded algorithms that permits imitation of drilling fluid for diverse conditions of well bore.

 

 

Increase in oil and gas exploration activities and drilling of unconventional hydrocarbon reserves are majorly driving the growth of this market. In addition, development of drilling fluids for high-pressure, high-temperature (HPHT) and ultra-deep wells coupled with development of drilling fluid support system are also contributing to the growth of this market. Impact of drilling fluid on environment and stringent government regulation are impeding the growth of this market. Reuse of drilling fluids and reduction of non-production time are the key trends in global drilling fluids market. In addition, the development of biodegradable fluids and development of advanced drilling fluid additives are expected to propel the growth of this market.

 

On the basis of type, in 2016, the water-based drilling fluid was the largest segment as it is an economical option over other drilling fluids. In addition, the fastest growing segment throughout the forecast period was non-aqueous fluids. The superior thermal stability of non-aqueous fluids is expected to drive the growth of drilling fluids in upcoming period. By geography, North America dominated the drilling fluid market and is expected to maintain its dominance throughout the forecast period. The increasing drilling activities and shale boom in Gulf of Mexico will surge the trade of drilling fluids in the region. In 2016, the second largest share was accounted by Middle East and Africa in global drilling fluid market as chief oil and gas manufacturing countries are located in this region.

 

Report coverage

Market	Global Drilling Fluid Market
Analysis Period	2013 – 2023
Historic Period	2013 – 2015
Base Year	2016
Forecast Data	2017 – 2023
Market Stratification	Type, Location, Geography
Regional Scope	North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Rest of the World (RoW)
Report Coverage	Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis

 

The market research study on “Drilling Fluid Market (Type: Water-based Fluid, Non-aqueous Fluid, Pneumatic Fluid, Others; Location: Onshore, Offshore) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2017 – 2023” offers a detailed study on the drilling fluid market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact analysis are provided. Information about Porter's five forces analysis is also mentioned. The report provides insight on global drilling fluid market, its type, location, and major geographic regions. The report covers basic development policies and layouts of technology development processes. 

 

Secondly, the report covers the global drilling fluid market size, and the segment markets by type, location, and geography along with the information on companies operating in the market. The drilling fluid market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Rest of the World (RoW). For each region, the market sizes for different segments have been covered under the scope of report. There are a large number of drilling fluid manufacturers present in the market. Some of the major manufacturers include Schlumberger, Chevron Phillips Chemical Company PLC, Halliburton Technology Center, Tetra Technologies, Inc., Baker Hughes, GE Company, Lubrizol, Scomi Group Bhd, Global Drilling Fluids and Chemicals Limited, and Anchor Drilling Fluid among others.