Global Drilling Fluids Market: Research By Production,Trends, Impact Factors, SWOT Analysis and Forecast: 2022-2031
The global market for drilling fluids was estimated to be US$ 16.0 billion in 2031, and is expected to grow at a CAGR of more than 8.0% from 2022-2031.
Drilling deeper, longer and more challenging wells has been made possible by improvements in drilling technologies, including more efficient and effective drilling fluids. Drillingfluids, also referred to as drilling mud, are added to the wellbore tofacilitate the drilling process by suspending cuttings, controlling pressure,stabilizing exposed rock, providing buoyancy, and cooling and lubricating.
Due to the increasinginnovation in the nanotechnology in the exploration of oil and gas industry hasspurred the growth of the drilling fluids market, with major companiesinvesting huge amounts in developing the technology. The report on the global drilling fluids market is a blueprint for the companies in this industry to improve their businesses.
The global market for drilling fluids was estimated to be US$ 16.0 billion in 2025, and is expected to grow at a CAGR of more than 8.0% from 2019 to 2025.
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Drilling fluids market is classified asbelow:
Water-based fluids
Oil-based fluids
Synthetic-based fluids
The report additionallyprovides qualitative analysis of the leading players, with clear insight andanalysis on the development strategies adopted by the market players.
The expanding onshoredrilling activities in the Middle East, North America and Asia Pacific areexpected to drive the demand for drilling fluids in the onshore reserves.Onshore oil and gas dominated the drilling fluids market represented 80% of thetotal demand in 2014. Additionally, presence of large natural resources in the“Golden Triangle” (Gulf of Mexico, offshore Brazil and offshore West Africa) ispromising to high investment in the regions, which is further expected to drivethe drilling fluids market over the given forecast period. U.S, Gulf of Mexico,offshore Brazil and offshore West Africa accounted for approximately 87% of thetotal investment made in developing offshore oil and gas reserves in 2014.
Companies mentioned in the research report are as below:
The players mentioned andevaluated in the drilling fluids market report are Newpark Resources Inc.,National Oilwell Varco, Schlumberger Technology Corporation, Canadian EnergyServices &Technology Corp., Anchor Drilling Fluids USA Inc., HalliburtonCompany,etc..
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