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Drilling Fluids Market By Product (Oil Based Fluids, Oil Based Fluids, Water Based Fluids, Synthetic Based Fluids), By Application (Onshore, Offshore) – Growth, Future Prospects & Competitive Analysis, 2016-2023

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Published: | Report ID: 5398 | Report Format : PDF

Drilling fluids refer to the liquid and gaseous fluids or mixtures of fluids and solids used in drilling operations. They are widely used to provide lubrication and cooling to the drill bit, remove cuttings from the well, control formation pressure, seal permeable formations, and maintain wellbore stability in drilling operations for extraction of hydrocarbons from the earth’s surface. Drilling fluids are also known as drilling mud. Drilling fluids are generally classified as water-based, oil-based, or synthetic fluids.

The drilling fluids market for the oil and gas industry is expected to gain significant growth with increasing drilling activities for the production of hydrocarbons. Growing energy demand from various industries such as power, manufacturing, and transportation is projected to augment the growth of drilling fluids during the forecast period.

Moreover, growing drilling activities on offshore reserves, along with growing exploration of non-conventional shale gas reserves, are expected to fuel the demand for drilling fluids over the forecast period (2016–2023). However, slowdowns in the oil and gas industry and increasing use of alternative energy sources such as solar and wind, along with environmental concerns over the usage and disposal of drilling fluids, are anticipated to restrain the growth of the drilling fluids market during the forecast period (2016-2023).

North America is expected to be the largest region in the global drilling fluids market, which is anticipated to contribute the highest revenue share owing to growing drilling activities for the production of shale gas coupled with increasing offshore drilling activities in the U.S. Gulf of Mexico, which is expected to augment the growth of the drilling fluids market in the region. The Middle East and Africa are projected to be the second-largest region due to increasing oil production and high oil and gas reserves in the region.

The global drilling fluids market is projected to be valued at US$ by the end of 2016 and is expected to expand at a CAGR of 5.1% during the forecast period of 2016–2023.

Purpose of the Report

The purpose of this strategic research study titled “Global Drilling Fluids Market: Growth, Future Prospects, Competitive Analysis, and Forecast, 2016–2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global drilling fluids market.

Target Audience

  • Industry Investors
  • Research Professionals
  • Emerging Companies
  • Drilling fluid manufacturing companies
  • Oil and gas exploration and production companies
  • Oil Field Services Companies
  • Research Institutes

Overall, the research study provides a holistic view of the drilling fluids market’s growth, offering market size and estimates for the period from 2013 to 2023, keeping in mind the above-mentioned factors.

On the basis of product type, the global drilling fluid market is categorized into the following types:

  • Oil-Based Fluids (OBF)
  • Water-Based Fluids (WBF)
  • Synthetic-Based Fluids (SBF)

Drilling fluids are prepared with various chemicals, including clay, mud, gases, diesel fuel, and synthetic oil. Various combinations are used to prepare drilling fluids based on the reserved type. For instance, synthetic-based fluids are widely used in offshore drilling because they have similar properties to oil-based fluids but produce less toxic fumes.

Among all product types, the water-based segment is expected to be the largest and fastest-growing segment due to the easy availability and cost-effectiveness of water-based drilling fluids, coupled with their eco-friendly properties, which are anticipated to fuel the demand for water-based fluids during the forecast period. Following it, oil-based fluids are expected to be the second-largest segment by virtue of their wide application in the exploration of various types of reserves.

The segment is projected to register moderate growth over the forecast period (2016–2023). However, environmental concerns coupled with regulatory policies over water contamination, especially in offshore drilling, are anticipated to hamper the growth of the segment over the forecast period.

On the basis of application type, the global drilling fluids market for oil and gas is categorized into the following types:

  • Onshore
  • Offshore

The oil and gas industry has witnessed a shift from conventional to non-conventional oil and gas production. Advancements in technology assist oil producers in the discovery of offshore oil reserves economically. Over the forecast period, the increased discovery of offshore reserves along with conventional onshore reserves is expected to augment the growth of the drilling fluids market.

