Drilling Fluid Market Report: Trends, Forecast and Competitive Analysis to 2030

Drilling Fluid Trends and Forecast

The future of the global drilling fluid market looks promising with opportunities in the onshore and offshore markets. The global drilling fluid market is expected to reach an estimated $11.5 billion by 2030 with a CAGR of 4.4% from 2024 to 2030. The major drivers for this market are growing need in the energy industry, increasing demand for crude oil, and high focus for ultra-deepwater drilling activities.

A more than 150-page report is developed to help in your business decisions.

Drilling Fluid by Segment

The study includes a forecast for the global drilling fluid by product, application, and region.

Drilling Fluid Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Oil-Based
• Water-Based

Drilling Fluid Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Onshore
• Offshore
• Others

Drilling Fluid Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Drilling Fluid Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies drilling fluid companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the drilling fluid companies profiled in this report include-

• Baker Hughes
• Halliburton
• Weatherford International
• Schlumberger
• Newpark Resources
• Petrochem Performance Chemical
• CES Energy Solutions

Drilling Fluid Market Insights

Lucintel forecasts that water-based will remain the largest segment over the forecast period due to increasing concern regarding toxicity and biodegradation of other drilling fluids, it is easy to use and has discharge feature in offshore activities, and rising demand for an efficient fluid system in high-pressure and high-temperature wells.

North America will remain the largest segment over the forecast period due to high demand in shale gas exploration, increasing oil and gas production with significant oil field development, particularly in the U.S. in this region.

Features of the Global Drilling Fluid Market

Market Size Estimates: Drilling fluid market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Drilling fluid market size by product, application, and region in terms of value ($B).

Regional Analysis: Drilling fluid market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product, application, and regions for the drilling fluid market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the drilling fluid market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the drilling fluid market size?

Answer: The global drilling fluid market is expected to reach an estimated $11.5 billion by 2030.

Q.2 What is the growth forecast for drilling fluid market?

Answer: The global drilling fluid market is expected to grow with a CAGR of 4.4% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the drilling fluid market?

Answer: The major drivers for this market are growing need in the energy industry, increasing demand for crude oil, and high focus for ultra-deepwater drilling activities.

Q4. What are the major segments for drilling fluid market?

Answer: The future of the global drilling fluid market looks promising with opportunities in the onshore and offshore markets.

Q5. Who are the key drilling fluid market companies?

Answer: Some of the key drilling fluid companies are as follows:

• Baker Hughes
• Halliburton
• Weatherford International
• Schlumberger
• Newpark Resources
• Petrochem Performance Chemical
• CES Energy Solutions

Q6. Which drilling fluid market segment will be the largest in future?

Answer: Lucintel forecasts that water-based will remain the largest segment over the forecast period due to increasing concern regarding toxicity and biodegradation of other drilling fluids, it is easy to use and has discharge feature in offshore activities, and rising demand for an efficient fluid system in high-pressure and high-temperature wells.

Q7. In drilling fluid market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest segment over the forecast period due to high demand in shale gas exploration, increasing oil and gas production with significant oil field development, particularly in the U.S. in this region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the drilling fluid market by product (oil-based and water-based), application (onshore, offshore, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?