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Drilling Fluids Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

Drilling Fluids Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Drilling Fluids Market: By Products (Oil Based Fluid, Water Based Fluids, Synthetic Fluids, Others), By Application Type (Onshore, Offshore) and Geography

 

 

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Report

Description

Drilling Fluids Market size was valued at USD 10 billion in 2021, It is growing at a  CAGR of 4.4% from 2022-2028. This report studies global 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 market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions and market unmet needs (Product Opportunities). Furthermore, corporations have invested heavily in research and development to develop bio-based drilling fluids generated from vegetable oils. Water-based drilling fluids are becoming more popular as environmental worries about the adverse impacts of utilising oil-based fluids grow. Over the projection period, rising environmental, health, and safety concerns over mud discharge and cuttings disposal are projected to stymie market expansion. As a result, manufacturing businesses are refocusing their efforts on developing innovative nanotechnology-based solutions to address technological and environmental concerns. Because of the cost-effectiveness and lesser environmental impact of the discharged cuttings and mud, these fluids are expected to see increased penetration and growth rates. Over the projection period, demand for water-based fluids is expected to be driven by a growing focus on enhancing the inhibitive and thermal performance of water-based systems in order to compete with non-aqueous fluids used for demanding applications such as offshore and onshore shelf activities.

Recent Market Developments:

In May 2022, The Long Pond Marine Base and Blue Water Group entered into a new partnership to support the offshore energy industry. The partnership will offer “a complete solution for the industry” in one location.

In May 2022, Invictus Energy signed a binding well services contract with Baker Hughes for drilling in Zimbabwe, following a capital raise.

Drilling Fluids Market

MARKET SUMMARY
-
4.4% CAGR
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 4.4%
  • Largest Market– North America
  • Fastest Growing Market– Asia Pacific

Drilling Fluids Market

  • The report on global Drilling Fluids Market gives historical, current, and future market sizes (US$ Bn) on the basis of type, application and geography.
  • Drilling Fluids Market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • Key stakeholders of the global drilling fluids market report include suppliers, manufacturers, marketers, policy makers, and agronomists engaged in global drilling fluids market activities.
Key Players
  • Schlumberger Limited (France)
  • Halliburton Inc. (U.S.)
  • Baker Hughes Incorporated (U.S.)
  • Newpark Resources Inc. (U.S.)
  • National Oilwell Varco. (USA)
Drilling Fluids MarketDynamics

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.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 Got Significant Share

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.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East
Key

Key Features of the Report

  • The report provides granular level information about the market size, country market share, historic market (2017-2021) and forecast (2022-2028)
  • 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
Drilling Fluids Market Segmentation

segmentation-block-image

By Type

    • Oil Based Fluid,
    • Water Based Fluids,
    • Synthetic Fluids,
    • Others
segmentation-block-image

Application

    • Onshore
    • Offshore
segmentation-block-image

Geography

    North America

    • US
    • Canada

    Europe

    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe

    Asia Pacific

    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific

    Latin America

    • Brazil
    • Mexico
    • Argentina
    • Chile
    • Rest of Latin America

    Middle East And Africa

    • South Africa
    • Gulf Cooperation Council Countries(GCC)
    • Rest of MEA
Location

GEOGRAPHY

Frequently Asked Questions

The drilling fluids market is projected to expand at a CAGR of 4.4% during the forecast period.

Schlumberger Limited (France) Halliburton Inc. (U.S.) Baker Hughes Incorporated (U.S.) Newpark Resources Inc. (U.S.) National Oilwell Varco. (USA)

