Global Drilling Completion Fluids Market Overview
Drilling and completion fluids have wide applications in drilling tasks and to implement several activities. Drilling fluid is actually a composite fluid with contains mixture of clay, chemical, and water. Instead of water, oil is used to get desirable properties End customers use drilling fluids to control formation pressure, besides using these fluids to reduce the friction use. They are also used to minimize formation damage as well as transport and move solids.
Growing use of cutting edge drilling technology by end-users globally has led to in the growth of the drilling and completion fluids market. In addition, application of nanotechnology to curb technological as well as environmental issues is boosting the global market growth worldwide. The rise in the global oil and gas demand has been the major factor propelling growth of the global market and will continue over the forecast period. In 2018, the global oil demand rose by 1.3% due to strong growth in the United States because of large petrochemical project developments. The decline in crude oil prices has affected the upstream industry significantly while benefitting the downstream industry. Moreover, sustainability and ecofriendly drilling completion fluids are creating lucrative growth opportunities for the global market.
The global drilling completion fluids market is segmented based of fluid type, deployment, and region.
Based on fluid type, the global drilling completion fluids market is segmented into water-based fluids, oil-based fluids, and synthetic-based fluids. The water-based fluids segment is anticipated to witness rapid growth over the forecast period, owing to its wide use in drilling as well as low cost, low environmental impact and low disposal costs. Based on deployment, the target market is classified into onshore and offshore.
Based on region the global drilling completion fluids market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global market over the forecast period. This is mainly attributes due to increasing shale activity across U.S, Canada and rising offshore exploration in Gulf of Mexico. According to data published by IEA in 2019, the U.S will lead oil-supply growth over the next six years, owing to incredible strength of its shale industry, triggering a rapid transformation of global oil markets. By 2024, the U.S. is expected to export more oil than Russia and will be nearby to Saudi Arabia. Europe and Asia-Pacific are growing rapidly in terms of the global market demand. Demand is high dominant in some countries such as China, India, United Kingdom, and the Netherlands.
Key players operating in the global drilling completion fluids market includes Schlumberger Limited, Baker Hughes (a GE Company), Halliburton Company, CES Energy Solutions Corp., National-Oilwell Varco Inc., Tetra Technologies Inc., Anchor Drilling Fluids USA Inc. (a QMax Company), Newpark Resources Inc., Chevron Phillips Chemical Company LLC, and Scomi Energy Services BHD. Key players operating in the target market are focusing in new launches. For instance, in February 2017, Chevron Corp., a multinational energy corporation has formed a preliminary agreement with oil services firm Schlumberger NV. It’s the world’s largest oilfield services company to drill six wells in a Brazilian offshore field.
Detailed Segmentation:
Global Drilling Completion Fluids Market, By Fluid Type:
- Water-Based Fluids
- Oil-Based Fluids
- Synthetic-Based Fluids
Global Drilling Completion Fluids Market, By Deployment:
- Onshore
- Offshore
Global Drilling Completion Fluids Market, By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profile:
- Schlumberger Limited *
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Baker Hughes (a GE Company)
- Halliburton Company
- CES Energy Solutions Corp.
- National-Oilwell Varco Inc.
- Tetra Technologies Inc.
- Anchor Drilling Fluids USA Inc. (a QMax Company)
- Newpark Resources Inc.
- Chevron Phillips Chemical Company LLC
- Scomi Energy Services BHD
“*” marked represents similar segmentation in other categories in the respective section
Global Drilling Completion Fluids Market Table of Contents
Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Fluid Type
- Market Snippet, By Deployment
- Market Snippet, By Region
- Opportunity Map Analysis
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Drilling Completion Fluids Market, By Fluid Type, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Water-Based Fluids
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Oil-Based Fluids
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Synthetic-Based Fluids
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Drilling Completion Fluids Market, By Deployment, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Onshore
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Offshore
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Drilling Completion Fluids Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Fluid Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Deployment, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Fluid Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Deployment, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Fluid Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Deployment, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Fluid Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Deployment, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Fluid Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Deployment, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
-
- Schlumberger Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Baker Hughes (a GE Company)
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Halliburton Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- CES Energy Solutions Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- National-Oilwell Varco Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Tetra Technologies Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Anchor Drilling Fluids USA, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Newpark Resources, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Chevron Phillips Chemical Company LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Scomi Energy Services BHD
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Schlumberger Limited
-
- Section
- Research Methodology
- About Us
- Contact
FAQs
The drilling completion fluids market report is segmented into fluid type, deployment, and region.
Factors driving market growth include increased drilling activities, technological advancements in fluid formulations, and the rising demand for wellbore stability during completion operations.
Global restraints may include environmental concerns associated with fluid disposal, regulatory challenges, and the impact of oil price volatility on drilling activities.
The report covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is estimated to dominate the Completion Fluids Market, witnessing a significantly high revenue share over the forecast period.
The key players operating in the oilfield services industry include Baker Hughes (a GE Company), Halliburton Company, CES Energy Solutions Corp., National-Oilwell Varco Inc., Tetra Technologies Inc., Anchor Drilling Fluids USA Inc. (a QMax Company), Newpark Resources Inc., Chevron Phillips Chemical Company LLC, Scomi Energy Services BHD, and Schlumberger Limited.