Offshore Drilling Fluids Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC564

Introduction

Drilling fluids, also known as drilling mud, assume a significant part in drilling activities in mineral extraction, oil and gas extraction, and bore wells. These drilling fluids are utilized to evacuate cuttings, grease up and cool the drilling bits, control the formation pressure and keep up the stability of well. In addition to this, the offshore drilling fluids are used as shale inhibitors, corrosion inhibitors, defoamers, emulsifiers, filtration reducers, breakers, biocides and weighting operators, with particular additives. The drilling fluids are basically of four types viz, water-based, oil-based, synthetic and pneumatic fluids.

Market Dynamics

Expanding support to manage the energy demand predominantly from North America and Europe combined with developing number of profound water discoveries in Persian Gulf and Pacific areas is anticipated to drive the demand for offshore drilling fluids market over the forecast period. The manufacturing companies are moving their emphasis on growing new solutions in light of nanotechnology to beat mechanical and natural challenges.

Expanded maintenance costs and environmental dangers related with offshore areas, have urged the companies to deploy mud for cost-effective E&P exercises. Developing interest for expanding the production rates, productivity and mitigating gas related capital expenditures are required to drive the market for offshore drilling fluids in the near future. Increasing number of progressing ventures in the Middle East and Africa including, Maydan Mahzam and Bul Hanine fields are anticipated to drive the demand throughout the forecast period.

Market Classification and Overview

The global offshore drilling fluids market is bifurcated on the basis of fluid type, and geography. On the basis of fluid type, the market is classified as water-based, oil-based, synthetic and pneumatic fluids. Water-based fluid is expected to hold the major share in the global market, owing to the increasing demand for environment-friendly products. The advancement in oil and gas industries in rising economies is expected to drive the growth of global market throughout the years. In addition to this, increasing government spending for improvement in oil and gas sector is expected to increase the demand for offshore drilling fluids market over the forecast period.

Regional Overview

The market for offshore drilling fluids is segmented into regions such as North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). North America was the major contributors to the growth of offshore drilling fluids market in 2015 owing to the upsurge in shale gas production. Middle East and Asia-Pacific regions are anticipated to collectively hold a significant share in the global market followed by North America. The market for drilling fluids in Middle East and Africa is further projected to witness highest growth in coming years owing to rapid industrialization and growth in oil production in the region.

Report Coverage

Market

Offshore Drilling Fluids Market

Analysis Period

2015 – 2026

Historic Data

2015 – 2016

Base Year

2017

Forecast Data

2018 – 2026

Market Stratification

Fluid Type, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

General Electric, Baker Hughes, TETRA Technologies, Halliburton, National Oilwell Varco, Weatherford International, Newpark Resources, and Schlumberger are the key players operating in the global offshore drilling fluids market.

Market Segmentation

Market By Fluid Type

·         Water-based

·         Oil-based

·         Synthetic

·         Pneumatic

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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