Drilling Fluids Market Is Expected to Generate Huge Profits by 2023: Vendors- Schlumberger Limited, Halliburton Inc., Baker Hughes Incorporated

Global Drilling Fluids Market Information Report, By Type (Water Based Fluid, Oil-Based Fluid, and Synthetic Based Fluid), By Application (Onshore and Offshore) and By Region - Global Forecast To 2023

Pune, India - October 12, 2017 /MarketersMedia/ —

Drilling fluid is the mixture of water, oil caly, & various chemicals. Drilling fluid is also called as drilling mud. Drillling Fluids plays a crucial role in oil and gas exploration activities. While drilling it perform varioys functions such as mud cools the drill bit and lubricate its teeth, it carries the drill cutting to surface and eliminate the drillpipe stuck problem. Mud maintain the hydrostatic pressure to prevent formation fluids from entering into the well bore. New oil reserves discoveries across the globe and increasing shale gas activities in U.S. driving the growth of the market. Recently, US Geological Survey Agency estimated that, the Bossier and Haynesville Formations, on and offshore along with the U.S. Gulf Coast contains 4 billion barrels of oil, 304.4 trillion cubic feet of natural gas, and 1.9 billion barrels of natural gas liquids. Hence, in the coming years, shale gas drilling in the U.S. is increase significantly, which ultimately increases the demand of drilling fluids. However, stringent government regulations for drilling operations may hamper the growth of the market.

Hence, Drilling Fluids Market is expected to reach a market size of USD 69.9 million by the end of the forecast period at CAGR of 14.05%.

Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/4329

Market Research Analysis
Based on type, water based drilling fluid accounted for the largest market share of 55.90% in 2016, with a market value of USD 4,706.6 Million and is projected to grow at the highest CAGR of 7.52% during the forecast period. Water-based fluids (WBF) are the most commonly used drilling fluid systems. This fluid system is less expensive, requires less chemical treatment before disposal, and their eco-friendly properties are anticipated to fuel the demand of water based fluids during the forecast period. Oil based fluid was the second-largest market in 2016, valued at USD 2,248.0 Million in 2016; it is projected to grow at a CAGR of 6.66%. In oil based fluids, oil is in continuous phase. Oil-based muds are better for greater depths or in directional or horizontal drilling, which place greater stress on the drilling apparatus.

Based on application, onshore accounted for the largest market share of 69.40% in 2016, with a market value of USD 5,843.2 Million and is projected to grow at a CAGR of 6.80% during the forecast period. Offshore was the second-largest market in 2016, valued at USD 2,576.4 Million in 2016; it is projected to grow at the highest CAGR of 7.53%.

The key players of global drillingF fluids market are
• Schlumberger Limited (France),
• Halliburton Inc. (U.S.),
• Baker Hughes Incorporated (U.S.),
• Newpark Resources Inc. (U.S.),
• National Oilwell Varco. (USA),
• Scomi Group Bhd (Malaysia),
• TETRA Technologies, Inc. (U.S.),
• Canadian Energy Services & Technology Corp. (Canada),
• GEO Drilling Fluids, Inc. (U.S.)
• Anchor Drilling Fluids USA, Inc. (U.S.)
• others

For further information on this report, visit @ https://www.marketresearchfuture.com/reports/drilling-fluids-market-4329

Scope of the Report
This study provides an overview of the global drilling fluids market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia-Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Drilling Fluids market by its concrete type, application, end-use and region.
Global Drilling Fluids Market, By Type
• Water Based Drilling Fluid
• Oil-Based Drilling Fluid
• Synthetic Based Drilling Fluid
Global Drilling Fluids Market, By Application
• Onshore
• Offshore

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Info:
Name: Akash Anand
Email: Send Email
Organization: Market Research Future
Address: Magarpatta Road, Hadapsar,
Phone: 6468459349

Source URL: https://marketersmedia.com/drilling-fluids-market-is-expected-to-generate-huge-profits-by-2023-vendors-schlumberger-limited-halliburton-inc-baker-hughes-incorporated/249541

For more information, please visit https://www.marketresearchfuture.com

Source: MarketersMedia

Release ID: 249541

Latest News

The Brexit effect: UK economy grows at 5-year low in 2017

Feb 24, 2018

LONDON — The British economy grew at its slowest rate in five years during 2017 as consumers and businesses were held back by factors directly related to Brexit. Armed with more information following an initial estimate, the Office for National Statistics said Thursday that the British economy expanded by only 0.4 percent in the October to December period, down from 0.5 percent before, largely because of lower than anticipated industrial production. The downgrade reduced overall 2017 growth to 1.7 percent, its lowest since 2012, and confirmed that Britain is one of the slowest-growing Group of Seven economies. Before the June...

Dutch prosecutors reject calls for criminal tobacco case

Feb 24, 2018

THE HAGUE, Netherlands — Dutch anti-smoking activists vowed to fight on Thursday after prosecutors rejected their call for a criminal investigation into four major tobacco companies on charges including attempted murder or manslaughter, on the grounds that such a case would be unlikely to lead to a conviction. The decision was a blow to what Dutch anti-smoking organizations had hoped would be a new legal front in their battle against the tobacco industry, which they argue is criminally liable because it knowingly sells products that can cause deadly disease. Benedicte Ficq , the lawyer who filed the criminal complaint against...

UK's May gathers divided Cabinet, seeking Brexit compromise

Feb 24, 2018

LONDON — British Prime Minister Theresa May was gathering her divided ministers Thursday for a marathon meeting aimed at hammering out a common position on Brexit. May's "inner Cabinet" was due to meet through the afternoon and evening at Chequers, the prime minister's country retreat outside London. The Conservative government is divided between supporters of "hard Brexit," who want a clean break with the EU so Britain can strike new trade deals around the world, and those seeking closer ties to soften the economic shock of leaving. The first group includes Foreign Secretary Boris Johnson and International Trade Secretary Liam...

Amid a flood of plastic, big companies see opportunity

Feb 24, 2018

LONDON — Once a month, accountant Michael Byrne pulls on his rubber boots and makes his way to a spot on the banks of the River Thames. He carefully marks out a one-square meter (11-square foot) patch and, with gloved hands, catalogues each bit of plastic he finds, meticulously reporting the data to the environmental group Thames21. On Aug. 20, for example, he and other volunteers found an average of 31 food wrappers, the sticks from 29 cotton swabs, 12 bottle tops and about 100 pieces of small chewed up plastic in each patch. "We are the data gatherers" who...

Can Brexit be stopped? Pro-EU campaigns try to turn the tide

Feb 24, 2018

LONDON — Britain is due to leave the European Union in just over a year. The country's main political parties agree that the decision can't be reversed. But with the U.K. government divided over the direction Brexit should take, pro-EU campaigners are stepping up efforts to make the country change course. A new anti-Brexit political party, Renew, hopes to mobilize voters disenchanted with the major Conservative and Labour parties, both of whom are committed to taking Britain out of the EU. Inspired in part by French President Emmanuel Macron's centrist En Marche movement, the party is targeting voters who "feel...

Market Sanctum is one of the world’s leading news sources for the currency trading community. Our analysts report on the latest changes in the current market, providing in-depth analysis.

Contact us: sales@marketsanctum.com