North America Drilling Fluids Market: Snapshot

The North America drilling fluids market is growing significantly in the drilling process for mineral extraction bore wells, and oil and gas extraction. The drilling fluids also known as drilling mud are used to lubricate and cool the drill bits, carry rock cuttings to the surface, and maintains stability of the well. Moreover, they also function as emulsifiers, corrosion inhibitors, filtration reducers, defoamers, shale inhibitors, biocides, and weighing agents, with specific additives.

Increasing implementation of horizontal drilling is expected to boost the demand for drilling fluids across the region. In addition to that, developing deep sea reserves and rising demand for drilling activities supplemented by the shift towards exploring and developing are also projected to flourish the drilling market in North America.

According to Transparency Market Research, the North America drilling fluids market is projected to attain a valuation of US$7.2 bn by the end of 2019. During the course of seven years between 2013 and 2019, the market is anticipated to rise at 7.5% CAGR.

Low Cost of Water Based Fluids to Boost Demand for Drilling Fluids

North America drilling fluids market is categorized on the basis of product and application of drilling fluids. Based on the oil and gas industry, the drilling fluids market is bifurcated into onshore and offshore. Out of these, onshore drilling fluids segment is projected to dominate the North America drilling fluid market during the forecast period. According to the report the onshore application of drilling fluids in comparatively high than offshore.

Based on product type, the market is segmented on the basis of oil based fluids (OBF), water based fluids (WBF), and synthetic based fluids (SBF). Among these, water based fluids are likely to dominate the market due to its low cost and environmental friendly content during the forecast tenure. Due to technological advancements, inhibition properties, and improved efficiency, the water based fluids is likely to grow in offshore explorations.

Mexico to Strengthen Its Position Due to Increasing Access to Foreign Companies 

In 2012, the U.S. dominated the North America drilling fluids market and held 80% of revenue in this market. After the U.S., Canada has led the market but faced sluggish growth rate because of unrealized potential of shale gas. On the other hand, Mexico was considered one of the niche markets, and access to foreign companies in this country is projected to rise in the near future. In addition to that, increasing investment in onshore and offshore drilling activities is anticipated to accelerate the overall product demand during the forecast period.

In 2012, Schlumberger Technology Corporation was considered as a leading player on the North America drilling fluids market by holding substantial shares in the market. The company merged with M-I SWACO that helped them in reinforcing their position in this region. Among the various oilfield service companies, Halliburton Company is considered as one of the leading players. 

 

Rising investments in offshore and onshore drilling activities is a key factor that is expected to stimulate the North America drilling fluids market in the near future. The market research report provides in-depth and high-level analysis of the regional market, focusing on the major product and application segments of drilling fluids. It provides sharp insights on the various forces that drive the market and those that restrict its growth.

 

The major revenue generating segments with respect to product, application and geography, are accentuated, providing current, historic, and forecast statistics for the same. The report is designed to guide market players and help them make strategic business decisions based on the information provided. 

 

With the help of Porter’s five forces analysis, the report offers a comprehensive assessment of the competitive landscape, identifying key vendors and their strengths and weaknesses. Their individual industry share, progress over the years, financial overview, profitable areas of operation, and future plans are discussed in the research report.

 

Overview of the North America drilling fluids market

 

On the basis of application, the North American market for drilling fluids can be divided into offshore oil and gas, and onshore oil and gas. The main products analyzed in the report include synthetic-based fluids (SBFs), oil-based fluids (OBFs), and water-based fluids (WBFs). The three prime regions covered are the U.S., Mexico, and Canada.

 

The North American drilling fluids industry was estimated to be worth $4,336.8 million in the year 2012, and is forecast to be worth $7,203.6 million in 2019, growing at a CAGR of 7.5% during that period. Owing to rising demand for drilling fluids, the U.S. accounted for 80% of the industry share in 2012, making it the largest regional segment in the overall North American market. Onshore applications gained precedence over offshore ones in 2012 and are expected to register a 7.9% CAGR in terms of revenue. 

 

There has been a growing demand for crude oil and natural gas in North America, and focus has shifted towards developing deep sea reserves and horizontal drilling. These factors have boosted the North America drilling fluids market. Moreover, increasing need to develop unconventional resources such as coal bed methane and shale gas has also bolstered the growth. 

 

Key challenges faced by the industry include growing concern regarding environmental protection and the disposal and contamination of drilling fluids.

