Schlumberger Limited (US) and Halliburton (US) are the Leading Players in the Fluid Loss Additives Market
The fluid loss additives market size is projected to reach USD 376 million by 2024 from USD 315 million in 2019, at a CAGR of 3.6% between 2019 and 2024. Rising crude oil production, coupled with the increase in shale gas exploration, is expected to support the growth of the fluid loss additives market. However, the environmental impact of the fluid loss additives is restraining the growth of the market. On the other hand, deepwater and ultra-deepwater drilling have created opportunities for manufacturers.
Schlumberger Limited (US), Halliburton (US), Newpark Resources Inc. (US), BASF SE (Germany), Clariant (Switzerland), and Solvay (Belgium), are the major players in this market.
Schlumberger Limited (US) is the leading producer of fluid loss additives. Schlumberger provides innovative and diverse fluid loss additives that meet the needs of every application. The company produces polysaccharide derivative (PAC Liquid), PAC, starch, and CMC mainly for the cementing applications in the oil & gas industry. In 2017, the company invested USD 800 million in research and engineering for oilfield activities, which is expected to gain additional market share in the fluid loss additives market.
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Halliburton (US) is another leading player in this market, focusing on R&D to produce fluid loss additives. The reliable supply chain and distribution network of the company helps it to have the edge over its competitors. The company’s well-established distribution network and brand value are factors fueling its growth. It mainly focuses on achieving a competitive position in the fluid loss additives market, globally.
Newpark Resources Inc. (US) is also a leading producer that offers a diverse product portfolio addressing the needs of fluid loss additive consumers across all the market segments. The company has a strong distribution network that serves customers across the globe. The company also offers various eco-friendly products mainly to minimize the environmental impact.
Related Reports:
Fluid Loss Additives Market by Type (Synthetically Modified Natural (PAC, CMC), Synthetic (Acrylic Sulphonated Polymers), Natural (Starch, Lignin, Bentonite)), Application (Drilling Fluid, Cement Slurry) - Global Forecast to 2024
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