Product Code: 978-1-68038-116-0
Drilling Fluids Market Growth & Trends
The global drilling fluids market size is expected to reach USD 11.27 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by the increasing demand in the energy industry. The high demand for crude oil by various industries, such as transportation and energy, has been ramping up oil & gas production globally. Growing concerns about crumbling boreholes, handling solid waste, and spill containment are anticipated to increase drilling fluid demand significantly during the forecast period. The oil and gas industry, and particularly the industries that are linked with it, has been creating immense opportunities in the market.
Water-based drilling fluid captured the highest market share in 2022 due to the increasing requirement for water-based fluid in horizontal drilling like wells. Water-based is considered to be less harmful to the environment than other oils, which is expected to drive demand in the forecast period. Water-based oils are used in 75% of drilling wells globally. The types of fluids used in this are freshwater, brine, saturated, or formate brine, which are less toxic, resulting in creating a huge potential for the industry in the coming years.Product manufacturers have been taking several strategic initiatives, such as new product development, partnerships, M&A, collaborations, agreements, and joint ventures.
These strategies have been adopted to increase market penetration and create enough opportunities for technology implementation for different end-use applications in the region.The major challenge for the product is its adverse effect on the environment due to its toxicity. Water-based oil is still less impactful to the environment in comparison with oil-based fluids. The degree of impact also depends on the type of oil used in the existing environmental conditions. This environmental impact has brought certain restrictions on its use in various parts of the world.
Drilling Fluids Market Report Highlights
- The water-based segment is expected to grow at a CAGR of 5.0% from 2023 to 2030 as they are less likely to impact the environment as compared to oil-based, resulting in its demand in the forecast period
- The overall industry is anticipated to witness a huge leap in demand, owing to the growing requirement for crude oil in emerging industry sectors, such as energy and transportation, which is expected to drive demand for oil & gas production globally
- The onshore application segment dominated the market with the highest share of 60.1% in 2022. This is attributed to the ongoing oil drilling activities in the onshore field to fulfill growing energy needs
- The global volume of oil & gas production is anticipated to witness huge growth due to an increasing number of research initiatives to develop abandoned oil wells and renewed projects in onshore oilfield
Table of Contents
Chapter 1 Methodology And Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definition
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR's Internal Database
- 1.3.3 Secondary Sources & Third-Party Perspectives
- 1.4 Information Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation & Data Visualization
- 1.6 Data Validation & Publishing
- 1.7 Research Scope And Assumptions
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Drilling Fluids Market: Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.2 Industry Value Chain Analysis
- 3.2.1 Manufacturing/Technology Trends
- 3.2.2 Sales Channel Analysis
- 3.3 Price Trend Analysis, 2018 - 2030
- 3.3.1 Factors Affecting Prices
- 3.4 Regulatory Framework
- 3.5 Market Dynamics
- 3.5.1 Market Driver Analysis
- 3.5.2 Market Restraint Analysis
- 3.5.3 Market Challenges Analysis
- 3.5.4 Market Opportunity Analysis
- 3.6 Business Environment Analysis
- 3.6.1 Porter's Analysis
- 3.6.2 PESTEL Analysis
Chapter 4 Drilling Fluids Market: Supplier Portfolio Analysis
- 4.1 List Of Key Raw Material Suppliers
- 4.2 Raw Material Trends
- 4.3 Portfolio Analysis/Kraljic Matrix
- 4.4 Engagement Model
- 4.5 Negotiation Strategies
- 4.6 Sourcing Best Practices
Chapter 5 Drilling Fluids Market: Product Estimates & Trend Analysis
- 5.1 Product Movement Analysis & Market Share, 2022 & 2030
- 5.1.1 Oil-based
- 5.1.1.1 Oil-based Drilling Fluids Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 5.1.2 Synthetic-based
- 5.1.2.1 Synthetic-based Drilling Fluids Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 5.1.3 Water-based
- 5.1.3.1 Water-based Drilling Fluids Market Estimates And Forecast, 2018 - 2030 (USD Million)
- 5.1.4 Others
- 5.1.4.1 Other Drilling Fluids Market Estimates And Forecast, 2018 - 2030 (USD Million)
Chapter 6 Drilling Fluids Market: Application Estimates & Trend Analysis
- 6.1 Application Movement Analysis & Market Share, 2022 & 2030
- 6.1.1 Onshore
- 6.1.1.1 Drilling Fluids Market Estimates And Forecast, In Onshore, 2018 - 2030 (USD Million)
- 6.1.2 Offshore
- 6.1.2.1 Drilling Fluids Market Estimates And Forecast, In Offshore, 2018 - 2030 (USD Million)
Chapter 7 Drilling Fluids Market: Regional Estimates & Trend Analysis
- 7.1 Drilling Fluids Market: Regional Outlook
- 7.2 North America
- 7.2.1 North America Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.2.2 North America Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.2.3 U.S.
