Report forecast the global drilling and
completion fluids market to grow at a CAGR of 6.58% during the period
2017-2021.
Drilling fluids are primarily composed of
bentonite that is mixed in a certain concentration with water or oil, mainly
serves the purpose of lubrication and cooling of the drill bit and drill string
and transporting the drill cuttings to the surface. Completion fluids are used
during well completions in activities such as hydraulic fracturing and well
stimulation.
The report covers the present scenario and
the growth prospects of the global drilling and completion fluids market for
2017-2021. To calculate the market size, the report considers the new sales
value of drilling and completion fluids used in an oil well and exclude
aftermarket and retrofit markets.
The
market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
According to the report, one of the major
drivers for this market is Rise in unconventional oil and gas resources.
Unconventional oil and gas resources comprise shale gas, CBM, gas hydrates,
tight oil, oil sands, and others. These resources are difficult to exploit and
costly to produce. Technological advances and operational efficiencies have
driven cost reductions, thus spurring the exploitation of unconventional
resources. The shale gas boom in the US saw the rise of unconventionally
produced natural gas supplies. The huge discoveries of oil sands in Canada have
shown the unlimited opportunities for oil exploration. As the energy focus
shifts toward natural gas, unconventional techniques such as CBM and
underground coal gasification (UCG) have witnessed considerable growth.
Further, the report states that one of the
major factors hindering the growth of this market is Decline in investments in
upstream sector. As per the International Energy Agency, the upstream oil and
gas industry witnessed a 25% decline in investments from 2014 to 2015. This was
due to the cost reductions done by various upstream companies worldwide, caused
by the drop in crude oil prices. As per the US Energy Information
Administration, crude oil prices, which were over $117.80/bbl in June 2014,
experienced a rapid decline to $47.76/bbl in January 2015, in a time span of
just seven months. Crude oil prices continued to fall and were at $30.70/bbl in
January 2016 and were around $54.58/bbl in January 2017. This has greatly
affected the profitability of upstream oil and gas companies.
Global
Drilling and Completion Fluids Market 2017-2021,
has been prepared based on an in-depth market analysis with inputs from
industry experts. The report covers the market landscape and its growth
prospects over the coming years. The report also includes a discussion of the
key vendors operating in this market.
key players in the global drilling and
completion fluids market: General Electric, Halliburton, Schlumberger, TETRA
Technologies, and Weatherford.
Other Prominent Vendors in the market are:
AES Drilling Fluids, Akzo Nobel, Anchor Drilling Fluids, BASF, Calumet
Specialty Products, CES Energy Solutions, ChemSol, Chevron Phillips Chemical,
CP Kelco, Drilling Fluids Technology, Ecolab, Flotek Industries, GEO Drilling
Fluids, Gumpro Drilling Fluids, IMDEX, Lamberti, National Oilwell Varco,
Newpark Resources, Royal Dutch Shell, Scomi Group, Stepan, Tiger Fluids, Wacker
Chemie, and WorkSafeBC.
Market
driver
- Rise in unconventional oil and gas resources
- For a full, detailed list, view our report
Market
challenge
- Decline in investments in upstream sector
- For a full, detailed list, view our report
Market
trend
- Supercritical carbon dioxide in shale gas fracking
- For a full, detailed list, view our report
Key
questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
Spanning over 85 pages “Global
Drilling and Completion Fluids Market 2017 - 2021” report covers Executive
summary, Introduction, Scope of the report, Research Methodology, Market
landscape, Market segmentation by application, Market segmentation by base fluid
type, Geographical segmentation, Decision framework, Drivers and challenges,
Market trends, Vendor landscape, Key vendor analysis, Appendix.
Please visit this link for more details: http://mrr.cm/Upc
For related reports please visit: Drilling and Completion Fluid Market Research Reports
Find all Energy
and Utilities Reports at: https://www.marketresearchreports.com/energy-utilities
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