Drilling Fluids Market to Grow at CAGR 8% Till 2021: TechSci Research Report
Increasing demand from onshore explorations, especially in North America and Asia-Pacific to drive global drilling fluids market through 2021
Washington, DC, October 21, 2016 --(PR.com)-- According to a TechSci Research report “Global Drilling Fluids Market By Type, By Application, By Region, Competition Forecast & Opportunities, 2011 - 2021,” the global market for drilling fluids is forecast to grow at a CAGR of over 8% during 2016-2021, on account of forecasted rebound in oil & gas prices, and drilling activities across the globe, especially in North America and Asia-Pacific. Rising demand for drilling fluids in North America and Asia-Pacific can be attributed to restart of fracturing jobs and growth in exploration of unconventional shale gas/oil reserves in the United States and China.
Browse 95 Figures spread through 186 Pages and an in-depth TOC on "Global Drilling Fluids Market"
https://www.techsciresearch.com/report/global-drilling-fluids-market-by-type-water-based-oil-based-synthetic-and-pneumatic-fluids-by-application-onshore-and-offshore-by-region-asia-pacific-north-america-europe-etc-competition-forecast-and-opportunities-2011-2021/790.html
Onshore explorations are projected to dominate global drilling fluids market through 2021, due to less capex and increasing investments in cost effective onshore drilling activities. Additionally, a slump in crude oil & gas prices during 2014-2016 is anticipated to reduce investments in offshore explorations. Thus, in 2015, offshore investments garnered a share of only 20% in global upstream spending. Further, this capital expenditure is projected to decline by 20-25% in 2016, on account of reduction in exploration budgets by international oil companies. Few of the leading companies operating in global drilling fluids market include Schlumberger, Halliburton, Baker Hughes, Newpark Resources, Inc. and many others engaged in designing mud engineering plans for supplying drilling fluids/additives.
‘’Various major drilling fluid suppliers have established dedicated laboratories to test and validate quality of drilling fluids and increase focus on developing new, environment friendly and efficient drilling fluids. R&D facilities also emphasize on developing down-hole drilling fluids hydraulics simulators for developing fluids systems for challenging conditions. One such development is the use of nanotechnology in drilling fluid production. Nanoparticles are capable of enhancing the stability of drilling fluids at high pressure and temperature conditions. Additionally, nanomaterials based drilling muds are capable of decreasing the sticking tendency of mud cakes by forming a thin film covering over the drill pipe. Such new product developments are forecast to boost growth in the global drilling fluids market in the ensuing years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Drilling Fluids Market By Type, By Application, By Region, Competition Forecast & Opportunities, 2011 - 2021” has evaluated the future growth potential of the global drilling fluids market and provided statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in the global drilling fluids market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
Browse 95 Figures spread through 186 Pages and an in-depth TOC on "Global Drilling Fluids Market"
https://www.techsciresearch.com/report/global-drilling-fluids-market-by-type-water-based-oil-based-synthetic-and-pneumatic-fluids-by-application-onshore-and-offshore-by-region-asia-pacific-north-america-europe-etc-competition-forecast-and-opportunities-2011-2021/790.html
Onshore explorations are projected to dominate global drilling fluids market through 2021, due to less capex and increasing investments in cost effective onshore drilling activities. Additionally, a slump in crude oil & gas prices during 2014-2016 is anticipated to reduce investments in offshore explorations. Thus, in 2015, offshore investments garnered a share of only 20% in global upstream spending. Further, this capital expenditure is projected to decline by 20-25% in 2016, on account of reduction in exploration budgets by international oil companies. Few of the leading companies operating in global drilling fluids market include Schlumberger, Halliburton, Baker Hughes, Newpark Resources, Inc. and many others engaged in designing mud engineering plans for supplying drilling fluids/additives.
‘’Various major drilling fluid suppliers have established dedicated laboratories to test and validate quality of drilling fluids and increase focus on developing new, environment friendly and efficient drilling fluids. R&D facilities also emphasize on developing down-hole drilling fluids hydraulics simulators for developing fluids systems for challenging conditions. One such development is the use of nanotechnology in drilling fluid production. Nanoparticles are capable of enhancing the stability of drilling fluids at high pressure and temperature conditions. Additionally, nanomaterials based drilling muds are capable of decreasing the sticking tendency of mud cakes by forming a thin film covering over the drill pipe. Such new product developments are forecast to boost growth in the global drilling fluids market in the ensuing years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Drilling Fluids Market By Type, By Application, By Region, Competition Forecast & Opportunities, 2011 - 2021” has evaluated the future growth potential of the global drilling fluids market and provided statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in the global drilling fluids market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
Contact
TechSci Research
Ken Mathews
+1 646 360 1656
www.techsciresearch.com
2950 Boundary Road
Burnaby, British Columbia,
Canada – VM5 3Z9
Ken Mathews
+1 646 360 1656
www.techsciresearch.com
2950 Boundary Road
Burnaby, British Columbia,
Canada – VM5 3Z9
Contact
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