Report explores the Drilling and Completion Fluids Market to set phenomenal growth from 2018 to 2023


Posted July 4, 2018 by ankit93

Drilling and Completion Fluids Market by Application (Onshore and Offshore), Fluid System (Water-Based System, Oil-Based System, Synthetic-Based System), Well Type (Conventional and HPHT), and Region - Global Forecast to 2023

 
The Global Drilling & Completion Fluids Market is projected to reach a market size of USD 12.76 Billion in 2023 from an estimated USD 9.62 Billion in 2018, at a CAGR of 5.82% during the forecast period. This growth can be primarily attributed to the increase in drilling activities for onshore and offshore, and rise in shale gas exploration.
Get sample of this report:
https://www.marketsandmarkets.com/requestsample.asp?id=1241
The report segments The Drilling & Completion Fluids Market, by application, into onshore and offshore. The onshore application segment is expected to have the largest market share by 2023. The onshore application is expected to dominate the market as the majority of global oil and gas reserves are present onshore. The number of wells drilled onshore is drastically large than wells drilled offshore in 2017.
Water-based fluid system is expected to be the fastest-growing segment of the drilling & completion fluids market. The water-based fluid system is the largest segment of drilling and completion fluids market and is suitable for all applications including onshore and offshore. Water-based fluids are cost-effective and eco-friendly as compared to non-aqueous based fluids. Technological advancements have resulted in the use of water-based fluids in challenging high-pressure high-temperature conditions in deep and ultra-deepwater drilling activities. The discharge policies for water-based fluids are also not very stringent across the world due to the presence of less toxic chemicals. Thus, water-based fluid is the fastest growing segment due to cost effectiveness, less toxicity, and easy availability.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the drilling & completion fluids market. These players include: BHGE (US), Halliburton (US), Schlumberger (US), Canada Energy Services (Canada), and Newpark Resources (US). The leading players are trying to make inroads in the market in the developed economies and are adopting various strategies to increase their market shares.
For Inquiry before buying:
https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1241
The market in North America is estimated to be the largest in the drilling & completion fluids market from 2018 to 2023. Factors such as an increase in drilling activities and rise in the exploration of shale gas reserves are driving the growth of drilling and completion fluids market in the region.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Markets and markets
Country United States
Categories Energy
Tags drilling and completion fluids market
Last Updated July 4, 2018