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    Drilling And Completion Fluids Market Report

    Drilling And Completion Fluids Market Report
    Report code - SROG118 Delivery - 2 Weeks
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    Drilling and Completion Fluids Market Size, Share, Trend, Forecast, & Competitive Anal See more...

    Impact of COVID-19 on Drilling And Completion Fluids Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Drilling And Completion Fluids Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Drilling and Completion Fluids Market is likely to witness an impressive CAGR of 6.0% during the forecast period. The growth of the drilling & completion fluids market is majorly driven by the surge in drilling activities and increase in drilling and exploration of shale gas. The demand for the drilling and completion fluids market snowballs with the rise in drilling and exploration activities.

    Drilling and Completion Fluids Market - Snapshot

    Growth

    6.0% for the next five years

    Major Well Type

    Conventional Wells

    Major Fluid System Type

    Water-based Fluid

    Dominant Application Type

    Onshore

    Region with the highest demand

    North America

    Key Players

    BHGE (US), Halliburton (US), Schlumberger (US), Newpark Resources (US), and Tetra Technologies (US).

    Segment Analysis

    Drilling-and-Completion-Fluids-Market-Dominant-Segments

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    Drilling and Completion Fluids Market Share: By Application Type

    Based on the application type, the market is segmented as onshore and offshore. The onshore segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. The mounting use of drilling fluids in the hard rock drilling process is expected to boost the onshore applications market for drilling and completion fluids.

    Drilling and Completion Fluids Market Share: By Fluid System Type

    Based on the fluid system type, the market is further segmented as water-based, oil-based, synthetic-based, and others. The water-based fluid systems segment is expected to remain dominant during the forecast period. They are suitable for onshore and offshore drilling activities. Further, being economical as compared to non-aqueous based fluids, is another factor that drives the growth of this segment.

    Drilling and Completion Fluids Market Share: By Well Type

    Based on the well type, the drilling and completion fluids market is segregated as HPHT wells and conventional wells. The HPHT wells segment is estimated to register faster growth during the forecasted period. The technological advancements have immensely supported to overcome the challenges faced in drilling HPHT wells. In addition, owing to the fact that as most of the conventional wells are mature, there remains an increased need for drilling of HPHT wells to find new hydrocarbon reserves.

    Drilling and Completion Fluids Market Share: By Region

    In terms of regions, the market in North America is estimated to be the largest region in the drilling and completion fluids market during the forecast period. Factors influencing the growth of the market are increase in drilling activities and surge in the exploration of shale gas reserves. Asia-Pacific and Europe are also likely to offer sizeable growth opportunities during the forecast period.

    Drilling-and-Completion-Fluids-Market-By-Region

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    Market Scope & Segmentation

    Drilling and completion fluid market defines the completion fluid as a liquid used by the oil and gas industry during fulfillment of an oil or gas well. It is a low solid mud or salt solution (brine) that is used for well testing and upon a well's completion. It is intended to reduce formation damage and to control formation pressure.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Drilling and Completion Fluids Market Research Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The drilling and completion fluids market is segmented into the following categories. 

    Drilling and Completion Fluids Market Size, Share, & Forecast, by Application Type:

    • Onshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Drilling and Completion Fluids Market Size, Share, & Forecast, by Fluid System Type:

    • Water-Based (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Oil-Based (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Synthetic-Based (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Drilling and Completion Fluids Market Size, Share, & Forecast, by Well Type:

    • HPHT wells (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Conventional Wells (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Drilling and Completion Fluids Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Drilling-and-Completion-Fluids-Market-Segmentation

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    Key Players

    Some of the major players in this market are-

    • BHGE (US)
    • Halliburton (US)
    • Schlumberger (US)
    • Newpark Resources (US)
    • Tetra Technologies (US)

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the well types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]

    General Frequently Asked Questions (FAQs)

    Drilling and completion fluids are used in completion operations for oil and gas wells. These are free from solid particles and other things that can become a hindrance to the process. Drilling and completion fluids are used in HPHT wells as well as the conventional wells. Water-based, oil-based. Synthetic-based, and others are some of the drilling and completion fluid system types.

    Drilling and Completion Fluids Market is likely to witness an impressive CAGR of 6.1% during the forecast period. The upsurge in shell gas exploration and the growth in onshore and offshore drilling activities are the factors driving the drilling and completion fluids market globally.

    In terms of regions, North America is expected to be the largest market for drilling and completion fluids during the forecast period.

    Some of the major players in the drilling and completion fluids market are Halliburton Company, Schlumberger Limited, Newpark Resources Inc., Tetra Technologies Inc., National Oilwell Varco Corporation, Secure Energy Services Inc., Weatherford International, Sagemines, Scomi Group Berhad, and Global Drilling and Chemicals.

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