Drilling Fluids Industry In-depth Survey and 2025 Future Outlook

Increasing upstream spending to sustain oil production targets is anticipated to drive oil & gas industry drilling activities over the forecast period. Technological advancements to modify the fluid rheology for efficient extraction in different formations have created lucrative avenues for industry participants.

The Global Drilling Fluids Market is expected to reach USD 10.01 billion by 2025, according to a new report by Grand View Research, Inc.

Increased maintenance costs and environmental risks associated with offshore locations, have urged companies to deploy drill mud for cost-efficient E&P activities. Growing demand for increasing production rates, efficiency and mitigating gas related capital expenditures is expected to drive drilling fluids demand in offshore activity, over the long term. Growing number of ongoing projects in the Middle East and Africa including, Maydan Mahzam and Bul Hanine fields are projected to drive product demand over the next nine years.

WBF emerged as a leading drilling fluid product segment covering 50.4% market revenue share in 2016. The OBF segment is expected to lose share over the forecast period and account for 26% of the total industry value by 2025.

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North America was the leading regional segment accounting for over 25% in 2016 and is expected to witness a similar trend over the forecast period. Asia Pacific is anticipated to emerge as the fastest consumer at a CAGR of 4.6% from 2017 to 2025. Russia onshore drilling fluids industry in 2016 was valued at USD 627.5 million and is projected to grow at a CAGR of 2.8% from 207 to 2025

Top Players of Drilling Fluids Market:

Major players include Newpark Resources, Halliburton, Weatherford International, Baker Hughes, National Oilwell Varco and Schlumberger.

Market Segmentation of Drilling Fluids Market:

The Global Drilling Fluids Market segmented on the basis of Product, Application and Region.

By Product:

Oil based fluids
Water based fluids
Synthetic based fluids

By Application:

Onshore oil & gas
Offshore oil & gas

By Region:

North America
Europe
Asia Pacific
Middle East
Africa
Central & South America

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