 

Companies mentioned in the research report 

 

The leading industry players in the North America drilling fluids market include Halliburton Company, Schlumberger Technology Corporation, Newpark Resources Inc., Baker Hughes Incorporated, Canadian Energy Services & Technology Corp., Weatherford International Ltd., Anchor Drilling Fluids USA Inc., China Oilfield Services Limited, and National Oilwell Varco.

 

This report gives you access to decisive data such as:

  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements in the micro servers industry
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across 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.

Chapter 1 Preface

1.1 Report Description

1.2 Market Segmentation

1.3 Research methodology

1.4 List of abbreviation

 

Chapter 2 Executive Summary

2.1 North American drilling fluids: Market snapshot

 

Chapter 3 North America Drilling Fluids: Industry Analysis

3.1 Introduction

3.2 Value chain analysis

3.3 Market Drivers

      3.3.1 Increasing oil drilling activities in North America

      3.3.2 Focus on developing deep sea reserves and implementing horizontal drilling

      3.3.3 Increasing exploration of shale gas, CBM and other unconventional resources

3.4 Restraints

      3.4.1 Growing environmental concerns regarding the use and disposal of drilling fluids

3.5 Opportunities

      3.5.1 Emergence of nanotechnology for developing drilling fluids

3.6 Porter’s five forces analysis

      3.6.1 Bargaining power of suppliers

      3.6.2 Bargaining power of buyers

      3.6.3 Threat of new entrants

      3.6.4 Threat of substitutes

      3.6.5 Degree of competition

3.7 North America Drilling fluids: Market attractiveness analysis

3.8 North America Drilling Fluids: Company market share analysis, 2012

 

Chapter 4 Drilling Fluids: Product Segment Analysis

4.1 North America drilling fluids market: Product overview

      4.1.1 North America drilling fluids market revenue share, by product segment, 2012 and 2019

4.2 Oil-based fluids (OBFs)

      4.2.1 North America market estimates and forecast for oil-based fluids, 2012 - 2019 (USD Million)

4.3 Synthetic-based fluids (SBFs)

      4.3.1 North America market estimates and forecast for synthetic-based fluids, 2012 - 2019 (USD Million)

4.4 Water-based fluids (WBF)

      4.4.1 North America estimates and forecast for water-based fluids, 2012 - 2019 (USD Million)

 

Chapter 5 Drilling Fluids: Application Segment Analysis

5.1 North America drilling fluids market: Application overview

      5.1.1 North America drilling fluids market revenue share, by application, 2012 & 2019

5.2 Offshore oil and gas

      5.2.1 North America demand for drilling fluids from offshore oil and gas, 2012-2019 (USD Million)

5.3 Onshore Oil and Gas

      5.3.1 North America demand for drilling fluids from onshore oil and gas, 2012-2019 (USD Million)

 

Chapter 6 North American Drilling Fluids: Country Analysis

6.1 North America Drilling Fluids Market: Country Overview

      6.1.1 North America drilling fluids market revenue share, by country, 2012 & 2019

6.2 U.S.

      6.2.1 U.S. drilling fluids market estimates and forecast, 2012 - 2019 (USD Million)

      6.2.2 U.S. drilling fluids market estimates and forecast, by product segment, 2012 - 2019 (USD Million)

      6.2.3 U.S .drilling fluids market estimates and forecast, by application 2012 - 2019 (USD Million)

6.3 Canada

      6.3.1 Canada drilling fluids market estimates and forecast, 2012 - 2019 (USD Million)

      6.3.2 Canada drilling fluids market estimates and forecast, by product segment, 2012 - 2019 (USD Million)

      6.3.3 Canada drilling fluids market estimates and forecast, by application, 2012 - 2019 (USD Million)

6.4 Mexico

      6.4.1 Mexico drilling fluids market estimates and forecast, 2012 - 2019 (USD Million)

      6.4.2 Mexico drilling fluids market estimates and forecast, by product segment, 2012 - 2019 (USD Million)

      6.4.3 Mexico drilling fluids market estimates and forecast, by application 2012 - 2019 (USD Million)

 

