Global Drilling Fluid Market Size, Share, Growth Analysis, By Product(Oil-based, Synthetic-based), By Application(Onshore and Offshore)

Description

Drilling Fluid Market size was valued at USD 7.7 billion in 2021 and is poised to grow from USD 8 billion in 2022 to USD 11.3 billion by 2030, growing at a CAGR of 4.3% in the forecast period (2023-2030).

The global drilling fluid market is witnessing steady growth due to increasing drilling activities in the oil and gas industry. Drilling fluids, also known as drilling muds, are essential for efficient drilling operations as they aid in wellbore stability, lubrication, and waste management. The market is driven by rising energy demand, technological advancements in drilling techniques, and exploration activities in untapped reserves. Additionally, strict environmental regulations and a focus on sustainable drilling practices are shaping the market dynamics, fostering the development of eco-friendly drilling fluids.

Top-down and bottom-up approaches were used to estimate and validate the size of Drilling Fluid and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The global drilling fluid market is segmented based on product, application, and region. In terms of product the market is segmented into oil-based, synthetic-based, water-based, and others. In terms of application, the market is segmented into onshore and offshore. Geographically, the global drilling fluid market is widespread into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

Drilling fluids are essential in the oil and gas industry, and their demand is closely tied to drilling activity. As drilling activity increases, the need for drilling fluids also rises. Moreover, the market growth of drilling fluids is expected to be driven by advancements in technology for deepwater exploration.

Restrain

The oil and gas sector faces various regulatory pressures, such as health and safety as well as environmental regulations. Complying with these regulations can result in higher costs for drilling operations, including the utilization of drilling fluids.

Trend

The popularity of Deepwater and ultra-Deepwater drilling activities is contributing to the growing demand for drilling fluids. These specific drilling methods require specialized fluids that can effectively operate under challenging high pressure and temperature conditions.

Product Code: SQMIG10D2018

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Drilling Fluid Market by Product

Market Overview
Oil-based
Synthetic-based
Water-based
and Others

Global Drilling Fluid Market by Application

Market Overview
Onshore and Offshore

Global Drilling Fluid Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Schlumberger Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Baker Hughes Company
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Halliburton Company
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
National Oilwell Varco, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Newpark Resources Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Scomi Group Bhd
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
GEO Drilling Fluids, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TETRA Technologies, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Imdex Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
AES Drilling Fluids, LLC
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Gumpro Drilling Fluids Pvt. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Canadian Energy Services & Technology Corp.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Anchor Drilling Fluids USA, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
AMC Drilling Fluids & Products
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Weatherford International plc
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Calumet Specialty Products Partners, L.P.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Global Drilling Fluids and Chemicals Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Aubin Group
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
CETCO Energy Services
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Frontier International
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Drilling Fluid Market Size, Share, Growth Analysis, By Product(Oil-based, Synthetic-based), By Application(Onshore and Offshore) - Industry Forecast 2023-2030