HOME Top Market Reports Drilling and Completion Fluids Market by Application (Onshore and Offshore), Fluid System (Water-Based System, Oil-Based System, Synthetic-Based System), Well Type (Conventional and HPHT), and Region - Global Forecast to 2023

Drilling and Completion Fluids Market by Application (Onshore and Offshore), Fluid System (Water-Based System, Oil-Based System, Synthetic-Based System), Well Type (Conventional and HPHT), and Region - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: May 2018
Report Code: EP 2990

 

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The global drilling & completion fluids market was valued at USD 8.92 Billion in 2017 and is projected to reach USD 12.76 Billion by 2023, at a CAGR of 5.82% during the forecast period.

The years considered for the study are as follows:

  • Base Year: 2017
  • Estimated Year: 2018
  • Projected Year: 2023
  • Forecast Period: 2018–2023

The base year considered for company profiles is 2017. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, segment, and forecast the drilling and completion fluids market by fluid systems, well type, application, and region
  • To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the drilling and completion fluids market with respect to individual growth trends, future expansions, and contribution to the market
  • To forecast the expansion of the drilling and completion fluids market in the main regions (North America, Europe, the Middle East, Africa, Asia Pacific, and South America)
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To analyze competitive developments such as contracts & agreements, mergers & acquisitions, new product developments, and research and development (R&D) in the drilling and completion fluids market

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on drilling & completion fluids generation technologies, and other related rental markets; newsletters and databases such as Hoover’s, Bloomberg, Businessweek, and Factiva, among others, to identify and collect information useful for a technical, market-oriented, and commercial study of the global drilling & completion fluids market. The primary sources include several industry experts from the core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain. The research methodology has been explained below.

  • Study of annual revenues and market developments of the major players in the drilling & completion fluids market
  • Assessment of future trends and growth of end-users
  • Assessment of the drilling & completion fluids market with respect to the solutions used for different applications at various drilling & completion fluids generation technologies

After arriving at the overall market size, the total market was split into several segments and sub-segments. The figure given below illustrates the breakdown of primary interviews conducted during the research study based on company type, designation, and region.

Drilling and Completion Fluids Market

To know about the assumptions considered for the study, download the pdf brochure

Major players operating in the market are BHGE (US), Halliburton (US), Schlumberger (US), Newpark Resources (US), and Tetra Technologies (US).

Target Audience:

  • Oilfield service companies
  • Exploration and production companies
  • Drilling tools and equipment manufacturers
  • Oil & gas field operators
  • National Oil Companies (NOCs)
  • Government and research organizations
  • Consulting companies of the energy and power sector
  • Power and energy associations
  • Investment banks

Scope of the Report:

  • By Application
    • Onshore
    • Offshore
  • By Fluid System
    • Water-based system
    • Oil-based system
    • Synthetic-based system
    • Others
  • By Well Type
    • Conventional
    • HPHT
  • By Region
    • Asia Pacific
    • Europe
    • North America
    • South America
    • Middle East
    • Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Company Information

Detailed analyses and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in the Drilling and Completion Fluids Market, 2018–2023
    4.2 Drilling and Completion Fluids Market, By Region, 2018-2023
    4.3 Drilling and Completion Fluids Market, By Application, 2018 & 2023
    4.4 Drilling and Completion Fluids Market, By Fluid System, 2018 & 2023
    4.5 Drilling and Completion Fluids Market, By Well Type, 2018 & 2023

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Surge in Drilling Activities
                    5.2.1.2 Increase in Shale Gas Exploration
           5.2.2 Restraints
                    5.2.2.1 Environmental Impact of Drilling Fluids
                    5.2.2.2 Stringent Environmental Regulations
           5.2.3 Opportunities
                    5.2.3.1 Increasing Focus on Deep and Ultra-Deep-Water Drilling
                    5.2.3.2 Focus on Developing Advanced Drilling Fluid Chemicals
           5.2.4 Challenges
                    5.2.4.1 Rise in Cost of Deepwater and Ultra-Deepwater Drilling

6 Drilling & Completion Fluids Market, By Application (Page No. - 40)
    6.1 Introduction
    6.2 Onshore
    6.3 Offshore

