North America Drilling Fluids Market Report Description:
North America drilling fluids market report gives comprehensive outlook on drilling fluids market across the regions with special emphasis on key countries of North America such as U.S and Canada. The report on North America drilling fluids market gives historical, current, and future market sizes (US$ Mn) on the basis of type, by application type, and countries. This report studies North America 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, North America drilling fluids market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed North America drilling fluids market to better equip clients with possible investment opportunities across the countries and market unmet needs (Product Opportunities). Key stakeholders of the North America drilling fluids market report include suppliers, manufacturers, marketers, policy makers, and agronomists engaged in North America drilling fluids market activities.
North America Drilling Fluids Market:
The North America drilling fluids market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Market for North America drilling fluids projected to reach US$ XX Mn by 2025 due to increased application of drilling fluids in industry.
Development and Launch of New Drilling Fluids
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 North America drilling fluids market is segmented into water based, oil based and synthetic based. Water based segment is expected to dominate the North America drilling fluids market due to its low cost price, eco-friendly properties, and requires less chemical treatment.
U.S Accounts for Larger Market Revenue Share in North America Drilling Fluids Market
North America drilling fluids market report analyses the market in different countries of North America. U.S accounted for major revenue share in North America drilling fluids due to improvement in technologies of drilling.
Key players profiled in the North America 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.)
North America 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:
North America 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 North America Drilling Fluids Adhesives market
- Water Based
- Oil Based
- Synthetic Based
- North America
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