Increasing drilling activities on account of growing energy demand is expected to drive global clear brine fluids market.
San Francisco, California (PRWEB) January 12, 2015
The global clear brine fluids market is expected to reach USD 2.03 billion by 2020, according to a new study by Grand View Research, Inc. Increase in drilling activities, particularly in the U.S., Brazil, China and Western Africa, is expected to remain a key driving factor in global clear brine fluids market. Increasing deep water exploration investment, particularly in “The Golden Triangle” is also expected to have a positive influence on the market growth over the next six years. Stringent environmental regulations across the U.S. and Europe on account of ground water contamination caused by clear brine fluids is expected to remain a major challenge for market participants.
Browse complete research report on Global Clear Brine Fluids Market at http://www.grandviewresearch.com/industry-analysis/clear-brine-fluids-market
Potassium chloride was the largest product segment and accounted for 24.3% of total market volume in 2013. Wide range of chloride applications is expected to remain a key driver for this segment. Potassium chloride is also expected to witness the highest growth rate of 10.3% from 2014 to 2020. Global calcium chloride based clear brine fluids are expected to reach a market worth USD 72 million by 2020. The chlorides and bromides clear brine fluids have been substituting conventional drilling mud on account of their higher efficiency and cost effectiveness.
Further key findings from the study suggest:
- Global clear brine fluids market demand was 1,010.2 kilotons in 2013 and is expected to reach 1,977.5 kilotons by 2020, growing at a CAGR of 10.1% from 2014 to 2020.
- North America emerged as the leading regional market for clear brine fluids and accounted for 64.9% of total market volume in 2013. Increasing drilling activities in the U.S. on account of the shale gas boom and in the Gulf of Mexico remained a key driving factor in the regional market.
- Asia Pacific is expected to witness the highest growth at 11% over the next six years. Increasing drilling activities in China on account of the presence of a large amount of untapped shale gas in place is expected to remain a key driving factor in the regional market. European clear brine fluids market is expected to reach USD 162.3 million by 2020, growing at a CAGR of 12% from 2014 to 2020.
- Global clear brine fluids market is moderately concentrated with top four companies including M-I SWACO, Halliburton, Israel Chemicals Ltd., TETRA Technologies accounted for over 50% of the total market. Other market participants include Albemarle Corporation, Baker Hughes Inc., Zirax Ltd., The Egyptian Mud Engineering & Chemicals Co., GEO Drilling Fluids Inc., Newpark Resources Inc. And Chemtura Corporation. Clear brine fluids market recently witnessed a large number of mergers and acquisitions leading to significant opportunities for market participants.
For the purpose of this study, Grand View Research has segmented the clear brine fluids market on the basis of product and region:
Global Clear Brine Fluids Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Potassium Chloride
- Calcium Chloride
- Sodium Chloride
- Potassium Bromide
- Calcium Bromide
- Sodium Bromide
Global Clear Brine Fluids Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2012 - 2020)
- North America
- Asia Pacific
More Information on Global Clear Brine Fluids Market at http://www.grandviewresearch.com/industry-analysis/clear-brine-fluids-market
About Grand View Research
Grand View Research, Inc. Is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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