7 Drilling & Completion Fluids Market, By Fluid System (Page No. - 44)
    7.1 Introduction
    7.2 Water-Based
    7.3 Oil-Based
    7.4 Synthetic-Based
    7.5 Others

8 Drilling & Completion Fluids Market, By Well Type (Page No. - 49)
    8.1 Introduction
    8.2 Hpht Wells
    8.3 Conventional Wells

9 Drilling & Completion Fluids Market, By Region (Page No. - 53)
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Norway
           9.3.2 Russia
           9.3.3 UK
           9.3.4 Rest of Europe
    9.4 Middle East
           9.4.1 Saudi Arabia
           9.4.2 UAE
           9.4.3 Qatar
           9.4.4 Oman
           9.4.5 Kuwait
           9.4.6 Rest of Middle East
    9.5 South America
           9.5.1 Brazil
           9.5.2 Argentina
           9.5.3 Venezuela
           9.5.4 Rest of South America
    9.6 Asia Pacific
           9.6.1 China
           9.6.2 Thailand
           9.6.3 Indonesia
           9.6.4 India
           9.6.5 Australia
           9.6.6 Rest of Asia Pacific
    9.7 Africa
           9.7.1 Angola
           9.7.2 Egypt
           9.7.3 Algeria
           9.7.4 Nigeria
           9.7.5 Libya
           9.7.6 Rest of Africa

10 Competitive Landscape (Page No. - 90)
     10.1 Overview
     10.2 Market Ranking of Players and Industry Concentration, 2017
     10.3 Competitive Scenario
             10.3.1 Contracts & Agreements
             10.3.2 New Product Launches
             10.3.3 Mergers & Acquisitions
             10.3.4 New Product Launches

11 Company Profiles (Page No. - 95)
     11.1 Competitive Benchmarking
(Business Overview, Products Offered, Recent Developments & MnM View)*
     11.2 Bhge
     11.3 Halliburton
     11.4 Schlumberger
     11.5 Newpark Resources
     11.6 Tetra Technologies
     11.7 CES
     11.8 National Oilwell Varco
     11.9 Secure Energy Services
     11.10 Weatherford International
     11.11 Q’max Solutions
     11.12 Global Drilling and Chemicals
     11.13 Sagemines
     11.14 Scomi

*Details on Business Overview, Products Offered, Recent Developments & MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 128)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports:
     12.7 Author Details


List of Tables (79 Tables)

