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).
The purpose of the report is to illustrate the state of the market of Drilling Fluids, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2016, and also, to build a forecast for the growth of the industry in the medium term until 2023.
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.
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- Competitive Dashboard
- Key Players
- Anchor Drilling Fluids Inc
- Business Description
- Financial Information
- Product Positions/Portfolio
- Key Developments
- AkzoNobel N.V
- BP PLC
- Baker Hughes Incorporated
- Canadian Energy Services
- Royal Dutch Shell Inc.
- TETRA Technologies
- Other Notable Players
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Drilling Fluids buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
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What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Drilling Fluids contains:
Analysis and forecast of Drilling Fluids market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Drilling Fluids market;
Assessment and forecast of Drilling Fluids market development;
Financial and business profiles of the leading companies in the Drilling Fluids industry.
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– Up to date working Drilling Fluids data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Drilling Fluids for the period 2018 to 2026
– Planned Drilling Fluids additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Drilling Fluids projects by region, key countries, and companies
– Details of major planned Drilling Fluids projects in the world up to 2026
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