Drilling
and Completion Fluids Market – Overview
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 market is estimated to achieve
a CAGR of 7.5% in the course of the forecast period.
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.
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Key
Players
The
key players of global Drilling And Completion Fluids Market Halliburton (U.S.),
Schlumberger (U.S.), Newpark Resources Inc. (U.S.), Stellar Drilling Fluids LLC
(U.S.), Weatherford international plc. (U.S.), China oilfield services Ltd.
(China), and M-I Swaco (U.S.). AkzoNobel N.V. (Netherlands), National Oilwell
Varco (U.S.), Chevron Phillips Chemical Company (U.S.), BASF SE (Germany),
DuPont (U.S.), The Dow Chemical Company (U.S.) and, Scomi Group (Malaysia) are
among others.
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.
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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
drilling and completion fluids market are anticipated to perceive exceptional
progress throughout the forecast period globally. The European and Africa
regions which are near the North Sea control the significant market share,
owing to the new oil detections from these regions. In 2018, the sources noted
in Egypt, Nigeria, Norwegian Sea and deep-water of U.K. sector of the North Sea
are encouragingly adding to the expansion of the drilling and completion fluids
market in the region. Additionally, the Middle East and the Asia Pacific region
is trailing the development in the drilling and completion fluids market due to
increased exploration activities in these regions and massive potential
resources in the areas such as South China Sea, Bahrain, Kuwait, and Russia.
Furthermore, the discovery of about significant oil fields in Bahrain is
projected to additionally inspire the advance of the drilling and completion
fluids market in the region. The growing demand for oil globally is projected
to drive the expansion of the market in the forthcoming years.
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