NEW YORK, July 9, 2015 /PRNewswire/ -- Drilling and completion fluids are among the most essential requirements for any drilling activity, whether carried out in onshore or offshore areas. Drilling and completion fluids serve many purposes in drilling activities; the fluids facilitate the drilling process by suspending cuttings, controlling pressure, stabilizing exposed rock, providing buoyancy, and cooling and lubricating. The Asia-Pacific drilling & completion fluid market, by application is estimated to grow at a CAGR of 4.7% from 2014 to 2019 to reach $2,223.5 million by 2019. Even though China holds the largest share in the Asia-Pacific drilling and completion fluid market, the Indonesian segment is expected to grow at the fastest CAGR of 5.7% during the forecast period of 2014 to 2019. The water-based fluid segment holds the largest market share in the Asia-Pacific region, among the fluid types (on the basis of the base fluid used).
In this report, the Asia-Pacific drilling & completion fluid market has been broadly classified in terms of based fluid, application, and geography. In 2013, the Asia-Pacific market was dominated by M-I SWACO (a part of Schlumberger Ltd.), Halliburton Co., Baker Hughes Inc., NewPark Resources, and Tetra Technologies Inc., among others. M-I SWACO is the leading provider of technology, integrated project management, and drilling & completion fluids in the Asia-Pacific market. It has strong presence in the water-based, oil-based, and synthetic-based segments of the market. The competitive strategies of the company include acquisitions, joint ventures, and investments in research & development.
Besides M-I SWACO, Halliburton is another major player in the Asia-Pacific drilling and completion fluid market. Over the past 3 years, the company has emphasized on acquisitions and new product and technology launches to gain a competitive advantage in the market. Halliburton also invests in research & development through various contracts and joint ventures with universities and research institutions. The company owns four major brands Pinnacle, Landmark, MultiChem, and Sperry Drilling. The company has significant presence across 80 countries. The company segments its geo markets based on reservoirs, geology, geophysics, and operational/technical challenges. This segmentation helps the company to focus better as per the needs of the geo market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which together provide the basic views on the competitive landscape; emerging and high-growth segments of the market; high-growth countries and their respective regulatory policies; government initiatives; and market drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater share of the Asia-Pacific market. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on drilling and completion fluids offered by the top 10 players of the Asia-Pacific drilling & completion fluid market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the Asia-Pacific drilling & completion fluid market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for drilling & completion fl
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