Key players in the North America Drilling Fluid & Completion Fluid Market are Baker Hughes, Halliburton, Tetra Technologies, Inc., M-I SWACO, Anchor Drilling Fluids USA, Inc. & others.
(PRWEB) September 23, 2014
The global water-based drilling & completion fluids market report defines and segments the concerned market with analysis and forecast of revenue. The market is estimated to grow from $6,394.7 million in 2013 to $9,311.6 million by 2018, at a CAGR of 7.8% from 2013 to 2018.
Browse through the TOC of the global water-based drilling & completion fluids market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation in the market, and is supported by various tables and figures.
Water-based drilling fluids have fresh water, salt water or salt brine as the base fluid mixed with clay emulsions, natural suspensions, and hydro gels. Water-based drilling fluids are the most widely used systems, and are considered less expensive than oil-based fluids or synthetic-based fluids. Water-based drilling fluids can deliver cost-effective performance with minimal environmental impact.
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Continuous rise in deep water drilling activities and increased oil production, along with technological developments are driving the market. Technological developments have enabled the exploration activities to be carried out for unconventional resources, such as shale gas and coal bed methane. These explorations require sophisticated technologies, such as multistage hydraulic fracturing of horizontal wells. These activities are carried out with the use of various formulated drilling fluids which are required to maintain the stability of wellbore, pump pressure, and avoid friction & corrosion. Water-based drilling fluids are one of the most widely used drilling fluids because of their technical properties, such as higher heat capacity, better flow rate, and low viscosity.
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The economic advantage of using water-based drilling fluid is significant, as they are easily and extensively available throughout the globe. The water-based drilling fluid reduces the environmental threats, and it is less expensive vis-a-vis oil-based and synthetic-based drilling fluids. However, since water-based drilling fluid is highly corrosive, corrosion inhibitors must be added to the fluid. Besides, oil tapping is also affected to a certain extent due to the use of water-based fluids.
The market is segmented and forecast on the basis of geography, which includes North America, Latin America, Europe, the Middle East, Africa, and Asia-Pacific.
This report includes market share and value chain analyses, along with the market metrics, such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key players in the market.
Browse through the market data tables, figures and detailed ToC on the “North America Drilling Fluid & Completion Fluid Market”.
Europe Drilling Fluid & Completion Fluid Market
The European drilling fluid and completion fluid market was valued at $1,313.87 million in 2013 and is forecasted to reach $1,766.42 million by 2018, growing at a CAGR of 6.10% from 2013 to 2018. The water-based system in drilling fluid and completion fluid accounted for around $810 million in 2013.
Increase in drilling and exploration activities for shale and other resources has led to widespread consumption of drilling fluids, which forms one of the reasons for the growth of the drilling and completion fluid market in Europe. The majority of drilling and exploration activities in Europe are carried out in Russia and the North Sea adjoining Norway and the U.K.
Latin America Drilling Fluid & Completion Fluid Market
Increase in drilling and exploration activities for shale and other resources has led to widespread consumption of drilling fluids, which forms one of the reasons for the growth of the drilling and completion fluid market in Latin America. Latin American countries such as Venezuela and Brazil, which are part of the Golden Triangle, are seeing tremendous increase in offshore drilling activities.
The MMM report ‘Latin America Drilling Fluid and Completion Fluid Market Forecast, 2013-2018’ analyzes the drilling fluids market by base fluid types, application, and geography. In terms of geography, the report is segmented into countries such as Mexico, Brazil, Venezuela, Argentina, and others. Types of drilling and completion fluid markets include water-based systems, oil-based systems, synthetic-based systems, and others (aerated foam, gaseous agents, and air as a base fluid mixed with various additives). The application areas covered are onshore and offshore areas.
Asia-Pacific Drilling Fluid & Completion Fluid Market
Rise in drilling for shale oil and gas reserves and high drilling activities in the Asia-Pacific region are the major reasons for the growth of the drilling and completion fluid market. Regions such as Australia and China have huge shale reserves where drilling activities are starting; thus, they are set to become huge markets for drilling and completion fluids in the coming years.
The MMM report, ‘Asia-Pacific Drilling Fluid and Completion Fluid Market Forecast, 2013-2018’, analyzes the drilling fluids market by base fluid types, application, and geography. In terms of geography, the report is segmented into countries such as China, Australia, Thailand, India, and Indonesia. Types of drilling and completion fluid markets include water-based systems, oil-based systems, synthetic-based systems, and others (aerated foam, gaseous agents, and air as a base fluid mixed with various additives). The application areas covered are onshore and offshore areas.
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