Drilling Chemicals Market To Surpass US$ 20,844.4 Mn by 2031
The Drilling Chemicals Market is estimated to be valued at USD 14,140.5 million in 2024, exhibiting a CAGR of 5.7% over the forecast period (2024-2031). The growth of the market is driven by the rising number of mature oil and gas fields and increased oil and gas exploration projects across various regions. Furthermore, the market is also witnessing opportunities from growing shale gas extraction activities around the world.
Link - https://www.coherentmarketinsights.com/market-insight/drilling-chemicals-market-334
Key Development
- In January 2024, SLB and Nabors announced a collaboration to scale the adoption of drilling automation solutions
- In 2022, Ingevity launched new bio-based oilfield products at American Association of Drilling Engineers 2022 Fluids Conference and Exhibition
- In 2022, Castrol launched hydraulic control fluid
- In November 2022, NanoMalaysia Bhd introduced its drilling fluid loss additive called Synergy 10AS Nano after four-year testing and development phase
Key Players: Baker Hughes Company, Halliburton, Schlumberger Limited, Weatherford, Diamoco Group, Royal Dutch Shell Plc, Solvay S.A., The Egyptian Mud Engineering & Chemicals Company, Kemira Oyj, BASF SE, Clariant, ChampionX, Lubrizol Corporation, Stepan Company, Nouryon, Albermarle Corporation, Pure Chemicals Co., Ennor Muds & Chemicals, Core Drilling Chemicals, and S.R. Chemical
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