Global Drilling and Completion Fluids Market: Overview

The demand within the global drilling and completion fluids market is rising on account of advancements in oil exploration activities. The oil and gas industry is, undoubtedly, amongst the most revenue-centric sectors in contemporary-day business. Investment in oil exploration activities are initiated after a careful analysis and tabulation of the corresponding value generated from it. The viability of an oilfield can be a source of huge-scale profits for stakeholders, field operators, and investors. Henceforth, technologies meant to accelerate the process of oil exploration have witnessed increased demand in recent times. Following this trend, the demand within the global drilling and completion fluids market is also expected to increase.

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Despite the stellar demand for oil across the world, the oil and gas industry has suffered a setback over the past decade. Unfavourable trade relations have been damaging for the oil and gas industry. For this reason, oil exporting countries are looking at optimizing their existing oil resources to earn the advantages of sustained exports. This has led to increased use of drilling and completion fluids across the oil industry. The global market for drilling and completion fluids is slated to witness an upward graph of demand in the coming years.

In a syndicate review, Transparency Market Research (TMR) looks into the most prominent dynamics of market growth. The global drilling and completion fluids can be segmented on the basis of application, fluid system, well-type, and region. The use of water-based fluid systems has been on a rise in recent times.

Global Drilling and Completion Fluids Market: Notable Developments

  • Baker Hughes is a prominent player in the global drilling and completion fluids market. The company’s DELTA-TEQ drilling fluid has emerged as a laudable product in the market. It helps in reducing downhole losses, expanding the drilling window, and increasing flow rates. The knack for innovation cultivated by the company has intensified competition across the market.
  • Sinomine Specialty Fluids would be supplying caesium drilling and completion fluids to Equinor’s Norwegian shelf. The agreement is an important development in the global drilling and completion fluids market.

Some of the leading players in the drilling and completion fluids market are:

  • Newpark Resources
  • BHGE
  • Schlumberger
  • Halliburton

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Global Drilling and Completion Fluids Market: Growth Drivers

Importance of Offshore Drilling Projects

Offshore activities have gathered momentum in recent times. The need for cutting-edge equipment to execute offshore drilling projects has become indispensable. Moreover, the field of geosciences has become a central area of research and analysis, especially for marine engineers. This factor has shifted the radar of focus towards drilling fluids and offshore terrains. It is expected that the global drilling and completion fluids market would expand at a stellar pace in the years to follow. Moreover, development of new ports and drilling sites shall also play to the advantage of the global market.

Revenue Generated via Oilfields

The discovery of an oil well can turn the fortunes of the respective region. It can become a source of financial affluence and prosperity. However, the viability of a well is an important consideration to gauge its value for the regional industry. Over the past decade, countries in the Middle East have been looking to optimize their oil and gas operations, whilst engaging in the discovery of new wells. This trend is expected to result in increased investments in the global drilling and completion fluids market. Furthermore, use of water-based chemical for completion of wells has emerged an affordable option for oilfield operators.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

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Drilling And Completion Fluids Market

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