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

The Latest: Trump calls Bob Dole 'a true American hero'

Jan 17, 2018

WASHINGTON — The Latest on former Sen. Bob Dole (all times local): 4:20 p.m. President Donald Trump is honoring former Senate Majority Leader Bob Dole, calling the longtime Kansas lawmaker "a true American hero." Trump is speaking under the Capitol dome at a ceremony to present the 94-year-old Dole with Congress' highest civilian honor, the Congressional Gold Medal. Trump is recounting Dole's service in World War II, his lengthy recovery from his wounds during the war and his service in Congress. The president says Dole "has never stopped fighting" for Kansas, military veterans and the disabled. He is pointing to...

Liberals press Dems to act on immigration, shutdown or no

Jan 17, 2018

NEW YORK — Shrugging off the prospect of a government shutdown, liberal activists are demanding that Democrats protect thousands of young immigrants from deportation, no matter what. The conflict comes to a head this week as the Republicans who control Congress scramble to get enough votes -- including some from Senate Democrats -- to avoid the partial shutdown. On Capitol Hill, Democrats are being urged to let the shutdown happen unless Republicans and President Donald Trump agree to restore a program that protects from deportation some 700,000 people who were brought to the U.S. as children and are now here...

Rodman checks into rehab after DUI arrest

Jan 17, 2018

The agent for former NBA star Dennis Rodman says the Hall of Famer has checked into an alcohol rehabilitation center after a weekend DUI arrest. Rodman's agent, Darren Prince, tells The Associated Press that Rodman checked into Turning Point Rehabilitation Center in Paterson, New Jersey, on Wednesday to deal with his longtime struggle with alcoholism. Rodman was arrested in Southern California late Saturday on suspicion of DUI after being pulled over for a traffic violation. Newport Beach police say Rodman failed field sobriety and breath tests. This is Rodman's second time in rehab. He spent three weeks at Turning Point...

Katie Couric returning for Winter Olympics opening ceremony

Jan 17, 2018

NEW YORK — NBC is bringing back Katie Couric to co-host the opening ceremony of the Winter Olympics next month in South Korea, and will live-stream the pomp for the first time. Couric will work with Mike Tirico, who is replacing Bob Costas as prime-time host of the games, for the Feb. 9 ceremony. The torch-lighting and parade of nations that begins every Olympics took on greater resonance Wednesday with the announcement that the rival Koreas will form their first unified Olympic team and march together in the ceremony. "It's going to be really emotional for the athletes, for the...

Entire operation of federal consumer regulator under review

Jan 17, 2018

NEW YORK — The Trump-appointed acting director of the Consumer Financial Protection Bureau said Wednesday that he is launching a review of all the federal consumer watchdog agency's policies and priorities. It's the second major step taken this week by Mick Mulvaney, who took over as acting director in late November, to reshape the bureau. On Tuesday, the bureau announced a review of its recently enacted rules for payday lending. The review is the clearest sign yet that the future direction and role of the CFPB, which has existed for less than a decade, will be dramatically different than it...

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