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Drilling Fluids Market Size [2021-2028]

Fortune Business Insights

Drilling fluid companies mentioned are Baker Hughes, Schlumberger Limited, Tetra Technologies Inc., Halliburton Inc., Global Drilling Fluids and Chemicals Ltd., Newpark Resources Inc., Geo Drilling Fluid, AES Drilling Fluids, National Oilwell Varco, M&D Industries of Louisiana, Eco Drilling Fluid, Star Drilling Fluid, Scomi Energy Services Bhd (SESB), Universal Drilling Fluids, Gumpro Drilling Fluids Pvt., Ltd. and IRO Oil Drilling Chemical Co., Ltd.

Pune, India, July 19, 2022 (GLOBE NEWSWIRE) — The world drilling fluids market is expected to experience considerable growth in the coming years, driven by growing demand for gas and oil. Fortune Business Insights, in a report titled, “Drilling Fluids Market Size, Share and Global Trend by Fluid System (Water-Based Fluid System, Oil-Based Fluid System, Synthetic-Based Fluid System ), by Application (Onshore, Offshore) and Geography Forecast to 2029,” states that many governments as well as private organizations have started investing large sums in the drilling fluids industry. This is mainly due to the development existing wells and hydrocarbon exploration.

Drilling fluids play an important role in maximizing wellbore production and increasing drilling capacity. These factors are expected to propel the global drilling fluids market over the forecast period.

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Report Highlights-

The report categorizes the global drilling fluids market based on application, fluid system, and geography. In terms of fluid system, the market is further segmented into water-based fluid system, synthetic-based fluid system, and oil-based fluid system. By application, the market is split into onshore and offshore. However, synthetic and oil-based fluid systems are considered major environmental threats due to the presence of toxic elements in them. This leads to the contamination of nature and is expected to hamper the growth of the global drilling fluids market.

The report is based on extensive research on the market and its growth parameters including drivers, restraints, challenges, and opportunities in the market. It also includes the segmentation chart, along with a list of market dominating segments and their attributed factors. The report highlights significant industry developments, current Asset Integrity Management market trends, and other interesting insights offered by the market. For more market information, log on to the company’s website.

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Regional analysis:

Extensive Drilling Operations Likely to Boost the Market in Asia-Pacific

The global drilling fluids market is geographically divided into Latin America, North America, Asia-Pacific, Middle East & Africa, and Europe. Of these, North America currently leads the global drilling fluids market. This is because the region has invested heavily in offshore exploration. According to Fortune Business Insights, the drilling fluids market in the United States is expected to show notable growth during the forecast period. Indeed, the region manages pipeline projects to explore hydrocarbons in order to meet the growing demand. Asia-Pacific, on the other hand, has seen moderate growth over the past decade and the market is expected to grow steadily. The maximum share of hydrocarbon production is held by China, worldwide. Existing wells for production growth and numerous drilling operations for examination of new oil wells are expected to drive the drilling fluids market in Asia Pacific. Russia is one of the main gas and oil exporters in Europe. Most of the countries in the European continent are growing at a rapid pace due to the company’s presence with a leading conglomerate.

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Report Information:

The Drilling Fluids Market analysis covers in-depth information about major industry players.

  • Porter’s Five Forces Analysis helps in analyzing the potential of buyers and suppliers and the competitive scenario of the industry for making strategies.

  • Major countries have been mapped based on their individual contribution to regional market revenue.

  • The report provides an in-depth analysis of the drilling fluids market over the forecast period (2022-2029).

  • The report outlines current market trends and future scenario of the Global Drilling Fluids Market to understand existing opportunities and potential investment pockets.

  • The main drivers, constraints and opportunities and their detailed impact analysis are explained in the study.

Competitive analysis:

Key players are focusing on joint ventures to establish a stronghold in the overall market

Scomi Energy Services Bhd, a Malaysia-based management services company, won contracts worth US$150 million in March 2019 from Kuwait Oil Company. Its main objective is to provide mud engineering services and mud products for development drilling and deep drilling. Uzma Bhd, an international oil and gas services company, based in Malaysia, signed a five-year contract with Petronas Carigali, a Malaysian company, in July 2018 for the supply of drilling fluid and other services. Tetra Technologies Inc., a geographically diversified oil and gas services company, signed a development agreement with Halliburton, a global oil services company in July 2018. It was entered into to distribute and sell TETRA drilling fluid CS Neptune.

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List of actors operating in drilling fluid market are:

  • hugue baker

  • Schlumberger Limited

  • Tetra Technologies Inc.

  • Halliburton Inc.

  • Global Drilling Fluids and Chemicals Ltd.

  • Newpark Resources Inc.

  • Geo drilling fluid

  • AES drilling fluids

  • Varco National Oil Well

  • M&D Industries of Louisiana

  • Eco-friendly drilling fluid

  • Star Drilling Fluid

  • Scomi Energy Services Bhd (SESB)

  • Universal drilling fluid

  • Gumpro Drilling Fluids Pvt. ltd.

Drilling Fluids Market Segmentation:

By type:

  • water-based

  • Oil based

  • synthetic based

  • Others

Per application:

Contents:

1. Introduction

1.1. Search scope

1.2. Market segmentation

1.3. Research Methodology

1.4. Definitions and assumptions

2. Executive Summary

3. Market dynamics

3.1. Market factors

3.2. Market constraints

3.3. Market opportunities

4. Key information

4.1. Key Industry Developments – Mergers, Acquisitions and Partnerships

4.2. Porter’s Five Forces Analysis

4.3. SWOT analysis

4.4. Technological development

4.5. Value chain analysis

4.6. Impact of COVID-19 on the drilling fluids market

5. Global Drilling Fluids Market Analysis, Outlook and Forecast, 2017-2029

5.1. Main results/summary

Continued…

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