Europe Drilling Fluid & Completion Fluid Market is Expected to Reach $1.7 Billion in 2018 - New Report by MicroMarket Monitor
(PRWEB) July 23, 2014 -- The Europe Drilling fluid and Completion fluid Market Report defines and segments the drilling fluid and completion fluid market in Europe with analysis and forecast of revenue. The drilling fluid and completion fluid market in Europe is estimated to grow from around $1.3 billion in 2013 to $1.7 billion by 2018, at a CAGR of 6.1%, for the given period.
Browse through the TOC of the Europe drilling fluid and completion fluid Market Report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation in the Europe drilling fluid and completion fluid market, and is supported by various tables and figures.
http://www.micromarketmonitor.com/market/europe-drilling-fluid-completion-fluid-9196506726.html
The increasing energy demand, rise in population, discoveries of new CBM and shale reserves are putting pressure to drill at high depths and enter deep and ultra deep waters. Recent increase in oilfield discoveries and rise in drilling activities especially for those focusing on crude oil has positively impacted the drilling fluid and completion fluid market. These factors have been major drivers for the drilling fluids and completion fluids market. The price trend of crude oil and natural gas will support remote offshore sites and shale exploration.
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The environmental degradation in this region has been a major concern and this has resulted into stringent environmental regulations and policies which limit the discharge of harmful fluids. These regulations will boost the market for water-based and synthetic-based drilling and completion fluids.
This market is segmented and forecasted on the basis of types, application and geography. Segmentation by type of drilling fluid includes- water based, oil based, synthetic based and others. By application, the market is segmented into offshore and onshore operations. The market is further segmented and forecasted on the basis of major countries, such as Russia, Norway, U.K. and others.
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This report also includes the market share, supply chain and value chain analyses, and market metrics such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of key players in the market including major companies which provide drilling fluid.
Related Reports:
North America Drilling Fluid & Completion Fluid Market
The North American drilling and completion fluid market was valued at $4,523.7 million in 2013 and is forecasted to reach $7,679.2 million by 2018, growing at a CAGR of 7.3% from 2013 to 2018. The water-based system in drilling and completion fluids accounted for $5,276.1 million in 2013. The North American region constituted nearly 51% of the global drilling and completion fluid market in 2013.
Rise in drilling for shale oil, discoveries of coal bed methane (CBM), gas reserves and high drilling activities, and increased exploration and production activities, especially in offshore deep and ultra-deep waters in the North American region are the major reasons for the drilling and completion fluid market in North America. The lucrative and high investment areas of subsea regions in the U.S. and Canada are also driving the exponential growth of the market.
http://www.micromarketmonitor.com/market/north-america-drilling-fluid-completion-fluid-2200133703.html
Asia-Pacific Drilling Fluid & Completion Fluid Market
The Asia-Pacific drilling and completion fluid market was valued at $1,638.24 million in 2013 and is forecasted to reach $2,386.23 million by 2018, growing at a CAGR of 7.80% from 2013 to 2018. The water-based system in drilling and completion fluids accounted for $1,013.25 million in 2013. Asia-Pacific is the second-largest market in the global drilling and completion fluid market with an estimated market share of about 15% in 2013.
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.
http://www.micromarketmonitor.com/market/asia-pacific-drilling-fluid-completion-fluid-5274629646.html
Africa Drilling Fluid & Completion Fluid Market
The African drilling and completion fluid market was valued at $729.84 million in 2013 and is forecasted to reach $1,115.61 million by 2018, growing at a CAGR of 8.90% from 2013 to 2018. The water-based system in drilling and completion fluids accounted for $438.3 million in 2013. The African region constituted nearly 7% of the global drilling and completion fluid market in the same year.
Increase in drilling and exploration activities in onshore areas form one of the reasons for the growth of the drilling and completion fluid market in Africa. Offshore activities are mostly carried out in Angola which is a part of the Golden Triangle. Increase in drilling footage is also the driving force of this market. Countries likes Egypt, Algeria, and Nigeria are leading in oil and gas production in the African region.
http://www.micromarketmonitor.com/market/africa-drilling-fluid-completion-fluid-8784254335.html
Middle East Drilling Fluid & Completion Fluid Market
The Middle East drilling and completion fluid market was valued at $560.97 million in 2013 and is forecasted to reach $738.64 million by 2018, growing at a CAGR of 5.70% from 2013 to 2018. The water-based system in drilling and completion fluids accounted for $242.3 million in 2013. The Middle Eastern region constituted nearly 5% of the global drilling and completion fluid market in 2013.
Increase in drilling and exploration activities form one of the key reasons for the growth of the drilling and completion fluid market in the Middle East. Major investments made for drilling in Oman and Saudi Arabia are helping to increase the number of wells drilled and thus driving the growth of the market in the region. The Middle East is one of the stable markets for drilling and completion fluids and is expected to remain so in the coming years.
http://www.micromarketmonitor.com/market/middle-east-drilling-fluid-completion-fluid-3201014125.html
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