LONDON, July 16, 2015 /PRNewswire/ -- The Latin American drilling fluid and completion fluid market is estimated to grow at a CAGR of 6.6% from 2014 to 2019. This growth is mainly attributed to the rise in drilling activities in Latin America.
Latin American countries such as Venezuela and Brazil are a part of the Golden Triangle, wherein the offshore drilling activities are progressing at a rapid pace. The large amount of proved reserves in these countries has attracted huge investments. Drilling activities in Latin America are rapidly growing with numerous multinational companies investing in this region. The drilling fluids play a very important role in the reservoir life cycle; however, it also contaminates the ground water due to the presence of chemicals that prove to be toxic for the ground water.
In this report, the drilling fluid and completion fluid market has been broadly classified with respect to type into oil-based fluids, water based fluid systems, and synthetic based fluid systems. The water-based fluids category is expected to grow at a CAGR of 6.9% from 2014 to 2019, as it is cost effective and eco-friendly.
Geographically, the Latin American drilling fluid and completion fluid market has been segmented into Mexico, Brazil, Venezuela, and Argentina among others. Brazil is estimated to grow at a higher CAGR as compared to other countries, due to the presence of large offshore reserves.
Weatherford, Halliburton, Scomi Group, M-I Swaco, National Oilwell Varco Inc., Newpark Resources, and Tetra Technologies are some of the major players in the Latin America drilling fluid and completion fluid market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the drilling fluid and completion fluid market, high-growth regions and their respective government initiatives, drivers, and restraints.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the 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:
1) Market Penetration: Information about the drilling and completion fluids market and the major players in Latin America.
2) Product Development/Innovation: Information about various new technologies that have been adopted by market players thriving in the drilling fluid and completion fluid market.
3) Market Development: Information about markets in different geographic locations in Latin America.
4) Market Diversification: Recent developments, varied strategies undertaken, and investments done by various market players.
5) Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the drilling fluid and completion fluid market.
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