Table 1 Drilling and Completion Fluids Market Snapshot
Table 2 Total Wells Drilled
Table 3 International Recoverable Shale Gas Reserves, 2016
Table 4 Governmental Drilling & Completion Fluids Discharge Regulations, By Countries
Table 5 Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 6 Onshore: Drilling and Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 7 Offshore: Drilling & Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 8 Drilling & Completion Fluids Market Size, By Fluid System, 2016–2023 (USD Million)
Table 9 Water-Based: Drilling & Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 10 Oil-Based: Drilling & Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 11 Synthetic-Based: Drilling & Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 12 Others: Drilling and Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 13 Drilling & Completion Fluids Market Size, By Well Type, 2016–2023 (USD Million)
Table 14 Hpht: Drilling & Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 15 Conventional: Drilling & Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 16 Global Drilling & Completion Fluids Market Size, By Region, 2016–2023 (USD Million)
Table 17 North America: Drilling and Completion Fluids Market, By Application, 2016–2023 (USD Million)
Table 18 North America: Drilling & Completion Fluids Market, By Fluid Type, 2016–2023 (USD Million)
Table 19 North America: Drilling & Completion Fluids Market, By Well Type, 2016–2023 (USD Million)
Table 20 North America: Drilling & Completion Fluids Market, By Country, 2016–2023 (Million Gallons)
Table 21 North America: Drilling & Completion Fluids Market, By Country, 2016–2023 (USD Million)
Table 22 US: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 23 Canada: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 24 Mexico: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 25 Europe: Drilling and Completion Fluids Market, By Application, 2016–2023 (USD Million)
Table 26 Europe: Drilling & Completion Fluids Market, By Fluid Type, 2016–2023 (USD Million)
Table 27 Europe: Drilling & Completion Fluids Market, By Well Type, 2016–2023 (USD Million)
Table 28 Europe: Drilling & Completion Fluids Market, By Country, 2016–2023 (Million Gallons)
Table 29 Europe: Drilling & Completion Fluids Market, By Country, 2016–2023 (USD Million)
Table 30 Norway: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 31 Russia: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 32 UK: Drilling & Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 33 Rest of Europe: Drilling & Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 34 Middle East: Drilling and Completion Fluids Market, By Application, 2016–2023 (USD Million)
Table 35 Middle East: Drilling & Completion Fluids Market, By Fluid Type, 2016–2023 (USD Million)
Table 36 Middle East: Drilling & Completion Fluids Market, By Well Type, 2016–2023 (USD Million)
Table 37 Middle East: Drilling & Completion Fluids Market, By Country, 2016–2023 (Million Gallons)
Table 38 Middle East: Drilling & Completion Fluids Market, By Country, 2016–2023 (USD Million)
Table 39 Saudi Arabia: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 40 UAE: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 41 Qatar: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 42 Oman: Drilling & Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 43 Kuwait: Drilling & Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 44 Rest of Middle East: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 45 South America: Drilling and Completion Fluids Market, By Application, 2016–2023 (USD Million)
Table 46 South America: Drilling and Completion Fluids Market, By Fluid Type, 2016–2023 (USD Million)
Table 47 South America: Drilling and Completion Fluids Market, By Well Type, 2016–2023 (USD Million)
Table 48 South America: Drilling &  Completion Fluids Market, By Country, 2016–2023 (Million Gallons)
Table 49 South America: Drilling and Completion Fluids Market, By Country, 2016–2023 (USD Million)
Table 50 Brazil: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 51 Argentina: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 52 Venezuela: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 53 Rest of South America: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 54 Asia Pacific: Drilling and Completion Fluids Market, By Application, 2016–2023 (USD Million)
Table 55 Asia Pacific: Drilling and Completion Fluids Market, By Fluid Type, 2016–2023 (USD Million)
Table 56 Asia Pacific: Drilling & Completion Fluids Market, By Well Type, 2016–2023 (USD Million)
Table 57 Asia Pacific: Drilling & Completion Fluids Market, By Country, 2016–2023 (Million Gallons)
Table 58 Asia Pacific: Drilling & Completion Fluids Market, By Country, 2016–2023 (USD Million)
Table 59 China: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 60 Thailand: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 61 Indonesia: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 62 India: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 63 Australia: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 64 Rest of Asia Pacific: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 65 Africa: Drilling and Completion Fluids Market, By Application, 2016–2023 (USD Million)
Table 66 Africa: Drilling and Completion Fluids Market, By Fluid System, 2016–2023 (USD Million)
Table 67 Africa: Drilling & Completion Fluids Market, By Well Type, 2016–2023 (USD Million)
Table 68 Africa: Drilling and Completion Fluids Market, By Country, 2016–2023 (Million Gallons)
Table 69 Africa: Drilling and Completion Fluids Market, By Country, 2016–2023 (USD Million)
Table 70 Angola: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 71 Egypt: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 72 Algeria: Drilling & Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 73 Nigeria: Drilling & Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 74 Libya: Drilling & Completion Fluids Market Size, By Application, 2016–2023 (USD Thousand)
Table 75 Rest of Africa: Drilling and Completion Fluids Market Size, By Application, 2016–2023 (USD Million)
Table 76 Contracts & Agreements, 2017
Table 77 New Product Launches, 2014–2017
Table 78 Mergers & Acquisitions, 2014–2017
Table 79 Partnerships, Collaborations, Alliances, & Joint Ventures, 2014–2017


List of Figures (36 Figures)

