Global Oilfield Drilling Fluids Market 2018-2022

Overview of the global oilfield drilling fluids market

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.

Companies covered

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 -

• BASF
• GENERAL ELECTRIC
• Halliburton
• Newpark Resources
• Schlumberger

Segmentation by product type and analysis of the oilfield drilling fluids market

• Water-based fluids
• Oil-based fluids
• Synthetic-based fluids

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.

Geographical segmentation and analysis of the oilfield drilling fluids market

• Americas
• APAC
• EMEA

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.

Key questions answered in the report include

• What will the market size and the growth rate be in 2022?
• What are the key factors driving the global oilfield drilling fluids market?
• What are the key market trends impacting the growth of the global oilfield drilling fluids market?
• What are the challenges to market growth?
• Who are the key vendors in the global oilfield drilling fluids market?
• What are the market opportunities and threats faced by the vendors in the global oilfield drilling fluids market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global oilfield drilling fluids market?

Technavio also offers customization on reports based on specific client requirement.