The report categorizes the global clear brine fluids market by product, which includes potassium chloride, calcium bromide, calcium chloride, sodium chloride, and sodium bromide. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increasing demand from the oil and gas industry
The increased use of clear brine fluids has increased productivity in the oil and gas industry. Clear brine fluids are industrial fluids that are primarily used as drilling fluids in the oil and gas industry. Clear brine fluids play a significant role in completion and remedial work. The increase in the number of rig counts over the period has a positive impact on the growth of the market.
According to Kurva Samba Sivudu, a lead analyst at Technavio for specialty chemicals research, “The solid-free nature of clear brine fluids and the controlled high densities enable their extensive use in the oil and gas industry by contributing to the stabilization of sensitive formations. Increased drilling activities in the oil and gas industry have contributed to the significant growth of the clear brine fluids market.”
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Market trend: exploration of shale reserves
The exploration of shale gas reserves has increased the demand for drilling activities and the demand for increased productivity, thereby minimizing the losses. This has driven the demand for clear brine fluids. Increasing investment in shale gas reserves in emerging economies and in the Americas will contribute to the growth of the clean brine fluids market during the forecast period.
Market challenge: fluctuations in the price of crude oil
The market for clear brine fluids is expected to follow the dynamics similar of crude oil, such as the price. As the demand for clear brine fluids is generated from the oil and gas industry and through drilling activities, the price fluctuation of crude oil is expected to impact the market for clear brine fluids market.
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Key vendors in the market
- TETRA Technologies
The global clear brine fluids market is moderately concentrated with the presence of a few multinational players. The threat of new entrants to the market is relatively low because of the high cost involved in establishing new manufacturing plants. Competitors are investing in R&D to develop innovative and unique products. Since the market is concentrated, the competition among players is intense.
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