Published: Jan, 2016
A new research report published by Transparency Market Research states that the North America drilling fluids market is expected to grow owing to the changing energy needs. The report, titled “North America Drilling Fluids Market - Industry Analysis, Size Share, Growth, Trends and Forecast 2012 - 2019”, has been scrutinized by industry experts to give its readers an accurate overview of the market.
Browse the full North America Drilling Fluids Market (WBF, OBF and SBF) by Application (Onshore and Offshore) - Industry Analysis, Size Share, Growth, Trends and Forecast 2012 - 2019 report at https://www.transparencymarketresearch.com/north-america-drilling-fluids-market.html
According to the research report, the North America drilling fluids market was valued at US$4.3 bn in 2012 and is expected to reach US$7.2 bn by the end of 2019, growing at a CAGR of 7.50% from 2013 to 2019. The robust growth rate of the North America drilling fluids market can be credited to the escalating drilling activities that are leaning towards exploring and developing deep sea reserves with horizontal drilling.
In the coming years, this market is expected to take a big step as companies are focusing on developing alternative energy resources such as coal bed methane, shale oil/gas, and others. However, this market faces some tough challenges such as growing environmental concern towards excessive usage of drilling fluids and their disposal, which leads to dangerous contamination.
The drilling fluids market in North America has been segmented on the basis of product, application, and country. The products in this market are oil-based fluids (OBFs), synthetic-based fluids (SBFs), and water-based fluids (WBF). On the basis of application, the North America drilling fluids market is divided into offshore oil and gas and onshore oil and gas. The countries studied in the research report about the North America drilling fluids market are the U.S., Canada, and Mexico.
Of the two applications, the onshore oil and gas segment will do exceptionally well in the North American region due to ongoing developments in the onshore drilling activities sector. Analysts predict that offshore oil and gas will also pick up pace as companies explore this option for drilling activities. Amongst the products, WBF dominated the North America market and is expected to continue this dominance as it costs less and is environment-friendly. Furthermore, the WBF market is also anticipated to make its mark in offshore exploration owing to technological advancements, enhanced efficiency, and inhibition properties.
Some of the important companies profiled in the North America drilling fluids market research report are 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. The research report shares details regarding the company overview, financial overview, business strategies, and recent developments. The research report also gives a holistic understanding of the competitive landscape of the market to its readers.
North America drilling fluids market is segmented in the following ways:
Drilling Fluids: Product Segment Analysis
- Oil-based fluids (OBFs)
- Synthetic-based fluids (SBFs)
- Water-based fluids (WBF)
Drilling Fluids: Application Segment Analysis
- Offshore oil and gas
- Onshore Oil and Gas
North American Drilling Fluids: Country Analysis
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