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

Brazilians heave sigh of relief with World Cup win

Jun 24, 2018

RIO DE JANEIRO — Brazilians breathed a sigh of relief Friday after the national team scored two stoppage time goals to beat Costa Rica 2-0 at the World Cup, bringing it closer to a berth in the round of 16. With yellow-and-green T-shirts and Brazilian flags draped over their shoulders, thousands of people across Latin America's biggest country gathered in bars, restaurants, coffee shops and public squares to watch the game on large TV screens. They went wild when Philippe Coutinho and Neymar scored Brazil's two goals with only a few minutes left in the game. The narrow streets, homes...

Jarrod Lyle going through "scary" period in cancer recovery

Jun 24, 2018

MELBOURNE, Australia — Jarrod Lyle's wife says the Australian golfer is struggling through a "really scary" period in his third battle with cancer. Lyle, 36, underwent a bone marrow transplant last December following a recurrence of acute myeloid leukemia. "It's been 190 days since Jarrod's stem-cell transplant and we are going through a really rough patch at the moment," Briony Lyle wrote on jarrodlylegolf.com. "I'm typing this blog on his behalf because he's not able to do it. Jarrod's not able to drive, struggles to prepare any food for himself, can't read stories to the girls and is not able...

From shrieks in bucket to laughs, Brazil Zika baby improves

Jun 24, 2018

BONITO, Brazil — It's well before dawn, but Jose Wesley Campos giggles nonstop as his mother plays with his thick glasses while preparing to take the toddler to a doctor's appointment three hours away. "Sometimes, it is as if he swallowed a clown," said his mother, Solange Ferreira. That is a happy contrast from the child's first months, when Jose, who was born with an abnormally small head amid an outbreak of the Zika virus in northeast Brazil, would shriek uncontrollably. Desperate, Ferreira would calm the boy by putting him in a bucket of water. Images of Jose in the...

Some Brazil 'Zika kids' try school, others fight to survive

Jun 24, 2018

FREI MIGUELINHO, Brazil — On Tuesdays, 18-month-old Joaquim Santos spends an hour sitting by himself in a corner of a special needs classroom in this small city in northeast Brazil, one of the country's poorest regions and one hit hard by the Zika virus. Two harried teachers look on as other toddlers play around Joaquim, who has severe developmental delays after being born with a small head. As limited as Joaquim is in the early education classroom, his family and doctors say he is lucky to be there. "When Joaquim was born I thought he was going to be in...

Australian playwright disappointed censors axed Beijing play

Jun 24, 2018

CANBERRA, Australia — Renowned Australian playwright David Williamson said Tuesday that he is disappointed Chinese censors have canceled a production of his play "The Removalists" for the official reason that it contains bad language and violence. The 76-year-old said some involved in the production suspect the true reason the classic Australian play was banned was its depiction of police abusing their authority — a sensitive issue in China. The play was axed during a period of intense diplomatic tensions between China and Australia over Australian policies including a proposed ban on foreign interference in domestic politics. Australian beef and wine...

Diver Haven is brought to you by a team of tech-savvy diving enthusiasts. Diver of all walks of life be it recreational to professional, scuba or freedivers are always welcome.

Contact us: sales[at]diverhaven.com