Chapter 7 Company Profiles

7.1 Schlumberger Technology Corporation

      7.1.1 Company overview

      7.1.2 Financial overview

      7.1.3 Business strategies

      7.1.4 SWOT analysis

      7.1.5 Recent developments

7.2 Halliburton Company

      7.2.1 Company overview

      7.2.2 Financial overview

      7.2.3 Business strategies

      7.2.4 SWOT analysis

      7.2.5 Recent developments

7.3 Baker Hughes Incorporated

      7.3.1 Company overview

      7.3.2 Financial overview

      7.3.3 Business strategies

      7.3.4 SWOT analysis

      7.3.5 Recent developments

7.4 Newpark Resources Inc.

      7.4.1 Company overview

      7.4.2 Financial overview

      7.4.3 Business strategies

      7.4.4 SWOT analysis

      7.4.5 Recent developments

7.5 Weatherford International Ltd.

      7.5.1 Company overview

      7.5.2 Financial overview

      7.5.3 Business strategies

      7.5.4 SWOT analysis

      7.5.5 Recent developments

7.6 Canadian Energy Services & Technology Corp.

      7.6.1 Company overview

      7.6.2 Financial overview

      7.6.3 Business strategies

      7.6.4 SWOT analysis

      7.6.5 Recent developments

7.7 China Oilfield Services Limited

      7.7.1 Company overview

      7.7.2 Financial overview

      7.7.3 Business strategies

      7.7.4 SWOT analysis

7.8 Anchor Drilling Fluids USA Inc.

      7.8.1 Company overview

      7.8.2 Business strategies

      7.8.3 SWOT analysis

      7.8.4 Recent developments

7.9 National Oilwell Varco

      7.9.1 Company overview

      7.9.2 Financial overview

      7.9.3 Business strategies

      7.9.4 SWOT analysis

List of Tables

TABLE 1 North America drilling fluids market snapshot

TABLE 2 Comparative analysis between various types of drilling fluids

TABLE 3 Typical composition of water based fluids

TABLE 4 Typical composition of oil based drilling fluids

TABLE 5 Drivers for drilling fluids market: Impact analysis

TABLE 6 Restraints of drilling fluids market: Impact analysis

TABLE 7 Toxicity grades of drilling fluids

TABLE 8 U.S. drilling fluids market estimates and forecast, by product, 2012 - 2019 (USD Million) 

TABLE 9 U.S. drilling fluids market estimates and forecast, by application 2012-2019 (USD Million) 

TABLE 10 Canada drilling fluids market estimates and forecast, by product, 2012 - 2019 (USD Million) 

TABLE 11 Canada drilling fluids market estimates and forecast, by application 2012 - 2019 (USD Million) 

TABLE 12 Mexico drilling fluids market estimates and forecast, by product, 2012 - 2019 (USD Million) 

TABLE 13 Mexico drilling fluids market estimates and forecast, by application 2012 - 2019 (USD Million) 

List of Figures 

FIG. 1 North America Drilling fluids: Market segmentation

FIG. 2 North America drilling fluids market estimates and forecast, 2012 - 2019 (USD million) 

FIG. 3 Value chain analysis

FIG. 4 U.S oil and gas rig counts, 2009 - 2012

FIG. 5 Global rig count share, by geographic region, 2012

FIG. 6 Global offshore drilling expenditure, 2008 - 2012 (USD billion) 

FIG. 7 Top ten countries with technically recoverable shale gas resources, 2012 (trillion cubic feet) 

FIG. 8 Annual Barnett shale natural gas production share, by well type, 2008 - 2012

FIG. 9 Porter’s five forces analysis

FIG. 10 North America Drilling fluids: Market attractiveness analysis

FIG. 11 North America Drillings Fluids: Company market share analysis, 2012

FIG. 12 North America drilling fluids market revenue share by product, 2012 and 2019

FIG. 13 North America market estimates and forecast for oil-based fluids, 2012 - 2019 (USD Million) 

FIG. 14 North America market estimates and forecast for synthetic-based fluids, 2012 - 2019 (USD Million) 

FIG. 15 North America estimates and forecast for water-based fluids, 2012 - 2019 (USD Million) 

FIG. 16 North America drilling fluids market revenue share by application, 2012 and 2019

FIG. 17 North America demand for drilling fluids from offshore oil and gas, 2012 – 2019 (USD Million) 

FIG. 18 North America demand for drilling fluids from onshore oil and gas, 2012 – 2019 (USD Million) 

FIG. 19 North America drilling fluids market revenue share, by country, 2012 & 2019

FIG. 20 U.S. drilling fluids market estimates and forecast, 2012 - 2019 (USD Million) 

FIG. 21 Canada drilling fluids market estimates and forecast, 2012 - 2019 (USD Million) 

FIG. 22 Mexico drilling fluids market estimates and forecast, 2012 - 2019 (USD Million) 

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North America Drilling Fluids Market