- 7.2.3.1 Key Country Dynamics
- 7.2.3.2 U.S. Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.2.3.3 U.S. Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.2.4 Canada
- 7.2.4.1 Key Country Dynamics
- 7.2.4.2 Canada Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.2.4.3 Canada Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.2.5 Mexico
- 7.2.5.1 Key Country Dynamics
- 7.2.5.2 Mexico Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.2.5.3 Mexico Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.3 Europe
- 7.3.1 Europe Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.3.2 Europe Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.3.3 UK
- 7.3.3.1 Key Country Dynamics
- 7.3.3.2 UK Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.3.3.3 UK Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.3.4 Russia
- 7.3.4.1 Key Country Dynamics
- 7.3.4.2 Russia Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.3.4.3 Russia Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.3.5 Norway
- 7.3.5.1 Key Country Dynamics
- 7.3.5.2 Norway Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.3.5.3 Norway Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.3.6 Azerbaijan
- 7.3.6.1 Key Country Dynamics
- 7.3.6.2 Azerbaijan Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.3.6.3 Azerbaijan Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.3.7 Kazakhstan
- 7.3.7.1 Key Country Dynamics
- 7.3.7.2 Kazakhstan Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.3.7.3 Kazakhstan Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.2 Asia Pacific Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.3 China
- 7.4.3.1 Key Country Dynamics
- 7.4.3.2 China Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.3.3 China Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.4 India
- 7.4.4.1 Key Country Dynamics
- 7.4.4.2 India Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.4.3 India Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.5 Indonesia
- 7.4.5.1 Key Country Dynamics
- 7.4.5.2 Indonesia Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.5.3 Indonesia Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.6 Malaysia
- 7.4.6.1 Key Country Dynamics
- 7.4.6.2 Malaysia Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.6.3 Malaysia Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.7 Pakistan
- 7.4.7.1 Key Country Dynamics
- 7.4.7.2 Pakistan Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.7.3 Pakistan Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.8 Myanmar
- 7.4.8.1 Key Country Dynamics
- 7.4.8.2 Myanmar Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.8.3 Myanmar Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.9 Singapore
- 7.4.9.1 Key Country Dynamics
- 7.4.9.2 Singapore Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.9.3 Singapore Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.10 Australia
- 7.4.10.1 Key Country Dynamics
- 7.4.10.2 Australia Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.10.3 Australia Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.11 Vietnam
- 7.4.11.1 Key Country Dynamics
- 7.4.11.2 Vietnam Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.11.3 Vietnam Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.4.12 Thailand
- 7.4.12.1 Key Country Dynamics
- 7.4.12.2 Thailand Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.4.12.3 Thailand Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.5 Central & South America
- 7.5.1 Central & South America Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.5.2 Central & South America Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.5.3 Brazil
- 7.5.3.1 Key Country Dynamics
- 7.5.3.2 Brazil Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.5.3.3 Brazil Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.5.4 Argentina
- 7.5.4.1 Key Country Dynamics
- 7.5.4.2 Argentina Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.5.4.4 Argentina Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.5.5 Venezuela
- 7.5.5.1 Key Country Dynamics
- 7.5.5.2 Venezuela Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.5.5.3 Venezuela Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.5.6 Colombia
- 7.5.6.1 Key Country Dynamics
- 7.5.6.2 Colombia Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.5.6.3 Colombia Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.5.7 Peru
- 7.5.7.1 Key Country Dynamics
- 7.5.7.2 Peru Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.5.7.3 Peru Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.6 Middle East
- 7.6.1 Middle East Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.6.2 Middle East Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.6.3 Saudi Arabia
- 7.6.3.1 Key Country Dynamics
- 7.6.3.2 Saudi Arabia Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.6.3.3 Saudi Arabia Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.6.4 UAE
- 7.6.4.1 Key Country Dynamics
- 7.6.4.2 UAE Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.6.4.4 UAE Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.6.5 Qatar
- 7.6.5.1 Key Country Dynamics
- 7.6.5.2 Qatar Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.6.5.3 Qatar Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.6.6 Kuwait
- 7.6.6.1 Key Country Dynamics
- 7.6.6.2 Kuwait Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.6.6.3 Kuwait Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.6.7 Iran
- 7.6.7.1 Key Country Dynamics
- 7.6.7.2 Iran Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.6.7.3 Iran Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.6.8 Iraq
- 7.6.8.1 Key Country Dynamics
- 7.6.8.2 Iraq Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.6.8.3 Iraq Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.7 Africa
- 7.7.1 Africa Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.7.2 Africa Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.7.3 Algeria
- 7.7.3.1 Key Country Dynamics
- 7.7.3.2 Algeria Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.7.3.3 Algeria Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.7.4 Libya
- 7.7.4.1 Key Country Dynamics
- 7.7.4.2 Libya Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.7.4.3 Libya Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.7.5 Nigeria
- 7.7.5.1 Key Country Dynamics
- 7.7.5.2 Nigeria Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.7.5.3 Nigeria Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.7.4 Gabon
- 7.7.4.1 Key Country Dynamics
- 7.7.4.2 Gabon Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.7.4.3 Gabon Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 7.7.5 Zaire
- 7.7.5.1 Key Country Dynamics
- 7.7.5.2 Zaire Drilling Fluids Market Estimates And Forecasts, By Product, 2018 - 2030 (USD Million)
- 7.7.5.3 Zaire Drilling Fluids Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
Chapter 8 Competitive Landscape
- 8.1 Company Categorization
- 8.2 Company Market Postioning Analysis, 2022
- 8.3 Company Heat Map Analysis
- 8.4 Strategy Mapping
- 8.5 Company Listing (Business Overview, Financial Performance, Product Benchmarking)
- 8.5.1 Baker Hughes, Inc
- 8.5.2 Halliburton, Inc
- 8.5.3 Weatherford International
- 8.5.4 Schlumberger Limited
- 8.5.5 Newpark Resources, Inc
- 8.5.6 Petrochem Performance Chemical Ltd. LLC
- 8.5.7 CES Energy Solutions Corp.
- 8.5.8 Scomi Group