ALBANY, New York, February 10, 2016 /PRNewswire/ --
Transparency Market Research has published a new market report titled "Clear Brine Fluids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." According to the report, the global clear brine fluids market was valued at US$842.9 Million in 2014 and is anticipated to reach US$1,444.7 Million by 2023, expanding at a CAGR of 6.2% between 2015 and 2023.
Clear brine fluids are industrial fluids used in various operations, such as completion, work-over, and drilling, in the oil & gas industry. These fluids are specifically manufactured to control formation pressures as well as reduce damage in the reservoir. Clear brine fluids are categorized into potassium chloride, calcium chloride, sodium chloride, calcium bromide, potassium bromide, sodium bromide, and others (including zinc bromide and ammonium chloride). Chloride brines such as potassium chloride, sodium chloride, and calcium chloride are preferred for onshore drilling activities, while bromide brines such as calcium bromide, potassium bromide, sodium bromide, and zinc bromide are preferred for offshore drilling activities.
Browse the full Research Report at http://www.transparencymarketresearch.com/clear-brine-fluids-market.html
Energy security sought after by developed nations is estimated to be one of the major factors driving the clear brine fluids market. The Organization of Petroleum Exporting Countries (OPEC) is one of the major forces dictating the global crude oil prices. This dominance has compelled major developed nations to explore alternative energy resources in order to gain energy security and lower their dependence on OPEC for demand for energy. Thus, there has been a major paradigm shift toward alternative sources of energy across the globe; major developed nations such as the U.S., the U.K., Canada, and Australia have been striving to achieve complete energy self-sufficiency over the past few years. Development of shale reserves has been one of the key steps toward achieving this objective. This race toward achieving energy security has resulted in a sudden spike in drilling and exploration activities in these developed nations. Thus, demand for clear brine fluids in drilling and completion activities has been increasing. This trend is estimated to continue during the next few years.
Potassium chloride was the major product type, accounting for nearly one-fourth share of the global clear brine fluids market in 2014. Potassium chloride has been the preferred choice of clear brine fluids in drilling and completion activities in the oil & gas industry. Potassium chloride is anticipated to continue its dominance in the clear brine fluids market during the forecast period.
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North America dominated the global clear brine fluids market with nearly two-third share in terms of volume in 2014. This trend is projected to continue during the forecast period. Asia Pacific is likely to be the fastest growing region in the next few years due to high growth in the number of shale exploration projects in China and Australia.
Major players operating in the clear brine fluids market include Israel Chemicals Ltd., Albemarle Corporation, TETRA Technologies, Inc., and Great Lake Solutions.
Browse Regional Analysis in detail: http://www.europlat.org/global-clear-brine-fluids-market-to-account-for-us1-44-bn-by-2023-transparency-market-research.htm
This Report Segments the Global Clear Brine Fluids Market as follows:
Clear Brine Fluids Market - Product Segment Analysis
- Potassium chloride
- Calcium chloride
- Sodium chloride
- Potassium bromide
- Sodium bromide
- Calcium bromide
- Others (zinc bromide, aluminum chloride, etc.)
Clear Brine Fluids Market - Regional Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- GCC countries
- South Africa
- Rest of MEA
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