Drilling Fluids Market Analysis :
Drilling fluid is a combination of chemicals that is distributed through the wellbore. Drilling fluids, also known as drilling mud, are added to the wellbore to ease the drilling process by suspending cuttings, controlling pressure, stabilizing exposed rock, providing buoyancy, and cooling & oiling. They are used in various applications, including emulsifiers and moistening agents. Water-based drilling mud comprises betonies clay (gel) with additives such as barium sulfate (barite), calcium carbonate (chalk), or hematite. Drilling fluids apply hydrostatic pressure to prevent formation fluids from entering into the wellbore, thus keeping the drill cool and clean during drilling.
COVID-19 scenario analysis
- In the oil & gas industry, the outbreak of COVID-19 has played a crucial role in the recent oil value crash. The extended lockdown and social distancing norms limited the number of labors in drilling operations, thus negatively affecting
- Cross-border travel limitations, offer insufficiencies, quarantines, disruption in supply chain are some of the key challenges, which have hampered the growth of the drilling fluids market.
- One of the essentials of the worldwide economy is of the crude oil business. The spread coronavirus in December 2019 in China and gradual expansion of the pandemic have drastically brought down demand and worth of petroleum.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
The development of the oil & gas industry has resulted in increase in drilling activities, which, in turn, has significantly contributed toward the growth of the drilling fluids market. Drilling requires high temperature and high-pressure conditions. Horizontal and deeper wells face a range of drilling, constancy, pressure, and other issues that require high volume of drilling fluids for offshore and onshore oil & gas applications, such as oil-based fluids, water-based fluids, non-aqueous fluids, and synthetic fluids. This is expected to boost the demand for drilling fluids.
New product launches to drive the market growth
M-I SWACO launched new ENVIROTHERM NT water-base drilling fluid, which is especially designed for high-temperature, high-pressure (HTHP) wells, environmentally sensitive areas, or projects that require high temperatures and water-base drilling fluid system. It can be used at temperatures in excess of 450 F and densities up to 19.0 lbm/galUS (2.3 g/cm3).
The water-base drilling fluid is easy to manage and requires minimal dilution for HTHP environments, thus maximizing drilling efficiency. Additionally, water-base drilling fluid is cost-effective as compared to other drilling fluids. Furthermore, it can be easily converted from a low to a high temperature system with no rheology increase or loss of other properties.
Key benefits of the report
- This study presents the analytical depiction of the global drilling fluids market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global drilling fluids market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global drilling fluids market research report:
- Which are the leading market players active in the global drilling fluids market?
- What are the upcoming trends of the global drilling completion fluids market?
- What are the driving factors, restraints, and opportunities of the market?
Drilling Fluids Market, by Type Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By End-use Industry |
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 By Region |
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 Key Market Players | Scomi (Malaysia), Global Drilling and Chemicals (India), BHGE (U.S.), Weatherford, (Switzerland), New park Resources (U.S.), Sage Mines (France), CES (Canada), Secure Energy Services (Canada), Schlumberger (U.S.), Q’max Solutions (U.S.), Tetra Technologies (U.S.), Halliburton Company (U.S.), National Oilwell Varco (U.S.) |
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