Drilling Fluids Market Is Expected to Generate Huge Profits by 2023: Vendors- Schlumberger Limited, Halliburton Inc., Baker Hughes Incorporated

Global Drilling Fluids Market Information Report, By Type (Water Based Fluid, Oil-Based Fluid, and Synthetic Based Fluid), By Application (Onshore and Offshore) and By Region - Global Forecast To 2023

Pune, India - October 12, 2017 /MarketersMedia/ —

Drilling fluid is the mixture of water, oil caly, & various chemicals. Drilling fluid is also called as drilling mud. Drillling Fluids plays a crucial role in oil and gas exploration activities. While drilling it perform varioys functions such as mud cools the drill bit and lubricate its teeth, it carries the drill cutting to surface and eliminate the drillpipe stuck problem. Mud maintain the hydrostatic pressure to prevent formation fluids from entering into the well bore. New oil reserves discoveries across the globe and increasing shale gas activities in U.S. driving the growth of the market. Recently, US Geological Survey Agency estimated that, the Bossier and Haynesville Formations, on and offshore along with the U.S. Gulf Coast contains 4 billion barrels of oil, 304.4 trillion cubic feet of natural gas, and 1.9 billion barrels of natural gas liquids. Hence, in the coming years, shale gas drilling in the U.S. is increase significantly, which ultimately increases the demand of drilling fluids. However, stringent government regulations for drilling operations may hamper the growth of the market.

Hence, Drilling Fluids Market is expected to reach a market size of USD 69.9 million by the end of the forecast period at CAGR of 14.05%.

Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/4329

Market Research Analysis
Based on type, water based drilling fluid accounted for the largest market share of 55.90% in 2016, with a market value of USD 4,706.6 Million and is projected to grow at the highest CAGR of 7.52% during the forecast period. Water-based fluids (WBF) are the most commonly used drilling fluid systems. This fluid system is less expensive, requires less chemical treatment before disposal, and their eco-friendly properties are anticipated to fuel the demand of water based fluids during the forecast period. Oil based fluid was the second-largest market in 2016, valued at USD 2,248.0 Million in 2016; it is projected to grow at a CAGR of 6.66%. In oil based fluids, oil is in continuous phase. Oil-based muds are better for greater depths or in directional or horizontal drilling, which place greater stress on the drilling apparatus.

Based on application, onshore accounted for the largest market share of 69.40% in 2016, with a market value of USD 5,843.2 Million and is projected to grow at a CAGR of 6.80% during the forecast period. Offshore was the second-largest market in 2016, valued at USD 2,576.4 Million in 2016; it is projected to grow at the highest CAGR of 7.53%.

The key players of global drillingF fluids market are
• Schlumberger Limited (France),
• Halliburton Inc. (U.S.),
• Baker Hughes Incorporated (U.S.),
• Newpark Resources Inc. (U.S.),
• National Oilwell Varco. (USA),
• Scomi Group Bhd (Malaysia),
• TETRA Technologies, Inc. (U.S.),
• Canadian Energy Services & Technology Corp. (Canada),
• GEO Drilling Fluids, Inc. (U.S.)
• Anchor Drilling Fluids USA, Inc. (U.S.)
• others

For further information on this report, visit @ https://www.marketresearchfuture.com/reports/drilling-fluids-market-4329

Scope of the Report
This study provides an overview of the global drilling fluids market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia-Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Drilling Fluids market by its concrete type, application, end-use and region.
Global Drilling Fluids Market, By Type
• Water Based Drilling Fluid
• Oil-Based Drilling Fluid
• Synthetic Based Drilling Fluid
Global Drilling Fluids Market, By Application
• Onshore
• Offshore

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Info:
Name: Akash Anand
Email: Send Email
Organization: Market Research Future
Address: Magarpatta Road, Hadapsar,
Phone: 6468459349

Source URL: https://marketersmedia.com/drilling-fluids-market-is-expected-to-generate-huge-profits-by-2023-vendors-schlumberger-limited-halliburton-inc-baker-hughes-incorporated/249541

For more information, please visit https://www.marketresearchfuture.com

Source: MarketersMedia

Release ID: 249541

More News From reporterpass.com

PBS suspends distribution of Smiley show for misconduct

Dec 14, 2017

LOS ANGELES — PBS said Wednesday it has indefinitely suspended distribution of Tavis Smiley's talk show after an independent investigation uncovered "multiple, credible allegations" of misconduct by its host. PBS said it had engaged an outside law firm to investigate "troubling allegations" against the host, it said in a statement. "This investigation included interviews with witnesses as well as with Mr. Smiley," the statement said. "The inquiry uncovered multiple, credible allegations of conduct that is inconsistent with the values and standards of PBS, and the totality of this information led to today's decision." A representative for PBS declined to specify...

Hayek says rebuffing Weinstein led to nightmare on 'Frida'

Dec 14, 2017

NEW YORK — In one of the most vivid accounts yet of Harvey Weinstein's alleged abuse and harassment, Salma Hayek says the disgraced movie mogul turned the making of her 2002 passion project, the Frida Kahlo biopic "Frida," into a nightmare after the actress refused Weinstein's relentless advances. "For years, he was my monster," Hayek wrote in an op-ed published Wednesday by The New York Times. Her refusals — of massages, showers and sex — enraged him, she wrote. "I don't think he hated anything more than the word 'no,'" wrote Hayek. Hayek, who regularly starred in films released by...

Firefighters wary despite gains against California fire

Dec 14, 2017

LOS ANGELES — Southern California firefighters contained part of the fifth-largest fire in the state's history but warned coastal communities Wednesday that they're still at risk if unpredictable winds whip up again and fan the flames. The National Weather Service extended warnings through Friday of extreme fire danger conditions throughout much of Southern California due to lack of moisture along with a possible increase in wind gust speeds at the end of the week. Firefighters made some progress Wednesday on corralling the so-called Thomas Fire, which has spread into national forest land northwest of Los Angeles. However, they warned that...

Former 'Apprentice' contestant Omarosa leaving White House

Dec 14, 2017

WASHINGTON — True to form, former "Apprentice" star Omarosa is ending her time at the White House with a dose of drama. Omarosa Manigault Newman, one of President Donald Trump's most prominent African-American supporters, was escorted off the White House grounds after resigning her post as a presidential adviser, according to two White House officials who spoke on condition of anonymity. White House press secretary Sarah Huckabee Sanders said Wednesday that Manigault Newman's resignation is effective Jan. 20, one year after Trump's inauguration. "We wish her the best in future endeavors and are grateful for her service," Sanders said. The...

Fox News host Jeanine Pirro sued for defamation

Dec 14, 2017

NEW YORK — A civil rights activist is suing Fox News host Jeanine Pirro, claiming she defamed him while discussing a lawsuit against the Black Lives Matter movement that was later dismissed. The lawsuit states that DeRay McKesson was falsely arrested in 2016 while attending a protest in Baton Rouge, Louisiana, in which a police officer was struck in the face with a rock and seriously injured. The officer sued the Black Lives Matter movement and McKesson for his injuries. After the officer's lawsuit was dismissed, Pirro "made a series of outrageously false and defamatory statements about Mr. McKesson, including...

Reporter Pass is the only access you need to get into Hollywood. No matter it’s the red carpet event or backstage access, we’ve got you covered.

Contact us: sales@reppass.com

Award ShowsCelebrityPaparazziRoyaltyMoviesMusicTelevision Programs Press