Biotechnology Is Fastest Growing Segment Fueling The Growth Of The Global Drilling Fluids Market

Ashish Thapa

Biotechnology Is Fastest Growing Segment Fueling The Growth Of The Global Drilling Fluids Market

Market Overview:

Drilling fluids, commonly known as drilling muds, play an important role in oil and gas drilling operations. They are circulated downhole during the drilling process to lubricate the drill bit, transport cuttings to the surface, stabilize the wellbore, and maintain downhole pressure. The properties of drilling fluids can be customized according to various formation conditions.

Market key trends:

The increasing application of biotechnology in drilling fluids is one of the key trends being witnessed in the market. Biotechnology helps in improving the performance and efficiency of drilling fluids. Various biopolymers and biochemicals are being used in formulation of environment-friendly drilling fluids. For instance, purified microbial polysaccharides act as effective viscosifiers, filtration control agents, and shale inhibitors. Their eco-friendly nature makes them suitable for mitigating health, safety, and environmental risks associated with oil & gas drilling operations.

The global Drilling Fluids Market Size is estimated to be valued at US$ 8.43 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

The global drilling fluids market is segmented into water-based fluids, oil-based fluids, synthetic-based fluids and others. Among these, the water-based fluids segment held over 50% share of the global market in 2022 owing to its eco-friendly and cost effective nature compared to oil-based fluids. Water soluble polymers are commonly added to water-based drilling fluids to increase their viscosity and improve shale inhibition properties.

Key Takeaways

The global drilling fluids market is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing oil & gas drilling activities around the world. The market size is projected to reach US$ 8.43 Bn by 2023.

Regional analysis: North America dominated the global drilling fluids market in 2022 with over 30% share, followed by Middle East & Africa. The regions are expected to remain dominant due to large production and exploration of shale oil & gas reserves in the US and discovery of new oilfields in Middle Eastern countries. Asia Pacific is projected to witness highest growth owing to increasing oil & gas E&P projects in China, India and ASEAN countries.

Key players: Key players operating in the drilling fluids market are Baker Hughes Company, Schlumberger Limited, Weatherford, DIAMOCO Group, Conquest Drilling, QMax, ChemFor, Dynamic Drilling Fluids, Halliburton, Newpark Resources Inc., AES Drilling Fluids, NOV Inc., Stellar Drilling Fluids. LLC, Secure Energy, Total Energies, and Valence Drilling Fluids, LLC. The market is consolidated in nature with top 5 players accounting for over 50% share.

Ashish Thapa

Drilling Fluids Market Share, Size, Trend, Forecast, Analysis and Growth till the Year 2027

Mohit Joshi 2023-06-01

The global drilling fluids market is likely to showcase a growth of around 4% during the forecast period. By fluid type, the market is primarily divided into:· Water-based· Oil-based· Other fluid typesWater-based are considered to be less expensive and have a very low effect on the environment of discharge of mud and cuttings. The project, with a design capacity of 75,000 barrels of crude oil per day, will be developed as a three-mile subsea tieback to the existing Chevron-operated Blind Faith platformBy application, the market is primarily divided into:· Onshore· OffshoreThe production and set-up onshore take less time and it is more cost-effective than offshore. com/report/drilling-fluids-market/Global Drilling Fluids Market Geographical Segmentation Includes:· North America (United States, Canada, Rest of North America)· Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)· Asia-Pacific (China, Japan, India, Australia, Rest of APAC)· Middle East and Africa (MEA) (Saudi Arabia, UAE, Rest of MEA)· South America (Brazil, Argentina, Rest of South America)The North American region held a considerable position in the market owing to a large number of oil & gas reservoirs and growing exploration & production activities mainly in the US and Canada. com/report/drilling-fluids-market/Key questions resolved through this analytical market research report include:· What are the latest trends, new patterns, and technological advancements in the global drilling fluids market?

