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 Press Releases

Racist tropes in Ramadan TV satires anger black Arabs

Jun 23, 2018

DUBAI, United Arab Emirates — In an attempt to capitalize on what's become a ratings bonanza for Arabic satellite channels during the Muslim holy month of Ramadan, two comedies struck the wrong chord with audiences when their lead actors appeared in blackface, a form of makeup that darkens the skin to represent a caricature of a black person. Criticism was swift on social media, but failed to trigger a deeper discussion on racism in the Middle East. The shows — one produced in Egypt and the other in Kuwait — also poked fun at Sudanese culture, making a mockery of...

Netflix's top spokesman fired over use of racial term

Jun 23, 2018

SAN FRANCISCO — Netflix CEO Reed Hastings says he fired the company's top spokesman over use of the N-word. The spokesman, Jonathan Friedland, confirmed in tweets that he was leaving the company, saying he was insensitive in speaking with his team about words that offend in comedy. In a memo to employees, published by Variety and The Hollywood Reporter and confirmed by Netflix, Hastings says Friedland used the word twice — first in a meeting of public relations staff several months ago about sensitive words. Hastings wrote that several people told Friedland how inappropriate and hurtful his use of the...

Rookie Bieber tames Tigers in 10-0 win by Indians

Jun 23, 2018

CLEVELAND — Shane Bieber has made believers out of the Cleveland Indians. In return, they plan on making him a fan of the Grammy-winning singer with his surname. The rookie right-hander walked onto the field with "Baby" by Justin Bieber blaring on the sound system, and then struck out nine in a career-high seven innings as Cleveland rolled to a 10-0 win over the Detroit Tigers on Friday night. Bieber (2-0) allowed four hits and walked one in his third major league start. He jokingly dedicated the performance to shortstop Francisco Lindor, who sang along with the pregame music selected...

Cohen's photo with Tom Arnold fuels Trump tape speculation

Jun 23, 2018

LOS ANGELES — President Donald Trump's former longtime personal attorney Michael Cohen retweeted a photo of himself with comedian Tom Arnold, who is working on a TV show to hunt down recordings of the president, fueling speculation Friday that Cohen has secret tapes of Trump and is willing to share them. Last month, Vice Media announced that Arnold would be featured in a new show called "The Hunt for the Trump Tapes" and would investigate rumored recordings of the president. Arnold told NBC News on Friday that he met with Cohen at the Lowes Regency Hotel in Manhattan and they...

Suarez's 2-run homer rallies Reds to 6-3 win over Cubs

Jun 23, 2018

CINCINNATI — Whenever the Cubs come to town, their fans fill the stands at Great American Ball Park and their offense usually carries the day. Not so for the last two. Eugenio Suarez hit a go-ahead homer off Jose Quintana in the fifth inning, and the Cincinnati Reds held on for their fifth straight victory Friday night, 6-3 over the Cubs . The Reds have won the first two games in the four-game set, a recent rarity in the rivalry. It's only the second time in the last two years that they've won back-to-back games in a series against Chicago....

Broaden News

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 Releases