Drilling and Completion Fluids Market 2019: Comprehensive Research Reports, Industry Size, Booming Share, Key Players Review, Growth and Business Boosting Strategies till 2023

Drilling and Completion Fluids Market 2019: Comprehensive Research Reports, Industry Size, Booming Share, Key Players Review, Growth and Business Boosting Strategies till 2023

“Drilling and Completion Fluids Market”
Market reports associated with the energy and power industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The Drilling and Completion Fluids market is estimated to achieve a CAGR of 7.5% in the course of the forecast period.

Drilling and Completion Fluids Market – Overview

Drilling and completion fluids consist of the basic requirements for creating the procedure for field development after the successful exploration of the oil field. Large amount of oil is needed as fuel for several industries such as automobiles, transportation, chemicals, lubricants, and others. For meeting the demand for fuel, innovations are extensively carried out.

Increased successful explorations of the oil fields around the world are having a positive influence on the drilling and completion fluids market. Market reports associated with the energy and power industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better.

The benefits extended by drilling and controlling fluids such as transmittal of data and controlling pressure are the key drivers propelling the market demand. The surge in global discovery activities have influenced the expansion of the drilling and controlling fluids market positively. Also, the growing need for a well-maintained and a strategic drilling fluid system is likely to offer lucrative opportunities for the market over the upcoming years.

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Industry Highlights

The benefits provided by drilling and controlling fluids such as controlling pressure and transmittal of data are the key drivers of the demand for the market. The increased discovery activities globally have spurred the expansion of the drilling and controlling fluids market. Moreover, the escalated need for a strategic and a well-maintained drilling fluid system is projected to provide significant opportunities for the market for drilling and completion fluids in the upcoming years.

The benefits provided by drilling and controlling fluids such as controlling pressure and transmittal of data are the key drivers of the demand for the market. The increased discovery activities globally have spurred the expansion of the drilling and controlling fluids market. Moreover, the escalated need for a strategic and a well-maintained drilling fluid system is projected to provide significant opportunities for the market for drilling and completion fluids in the upcoming years.

Top Manufacturers

  • Halliburton (U.S.),
  • Schlumberger (U.S.),
  • Newpark Resources Inc. (U.S.),
  • China oilfield services Ltd. (China),
  • M-I Swaco (U.S.),
  • Weatherford International Plc. (U.S.),
  • National Oilwell Varco (U.S.),
  • DuPont (U.S.),
  • BASF SE (Germany),
  • AkzoNobel N.V. (Netherlands),
  • Stellar Drilling Fluids LLC (U.S.),
  • Chevron Phillips Chemical Company (U.S.),
  • Scomi Group (Malaysia), and
  • The Dow Chemical Company (U.S.).

Segmental Analysis

The segmentation of the drilling and completion fluids market has been carried out on the basis of well type, type and region.

Based on well type, the market of drilling and completion fluids is segmented into offshore and land.

On the basis of type, the drilling and completion fluids market has been segmented into water-based systems, oil-based systems, synthetic-based systems, foams, and other fluids.

The region-based segmentation of the industry comprises of regions such as Asia Pacific, Europe, North America, and the rest of the world.

Regional Analysis     

The analysis based on regions in the drilling and completion fluids market consists of Asia Pacific, North America, Europe and the rest of the world.

The Europe and Africa markets which are near the North Sea, dominates a significant share of the market, on account of the upgraded oil discoveries from these regions. During 2018, the sources found around Norwegian Sea, Nigeria, Egypt, and the deep-water of U.K. sector of the North Sea were encouraged to expand their drilling and completion fluids market in the region. Furthermore, the Asia Pacific market along with the Middle East market, is trailing the growth of the drilling and completion fluids market owing to rising exploration activities in these areas. The presence of massive potential resources in the regions such as Bahrain, South China Sea, Russia, and Kuwait also drives the market considerably. Besides, the discovery of several prominent oil fields in Bahrain is likely to further stimulate the progress of the drilling and completion fluids market in the region. The increasing demand for oil globally also plays an important role in driving the development of the market throughout the forecast period.

Industry Updates:

Jan 2019 BHGE’s OFS segment has recently signed a four-year contract to offer drill bits, drilling services, drilling and completion fluids, completion and cementing solutions to an important customer in Colombia. BHGE will support major drilling campaigns through this deal while developing new technology in partnership with the customer and support conventional operations.

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