The massive surge in the number of oil & gas exploration activities across the globe will majorly drive clear brine fluids market over the coming seven years. The product is extensively used in oil drilling activities to reduce any kind of damage that the reservoir may undergo, due to high temperature and pressure that is a staple of any drilling process. The number of rig counts across the globe have been increasing exponentially by the day, which is likely to positively influence clear brine fluids industry size. According to Global Market Insights, Inc., “Worldwide clear brine fluids market was valued USD 870 million in 2015 and will exhibit an annual growth rate of 5% over 2016-2024.”
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Clear brine fluids industry encompasses potassium bromide, calcium bromide, calcium chloride, potassium chloride, sodium bromide, sodium chloride products. Clear brine fluids market from calcium bromide will collect substantial revenue by 2024 with an annual growth rate of 5% over the coming seven years. This product is also prominently used as a completion and workover fluid. In addition, pertaining to its inhibitive property, the product is extensively used to control the damage caused by formation pressure, which will impact clear brine fluids market growth.
In 2015, potassium chloride led the overall clear brine fluids market with a revenue collection of USD 150 million and is slated to witness maximum gains by the end of 2024. Potassium chloride is primarily used across the oil & gas sector to stabilize water sensitive clay, while completing the drilling process. Additionally, this product is available at an affordable rate, which will favorably boost the industry trends.
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Considering the regional landscape, Asia Pacific clear brine fluids market will register an annual growth rate of 6% over 2016 to 2024. China is anticipated to be one the major contributors toward the regional growth, which can be attributed to the surging investments in the shale gas exploration activities across the region.
North America clear brine fluids market generated a revenue of USD 550 million in 2015 and will collect notable revenue by 2024. Availability of shale reserves on a large scale across the U.S. will augment the industry growth. U.S. having led the North America market share in 2015, will gain substantial returns by 2024, owing to the favorable initiations taken by U.S. government to improve energy security.
MEA clear brine fluids will exceed a revenue generation of USD 150 million by 2024 with a significant annual growth rate, driven by the large presence of numerous oil and gases reservoirs across the region.
Browse key industry insights spread across 118 pages with 95 market data tables & 13 figures & charts from the report, “Clear Brine Fluids Market Forecast, 2016 – 2024” in detail along with the table of contents:
The noteworthy participants in clear brine fluids market are Albemarle Corporation, EMEC (The Egyptian Mud Engineering and Chemicals Company), Solent Chemicals, Israel Chemicals Ltd., Halliburton, Tetra Technologies, Inc., Zirax Ltd., Chemtura Corporation, and GEO Drilling Fluids, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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