Drilling Fluids Market Business Opportunities, Current Trends And Industry Analysis By 2030

Recent Market Reports 2022-12-20

com/sample_request/4329Report Attribute/MetricDetailsCAGR 7. These are oil-based fluids, water-based fluids, non-aqueous fluids, synthetic fluids, and others. Water-based drilling fluid tops the global drilling fluid market with a share of 55. These factors made the global drilling fluids market upsurge at a higher level than previous years. Key Market HoldersThe key players of global drilling fluids market are Schlumberger Limited (France), Halliburton Inc.

Drilling Fluids Market Growth Accelerated by Increased Oil & Gas Exploration Activities

ashwinicmi 2024-01-15

Some key advantages of drilling fluids include improved drilling efficiency, well control, and protection of producing formations from damage. The rising global energy demand along with depletion of existing reserves have accelerated oil & gas exploration activities in recent years. The global Drilling Fluids Market is estimated to be valued at US$ 8. The growing exploration activities to cater to rising energy demand are expected to propel the drilling fluids market over the forecast period. Segment Analysis The drilling fluids market is dominated by oil-based fluids which accounts for over 40% share.

Global Drilling Fluids Market Is Estimated To Witness High Growth Owing To Increasing Exploration Activities and Rising Demand for Energy

Ben Wood 2023-10-11

With the increasing exploration activities for oil and gas, the demand for drilling fluids is expected to surge significantly. The drilling fluids market offers various products such as water-based fluids, oil-based fluids, and synthetic-based fluids, catering to different drilling requirements. SWOT Analysis:Strength:-The drilling fluids market is driven by increasing oil and gas exploration activities, which will create a steady demand for drilling fluids. Key players related content:Key players operating in the drilling fluids market include Baker Hughes Company, Schlumberger Limited, Weatherford, DIAMOCO Group, Conquest Drilling, QMax, ChemFor, Dynamic Drilling Fluids, Halliburton, Newpark Resources Inc. , Stellar Drilling Fluids LLC, Secure Energy, Total Energies, and Valence Drilling Fluids, LLC.

Drilling Fluids Market Report 2023-2032: Market Analysis, Growth, Key Trends And Forecast

harishtbrc 2023-09-05

The Drilling Fluids Global Market Report 2023, provides comprehensive information on the drilling fluids market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. Learn More On The Drilling Fluids Market’s Growth:https://www. The drilling fluids market size is expected to grow to $11. id=8020&type=smpThe drilling fluids market is segmented:By ProductOil-basedSynthetic-basedWater-basedOther productsBy ApplicationOnshore or OffshoreBy End-UserCrude Petroleum CompaniesNatural Gas Extraction CompaniesTop Major Players:Baker HughesHalliburton CompanyWeatherford International plcSchlumberger LimitedNewpark Resources IncNorth America was the largest region in the drilling fluids market in 2022The table of contents in TBRC’s drilling fluids market report includes:1. AppendixList of Tables:Table 1: Global Historic Market Growth, 2017-2022, $ BillionTable 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ BillionTable 3: Global Drilling Fluids Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ BillionTable 4: Global Drilling Fluids Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ BillionTable 5: Global Drilling Fluids Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion…………………………………………………………………………….

Drilling Fluids Market - Report Focuses on Application, Type and Region, Analysis and Forecast to 2031 | BIS Research

Tanzeel Obaid 2022-08-02

Segmentation 2: by Product Type• Water-Based Drilling Fluids• Oil-Based Drilling Fluids• Synthetic-Based Drilling Fluids• OthersThe global drilling fluids market is dominated by water-based drilling fluids. Moreover, growing concern about the toxicity of other drilling fluids is expected to create demand for water-based drilling fluids. Segmentation 3: by Region• North America - U. , Canada, and Mexico• Europe - Norway, Turkey, Russia, and Rest-of-Europe• China• U. Competitive Strategy: Key players in the drilling fluids market analyzed and profiled in the study involve drilling fluids manufacturers.

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