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Drilling and Completion Fluids Market: Industry size terms of value, technological advancement, macro economical, governing factors in market
Feb 25, 2019 (MarketersMedia via COMTEX) —
Global Drilling and Completion Fluids Market Research Report: Information By Well Type (Land and Offshore), by Type (Water, Oil, Synthetic, Foam, and others), and By Regions (North America, Europe, APAC, and Middle East & Africa) – Forecast till 2023
Global Drilling and Completion Fluids Market
The global drilling and completion fluids market is expected to witness exponential growth during the forecast period. North Sea in the Europe region and Africa region held the major market share, owing to new oil discoveries from these regions. In 2018, discoveries attributed from Egypt, Nigeria, and Norwegian Sea and from deep-water of U.K. sector of North Sea. Furthermore, the Middle East and Asia Pacific are likely to follow the market share with increasing exploration activities in these regions and huge potential resources in areas such as, South China Sea, Bahrain, Kuwait and Russia. Bahrain has announced a significant discovery of around 80-billion-barrel oil field. The growth of drilling and completion fluids market is attributed to the increasing demand for oil.
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Drilling and Completion Fluids Market – Overview
The benefits provided by drilling and controlling fluids such as controlling pressure and transmittal of data are the key drivers of the demand for the market. The increased discovery activities globally have spurred the expansion of the drilling and controlling fluids market. Moreover, the escalated need for a strategic and a well-maintained drilling fluid system is projected to provide significant opportunities for the market for drilling and completion fluids in the upcoming years.
Detailed Regional Analysis
The fundamental competitors functioning in the drilling and completion fluids market are Schlumberger (U.S.), Halliburton (U.S.), China oilfield services Ltd. (China), Newpark Resources Inc. (U.S.), Weatherford International Plc. (U.S.), M-I Swaco (U.S.). National Oilwell Varco (U.S.), BASF SE (Germany), DuPont (U.S.), Chevron Phillips Chemical Company (U.S.), AkzoNobel N.V. (Netherlands), Stellar Drilling Fluids LLC (U.S.), The Dow Chemical Company (U.S.) and, Scomi Group (Malaysia) are among others.
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Table of Content
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Release ID: 485738
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