Drilling Fluids Market 2028 by Types, Application, Technology, Opportunities, End Users and Regions | The Insight Partners

MARKET OVERVIEW

The drilling fluid, also known as drilling mud, is a heavy, viscous fluid mixture utilized in oil and gas drilling operations to carry rock cuttings to the surface and lubricate and cool the drill bit. In geotechnical engineering, drilling fluids are utilized to assist the drilling of boreholes into the earth.  Drilling fluids are of various types, such as oil-based, synthetics-based, and water-based.

MARKET SCOPE

The “Global Drilling Fluids Market Analysis to 2028” is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the drilling fluids market with detailed market segmentation by type, application and geography. The report provides key statistics on the market status of the leading drilling fluids market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on type, the global drilling fluids market is segmented into water-based, oil-based, and synthetic-based.
• Based on the application, the market is segmented as onshore and offshore.

MARKET DYNAMICS

Drivers

• Discovery of new oil reserves
• Rising investments in oil exploration activities

Restraints

• Strict government regulations and huge capital costs involved in drilling

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The drilling fluids market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the drilling fluids market in these regions.

IMPACT OF COVID-19 ON DRILLING FLUIDS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

KEY MARKET PLAYERS

The report covers key developments in the drilling fluids market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from drilling fluids market are anticipated to lucrative growth opportunities in the future with the rising demand for drilling fluids in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the drilling fluids market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Baker Hughes, Inc.
• Halliburton, Inc.
• Weatherford International
• TETRA Technologies, Inc.
• Canadian Energy Services and Technology Corporation.
• Schlumberger Limited.
• Anchor Drilling Fluids USA, LLC.
• Petrochem Performance Chemicals Ltd. LLC.
• International Drilling Fluids and Engineering Services (IDEC) Ltd.
• Scomi Group Bhd

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.