Among all applications, the onshore segment is anticipated to be the most dominant segment owing to the increasing exploration and production of conventional reserves coupled with a high number of proven reserves, which is expected to fuel the demand for drilling fluids over the forecast period.

Followed by it, the offshore segment is expected to be the fastest growing segment by virtue of shale gas from the matured and abandoned reserves coupled with increasing deepwater drilling activities, especially in the U.S. Gulf of Mexico, shale and tight oil production in Canada, and the discovery of ultra-deepwater drilling reserves in the North Sea, South China Sea, and other regions of the globe. The segment is projected to register significant growth over the forecast period (2016–2023).

On the basis of geography, the global drilling fluids market is segmented into the following categories:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Global energy demand is growing at a rapid pace with an increasing population and growing energy applications. Global oil and gas companies are investing in the exploration and production of new wells to cater to the growing demand for fossil fuels. Moreover, advancement in technology has facilitated oil companies’ exploration of non-conventional reserves such as tight oil, shale oil, and coal bed methane.

The global drilling fluids market is segmented on the basis of geography. North America is expected to be the largest region in the global drilling fluids market, which is anticipated to contribute the highest revenue share owing to growing drilling activities for the production of shale gas coupled with increasing offshore drilling activities in the U.S. Gulf of Mexico, which is expected to augment the growth of the drilling fluids market in the region.

The Middle East and Africa are projected to be the second-largest region due to increasing oil production and high oil and gas reserves in the region. The segment is expected to register moderate growth over the forecast period (2016–2023).

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global Drilling Fluids Market for Oil & Gas Industry Snapshot
2.1.1. Global Drilling Fluids Market for Oil & Gas Industry by Product Type, 2016
2.1.2. Global Drilling Fluids Market for Oil & Gas Industry by Application, 2016
2.1.3. Global Drilling Fluids Market for Oil & Gas Industry by Geography, 2016
2.1.4. Market Drivers, Challenges and Trends

3. Global Drilling Fluids Market for Oil & Gas Industry Market Dynamics
3.1. Market Overview
3.2. Revenue Chain Analysis
3.3. Drivers
3.4. Challenges
3.5. Future Prospects
3.6. Impact Analysis of Drivers and Challenges During the Forecast Period (2016-2023)
3.7. Porter’s Five Force Analysis
3.7.1. Bargaining Power Of Suppliers
3.7.2. Bargaining Power Of Buyers
3.7.3. Threat Of Substitutes
3.7.4. Threat Of New Entrants
3.7.5. Industry Rivalry

4. Global Drilling Fluids Market for Oil & Gas Industry Size , By Product Type, 2013 – 2023
4.1. Overview
4.1.1. Market Share Analysis by Product Type, 2015 vs 2023
4.1.2. Attractive Investment Proportion by Product Type
4.2. Oil Based Fluids
4.3. Water Based Fluids
4.4. Synthetic Based Fluids

5. Global Drilling Fluids Market for Oil & Gas Industry Size , By Application, 2013 – 2023
5.1. Overview
5.1.1. Market Share Analysis by Application, 2015 vs 2023
5.1.2. Attractive Investment Proportion by Application
5.2. Onshore
5.3. Offshore

