Drilling Fluids Market Size, Share & Trends Report

Drilling Fluids Market Size, Share & Trends Analysis Report By Product (Oil-based, Water-based), By Application (Onshore, Offshore), By Region (North America, Asia Pacific), And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-116-0
  • Number of Pages: 125
  • Format: Electronic (PDF)

Market Segmentation

  • Drilling Fluids Product Outlook (Revenue, USD Million; 2018 - 2030)
    • Oil-based
    • Synthetic-based
    • Water-based
    • Others
  • Drilling Fluids Application Outlook (Revenue, USD Million; 2018 - 2030)
    • Onshore
    • Offshore
  • Drilling Fluids Regional Outlook (Volume, Kilotons; Revenue; USD Million, 2018 - 2030)
    • North America
      • North America Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • North America Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • U.S. Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • U.S. Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Canada Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Canada Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Mexico Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Mexico Drilling Fluids Market, By Application
        • Onshore
        • Offshore
    • Europe
      • Europe Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Europe Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • U.K. Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • U.K. Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Norway Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Norway Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Russia Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Russia Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Azerbaijan Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Azerbaijan Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Kazakhstan Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Kazakhstan Drilling Fluids Market, By Application
        • Onshore
        • Offshore
    • Asia Pacific
      • Asia Pacific Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Asia Pacific Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • China Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • China Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • India Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • India Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Pakistan Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Pakistan Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Myanmar Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Myanmar Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Thailand Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Thailand Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Indonesia Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Indonesia Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Malaysia Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Malaysia Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Singapore Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Singapore Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Australia Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Australia Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Vietnam Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Vietnam Drilling Fluids Market, By Application
        • Onshore
        • Offshore
    • Central & South America
      • Central & South America Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Central & South America Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Brazil Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Brazil Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Argentina Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Argentina Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Venezuela Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Venezuela Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Columbia Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Columbia Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Peru Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Peru Drilling Fluids Market, By Application
        • Onshore
        • Offshore
    • Middle East
      • Middle East Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Middle East Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Saudi Arabia Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Saudi Arabia Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • UAE Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • UAE Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Iran Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Iran Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Iraq Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Iraq Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Qatar Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Qatar Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Kuwait Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Kuwait Drilling Fluids Market, By Application
        • Onshore
        • Offshore
    • Africa
      • Africa Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Africa Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Algeria Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Algeria Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Nigeria Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Nigeria Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Libya Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Libya Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Gabon Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Gabon Drilling Fluids Market, By Application
        • Onshore
        • Offshore
      • Zaire Drilling Fluids Market, By Product
        • Oil-based
        • Synthetic-based
        • Water-based
        • Others
      • Zaire Drilling Fluids Market, By Application
        • Onshore
        • Offshore

Drilling Fluids Market Dynamics

Drivers: Rising Global Hydrocarbon E&P

The Environmental Impact Assessment (EIA) reports that global energy consumption is on the rise, primarily due to the increased use of electricity and transportation. This trend is backed by a rise in per capita income and global Gross Domestic Product (GDP). The BP Energy Outlook 2015 predicts that global energy demand will grow at an average rate of 1.5% per year, resulting in a 41% increase from 2012 to 2035. Over the past five years, there has been a surge in the domestic production of chemicals and fuels in emerging and developing economies such as China, India, Brazil, Russia, and South Africa. This increase in disposable income and economic growth has led to a surge in global energy demand, particularly in non-OECD Asia Pacific and Latin America. Moreover, the assurance of ample supply, sustainability, and security has further amplified global energy demands. This rise in primary energy demand has influenced Petroleum Exploration & Production (E&P) activities. In recent years, the global petroleum industry, especially in the Middle East & Africa, and North America, has seen an increase in crude oil production in both onshore and offshore oilfields. In 2016, global crude oil production reached 75,476.7 thousand barrels per day (BPD), with the Middle East leading the industry, followed by Europe & Eurasia. The escalation in petroleum E&P activities in countries such as the U.S., Indonesia, Venezuela, China, Nigeria, and Canada has significantly contributed to the increased demand for drilling bits over the past few years.

Shift In Trend Toward Developing Unconventional Resources

With the rise in global energy needs, traditional oil and gas sources are being exhausted, potentially compromising future energy requirements. The worldwide demand for natural gas is projected to increase at a Compound Annual Growth Rate (CAGR) of 1.9% from 2012 to 2035. Most of this growth is expected to come from non-OECD countries, surpassing the growth in demand from OECD countries. This trend is likely to heighten reliance on exploited conventional sources. The industry is shifting its focus to unconventional resources due to the combination of increasing energy demand and the depletion of conventional energy sources. To cater to the ever-increasing energy needs, major Exploration & Production (E&P) companies are turning their attention to the development of unconventional oil and gas reserves, including shale oil, shale gas, tight oil, tight gas, and coal bed methane (CBM). The exploitation of unconventional gases in the U.S. since 2006 has not only had a lasting effect on the gas supply in North America but has also instigated significant changes in the global gas market.

Restrains: Crude Oil Price Slump

In 2014 and 2015, a decrease in oil prices led to a swift cutback in planned capital expenditure and the adoption of cost-saving measures by global oil entities. This defensive approach taken by oil companies had a direct and rapidly intensifying impact on the oilfield services industry, which depends on these companies for business. Numerous industries associated with the oil and gas market are experiencing significant cash flow reductions. The fall in oil prices has resulted in financial distress, particularly for oil entities with no or limited hedging arrangements. These entities have seen a substantial decrease in cash flow from oil and gas production, affecting their ability to meet debt or contractual obligations, fund operations, and pursue new or existing projects. As a result, many oilfield services companies are dealing with payment defaults or delays, and cancellations or postponements of projects. These companies have their suppliers and subcontractors, and the problems are being passed down the chain. Bondholders, debt providers, and banks are facing covenant breaches, requests, and payment defaults, leading to deferred payments. The global oil and gas rig count decreased from 3,578 in 2014 to 1,593 in 2016. Rig counts, which are sensitive to crude oil price changes and are considered reliable predictors of future oil production, have declined. This decrease has a negative long-term effect on oilfield services companies and midstream master limited partnerships (MLPs) such as Sunoco Logistics Partners (SXL), Energy Transfer Partners (ETP), and Boardwalk Pipeline Partners (BWP).

What Does This Report Include?

This section will provide insights into the contents included in this drilling fluids market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Drilling fluids market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Drilling fluids market quantitative analysis

  • Market size, estimates, and forecast from 2018 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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