Drilling Fluids are mud mixtures used to aid in drilling oil and gas wells. These muds carry rock cuttings to the surface and lubricate and cool the drill bit. They also help avoid the collapse of unstable strata into the borehole and the intrusion of water from water-bearing formations. A well-prepared mud can also prevent contamination of the surrounding environment. Waste mud is typically stored in a dedicated pit, which can be lined with brick or pressure treated wood. A separate storage pit may be used to hold drilling fluid that is not being used or pumped at a particular time, such as after a rig has been shut in for a workover or completion operation.
The significant increase in the number of shale gas drilling operations taking place across North America and other regions driving the demand for drilling muds with higher viscosity. This in turn is expected to propel growth of the global drilling fluids market over the forecast period.
However, a major restraint in the market is the environmental impact of using drilling fluids. These fluids contain toxic chemicals that are discharged into the groundwater during the down-hole injection and onshore disposal processes. This factor in turn is expected to hinder growth of the global drilling fluids market over the forecast period.
Key features of the study:
- This report provides in-depth analysis of the global drilling fluids market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global drilling fluids market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Baker Hughes Company, Schlumberger Limited, Weatherford, DIAMOCO Group, Conquest Drilling, QMax, ChemFor, Dynamic Drilling Fluids, Halliburton, Newpark Resources Inc., AES Drilling Fluids, NOV Inc., Stellar Drilling Fluids. LLC, Secure Energy, Total Energies, and Valence Drilling Fluids, LLC
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global drilling fluids market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global drilling fluids market
- Global Drilling Fluids Market, By Application:
- Global Drilling Fluids Market, By Product:
- Water-Based Drilling Fluids
- Oil-Based Drilling Fluids
- Synthetic-Based Drilling Fluids
- Others (Foams, Mist, Gas, Dust, Aerated Liquid)
- Global Drilling Fluids Market, By Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- Baker Hughes Company
- Schlumberger Limited
- DIAMOCO Group
- Conquest Drilling
- Dynamic Drilling Fluids
- Newpark Resources Inc.
- AES Drilling Fluids
- NOV Inc.
- Stellar Drilling Fluids. LLC
- Secure Energy
- Total Energies
- Valence Drilling Fluids, LLC