The global Drilling Fluids market is expected to grow from US$ 13 Billion in 2027, at CAGR of about 4.45% during the forecast period.

Drilling fluids play an important role in oil and gas exploration activities. It is the mixture of water, clay, & several chemicals, oil. It is also called drilling mud. Though drilling, it makes numerous functions like cooling the drill bit and lubricate its teeth, it carries the drill cutting to surface and decreases the drill pipe stuck problem. Mud maintains hydrostatic compression to stop formation fluids from entering into the wellbore.

Increasing investment in oil exploration activities drives the development of the market. But, high capital cost for drilling may hamper the development of the market. Newly, offshore oil and gas examination activities in the Gulf of Mexico region and other regions throughout the world are progressively moving towards deepwater ocean regions. The deepwater oil arena development usually occurs in the form of high-risk, and long-duration drilling scheme, that make them highly expensive.

The global Drilling Fluids market is segregated on the basis of Application as Offshore and Onshore. Based on Product the global Drilling Fluids market is segmented in Synthetic-based fluids, Water-based fluids, Oil-based fluids, and Others.

The global Drilling Fluids market report provides geographic analysis covering regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Drilling Fluids market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Rivalry

International Drilling Fluids and Engineering Services, Canadian Energy Services & Technology Corporation, Petrochem Performance Chemicals Ltd. LLC, TETRA Technologies, Inc., Anchor Drilling Fluids USA, LLC, Newpark Resources, Inc, Schlumberger Limited, Weatherford International, Halliburton, Inc, Baker Hughes, Inc, and others are among the major players in the global Drilling Fluids market. The companies are involved in several growth and expansion strategies to gain a competitive advantage. Industry participants also follow value chain integration with business operations in multiple stages of the value chain.

The Drilling Fluids Market has been segmented as below:

Drilling Fluids Market, By Application

• Offshore
• Onshore

Drilling Fluids Market, By Product

• Synthetic-based fluids
• Water-based fluids
• Oil-based fluids
• Others

Drilling Fluids Market, By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

Drilling Fluids Market, By Company

• International Drilling Fluids and Engineering Services
• Canadian Energy Services & Technology Corporation
• Petrochem Performance Chemicals Ltd. LLC
• TETRA Technologies, Inc.
• Anchor Drilling Fluids USA, LLC
• Newpark Resources, Inc
• Schlumberger Limited
• Weatherford International
• Halliburton, Inc
• Baker Hughes, Inc

The report covers:

• Global Drilling Fluids market sizes from 2020 to 2027, along with CAGR for 2022-2027
• Market size comparison for 2019 vs 2027, with actual data for 2019, estimates for 2020 and forecast from 2022 to 2027
• Global Drilling Fluids market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Drilling Fluids market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

Report Scope:

The global Drilling Fluids market report scope includes detailed study covering underlying factors influencing the industry trends.

The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies.

The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Drilling Fluids market share. Major industry players with significant revenue share include International Drilling Fluids and Engineering Services, Canadian Energy Services & Technology Corporation, Petrochem Performance Chemicals Ltd. LLC, TETRA Technologies, Inc., Anchor Drilling Fluids USA, LLC, Newpark Resources, Inc, Schlumberger Limited, Weatherford International, Halliburton, Inc, Baker Hughes, Inc, and others.

Reasons to Buy this Report:

• Gain detailed insights on the Drilling Fluids industry trends
• Find complete analysis on the market status
• Identify the Drilling Fluids market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Some of the recent developments in Drilling Fluids Market are as follows:

Baker Hughes, Inc

• 08-2020: Baker Hughes has declared that the Baker Hughes international rig count for July 2020 was 743 down 38 from the 781 counted in June 2020, and down 419 from the 1,162 counted in July 2019.
• 12-2019: Baker Hughes has declared a significant new advancement supporting its commitment to attain net-zero carbon equivalent emissions by 2050 by entering into an agreement to purchase 100 percent of its Texas electricity from renewable sources..

Halliburton, Inc

• 01-2017: Halliburton has declared the release of Cruzer depth-of-cut rolling element, an advanced drill bit technology designed to rise tool face control without reducing drilling efficiency.

Customization

Customized report as per the requirement can be offered with appropriate recommendations

Below are our new reports
Construction Equipment Market

Industrial Cleaning Market

Wood Plastic Composite Market

Manufacturing Execution System Market

Building Information Modeling Market