San Francisco, 15
February, Drilling Fluids Market Analysis By Product
(Oil-Based Fluids (OBF), Synthetics-Based Fluids (SBF), Water-Based Fluids
(WBF)), By Application, And Segment Forecasts, 2018 – 2025.
The global drilling fluids market is expected to reach USD
10.01 billion by 2025, according to a new report by Grand View Research, Inc.
Increasing upstream spending to sustain oil production targets is anticipated
to drive oil & gas industry drilling activities over the forecast period.
Technological advancements to modify the fluid rheology for efficient
extraction in different formations have created lucrative avenues for industry
participants.
Increased maintenance costs and
environmental risks associated with offshore locations, have urged companies to
deploy drill mud for cost-efficient E&P activities. Growing demand for
increasing production rates, efficiency and mitigating gas related capital
expenditures is expected to drive drilling fluids demand in offshore activity,
over the long term. Growing number of ongoing projects in the Middle East and
Africa including, Maydan Mahzam and Bul Hanine fields are projected to drive
product demand over the next nine years.
WBF emerged as a leading
drilling fluid product segment covering 50.4% market revenue share in 2016. The
OBF segment is expected to lose share over the forecast period and account for
26% of the total industry value by 2025
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Report On Drilling Fluids Market Analysis:
Further key findings from the report suggest:
·
The global drilling fluids
market is estimated to grow at a CAGR of 3.7% from 2017 to 2025
·
The onshore application segment
is anticipated to reach 5.9 billion by 2025 over the upcoming years
·
Offshore drilling activities is
projected to emerge as the fastest segment at a CAGR of 4.1% from 2017 to 2025
·
North America was the leading
regional segment accounting for over 25% in 2016 and is expected to witness a
similar trend over the forecast period
·
Asia Pacific is anticipated to
emerge as the fastest consumer at a CAGR of 4.6% from 2017 to 2025
·
Russia onshore drilling fluids
industry in 2016 was valued at USD 627.5 million and is projected to grow at a
CAGR of 2.8% from 207 to 2025
·
Demand for WBF product in the
Venezuela was valued at USD 113.94 million in 2016 and is expected to grow at a
CAGR of 4.1% from 2017 to 2025
·
Drilling fluids market share in
Kuwait is expected to grow at a CAGR of 4.7% over the forecast period and to
reach USD 203.5 million by 2025
·
Offshore drill mud industry in
Nigeria was valued at USD 53 million in 2016 and is anticipated to be the
fastest application over the upcoming years
·
Major players include Newpark
Resources, Halliburton, Weatherford International, Baker Hughes, National
Oilwell Varco and Schlumberger
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the
global drilling fluids market on the basis of product, application and region:
Drilling Fluids Product Outlook
(Revenue, USD Million, 2014 - 2025)
·
Oil based fluids
·
Water based fluids
·
Synthetic based fluids
·
Others
Drilling Fluids Application
Outlook (Revenue, USD Million, 2014 - 2025)
·
Onshore oil & gas
·
Offshore oil & gas
Drilling Fluids Regional
Outlook (Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S
o
Canada
o
Mexico
·
Europe
o
UK
o
Russia
o
Norway
o
Azerbaijan
o
Kazakhstan
·
Asia Pacific
o
China
o
India
o
Indonesia
o
Malaysia
o
Pakistan
o
Myanmar
o
Singapore
o
Australia
o
Vietnam
o
Thailand
·
Middle East
o
Saudi Arabia
o
UAE
o
Qatar
o
Kuwait
o
Iran
o
Iraq
·
Africa
o
Algeria
o
Libya
o
Nigeria
o
Gabon
o
Zaire
·
Central & South America
o
Brazil
o
Argentina
o
Venezuela
o
Columbia
o
Peru
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Press Release of this Report: www.grandviewresearch.com/press-release/global-drilling-fluids-market
About Grand
View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com/
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