Figure 1 Market Segments
Figure 2 Regional Scope
Figure 3 Drilling & Completion Fluids Market: Research Design
Figure 4 Breakdown of Primaries: By Company Type, Designation, and Region
Figure 5 Bottom-Up Approach
Figure 6 Top-Down Approach
Figure 7 Data Triangulation Methodology
Figure 8 Assumptions of the Research Study
Figure 9 North America Dominated the Drilling and Completion Fluids Market in 2017
Figure 10 The Onshore Segment is Expected to Lead the Drilling and Completion Fluids Market, By Application, During the Forecast Period
Figure 11 Water-Based Fluid System Dominates the Market During the Forecast Period
Figure 12 Conventional Well Leads the Drilling & Completion Fluids Market During the Forecast Period
Figure 13 Increasing Drilling Activities are Expected to Drive the Drilling and Completion Fluids Market During the Forecast Period
Figure 14 North America and Asia Pacific are Expected to Be the Fastest Growing Markets for Drilling and Completion Fluids During the Forecast Period
Figure 15 The Onshore Application is Expected to Have the Largest Market Share During the Forecast Period
Figure 16 The Water-Based Fluid System is Expected to Lead the Drilling & Completion Fluids Market During the Forecast Period
Figure 17 The Conventional Well is Expected to Lead the Drilling & Completion Fluids Market During the Forecast Period
Figure 18 Market Dynamics: Drilling & Completion Fluids Market
Figure 19 Onshore Application Dominates the Drilling and Completion Fluids Market in 2017
Figure 20 Water-Based Fluid System is Estimated to Dominate the Drilling & Completion Fluids Market
Figure 21 The Conventional Well is Estimated to Dominate the Drilling & Completion Fluids Market in 2017
Figure 22 Regional Snapshot: Drilling & Completion Fluids Market, 2018–2023
Figure 23 North America: Drilling & Completion Fluids Market Snapshot
Figure 24 Europe: Drilling & Completion Fluids Market Snapshot
Figure 25 Key Developments in the Drilling and Completion Fluids Market, 2014–2017
Figure 26 Schlumberger Led the Market for Drilling and Completion Fluids in 2017
Figure 27 Bhge: Company Snapshot
Figure 28 Halliburton: Company Snapshot
Figure 29 Schlumberger: Company Snapshot
Figure 30 Newpark Resources Inc.: Company Snapshot
Figure 31 Tetra Technologies Inc.: Company Snapshot
Figure 32 CES Energy Solutions Corp.: Company Snapshot
Figure 33 National Oilwell Varco, Inc.: Company Snapshot
Figure 34 Secure Energy Services: Company Snapshot
Figure 35 Weatherford International: Company Snapshot
Figure 36 Scomi: Company Snapshot

The global drilling & completion fluids market is projected to reach a market size of USD 12.76 Billion in 2023 from an estimated USD 9.62 Billion in 2018, at a CAGR of 5.82% during the forecast period. This growth can be primarily attributed to the increase in drilling activities for onshore and offshore, and rise in shale gas exploration.

The report segments the drilling & completion fluids market, by application, into onshore and offshore. The onshore application segment is expected to have the largest market share by 2023. The onshore application is expected to dominate the market as the majority of global oil and gas reserves are present onshore. The number of wells drilled onshore is drastically large than wells drilled offshore in 2017.

The drilling & completion fluids market, by fluid type, is segmented into water-based, oil-based, synthetic-based, and others. Water-based fluid systems are suitable for onshore and offshore drilling activities. Also, water-based fluid systems are economical as compared to non-aqueous based fluids. The discharge policies for water-based fluids are also not very stringent as these have lesser toxic chemicals than other fluids.

The drilling & completion fluids market, by well type, is segmented into conventional and HPHT. The HPHT well is estimated to be the fastest growing market for drilling & completion fluids from 2018 to 2023. The advancements in technology have helped to overcome the challenges faced in drilling the HPHT well. Also, as most of the conventional wells are mature, there is increased need for drilling of HPHT wells to find new hydrocarbon reserves.

In this report, the drilling & completion fluids market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa.

Drilling and Completion Fluids Market

The market in North America is estimated to be the largest in the drilling & completion fluids market from 2018 to 2023. Factors such as an increase in drilling activities and rise in the exploration of shale gas reserves are driving the growth of drilling and completion fluids market in the region.

Stringent environmental regulations can act as a restraint for the drilling & completion fluids market. The leading players in the drilling & completion fluids market are BHGE (US), Halliburton (US), Schlumberger (US), Newpark Resources (US), and Tetra Technologies (US). Mergers and acquisitions was the most commonly adopted strategy by the top players.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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