In the Report “Oilfield Drilling Fluid Additives Market: Fluid Viscosifiers (Cellulosics, Others); Corrosion Inhibitors (Oxides, Others); Dispersants (Ionic, Non Ionic); Biocides (Glutaraldehyde, Others); By Defoamers; By Formulation (Water, Oil, Synthetic); By Geography – (2018-2023)” published by IndustryARC, the market is driven by growing offshore drilling activities, and surge in finding potential untapped oil and gas reserves.
North America dominates with major share and growth in the Oilfield Drilling Fluid Additives Market
North America is expected to get a significant amount of growth in Oilfield Drilling Fluid Additives Market. The market has been gaining more than 50% of rising share in 2017 due to growing drilling activities in the areas of Mexico and finding possible opportunities in oil and gas services. North America holds the dominant position due to the increasing U.S. oil sands extraction market. The market is estimated to grow at a CAGR of 2.48% to reach revenue of $942.18 million by 2023 from $824.88 million in 2017. Asia-Pacific oilfield drilling fluid additives market is anticipated to grow at a faster CAGR of 2.81% to reach a revenue of $296.58 million by 2023 from $254.696 million 2017. Ongoing efforts of China in Enhanced Oil Recovery (EOR) technique and deepwater drilling activities are increasing in India, Japan, and South Korea in the oil refining operation, where oilfield chemicals will experience robust growth in the market.
Selected Fluid Formulation has done in the full Report:
Water-based fluids, oil-based fluids and synthetic based fluids are the segments of type fluid formulation in Oilfield Drilling Fluid Additives Market. Among all, water-based fluids generated the highest revenue of $757.07 million in 2017 in the global market. Findings say water-based fluids segment is estimated to grow at a CAGR of 3.52% to reach a revenue of $918.74 million in 2023. Water-based lubricants are generally preferred to be utilized as a drilling lubricant. Oil based fluids are the second most utilized additives that generated revenue of $547.42 million in 2017. The oil-based fluids market is expected to grow at a CAGR of 2.60% to reach revenue of $629.73 million. Increasing oil production over the years has helped the synthetic based fluid market to grow in oil drilling field additives market. The synthetic-based fluids are predicted to grow at a CAGR of 1.44% to reach revenue of $290.53 million by 2023.
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Excerpts on Market Growth Factors
- Bentonite and attapulgite are the drilling mud additives used to control the fluid-loss and cleaning effectiveness in the drilling process. The characters such as low colloidal content, effective inhibition, shear-thinning behaviour and non-dispersed system in order to get the maximum drilling performance are helping to lead in the market.
- The recent development of deepwater and ultra-deepwater operations will bring significant new and more technical complex to harsh conditions. In order to overcome the challenges, the biopolymer fluid viscofiers will play an important role with respect to its environment based advantage.
- The negative impact of oil-based defoamers on the environment has been a major reason for the slow growth in this segment. So, water-based defoamers have fueled their demand in the petrochemical sector.
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Key players of the Oilfield Drilling Fluid Additives Market
Oilfield Drilling Fluid Additives Market is extremely dominated due to competition among the dominant players such as BASF, Chevron Philips Chemical Company, E.I. Du Pont De Nemours and Company. BASF SE has its core drill function as Bentonite Extenders, DewateringAdditives, Fluid Loss Additives, Shale Inhibitors, Thinners, Viscosifiers with patent named as Alcomer 180, Alcomer 1771, Alcomer 24, 80, 90 types, Alcomer 700,800 types, Alcomer 7100 types etc. Du Pont De Nemours And Company launched its products in the year between 2013-2016. The products are DuPont Capstone and DuPont Viton. Chevron Corporation has a combination of products such as Defoamers, Oil Mud, and viscosifiers.
Oilfield Drilling Fluid Additives Market report is segmented as below
- Oilfield Drilling Fluid Additives – Market by Fluid Formulation
- Water Based
- Oil Based
- Synthetic Based
- Oilfield Drilling Fluid Additives Market- by Type
- Fluid Viscosifiers
- Corrosion Inhibitors
- Surface Modifiers
- Water Based
- Oil Based
- Silicone Based
- Alkyl Polyacrylates Based
- TetrakisHydroxymethylPhosphonium Sulfate (THPS)
- Oilfield Drilling Fluid Additives Market by Geography (covers 10+ countries)
- Oilfield Drilling Fluid Additives Entropy Market
Companies Cited / Interviewed
- The Dow Chemical Company
- Croda International Plc
- Lubrizol Corporation
- Stepan Company
- Akzo Nobel N.V
- Clariant Ag
- Ashland, Inc.
- Company 8
- Company 9
- Company 10+
What can you expect from the report?
The Oilfield Drilling Fluid Additives MarketReport is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
- Market trends & Relevant Market Data 12. Country-level Analysis
- Manufacturer Landscape 13. Competitor Analysis
- Distributor Landscape 14. Market Shares Analysis
- Pricing Analysis 15. Value Chain Analysis
- Top 10 End-user Analysis 16. Supply Chain Analysis
- Product Benchmarking 17. Strategic Analysis
- Product Developments 18. Current & Future Market Landscape Analysis
- Mergers & Acquisition Analysis 19. Opportunity Analysis
- Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
- Does IndustryARC publish country or application based reports in Oilfield Drilling Fluid Additives Market segment?
Response: Yes, we do have separate reports as mentioned below:
- America Oilfield Drilling Fluid Additives Market(2018-2023)
- Europe Oilfield Drilling Fluid Additives Market(2018-2023)
- Asia-Pacific Oilfield Drilling Fluid Additives Market(2018-2023)
- Type Oilfield Drilling Fluid Additives Market(2018-2023)
- FormulationOilfield Drilling Fluid Additives Market(2018-2023)
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