Drilling and Completion Fluids Market by Application Areas (Onshore & Offshore), by Types (Water-Based Systems, Oil-Based Systems, Synthetic-Based Systems, Other Based Systems) & by Geography - Global Trends & Forecast to 2019

NEW YORK, Dec. 31, 2014 /PRNewswire/ -- This report analyzes the drilling and completion fluids market in terms of value and volume. The drilling and completion fluids market is segmented on the basis of the base fluid type, which includes water-based systems, oil-based systems, synthetic-based systems and other based systems. The market is further segmented on the basis of regions into North America, Latin America, Asia-Pacific, Europe, Africa, the Middle East, and Rest of the World (RoW).

Drilling fluids are used during drilling activity for providing lubrication, cooling of the drill bit, removal and transport, rock cutting, and for improving the overall drilling operation. Drilling fluids are essential to recover oil from new oil and gas fields from the reservoirs lying in remote and unfriendly environments where extraction relies exclusively on drilling fluids. Increasing production of crude oil is driving the demand for drilling fluids across the globe. Consumption of drilling fluids depends on the location of reservoirs and depth of drilling.

Drilling and completion fluids are witnessing substantial demand across North America because of the increased drilling activities in countries such as the U.S. and Canada. Increase in onshore drilling activities also leads to an increase in the market size of drilling and completion fluids. Rise in the drilling activities in the new offshore reserves propels the market for drilling and completion fluids.

We have used various secondary sources such as encyclopedias, directories, and databases to identify and collect information that was useful for this extensive commercial study of the drilling and completion fluids market. The primary sources—experts, suppliers and service providers from the industry—have all been interviewed to obtain and verify critical information, as well as to assess the future prospects of the drilling and completion fluids market.

The leading players in the market, such as Canadian Energy Services (Canada), M-I Swaco (U.S.), Scomi Group (Malaysia), and AkzoNobel N.V. (The Netherlands), have been profiled in this report to provide an insight into the competitive scenario in the drilling and completion fluids market.

The report also touches upon various important aspects of the market. These include analysis of the value chain, drivers, restraints, burning issues, winning imperatives, opportunities, and challenges as per the Porter's Five Forces model along with the competitive landscape. In addition to this, 15 key players in this market have also been profiled.

The report analyzes the volume of drilling and completion fluids. It segments the global drilling and completion fluids market by base fluid types, which include water-based systems, oil-based systems, synthetic-based systems, and other based systems. The report also analyzes the drilling and completion fluids market in different regions, including North America, Latin America, Europe, Asia-Pacific, Africa, the Middle East, and RoW.

The consistent increase in onshore and offshore drilling activities, increase in footage drilled, and exploration rate create promising prospects for the future of the drilling and completion fluids market. The market for drilling and completion fluids is expected to reach a value of $16.31 billion by 2019, at a CAGR of 7.3%. Water-based systems and oil-based systems lead the market and are expected to reach a value of $9.92 billion and $3.29 billion respectively, by the year 2019.
The drilling and completion fluids market is also analyzed with respect to Porter's Five Forces model. Different market forces, namely, the bargaining power of suppliers, the bargaining power of buyers, intensity of rivalry, threat of substitutes, and threat of new entrants are analyzed with respect to the drilling and completion fluids industry. The report also provides a competitive landscape of major market players around the globe that includes developments, mergers and acquisition, expansion and investments, agreements and contracts, new technologies developments, and others. The developments carried out by key industry players reflect their individual growth strategies as well as the general trend followed by other market players.

The report also provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key burning issues in the drilling and completion fluids market. Key players in the industry are profiled in detail alongside their recent developments.

Read the full report: http://www.reportlinker.com/p02582224-summary/view-report.html

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