DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "North America Drilling and Completion Fluids Market Outlook - Market Analysis by Geography, Fluid Type, Deployment (Onshore & Offshore), Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2016 - 2021)" report to their offering.
North America drilling and completion fluids market is expected to reach $9.29 billion by 2020, up from $5.49 billion in 2013.
Europe and Asia-Pacific are growing rapidly in terms of market demand. Demand is high particularly in some countries such as China, India, United Kingdom, and the Netherlands. The North Sea region presents a decent market opportunity for drilling and completion fluids segment as its new exploration activity is at an all-time high primarily because of the decreasing production levels since past few years and going into much deeper waters to find new oil and gas reserves.
Regions such as South and Central America and Africa are expected to share a decent share of market demand in the coming decade although there are some factors restraining the oil and gas activity in these regions. Africas oil and gas industry has suffered from various political and social scenarios such as internal wars and corruption, the situation is safe enough these days. There was a problem of piracy as well, but it has been handled well by authorities and is now dwindled. Also, there is a tremendous improvement in security across different countries in the region, helping the companies to look into the region again, thus boosting the oil and gas industry.
Drivers, Constraints & Opportunities
- Shale Boom
- Increased Exploration Activity
- Exploration from Ageing Reservoirs
- Political Issues Causing Market Instability
- Environmental Concerns
New Drilling Fluid R & D Activities
Key Company Analysis
- Anchor Drilling Fluids Inc.
- Chevron Phillips Chemical Company Llc.
- Geo Drilling Fluids Inc
- Hitech Drilling Fluids Ltd.
- National Oilwell Varco Inc.
- Tetra Technologies Inc.
- Canadian Energy Services
- Global Drilling Fluids & Chemicals Ltd.
- Baker Hughes Inc.
- Halliburton Co.
- Weatherford International Ltd
- Royal Dutch Shell Plc
- Schlumberger Ltd
- Statoil ASA
For more information about this report visit http://www.researchandmarkets.com/research/nnmhl8/north_america