6. Global Drilling Fluids Market for Oil & Gas Industry Size, By Geography, 2013 – 2023
6.1. Overview
6.1.1. Market Share Analysis by Geography, 2015 vs. 2023
6.1.2. Attractive Investment Proportion by Geography
6.2. North America Drilling Fluids Market for Oil & Gas Industry Analysis, 2013 – 2023
6.2.1. North America Drilling Fluids Market for Oil & Gas Industry Size , By Country, 2013 – 2023
6.2.1.1. U.S.
6.2.1.2. Canada
6.2.2. North America Drilling Fluids Market for Oil & Gas Industry Size, By Product Type, 2013 – 2023
6.2.2.1. Oil Based Fluids
6.2.2.2. Water Based Fluids
6.2.2.3. Synthetic Based Fluids
6.2.3. North America Drilling Fluids Market for Oil & Gas Industry Size, By Application, 2013 – 2023
6.2.3.1. Onshore
6.2.3.2. Offshore
6.3. Europe Drilling Fluids Market for Oil & Gas Industry Analysis, 2013 – 2023
6.3.1. Europe Drilling Fluids Market for Oil & Gas Industry Size, By Country, 2013 – 2023
6.3.1.1. Russia
6.3.1.2. U.K
6.3.1.3. Rest of Europe
6.3.2. Europe Drilling Fluids Market for Oil & Gas Industry Size, By Product Type, 2013 – 2023
6.3.2.1. Oil Based Fluids
6.3.2.2. Water Based Fluids
6.3.2.3. Synthetic Based Fluids
6.3.3. Europe Drilling Fluids Market for Oil & Gas Industry Size, By Application, 2013 – 2023
6.3.3.1. Onshore
6.3.3.2. Offshore
6.4. Asia Pacific Drilling Fluids Market for Oil & Gas Industry Analysis, 2013 – 2023
6.4.1. Asia Pacific Drilling Fluids Market for Oil & Gas Industry Size, By Country, 2013 – 2023
6.4.1.1. Australia
6.4.1.2. China
6.4.1.3. Indonesia
6.4.1.4. Rest of Asia Pacific
6.4.2. Asia Pacific Drilling Fluids Market for Oil & Gas Industry Size, By Product Type, 2013 – 2023
6.4.2.1. Oil Based Fluids
6.4.2.2. Water Based Fluids
6.4.2.3. Synthetic Based Fluids
6.4.3. Asia Pacific Drilling Fluids Market for Oil & Gas Industry Size, By Application, 2013 – 2023
6.4.3.1. Onshore
6.4.3.2. Offshore
6.5. Latin America Drilling Fluids Market for Oil & Gas Industry Analysis, 2013 – 2023
6.5.1. Latin America Drilling Fluids Market for Oil & Gas Industry Size, By Country, 2013 – 2023
6.5.1.1. Brazil
6.5.1.2. Mexico
6.5.1.3. Rest of Latin America
6.5.2. Latin America Drilling Fluids Market for Oil & Gas Industry Size, By Product Type, 2013 – 2023
6.5.2.1. Oil Based Fluids
6.5.2.2. Water Based Fluids
6.5.2.3. Synthetic Based Fluids
6.5.3. Latin America Drilling Fluids Market for Oil & Gas Industry Size, By Application, 2013 – 2023
6.5.3.1. Onshore
6.5.3.2. Offshore
6.6. Middle East & Africa (MEA) Drilling Fluids Market for Oil & Gas Industry Analysis, 2013 – 2023
6.6.1. MEA Drilling Fluids Market for Oil & Gas Industry Size, By Country, 2013 – 2023
6.6.1.1. GCC
6.6.1.2. Rest of MEA
6.6.2. MEA Drilling Fluids Market for Oil & Gas Industry Size, By Product Type, 2013 – 2023
6.6.2.1. Oil Based Fluids
6.6.2.2. Water Based Fluids
6.6.2.3. Synthetic Based Fluids
6.6.3. MEA Drilling Fluids Market for Oil & Gas Industry Size, By Application, 2013 – 2023
6.6.3.1. Onshore
6.6.3.2. Offshore

7. Company Profiles
7.1. Competitive Dashboard
7.2. Key Players
7.2.1. Anchor Drilling Fluids Inc
7.2.1.1. Business Description
7.2.1.2. Financial Information
7.2.1.3. Product Positions/Portfolio
7.2.1.4. Key Developments
7.2.2. AkzoNobel N.V
7.2.3. BP PLC
7.2.4. Baker Hughes Incorporated
7.2.5. Canadian Energy Services
7.2.6. Halliburton
7.2.7. Schlumberger
7.2.8. Royal Dutch Shell Inc.
7.2.9. TETRA Technologies
7.2.10. Weatherford
7.2.11. Other Notable Player

