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Drilling Fluids Market - Market Leaders
The growth of the drilling and completion fluids market is directly proportional to the ongoing drilling activities around the world. On the basis of various factors such as geological conditions, economic viabilities, etc., different types of drilling and completion fluids are used to assist drilling and completion activities.
The nature of drilling and completion fluids is highly standardized and the market is cost sensitive. This leads to a large pool of small players at the local level competing with large multinational companies.
In addition, the competition is leading to many R&D activities from top manufacturers in order to create product differentiation as a part of their brand strategies. These developments are contributing towards the improvement in the development of more environment friendly drilling and completion fluids technology. However, smaller players have been able to compete and maintain their presence at the domestic level by providing generic and standard chemicals at cheap cost.
Companies such as M-I SWACO (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Newpark Drilling Fluids (U.S.), and Tetra Technologies Inc (U.S.) have been the most active companies during January 2011 to July 2013. Most of these market players are present in North America and have been actively participating in the competitive developments.
The global drilling fluids market and completion fluids market is dominated by few players. Almost all these top companies have global presence and enjoy majority of the market share. The remaining minority share is enjoyed by rest of the companies present locally across the globe and competing in their respective markets.
The leading companies of the drilling and completion fluids market focused on mergers and acquisitions as the capital expenditure is very high in the oil and gas industry. These leading companies are based in the Americas and are now focusing on the African and Asia-Pacific markets for expansions. Hence, investment in these regions is carried out by acquiring any local company which provides access to the local business.
Drilling Fluids (Drilling Mud) Market & Completion Fluids Market: By Types (Water-Based Systems, Oil-Based Systems, Synthetic-Based Systems, Other Based Systems), Application Areas (Onshore and Offshore) & Geography - Forecast to 2018
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