Fluid Loss Control Additives Market: Introduction
- Fluid loss control additives are used to reduce the loss of fluid and maintain the liquid/solid ratio in cement slurry in order to retain the properties of slurries such as viscosity, density, and thickening time. Furthermore, reduction in water loss from the cement slurry helps control gas leakage through uncemented channels.
- These additives are useful to reduce the loss of filtrate during fluid drilling process. Loss of fluid may damage the permeability; fluid loss control additives are used to prevent such damages.
- Fluid loss control additives also help reduce energy intake by controlling circulating pressure and viscosity during drilling operations
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Rise in Unconventional Drilling Activities to Drive Fluid Loss Control Additives Market
- Increase in crude oil production and rise in exploration of shale gas are key driving factors for the global fluid loss control additives market
- Increase in research & development activities to find alternative, unconventional resources for fuels such as coal bed methane and shale gas boosts drilling activities across the world. Sophisticated and unconventional technologies such as hydraulic and horizontal drilling process are incorporated during exploration of shale gas. Drilling fluids are key additives used to improve the drilling efficiency and carry out the process smoothly.
- Crude oil and shale gas exploration activities are expected to increase in the near future to fulfil increase in demand for fuel. Petroleum industry is looking for non-hazardous viscosity reducers and fluid loss control additives. These factors are expected to boost the demand for fluid loss control additives.
- Rise in demand for fluid loss control additives used in cement slurry to reduce the loss of water during cementing process is anticipated to boost the global fluid loss control additives market
- Increase in environmental awareness and international regulations leads to rise in demand for environment friendly fluid loss control additives during the forecast period. These additives are used to prevent environmental damage as well as reduce destruction of aquatic bodies.
Modified Natural Additives to Offer Lucrative Opportunities
- Based on type, the global fluid loss control additives market can be segmented into modified natural additives, natural additives, synthetic additives, and others
- The modified natural additives segment is expected to hold major market share during the forecast period. Modified natural additives are sourced from natural materials and are synthetically modified to improve its performance and characteristics. Demand for these additives is attributed to properties offered by synthetically modified additives such as extraordinary performance during high pressure and temperature. Moreover, synthetically modified natural additives contain natural materials such as natural starch and celluloses which are environment friendly and cause less damage to the marine ecosystem.
- The natural additives segment is anticipated to account for significant share of the market, followed by synthetic additives
Water Soluble Additives Segment to Drive Global Fluid Loss Control Additives Market
- Based on additive type, the global fluid loss control additives market can be segmented into water soluble additives and water insoluble additives
- The water soluble additives segment is anticipated to hold major market share during the forecast period. These additives are preferred due to their compliance with various environmental regulations and applications in oil and gas drilling.
Significant Opportunities in Drilling Fluid Application Segment
- Based on application, the global fluid loss control additives market can be segmented into drilling fluid and cement slurry.
- The drilling fluid segment is anticipated to hold major share of the global fluid loss control additives market
- Fluid loss control additives are utilized to reduce filtrate loss during drilling process. Increase in need for drilling fluid can be attributed to rise in crude oil drilling due to surge in demand for crude oil. Furthermore, emergence of unconventional drilling activities such as horizontal drilling and hydraulic fracturing for extraction of oil and gas are driving the demand for fluid loss control additives.
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North America to Hold Significant Share of Global Fluid Loss Control Additives Market
- In terms of region, the global fluid loss control additives market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is estimated to account for prominent share of the global fluid loss control additives market in the near future, owing to rise in investment in unconventional drilling technologies in the region. Furthermore, increase in shale gas exploration and crude oil production in the U.S. is driving the global fluid loss control additives market.
- Middle East & Africa holds significant share in the global fluid loss control additives market, followed by Asia Pacific
Key Players in Market
The global fluid loss control additives market is highly fragmented, with several regional and global players. Prominent players operating in the global fluid loss control additives market seek to enter into partnerships for development of fluid loss control additives.
Key players operating in the fluid loss control additives market include:
- Schlumberger Limited
- BASF SE
- Newpark Resources Inc.
- Kemira OYJ
- Global Drilling Fluids and Chemicals Limited
- Tytan Organics Pvt. Ltd.
- OMNOVA Solutions Inc.
- The Dow Chemical Company
- Omnova Solutions
- Aubin Group
- Sekisui Chemical Co., Ltd.
- Chevron Phillips Chemical Company
Global Fluid Loss Control Additives Market: Research Scope
Global Fluid Loss Control Additives Market, By Type
- Modified Natural Additives
- Synthetic Additives
- Natural Additives
Global Fluid Loss Control Additives Market, By Additive Type
- Water soluble Additives
- Water insoluble Additives
Global Fluid Loss Control Additives Market, By Application
- Drilling Fluid
- Cement Slurry
Global Fluid Loss Control Additives Market, By Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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