(PRWEB) March 10, 2014
The report "Drilling Fluids (Drilling Mud) Market and Completion Fluids Market: by Types (Water-Based Systems, Oil-Based Systems, Synthetic-Based Systems, Other Based Systems), Application Areas (Onshore and Offshore), & Geography - Global trends and forecast to 2018", defines and segments the global drilling fluids and completion fluids market with analysis and forecast of the revenue. The drilling fluids and completion fluids market will grow from an estimated $10.6 billion in 2013 to $15.2 billion by 2018, with a CAGR of 7.5% from 2013 to 2018.
Browse 106 market data tables and 48 figures spread through 276 pages and in-depth TOC on "Drilling Fluids (Drilling Mud) Market and Completion Fluids Market"
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North America: Largest Market for Drilling Fluids and Completion Fluids
North America holds the largest market for drilling fluids and completion fluids due to the presence of half of the world’s oil and gas reserves. U.S. has the maximum number of shale reserves as compared to other regions. The offshore activities in the Gulf of Mexico are on the rise which supports the companies to expand within the region due to which the top drilling and completion fluids manufacturers are based in North America. Additionally, North America is also in the forefront when it comes to laying out policies and regulations for the prevention of the degradation of the environment.
Water-based Systems: Biggest Market by Type
Water-based systems are the single largest drilling fluids and completion fluids base used across the globe and are suitable for all the application areas including onshore and offshore. The water-based fluids are cost effective and eco friendly as compared to non-aqueous based fluids. Research activities have resulted in the finding of a new type of water-based fluids which can be used in challenging high pressure high temperature deep and ultra deep water drilling activities. The discharge policies for water-based fluids are also not very stringent across the world due to the presence of less toxic chemicals. These points including reasonable price, less toxicity, and easy availability make water-based fluids a preferred option over other types of non-aqueous drilling and completion fluids.
Nanotechnology: Upcoming Drilling Fluids and Completion Fluids Technology
Huge investments have been made and extensive research has been carried out in order to develop non-toxic bio degradable drilling and completion fluids. Nanotechnology has been pursued for the designing of environmental friendly drilling fluids and completion fluids. Major companies have invested in developing such fluids. The drilling and completion fluid designed by using nanotechnology removes toxic metals like mercury, cadmium, and lead. The fluids with nanotechnology provide better thermal conductivity and have high heat transfer efficiency.
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