Drilling Fluids Market Trend,Forecast and Analysis

Report Sellers has added a new market research report “Drilling Fluids Market - Forecasts From 2017 to 2022” to its offerings. The report is an in-depth market study providing accurate market insights including the latest trends, forecast, competitive insights, etc.

According to the report, Drilling fluids, also known as drilling mud, plays an important role in facilitating the drilling process by suspending cuttings, controlling pressure, stabilizing exposed rock, providing buoyancy, cooling and lubricating. Every drilling activity requires drilling fluids and they are used extensively across the globe. Drilling fluids are water, oil or synthetic-based, and each composition provides different solutions in the well. Drilling fluids are essential to drilling success, as it maximizes recovery and minimizes the amount of time taken to achieve the required goal. Drilling deeper, longer and more challenging wells being practiced has been made possible by improvements in drilling technologies, including more efficient and effective drilling fluids.

The growing energy demand globally owing to population growth is the major driver for drilling fluids market. Also, with the successful implementation of nanotechnology in the oil and gas industry, a large number of companies have been investing heavily in drilling fluids. On the brighter side, most of the onshore locations in the global drilling fluids market are currently facing depletion which has prompted many companies to drill deeper. This requires a much larger amount of drilling fluid to function in an optimum condition which will create a higher demand for drilling fluids in most regions.

Onshore oil and gas dominate the drilling fluids market. The Middle East and Africa region accounts for a major share in the global drilling fluids market. North America dominates the global drilling fluids followed by the Middle East, and Asia Pacific region. Government support in India and China is expected to boost the drilling fluids market in the region over the forecast period. New oil discoveries in the Golden Triangle (Offshore Brazil, Gulf of Mexico, and West Africa) has led to increasing number of companies investing in the region, thereby positively impacting the demand for these fluids.

Browse through the complete description and in-depth TOC on “Drilling Fluids Market”
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Report Scope

The drilling fluids market has been segmented on the basis of application, fluid type and geography:

On the basis of application
Onshore
Offshore

On the basis of fluid type
Water-Based
Oil-Based
Synthetic-Based
Other fluid types

By Geography
Americas
North America
South America
Europe Middle East and Africa
Europe
Middle East and Africa
Asia Pacific

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