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Drilling and Completion Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Drilling and Completion Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • June 2021
  • 142 pages
  • ID: 5917258
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global drilling and completion fluids market is expected to exhibit moderate growth during 2021-2026.

Drilling and completion fluids are highly filtered compounds that are used for oil and gas extraction activities. Drilling fluid, or drilling mud, is usually a composite liquid that is primarily used for minimizing formation damage and transporting solids. It is manufactured using chemical, oil, mud and water, which provides hydrostatic pressure to minimize corrosion and prevent formation fluids from entering the wellbore. On the other hand, the completion fluid is composed of brines, which is a mixture of water, chlorides and bromides, and has a high pH value and ionic composition. It is highly filtered and is available in the form of oil-, water- and synthetic fluids-based and foams.

The increasing shale gas exploration activities represent as one of the key factors driving the market growth. Furthermore, a significant increase in the drilling activities across the globe is also providing a boost to the market growth. Drilling and completion fluids aid in reducing the time to drill and enhancing the wellbore stability to maximize the recovery from the reservoir. Additionally, various technological advancements, such as the implementation of nanotechnology in the development of high-performance drilling and completion fluids, are acting as another growth-inducing factor. Nanoparticles are added to these fluids to minimize shale permeability and water loss by physically plugging nanometer-sized pores in the wellbore. Other factors, including increasing investments in onshore oil and gas industry, along with favorable government initiatives to promote the utilization of sustainable drilling fluids, are projected to drive the market further. Looking forward, the analyst expects the global drilling and completion fluids market to grow at a CAGR of around 4% during the forecast period (2021-2026).

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global drilling and completion fluids market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, system type, well type, and application.

Breakup by System Type:
Water-based System
Oil-based System
Synthetic Fluid-based System
Others

Breakup by Well Type:
HPHT (High Pressure High Temperature) Wells
Conventional Wells

Breakup by Application:
Onshore
Offshore

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Baker Hughes Company, CES Energy Solutions, Chevron Phillips Chemical, Drilling Fluids & Chemicals Limited, Halliburton Company, National Oilwell Varco, Inc., Newpark Resources Inc., Q’Max Solutions Inc., Sagemines, Schlumberger, Scomi Group Berhad, Secure Energy Services Inc., Tetra Technologies, Inc., Weatherford International, etc.

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