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Global Onshore Drilling Fluids Market - Industry Trends and Forecast to 2029

Chemical and Materials

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Global Onshore Drilling Fluids Market - Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • May 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Onshore Drilling Fluids Market - Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 4.07 USD Billion
Diagram Market Size (Forecast Year) USD 6.01 USD Billion
Diagram CAGR %

Major Markets Players

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Global Onshore Drilling Fluids Market, By Product Type (Water-Based Fluids, Oil-Based Fluids, Synthetic-Based Fluids), Well Type (HPHT, Conventional) – Industry Trends and Forecast to 2029

Onshore Drilling Fluids Market

Market Analysis and Size

In the recent years, numerous onshore drilling fluids or muds are being utilized in drilling operations in various applications, such as oil and gas industry. The rise in of economies on offshore oil drilling is being considered the evolution of drilling fluids of various chemistries.

Global Onshore Drilling Fluids Market was valued at USD 4.07 billion in 2021 and is expected to reach USD 6.01 billion by 2029, registering a CAGR of 5.00% during the forecast period of 2022-2029. Water-Based Fluids accounts for the largest product type segment in the respective market owing to the concern towards toxicity and biodegradation. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

Drilling fluids refer to the type of fluids that are widely used in exploration of oil. These fluids fing their application in the drilling of well to control the pressure, removing cuttings from the wellbore, sealing permeable formations encountered while drilling, and maintaining wellbore stability.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Water-Based Fluids, Oil-Based Fluids, Synthetic-Based Fluids), Well Type (HPHT, Conventional)

Countries Covered

U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, and Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific, Brazil, Argentina, and Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, and Rest of Middle East and Africa (MEA).

Market Players Covered

Baker Hughes Company (US), Halliburton (US), National Oilwell Varco (US), Newpark Resources Inc. (US), TETRA Technologies, Inc. (US), Scomi Group Bhd (Malaysia), CES Energy Solutions Corp. (Canada), GEO Drilling Fluids, Inc. (US), Weatherford (US), Gumpro Drilling Fluids Pvt. Ltd. (India), Akzo Nobel N.V. (Netherlands), Catalyst LLC. (US), Flotek Industries, Inc. (US), China Oilfield Services Limited (China), and Mazrui International L.L.C. (UAE), among others

Market Opportunities

  • Advancements In The Manufacturing And The Product
  • Increased Demand For Advanced Drilling Oil Chemicals
  • High focus on deep and ultra-deep-water drilling

Onshore Drilling Fluids Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • High Usage in Oil and Gas Sector

The increased use of the onshore drilling fluids in the chemical, and oil and gas industries acts as one of the major factors driving the growth of onshore drilling fluids market. The safe handling of such chemicals is mandatory in these industries.

  • Enhancement of Industrial Equipment

The rise in the industrial equipment performance and lubricant life with continuous filtration of lubricants accelerate the market growth. Also, the continuous use of these is considered essential in the drilling of well.

  • Growth in Energy Industry

The rise in requirement of these fluids in the energy industry further influence the market. Also, surge in demand for crude oil and gas by various industrial sectors, such as transportation and power plants assist in the expansion of the market.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the onshore drilling fluids market.

Opportunities

Furthermore, increased demand for advanced drilling oil chemicals extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, high focus on deep and ultra-deep-water drilling will further expand the market.

Restraints/Challenges

On the other hand, environmental impact of drilling fluids and strict environmental regulations are expected to obstruct market growth. Also, rise in cost of deep water and ultra-deep water drilling is projected to challenge the onshore drilling fluids market in the forecast period of 2022-2029.

This onshore drilling fluids market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on onshore drilling fluids market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Onshore Drilling Fluids Market

COVID-19 had a negative impact on various industries including onshore drilling fluids market. Both public and government sectors suffered greatly due to the facing financial crises during the outbreak of COVID-19. Businesses were shut down in numerous countries because of the social distancing guidelines and the imposition of lockdown. The onshore drilling fluids industry faced huge problems due to the shortage of laborers declining the low production. A decline in the demand onshore drilling fluids was witnessed owing to the limited production and shut down of industries, such as oil and gas sectors, , building and construction, and chemical, among others. However, the onshore drilling fluids market is expected to witness growth in demand after the post-covid-19 situation.

Global Onshore Drilling Fluids Market Scope and Market Size

The onshore drilling fluids market is segmented on the basis of product type and well type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Water-Based Fluids
    • Ikalinity and Ph Control Materials
    • Viscosifiers
    • Shale Stabilizers
    • Fluids Loss Control Additives
    • Surfactants
    • Thinners
    • Defoamers
    • Others
  • Oil-Based Fluids
    • Viscosifiers
    • Dispersants
    • Fluids Loss Control Additives
    • Protective Chemicals
    • Wetting Agents
    • Thinners
    • Lost Circulation Materials
    • Others
  • Synthetic-Based Fluids
    •  Rheology Modifiers
    • Fluids Loss Control Additives
    • Viscosifiers
    • Thinners
    •  Surfactants
    • Wetting Agents
  • Others

Well Type

  • HPHT
  • Conventional

Onshore Drilling Fluids Market Regional Analysis/Insights

The onshore drilling fluids market is analyzed and market size insights and trends are provided by country, product type and well type as referenced above.

The countries covered in the onshore drilling fluids market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the onshore drilling fluids market because of the increase in oil and gas production along with significant oil field development within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the exploration of deep waters and tight oil reserves in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Onshore Drilling Fluids Market

The onshore drilling fluids market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to onshore drilling fluids market.

Some of the major players operating in the onshore drilling fluids market are

  • Baker Hughes Company (US)
  • Halliburton (US)
  • National Oilwell Varco (US)
  • Newpark Resources Inc. (US)
  • TETRA Technologies, Inc. (US)
  • Scomi Group Bhd (Malaysia)
  • CES Energy Solutions Corp. (Canada)
  • GEO Drilling Fluids, Inc. (US)
  • Weatherford (US)
  • Gumpro Drilling Fluids Pvt. Ltd. (India)
  • Akzo Nobel N.V. (Netherlands)
  • Catalyst LLC. (US)
  • Flotek Industries, Inc. (US)
  • China Oilfield Services Limited (China)
  • Mazrui International L.L.C. (UAE)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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The Onshore Drilling Fluids Market is expected USD 6.01 billion by 2029.
Onshore Drilling Fluids Market is expected to witness CAGR of 5.00%the forecast period of 2022-2029
On the basis of product, the Onshore Drilling Fluids Market is segmented into Water-Based Fluids, Oil-Based Fluids, Synthetic-Based Fluids.
The major players operating in the Onshore Drilling Fluids Market are Baker Hughes Company (US), Halliburton (US), National Oilwell Varco (US), Newpark Resources Inc. (US), TETRA Technologies, Inc. (US), Scomi Group Bhd (Malaysia), CES Energy Solutions Corp. (Canada), GEO Drilling Fluids, Inc. (US), Weatherford (US), Gumpro Drilling Fluids Pvt. Ltd. (India), Akzo Nobel N.V. (Netherlands), Catalyst LLC. (US), Flotek Industries, Inc. (US), China Oilfield Services Limited (China), and Mazrui International L.L.C. (UAE), among others.
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