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 digitalpressnetwork.com

Day care owner gets probation for trying to kill toddler

Jul 17, 2018

MINNEAPOLIS — A Minneapolis day care owner was sentenced Monday to 10 years of probation for trying to kill a toddler in her home by hanging him. Nataliia Karia, 43, received her punishment in Hennepin County court after pleading guilty to attempted murder and third-degree assault earlier. She also pleaded guilty to criminal vehicular operation for hitting a pedestrian, a bicyclist and another driver as she fled from her home in a minivan in November 2016. Karia also must follow court-ordered mental health treatment and will be on electronic home monitoring for at least two months, the Star Tribune reported....

Lava crashes through roof of Hawaii tour boat, injuring 23

Jul 17, 2018

HONOLULU — An explosion caused by lava oozing into the ocean sent molten rock crashing through the roof of a sightseeing boat off Hawaii's Big Island, injuring 23 people Monday, officials said. A woman in her 20s was in serious condition with a broken thigh bone, the Hawaii County Fire Department said. Three others were in stable condition at a hospital with unspecified injuries. The rest of the passengers suffered burns, scrapes and other superficial injuries. They were aboard a tour boat that takes visitors to see lava plunging into the ocean from a long-erupting volcano that has been vigorously...

US pledges $6 million in new aid for Venezuelan migrants

Jul 17, 2018

CUCUTA, Colombia — Standing in the middle of a busy border bridge filled with thousands of Venezuelans lugging babies and suitcases, Mark Green said one element stood out in contrast to every other migration crisis he has witnessed. "This is the first one I've been to which is happening in real time," said Green, chief of the U.S. Agency for International Development, noting that he usually visits countries with established refugee camps. "This is a real time catastrophe," he said. Green traveled to the Colombian border city of Cucuta where tens of thousands of Venezuelans enter each day in search...

San Francisco to consider tax on companies to help homeless

Jul 17, 2018

SAN FRANCISCO — San Francisco voters will decide in November whether to tax large businesses to pay for homeless and housing services, an issue that set off a battle in another West Coast city struggling with income inequality. The city elections department verified Monday that supporters had collected enough signatures to get the measure on the ballot. It would raise about $300 million a year — doubling what San Francisco spends on homelessness — for more shelter beds and housing for people who are homeless or at risk of becoming so. The money would come from an average half-percent tax...

New Mexico lawmakers weigh immigration detention oversight

Jul 17, 2018

SANTA FE, N.M. — Several migrants told New Mexico lawmakers Monday that they were denied medication and adequate treatment while detained inside two different federal immigration facilities in the state. At a legislative hearing in Santa Fe, a man originally from Mexico described being denied care while he was held at Otero County Processing Center. Meanwhile, Joselin Mendez, of Nicaragua, blamed the death of Roxsana Hernandez, a Honduran transgender woman who died in the custody of the U.S. Immigration and Customs Enforcement, on the lack of sufficient medical treatment. Like Hernandez, Mendez also had been held in Cibola County's transgender...

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH