Global Drilling Fluids Market Report Description:
Global drilling fluids market report gives comprehensive outlook on drilling fluids market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The report on global drilling fluids market gives historical, current, and future market sizes (US$ Mn) on the basis of type, by application type, and regions. This report studies global drilling fluids market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global drilling fluids market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global drilling fluids market to better equip clients with possible investment opportunities across the regions and market unmet needs (Product Opportunities). Key stakeholders of the global drilling fluids market report include suppliers, manufacturers, marketers, policy makers, and agronomists engaged in global drilling fluids market activities.
Global Drilling Fluids Market:
The global drilling fluids market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Market for global drilling fluids projected to reach US$ XX Mn by 2025 due to increased application of drilling fluids in industry.
Development and Launch of New Hot Melt Adhesives
Development and launch of innovative drilling fluids by the market players enables surge
in the drilling fluids market demand over the forecast years. For instance. In 2018, Baker Hughes Incorporated (U.S.) launched the new drilling fluids which has a wide range of application. Moreover, launch of newer products in various countries enables the growth of drilling fluids market over the forecast years.
Water Based Drilling Fluids Segment Expected to Dominate the Market
Based on type, the global drilling fluids market is segmented into water based, oil based and synthetic based. Water based segment is expected to dominate the global drilling fluids market due to its low cost price, eco-friendly properties, and requires less chemical treatment.
North America Accounts for Larger Market Revenue Share in Global Drilling Fluids Market
North America accounted for major revenue share due to increased demand of drilling fluids from the growing population. U.S accounted for major revenue share due to improvement in technologies of drilling. Asia Pacific drilling fluids market is expected to account moderate CAGR due to increase in urbanization, population and industrialization. Europe exhibits a significant growth in drilling fluids market due to increased volumes of oil and gas production coupled with rapid growing drilling activities. Latin America shows a significant growth in market owing to increased discoveries of gas and substantial oil. Middle East and Africa drilling fluids market is also expected to rise in the forecast period due to increased production of gas and oil.
Key players profiled in the global drilling fluids market include:
- Schlumberger Limited (France)
- Halliburton Inc. (U.S.)
- Baker Hughes Incorporated (U.S.)
- Newpark Resources Inc. (U.S.)
- National Oilwell Varco. (USA)
- Scomi Group Bhd (Malaysia)
- TETRA Technologies, Inc. (U.S.)
- Canadian Energy Services & Technology Corp. (Canada)
- GEO Drilling Fluids, Inc. (U.S.)
- Anchor Drilling Fluids USA, Inc. (U.S.)
Global drilling fluids market is consolidating as large players complementing each other’s businesses by means of collaborations and acquisitions. For instance, in 2013, Newpark Mats and Integrated Services gained a stronger foothold in the UK and Europe with the acquisition of Terrafirma Roadways, a provider of temporary roadway and worksite solutions to utility, construction, and event customers. Located in Oxfordshire, England, Terrafirma had been a strategic partner with Newpark and the exclusive UK Distributor of Newpark’s DURA-BASE® Advanced-Composite Mat System.
Key Findings of the Report:
Global drilling fluids market expanding at significant CAGR over 2019 to 2025 to reach market value of US$ XX Mn by 2025 owing to increase launch of newer products.
- Based on type water based segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on mergers and acquisitions strategies to retain market position in Global Hot Melt Adhesives market
- Water Based
- Oil Based
- Synthetic Based
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East And Africa
- South Africa
- Gulf Cooperation Council Countries(GCC)
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, country market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market