According to a new market report published by Credence Research “Global Drilling Fluids Market is expected to reach US$ 11.2 Bn by 2023, expanding at a CAGR of 5.1% during the forecast period (2016-2023).
Credence Research, the leading business intelligence provider, has published its latest research, “Drilling Fluids Market 2023″, which gives insights into Drilling Fluids in the Global market. The report determines the market size for 2018, along with forecasts until 2023. It is built using data and information sourced from exclusive databases, primary and secondary research, and in-house analysis carried out by Credence Research’s team of industry experts.
Drilling Fluids refers to the liquid and gaseous fluid or mixtures of fluids and solids used in drilling operations. They are widely used to provide lubrication, cooling to the drill bit, remove cuttings from the well, control formation pressure, seal permeable formations, and maintain wellbore stability in drilling operation for extraction of hydrocarbons from the earth surface. Drilling fluids are also known as drilling mud. Drilling fluids are generally classified as water based, oil based and synthetic fluids.
Drilling fluids market for oil & gas industry is expected to gain significant growth with increasing drilling activities for the production of hydrocarbons. Growing energy demand from various industries such as power, manufacturing and transportation is projected to augment the growth of drilling fluids during the forecast period. Moreover, growing drilling activities on offshore reserve along with growing exploration of non-conventional shale gas reserves is expected to fuel the demand for drilling fluids over the forecast period (2016-2023). However, slowdown oil and gas industry, increasing use of alternative energy sources such as solar, wind along with environmental concerns over usage and disposal of drilling fluids is anticipated to restrain the growth of drilling fluids market during the forecast period (2016-2023).
Anchor Drilling Fluids Inc
Baker Hughes Incorporated
Canadian Energy Services
Royal Dutch Shell Inc.
Other Notable Players
- The report presents the brief overview of Drilling Fluids Market including business description, key information and facts, and its locations and subsidiaries
- The report features product description and descriptive mechanism of action for key products along with the products developmental history and major milestones
- Special feature on out-licensed and partnered product portfolio
- The report summarizes all the dormant and discontinued projects
- Latest company statement
- Latest news and deals relating to the Drilling Fluids products
Browse Here For Full Report: https://www.credenceresearch.com/report/drilling-fluids-market
The following research methods were used in this report:
- Desk study
- A questionnaire survey among specialty retail chains
- Analyzing statistical data released by the Federal Customs Service
- Desk study sources include materials taken from print and online media conference materials.
Reasons to Buy
- The report provides information about technology solutions needed for the implementation of Drilling Fluids projects, and allows readers to make effective business decisions
- The report helps readers to strengthen strategic framework by understanding the business benefits to be achieved through Drilling Fluids solutions
- The report highlights projected investment on Drilling Fluids over the next two years. This will help organizations to allocate budget towards Drilling Fluids implementation and business expansion
- The report helps executives plan their adoption of Drilling Fluids by providing expected timeframes for implementation
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