Strict Government Regulations Drive Latin America Drilling Fluids Waste Management Market, Set to be worth US$945.3 bn by 2020
Transparency Market Research (TMR) has announced the addition of a new market study on the Latin America drilling fluids waste management market. The findings of the report show that the market is expected to stand at US$945.3 bn by the end of 2020, expanding from US$413.4 mn in 2013 at a CAGR of 12.6% from 2014 to 2020. The growth is mainly due to the various government regulations regarding the toxic content of drilling fluids, which affect flora and fauna, making it essential to treat and manage drilling fluids waste.The report is titled “Latin America Drilling Fluids Waste Management Market : Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.” Porter’s five forces analysis is given, including bargaining power of suppliers and buyers, threat from new entrants and substitutes, and degree of competition.
Browse the full Latin America Drilling Fluids Waste Management Market (By Offshore and Onshore Application): Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at https://www.transparencymarketresearch.com/drilling-fluids-waste-management.html
The recent increase in oil exploration and production activities is driving the drilling fluids waste management market in Latin America. The market is majorly dependent on the performance of the oil and gas industry. Countries in Latin America, such as Brazil, Argentina, and Venezuela, have some of the largest oil reserves in the world, which is extensively aiding the growth of the drilling fluids waste management market. The region exports oil to various nations and thus, there is continuous exploration of its oil reserves. The exploration activities have led to the discovery of newer oil and gas reserves, which will help boost the market in the coming years.
Large MNCs are expected to invest in the region due to the discovery of shale gas reserves. Argentina is expected to embark on large-scale shale gas production projects, thus driving the drilling fluids waste management market. The production of shale gas in Argentina is expected to gain political support, which will further increase production and thus boost the drilling fluids waste management market in the coming years. The initiation of major exploration and production projects in deepwater and ultra-deepwater reserves in Brazil will accelerate drilling activities in the coming years and aid the drilling fluids waste management market. The stringent government regulations to manage drilling fluids waste will propel the drilling fluids waste management market in Latin America. On the other hand, operational challenges will act as a restraint for the market.
The Latin America drilling fluids waste management market is segmented on the basis of service, application, and country. On the basis of service, the drilling fluids waste management market is segmented into solid control, treatment and disposal, containment and handling. Of these, the treatment and disposal segment dominated the market in 2013. By revenue, the treatment and disposal segment held a share of 35% in the drilling fluids waste management market in 2013. By application, the market is segmented into onshore and offshore, of which the offshore segment led the market, accounting for over 55% of the drilling fluids waste management market.
Schlumberger Limited, National Oilwell Varco, Halliburton Company, Weatherford International Ltd., Baker Hughes Incorporated, and Imdex Limited are the key companies that have been profiled in the report.
- Solid control
- Treatment & disposal
- Containment & handling
- Others (Rest of Latin America)
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