LONDON, Nov. 3, 2016 /PRNewswire/ -- Recovery in oil & gas prices, and increased capital expenditure by major oil & gas companies is projected to increase rig count and drilling activities across the globe. This is anticipated to fuel demand for drilling fluids during the forecast period. Increasing drilling activities in offshore and onshore fields is anticipated to drive demand for drilling fluids across the globe in the coming years. Increasing onshore activities can be attributed to rise in deep sea drilling, due to growing global oil demand. Growth in offshore drilling such as deep water and ultra-deep water drilling activities is also anticipated to contribute to the rising demand for drilling fluids across the globe during 2016-2021. Moreover, technological advancements and exploration activities pertaining to shale gas and coalbed methane (CBM) are also boosting global drilling fluids market. Furthermore, in line with regulations and increasing environmental concerns, drilling fluid manufacturers across the globe are focusing on production of environment friendly products.
According to "Global Drilling Fluids Market By Type, By Application, By Region, Competition Forecast & Opportunities, 2011 - 2021", the global market for drilling fluids is forecast to grow at a CAGR of over 8% during 2016-2021, on account of anticipated increase in oil & gas drilling activities. In 2015, North America dominated demand for drilling fluids across the globe, followed by Asia-Pacific. Moreover, water based drilling fluids dominated global drilling fluids market, due to their environment friendly properties and cost effectiveness. High costs and environment concerns are projected to reduce demand for oil based drilling fluids and in turn boost sales of high performance aqueous drilling fluids and synthetic drilling fluids. "Global Drilling Fluids Market By Type, By Application, By Region, Competition Forecast & Opportunities, 2011 - 2021" discusses the following aspects of global drilling fluids market:
- Global Drilling Fluids Market Size, Share & Forecast
- Segmental Analysis - By Type (Water Based Fluids, Oil Based Fluids, Synthetic Fluids and Pneumatic Fluids), By Application (Onshore & Offshore), By Region (Asia-Pacific, North America, Europe, Middle East & Africa, & South America)
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of global drilling fluids market.
- To identify the on-going trends and anticipated growth in the next five years.
- To help industry consultants and drilling fluid suppliers align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included surveys with drilling fluid suppliers, channel partners & industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases
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