Drilling Fluids Market Research Report Analysis And Forecast 2025: Grand View Research Inc.

Drilling Fluids Market.jpg

San Francisco, 6 December 2019: The Report Drilling Fluids Market Size, Share & Trends Analysis Report By Product (Oil-Based, Synthetics-Based, Water-Based), By Application (Onshore, Offshore), By Region, And Segment Forecasts, 2019 – 2025

The global drilling fluids market size is projected to reach USD 10.12 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to witness a moderate CAGR of 3.8% over the forecast period, from 2019 to 2025. Revival of new E&P projects along with several upcoming exploration and production bids over the next few years is predicted to spur the market growth over the forecast period.

Development of advanced formulations and performance additives mainly for wells where horizontal or directional drilling is required is projected to create huge opportunities for the industry expansion. Strict regulatory mandates by government regulatory bodies are expected to alter the growth owing to the potential environmental risk associated with upstream operations.

Governments of various countries including U.S, China, India, Australia, and G20 nations, support development of natural gas resources and have undertaken several favorable initiatives to extract hydrocarbons from conventional as well as unconventional sources, such as shale, CBM, and tight gas. Re-initiation of various offshore as well as shale gas basin operations post recovery of crude oil prices during 2017 to 2018 is also anticipated to drive the demand for drilling fluid significantly.

Water based fluids was the most prominent product segment and accounted for over 51% of the total market share in terms of revenue in 2018. The oil-based muds segment has been projected to expand to over USD 2.60 billion by 2025, at CAGR of 2.6% from 2019 to 2025.

Access Research Report of Drilling Fluids Market @ https://www.grandviewresearch.com/industry-analysis/drilling-fluids-market-analysis

Further key findings from the report suggest:
  • Onshore segment is anticipated to increase the revenue up to USD 6.01 billion by 2025, at a CAGR of 3.5% over the forecast period
  • In 2018, North America held approximately 25% of the global drilling fluids market share owing to favorable government initiatives in U.S. and Canada
  • S. drilling mud industry has been predicted to capture over 77% of North American market by 2025, expanding at a CAGR of 3.8% over the next seven years
  • Asia Pacific is expected to reach USD 1.50 Billion by 2025 owing to growing E&P activities in countries such as China and Indonesia
  • Large unexplored shale reserves along with anticipated project initiation in several offshore basins in the South China Sea offers lucrative opportunities for market expansion in China in the forthcoming years
  • Russia was valued at USD 1.06 billion in 2018 and is estimated to expand at a CAGR of 3.5% from 2019 to 2025
  • Major market players include Weatherford International, Baker Hughes, Halliburton, National Oilwell Varco, and Schlumberger
Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives

Grand View Research has segmented the global drilling fluids market on the basis of product, application, and region:
Drilling Fluids Product Outlook (Revenue, USD Million, 2014 - 2025)
  • OBF
  • SBF
  • WBF
  • Others
Drilling Fluids Application Outlook (Revenue, USD Million, 2014 - 2025)
  • Onshore
  • Offshore
Drilling Fluids Regional Outlook (Revenue, USD Million, 2014 - 2025)
  • North America 
  • Europe 
  • Asia Pacific 
  • Central & South America 
  • Middle East 
  • Africa 
Access Press Release of Drilling Fluids Market @ https://www.grandviewresearch.com/press-release/global-drilling-fluids-market

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com

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