DUBLIN--(BUSINESS WIRE)--The "Drilling Fluids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026" report has been added to ResearchAndMarkets.com's offering.
According to International Energy Agency, approximately 65,176 wells were drilled for oil & gas in 2017. This has increased the demand for drilling fluids. High oil prices and greater cost efficiency in offshore projects are driving the demand for exploration activities. This, in turn, propels the demand for drilling fluids. Drilling fluids play a crucial role in oil & gas exploration activities. It is a mixture of water, oil, clay, and several chemicals. Drilling fluids are also known as drilling muds. This fluid performs numerous functions such as cooling the drill bit and lubricating its teeth while drilling, carrying drill cuttings to the surface, and reduces drill pipe stuck problems. Drilling fluids help maintain hydrostatic pressure to prevent formation fluids from entering the wellbore. Newly developed state-of-the-art drilling fluid treatments offer superior reliability with efficient results for the energy industry.
Implementation of stringent regulations to minimize harmful carbon emissions is propelling the demand for water-based muds and synthetic-based muds. Increase in offshore drilling activities has increased the consumption of drilling fluids. Therefore, governments of several countries are funding and supporting development and adoption of the latest technologies to manufacture environment friendly drilling fluids.
Several companies are actively developing synthetic-based muds for the use in complex geological formation. Rise in demand for water-based muds due to its cost effectiveness is expected to drive the global drilling fluids market during the forecast period. Developed and developing countries are investing significantly in offshore drilling. Demand for drilling fluids in Asia Pacific is gaining momentum due to the rise in offshore and onshore drilling activities, especially in countries such as China, India, Thailand, and Indonesia.
The report provides the actual size of the drilling fluids market for 2017 and an estimated size from 2018 to 2026. The global drilling fluids market has been provided in terms of volume and revenue. Market numbers have been estimated based on type and application of the drilling fluids market. Market volume and revenue have been provided in terms of global, regional, and country level markets.
- Drilling fluids are used in several functions such as control of downhole formation pressure, avoidance of damage to producing formation, cooling and lubrication of the drill bit, and scavenging cuttings generated by drill bit from boreholes. Drilling fluids are essential during drilling operations.
- Discovery of unconventional shale formation in the areas such as Bakken, Marcellus, and Texas, in the U.S. is boosting the demand for drilling fluids
- Countries in Europe, such as U.K., Norway, and Russia & CIS, have increased their expenditure on onshore and offshore drilling activities. This is propelling the augments demand for drilling fluids in the region.
- The consumption of drilling fluids is expected to be in demand owing to the drilling activities in the offshore areas in the North Sea, Gulf of Mexico, South China Sea, and Gulf of Oman.
Key Topics Covered:
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
2. Assumptions and Research Methodology
2.1. Report Assumptions
2.2. Secondary Sources and Acronyms Used
2.3. Research Methodology
3. Executive Summary
3.1. Market Snapshot
3.2. Top Trends
4. Market Overview
4.1. Market Indicators
5. Market Dynamics
5.1. Drivers and Restraints Snapshot Analysis
5.2. Porter's Five Forces Analysis
5.3. Value Chain Analysis
5.4. Regulatory Scenario
5.5. Price Trend Analysis
6. Global Drilling Fluids Market Analysis and Forecast, by Type, 2017-2026
6.2. Key Findings
6.3. Global Drilling Fluids Market Value Share (US$ Mn) Analysis and Forecast, by Type, 2017-2026
6.4. Global Drilling Fluids Market Attractiveness Analysis, by Type
7. Global Drilling Fluids Market Analysis and Forecast, by Application, 2017-2026
7.2. Key Findings
7.3. Global Drilling Fluids Market Value Share (US$ Mn) Analysis and Forecast, by Application,2017-2026
7.4. Global Drilling Fluids Market Attractiveness Analysis, by Application
8. Global Drilling Fluids Market Analysis, by Region, 2017-2026
8.1. Global Market Revenue and Growth Scenario, by Region, 2017
8.2. Key Findings
8.3. Global Drilling Fluids Market Value Share (US$ Mn) Analysis and Forecast, by Region, 2017-2026
8.4. Global Drilling Fluids Market Attractiveness Analysis, by Region
9. North America Drilling Fluids Market Analysis, 2017-2026
9.1. Key Findings
9.2. North America Drilling Fluids Market Value Share (US$ Mn) Analysis and Forecast, by Type
9.3. North America Drilling Fluids Market Value Share (US$ Mn) Analysis and Forecast,by Application
9.4. U.S. Drilling Fluids Market Forecast (US$ Mn), by Type
9.5. U.S. Drilling Fluids Market Volume (Thousand Bbls) and Value (US$ Mn) Forecast, by Application
9.6. Canada Drilling Fluids Market Forecast (US$ Mn), by Type
9.7. Canada Drilling Fluids Market Volume (Thousand Bbls) and Value (US$ Mn) Forecast, by Application
9.8. North America Drilling Fluids Market Attractiveness Analysis
10. Europe Drilling Fluids Market Analysis, 2017-2026
11. Asia Pacific Drilling Fluids Market Analysis, 2017-2026
12. Latin America Drilling Fluids Market Analysis, 2017-2026
13. Middle East & Africa Drilling Fluids Market Analysis, 2017-2026
14. Company Landscape
14.1. Global Drilling Fluids Market Share Analysis, by Company (2017)
14.2. Competition Matrix
14.5. Company Profiles
14.5.1. Schlumberger Limited
14.5.2. DowDuPont Inc.
14.5.4. Baker Hughes-a GE Company
14.5.5. Akzo Nobel NV
14.5.6. Weatherford International Plc.
14.5.7. Clariant International
14.5.8. Solvay S.A.
14.5.9. Gumpro Drilling Fluids Private Limited
14.5.10. Newpark Resources Inc.
14.5.11. Orean Hydrocarbons Middle East Inc.
14.5.13. Petrochem Performance Chemicals Ltd. LLC
14.5.14. National Oilwell Varco, L.P.
14.5.15. Royal Dutch Shell Plc.
15. Primary Research - Key Insights
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