List of Figures

Figure 01: Global Drilling Fluids Market for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, 2013-2023
Figure 02: Global Drilling Fluids Market for Oil & Gas Industry, Market Share (%) by Product Type, 2015 vs. 2023
Figure 03: Global Drilling Fluids Market for Oil & Gas Industry Investment Proportion by Product Type, 2015
Figure 04: Global Drilling Fluids Market for Oil & Gas Industry, Market Share (%) by Application, 2015 vs. 2023
Figure 05: Global Drilling Fluids Market for Oil & Gas Industry Investment Proportion by Application, 2015
Figure 06: Global Drilling Fluids Market for Oil & Gas Industry, Market Share Analysis (%) by Geography, 2015 vs. 2023
Figure 07: Global Drilling Fluids Market for Oil & Gas Industry, Investment Proportion by Geography, 2015
Figure 08: North America Drilling Fluids Market for Oil & Gas Industry, Investment Proportion by Country, 2015
Figure 09: Europe Drilling Fluids Market for Oil & Gas Industry Investment Proportion by Country, 2015
Figure 10: Asia Pacific Drilling Fluids Market for Oil & Gas Industry Investment Proportion by Country, 2015
Figure 11: Latin America Drilling Fluids Market for Oil & Gas Industry Investment Proportion by Country, 2015
Figure 12: Middle East & Africa Drilling Fluids Market for Oil & Gas Industry Investment Proportion by Country, 2015

List of Tables

Table 01: Global Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast by Product Type, 2013-2023
Table 03: Global Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast by Application, 2013-2023
Table 04: Global Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Geography, 2013-2023
Table 05: North America Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Country, 2013-2023
Table 06: North America Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Product Type, 2013-2023
Table 08: North America Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Application, 2013-2023
Table 09: Europe Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Country, 2013-2023
Table 10: Europe Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Product Type, 2013-2023
Table 12: Europe Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Applications, 2013-2023
Table 13: Asia Pacific Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Country, 2013-2023
Table 14: Asia Pacific Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Product Type, 2013-2023
Table 16: Asia Pacific Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Application, 2013-2023
Table 17: Latin America Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Country, 2013-2023
Table 18: Latin America Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Product Type, 2013-2023
Table 20: Latin America Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Application, 2013-2023
Table 21: Middle East & Africa Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Country, 2013-2023
Table 22: Middle East & Africa Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Product Type, 2013-2023
Table 24: Middle East & Africa Drilling Fluids for Oil & Gas Industry Market Revenue (US$ Mn) Forecast, by Application, 2013-2023
Table 25: Anchor Drilling Fluids Inc.: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 26: AkzoNobel N.V.: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 27: BP PLC: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 28: Baker Hughes Incorporated: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 29: Canadian Energy Services: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 30: Halliburton: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 31: Schlumberger: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 32: Royal Dutch Shell Inc.: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 33: TETRA Technologies: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)
Table 34: Weatherford: Company Snapshot (Business Description; Financial Performance Analysis; Product Portfolio; SWOT Analysis; Key Developments)

Frequently Asked Question

What is the size of Drilling Fluids Market?

The market for Drilling Fluids Market is expected to reach USD$ 7.9 billion in 2023.

What is the Drilling Fluids Market CAGR?

The Drilling Fluids Market is expected to see significant CAGR growth over the coming years, at 5.1% .

What is the Forecast period considered for Drilling Fluids Market?

The report is forecasted from 2016 -2023.

What is the base year considered for Drilling Fluids Market?

The base year of this report is 2015.

Who are the major players in this market?

Canadian Energy Services, Halliburton, Schlumberger, Royal Dutch Shell Inc., TETRA Technologies.are some of the major players in the global market.

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