North-America is the fastest-growing region for drilling fluids market

Report

Table Of Content

1. Executive Summary
2. Global Drilling Fluids Market Introduction
2.1. Global Drilling Fluids Market – Taxonomy
2.2. Global Drilling Fluids Market –Definitions
2.2.1. By Products
2.2.2. By Application Type
2.2.3. By Region
3. Global Drilling Fluids Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Drilling Fluids Market Dynamic Factors – Impact Analysis
3.6. Global Drilling Fluids Market – Competition Landscape
4. Global Drilling Fluids Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Drilling Fluids Market, By Products, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.1. Oil-Based Fluids
5.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Water-Based Fluids
5.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Synthetic Fluids
5.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
5.4. Others (Non-Aqueous Fluid, Reservoir Drilling Fluid, Etc.)
5.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.4.3. Market Opportunity Analysis
6. Global Drilling Fluids Market, By Application Type, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
6.1. Onshore
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Offshore
6.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global Drilling Fluids Market Forecast, By Region, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.1. North America
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Europe
7.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Asia-Pacific
7.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Latin America
7.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Middle East and Africa
7.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Global Drilling Fluids Market – Opportunity Analysis Index, By End-User Industry, End-User Industry, and Region, 2022 – 2028
8. North America Drilling Fluids Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
8.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.1.1. Oil Based Fluid
8.1.2. Water Based Fluids
8.1.3. Synthetic Fluids
8.1.4. Others
8.2. Application Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
8.2.1. Onshore
8.2.2. Offshore
8.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
8.3.1. U.S.
8.3.2. Canada
8.4. North America Drilling Fluids Market – Opportunity Analysis Index, By Product, By Application, and Country, 2022 – 2028
8.5. North America Drilling Fluids Market Dynamics – Trends
9. Europe Drilling Fluids Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Oil Based Fluid
9.1.2. Water Based Fluids
9.1.3. Synthetic Fluids
9.1.4. Others
9.2. Application Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Onshore
9.2.2. Offshore
9.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.3.1. Germany
9.3.2. UK
9.3.3. France
9.3.4. Spain
9.3.5. Italy
9.3.6. Russia
9.3.7. Poland
9.3.8. Rest of Europe
9.4. Europe Drilling Fluids Market – Opportunity Analysis Index, By Product, By Application, and Country, 2022 – 2028
9.5. Europe Drilling Fluids Market Dynamics – Trends
10. Asia-Pacific Drilling Fluids Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
10.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Oil Based Fluid
10.1.2. Water Based Fluids
10.1.3. Synthetic Fluids
10.1.4. Others
10.2. Application Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Onshore
10.2.2. Offshore
10.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.3.1. Japan
10.3.2. China
10.3.3. India
10.3.4. ASEAN
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Asia-Pacific Drilling Fluids Market – Opportunity Analysis Index, By Product, By Application, and Country, 2022 – 2028
10.5. Asia-Pacific Drilling Fluids Market Dynamics – Trends
11. Latin America Drilling Fluids Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028
11.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Oil Based Fluid
11.1.2. Water Based Fluids
11.1.3. Synthetic Fluids
11.1.4. Others
11.2. Application Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Onshore
11.2.2. Offshore
11.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028  by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.3.1. Brazil
11.3.2. Mexico
11.3.3. Argentina
11.3.4. Rest of Latin America
11.4. Latin America Drilling Fluids Market – Opportunity Analysis Index, By Product, By Application, and Country, 2022 – 2028
11.5. Latin America Drilling Fluids Market Dynamics – Trends
12. Middle East and Africa Drilling Fluids Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
12.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Oil Based Fluid
12.1.2. Water Based Fluids
12.1.3. Synthetic Fluids
12.1.4. Others
12.2. Application Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Onshore
12.2.2. Offshore
12.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.3.1. Gulf Cooperation Council (GCC) Countries
12.3.2. Israel
12.3.3. South Africa
12.3.4. Rest of MEA
12.4. MEA Drilling Fluids Market – Opportunity Analysis Index, By Product, By Application, and Country, 2022 – 2028
12.5. MEA Drilling Fluids Market Dynamics – Trends
13. Competition Landscape 
13.1. Strategic Dashboard of Top Market Players
13.2. Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
13.2.1. Schlumberger Limited
13.2.2. Baker Hughes Incorporated
13.2.3. Anchor Drilling Fluids USA, LLC,
13.2.4. National Oilwell Varco
13.2.5. Gumpro Drilling Fluids Pvt. Ltd
13.2.6. Halliburton Company (US)
13.2.7. Tetra Technologies (US)
13.2.8. CES (Canada)
13.2.9. National Oilwell Varco (US)
13.2.10. Secure Energy Services (Canada)
13.2.11. Q’max Solutions (US)
13.2.12. Global Drilling and Chemicals (India)
13.2.13. Sagemines (France)
13.2.14. Scomi (Malaysia)
13.2.15. Others
14. Research Methodology
15. Key Assumptions and Acronyms
Report

Company Profile

  • Schlumberger Limited
  • Baker Hughes Incorporated
  • Anchor Drilling Fluids USA, LLC,
  • National Oilwell Varco
  • Gumpro Drilling Fluids Pvt. Ltd
  • Halliburton Company (US)
  • Tetra Technologies (US)
  • CES (Canada)
  • National Oilwell Varco (US)
  • Secure Energy Services (Canada)
  • Q’max Solutions (US)
  • Global Drilling and Chemicals (India)
  • Sagemines (France)
  • Scomi (Malaysia)

Description

Drilling Fluids Market size was valued at USD 10 billion in 2021, It is growing at a  CAGR of 4.4% from 2022-2028. This report studies global 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 market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions and market unmet needs (Product Opportunities). Furthermore, corporations have invested heavily in research and development to develop bio-based drilling fluids generated from vegetable oils. Water-based drilling fluids are becoming more popular as environmental worries about the adverse impacts of utilising oil-based fluids grow. Over the projection period, rising environmental, health, and safety concerns over mud discharge and cuttings disposal are projected to stymie market expansion. As a result, manufacturing businesses are refocusing their efforts on developing innovative nanotechnology-based solutions to address technological and environmental concerns. Because of the cost-effectiveness and lesser environmental impact of the discharged cuttings and mud, these fluids are expected to see increased penetration and growth rates. Over the projection period, demand for water-based fluids is expected to be driven by a growing focus on enhancing the inhibitive and thermal performance of water-based systems in order to compete with non-aqueous fluids used for demanding applications such as offshore and onshore shelf activities.

Recent Market Developments:

In May 2022, The Long Pond Marine Base and Blue Water Group entered into a new partnership to support the offshore energy industry. The partnership will offer “a complete solution for the industry” in one location.

In May 2022, Invictus Energy signed a binding well services contract with Baker Hughes for drilling in Zimbabwe, following a capital raise.

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