Fluid Loss Additives Market Outlook 2030
Fluid loss additive is a chemical that controls the loss of fluid with the help of filtration. It helps the operators to retain the important features of their cement slurries, including viscosity, thickening time, density and compressive strength development. The application of fluid loss additive is in the deep well in both offshore and onshore which delivers high temperature performance. Drilling operations are increasingly getting deeper, chemically harsher, hotter and more expensive. As a result, operators need effective and proven technology to work in such harsh mud systems. The loss of liquid to reservoir formation carries a high risk of permeability damage. In order to solve these problems, fluid loss control additives are utilized. Fluid loss control additives are primarily used to maintain a constant fluid volume within a slurry of cement to ensure that the performance properties of slurry remain within an acceptable range. Fluid loss control additives are customized for specific applications and these custom formulations assist operators maintain wellbore stability and overall drilling efficiency while minimizing HSE footprint.
COVID-19 Impact analysis
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency.
- The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the fluid loss additives market in 2020.
- COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
- The outbreak of COVID-19 has brought effects on many aspects, such as flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
Top Impacting Factors
The synthetically altered natural additives segment is estimated to register the highest growth in terms of value and volume, of the global fluid loss additives market. The demand for synthetically altered organic additives is very high across the globe, mainly because of its high performance at utmost conditions, including high temperature & pressure. The drilling fluid segment is anticipated to dominate the fluid loss additives market during the forecast period. Fluid loss additives are an important component used to avoid loss of filtrate during well drilling. As the demand for crude oil is rise in the drilling activities, which in turn is propelling the growth of the fluid loss additives market in the drilling fluid application. Environmental safety concerns and pertaining regulations are contributing to the increase in demand from the oil & gas drilling industry. The petroleum industry is encouraging research on drilling fluid sand additives, such as non-toxic viscosity reducers and fluid loss control additives. These factors are anticipated to boost demand and drive the global fluid loss control additives market over the forecast period. Further, increasing oil & gas drilling activities, supported by the rising demand for end-products and rising investments in the oil & gas projects, are also slated to drive the demand for fluid loss control additives during the forecast period.
- The prime factors driving the market studied are the increase in the manufacturing and exploration of shale gas and rising investments in the advance and unconventional drilling technologies. On the other side, the rapidly increasing demand for electrical vehicles and hazardous impact on the environment are hindering the growth of the market.
- The drilling fluid application is expected to dominate the global fluid loss additive market during the forecast period.
- The North American region constitutes the largest market, and it is also projected to be the fastest-growing market during the forecast period, owing to the rising consumption from countries such as the United States and Canada.
- The fluid loss additives market is propelled primarily by rising shale gas manufacturing. The rising international demand for energy is a prime factor comprising to the rising shale oil and shale gas manufacturing.
- As the fluid loss additives play a key role in drilling and cementing of well, the rising crude and shale oil production is projected to boost the demand for these additives during the forecast period.
- Evolution and adoption of well-advanced technologies permits wide exploration activities to be carried out for non-oil sources, such as coal bed methane, shale gas, and various other unconventional resources.
- These exploration and production activities need advanced technologies, such as multi-stage hydraulic fracturing of horizontal wells. These tasks are accomplished with the guidance of different formulated drilling fluids that aid in the maintenance of pump pressure and wellbore stable, and to keep away from corrosion and friction.
- Moreover, the rising shale gas exploration in the U.S. is rising drilling fluid applications, hence, driving the fluid loss additives market.
- Impact on environment by destructing the aquatic bodies such as coastal areas and fishes acts as a market restraint in the forecast period.
- Rapidly rising demand of electric vehicles to limit crude oil consumption and therefore serve as a restraint for the market.
- Blocking the destruction of aquatic bodies, such as coastal areas, fish and oceans, with the introduction of environmental and user-friendly fluid loss control additives in water-based muds for oil & gas drilling operations is one of the key trends identified in the global fluid loss control additives market.
Key Benefits of the Report
- This study presents the analytical depiction of the Fluid loss additive industry 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 Fluid loss additive market share.
- The current market is quantitatively analyzed to highlight the Fluid loss additive market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Fluid loss additive market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Fluid loss additive Report
- Who are the leading market players active in the Fluid loss additive market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Fluid Loss Additives Market Report Highlights
Key Market Players
Solvay, Company 10, Schlumberger Limited, BASF SE, Clariant, Tytan Organics, Newpark Resources Inc., Global Drilling Fluid and Chemicals Limited, Halliburton, Nouryon