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Technavio’s market research analysts have identified the increasing demand for energy as one of the primary factors that will trigger the growth of the oilfield drilling fluids market in the coming years. The onshore and offshore oil exploration activities are increasing owing to the increasing demand for energy across the world. The growing oil demand for energy purpose is leading exploration and extraction activities and this, in turn, increases the demand for oilfield drilling fluids. Several emerging economies such as China, India, and Brazil have huge energy demand owing to their rising population and improved standard of living of consumers. All the countries are aiming for self-reliability in terms of energy generation by investing heavily in new offshore and offshore reserves. Our market research analysts estimate that this market will grow steadily at a CAGR of more than 6% by 2022.
The growing demand for water-based fluids (WBFs) is one of the key trends in the oilfield drilling fluids market. Several players are focusing on offering high-performance products to the oil and gas market to sustain the competition. WBFs are gaining traction among the drilling fluids owing to their low toxicity and cost-effectiveness as compared with other drilling chemicals. Moreover, WBFs can be used in extreme drilling conditions where other oil-based fluids (OBFs) cannot function properly.
The oilfield drilling fluids market appears to be marginally fragmented due to the presence of several vendors. This industry research report offers in-depth analysis of the competitive strategies adopted by the vendors to sustain among the competitors in the drilling fluids market. Technavio’s analysts also study the key market areas along with the product offerings of the drilling companies in the market.
The report includes an analysis of a number of companies in this marketspace including -
The water-based fluids segment accounted for the major share of the drilling fluids market during 2017. They are inexpensive and require less maintenance as compared with OBFs. Our analysts predicted that this segment will perform well in the forthcoming years.
In terms of geography, the Americas accounted for the majority of shares in the drilling fluids market during 2017. The market is experiencing high growth due to a large number of oilfields and shale resources in the region and rising investments in the oil and gas industries.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
PART 05: MARKET SIZING
PART 06: FIVE FORCES ANALYSIS
PART 07: MARKET SEGMENTATION BY PRODUCT TYPE
PART 08: MARKET SEGMENTATION BY APPLICATION
PART 09: CUSTOMER LANDSCAPE
PART 10: REGIONAL LANDSCAPE
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
PART 13: MARKET TRENDS
PART 14: VENDOR LANDSCAPE
PART 15: VENDOR ANALYSIS
PART 16: APPENDIX
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