The global drilling fluids and completion fluids market is expected to reach $15.2 billion by 2018, growing at a CAGR of 7.5% from 2013 to 2018.
Texas, Dallas (PRWEB) September 20, 2013
Drilling fluids and completion fluids are essential tools for conducting any drilling and exploration activities. They are used to avoid friction, provide lubrication, cool the wellbore, and transport rock cuttings to the surface. Every drilling activity requires drilling and completion fluids and they are used extensively across the globe. Drilling and completion fluids use different types of base fluids such as water-based systems, oil-based systems, synthetic-based systems, and other based systems. The use of drilling fluids and completion fluids base depends on the cost of the fluid, the desired performance, and environmental impact. The drilling and completion fluids market is directly dependent on drilling activities carried across the globe. Recent increase in oilfield discoveries and rise in drilling activities will drive the drilling and completion fluids market over the next five years. The increasing world energy demand and rise in population are putting pressure to drill at high depths and enter deep and ultra deep waters. These factors have been major drivers for the drilling fluids and completion fluids market.
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The global drilling fluids and completion fluids market is segmented on the basis of their application areas that include onshore and offshore applications. Secondly, the global drilling and completion fluids market is also segmented on the basis of type of base fluids such as water-based systems, oil-based systems, synthetic-based systems, and other based systems. Lastly, the market is segmented on the basis of regions such as North America, Asia-Pacific, Europe, Latin America, Africa, Middle East, and Rest of the World (ROW). Each segment has been analyzed with respect to its market trends, growth trends, and future prospects. The data has been analyzed from 2011 to 2018, and all quantitative data regarding segmentation is mentioned in terms of value ($Million).
Huge market with estimated global revenue of $15.2 billion by 2018
The global drilling fluids and completion fluids market is expected to reach $15.2 billion by 2018, growing at a CAGR of 7.5% from 2013 to 2018. The critical factors responsible for the growth of the drilling and completion fluids market include growth in drilling activities globally, rise in deep drilling activities onshore and offshore, discoveries of new CBM and shale reserves, and emergence of nanotechnology. The key concerns in the industry pertain to the environmental impacts and damages to ecosystem due to discharge of highly toxic chemicals.
The drilling fluids and completion fluids market is also analyzed with respect to Porter’s five force model. Different market forces such as threat from suppliers, threat from buyers, degree of competition, threat from substitutes, and threat from new entrants are analyzed with respect to the drilling and completion fluids industry. The report also provides a competitive landscape of major market players with its developments, mergers & acquisition, expansion & investments, agreements & contracts, new technologies developments, and others. A number of these developments are spotted by key industry players that suggest the growth strategy of these companies as well as of the overall industry.
The report classifies and defines the revenue for the drilling fluids and completion fluids industry. It covers qualitative data of different types of based fluids used. The report also provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, and key burning issues in the drilling and completion fluids market. Key players in the industry are profiled in detail with their recent developments. Some of these include companies such as M-I SWACO (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Newpark Drilling (U.S.), Tetra Technologies Inc. (U.S.), and Anchor Drilling Fluids Inc. (U.S.) among others.
Majors points of table content:
9 Company Profiles (Company At A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)
9.1 Akzo Nobel Nv 182
9.2 Anchor Drilling Fluids Inc.
9.3 Baker Hughes Inc.
9.4 Canadian Energy Services
9.5 Chevron Phillips Chemical Company Llc.
9.6 Cp Kelco Inc.
9.7 Geo Drilling Fluids Inc
9.8 Global Drilling Fluids & Chemicals Ltd.
9.9 Halliburton Co.
9.10 Hitech Drilling Fluids Ltd.
9.11 Imdex Ltd
9.12 Lamberti Group
9.13 M-I Swaco
9.14 New Park Resources Inc.
9.15 National Oilwell Varco Inc.
9.16 Scomi Group Bhd
9.17 Secure Energy Services Inc.
9.18 Sun Drilling
9.19 Tetra Technologies Inc.
9.20 Weatherford International Ltd
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