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Offshore Drilling Fluid Market

Offshore Drilling Fluid Market Size and Segment by Type (Oil-Based Fluids, Water-Based Fluids, Synthetic-Based Fluids, Others), by Applications (Maintain Wellbore Stability, Oil And Gas Extraction, Mineral Extraction, Others), by End User Industry (Automotive, Energy Industry, Oil & Gas, Others), and by Regions | Global Market Forecast 2022-2028

Report Id: SNS/C&M/1492 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Offshore Drilling Fluid Market Size was valued at USD 7.5 billion in 2021 and is expected to reach USD 13.13 billion by 2028, and grow at a CAGR of 4.4% over the forecast period 2022-2028. Offshore drilling is a mechanical procedure that is used to locate petroleum that is trapped in the form of rock beneath the bottom. Drilling activities on the continental shelf, as well as drilling in lakes, inshore waterways, and inland seas, are all examples. The increasing reach of deepwater and ultra-deepwater, increased investments in offshore discoveries, quick technology developments, and regulatory bodies' implementation of strict onshore drilling projects are all driving up demand for offshore drilling. According to the corporation, the market for offshore drilling in ultra-deepwater has significant growth potential in the near future. However, the market's expansion would be hampered by the capital-intensive nature of the industry and the collision of oil prices over the projection period.

Offshore Drilling Fluid Market Revenue Graph

Market Dynamics:

Drivers:

  • Rapid advancement Oil and Gas industries

  • Increased cost efficiency and higher oil prices.

Restraints:

  • The investment cost for drilling

  • Increasing concerns regarding the Environmental impact 

Challenge:

  • Growing government spending for improvement in the oil and gas sector.

Impact of covid-19:

The current coronavirus outbreak has had a major influence on various global economies, particularly the offshore drilling fluid business. Several countries were compelled to go into lockdown as a result of the epidemic, which resulted in the shutdown of industrial facilities in practically every industry around the world for an extended length of time.

Due to techniques like social distancing and lockdowns, there was a serious lack of resources, workforces, and raw commodities throughout the COVID-19 epidemic. This has had an effect on the global offshore drilling fluid market.

Key Players:

Halliburton, National Oilwell Varco, Newpark Resources Inc, Inc, Weatherford, Scomi Group Bhd, GENERAL ELECTRIC, Akzo Nobel N.V, Shell, Valaris plc, SECURE ENERGY, CES, Yara, Schlumberger Limited, Baker Hughes Company, TETRA Technologies, Gumpro Drilling Fluids Pvt. Ltd, National Energy Services Reunited Corp., China Oilfield Services Limited, ASAP Fluids Pvt. Ltd., TRANSOCEAN LTD, and other players.

Market Segmentation:
By Type

  • Oil-Based Fluids

  • Water-Based Fluids

  • Synthetic-Based Fluids

  • Others

By Applications

  • Maintain Wellbore Stability

  • Oil And Gas Extraction

  • Mineral Extraction

  • Others

By End User Industry

  • Automotive

  • Energy Industry

  • Oil & Gas

  • Others

Offshore Drilling Fluid Market Segment Pie Chart

Regional Analysis:

North America, Europe, Asia Pacific, and the Rest of the World make up the worldwide drilling fluids market. In the drilling fluids market, North America has the largest share. In North America, the United States has the biggest market share. The market is being driven by huge hydrocarbon resources in the US Shale basins, as well as continual offshore drilling in the Gulf of Mexico region. The drilling fluid market in Asia Pacific is expected to grow rapidly in the next years. Due to the expanding population and increased drilling and exploration activity in the region, there is an increase in energy consumption.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Offshore Drilling Fluid Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 7.5 Billion
Market Size by 2028 US$ 13.13 Billion
CAGR CAGR of 4.4% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Oil-Based Fluids, Water-Based Fluids, Synthetic-Based Fluids, Others)
• By Applications (Maintain Wellbore Stability, Oil And Gas Extraction, Mineral Extraction, Others)
• By End User Industry (Automotive, Energy Industry, Oil & Gas, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Halliburton, National Oilwell Varco, Newpark Resources Inc, Inc, Weatherford, Scomi Group Bhd, GENERAL ELECTRIC, Akzo Nobel N.V, Shell, Valaris plc, SECURE ENERGY, CES, Yara, Schlumberger Limited, Baker Hughes Company, TETRA Technologies, Gumpro Drilling Fluids Pvt. Ltd, National Energy Services Reunited Corp., China Oilfield Services Limited, ASAP Fluids Pvt. Ltd., TRANSOCEAN LTD, and other players.
DRIVERS • Rapid advancement Oil and Gas industries
• Increased cost efficiency and higher oil prices.
Opportunities • The investment cost for drilling
• Increasing concerns regarding the Environmental impact


Frequently Asked Questions (FAQ) :

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

 

Ans: The current coronavirus outbreak has had a major influence on various global economies, particularly the offshore drilling fluid business. Several countries were compelled to go into lockdown as a result of the epidemic, which resulted in the shutdown of industrial facilities in practically every industry around the world for an extended length of time. Due to techniques like social distancing and lockdowns, there was a serious lack of resources, workforces, and raw commodities throughout the COVID-19 epidemic. This has had an effect on the global offshore drilling fluid market.

Ans: Halliburton, National Oilwell Varco, Newpark Resources Inc, Inc, Weatherford, Scomi Group Bhd, GENERAL ELECTRIC, Akzo Nobel N.V, Shell, Valaris plc, SECURE ENERGY, CES, Yara, Schlumberger Limited, Baker Hughes Company, TETRA Technologies, Gumpro Drilling Fluids Pvt. Ltd, National Energy Services Reunited Corp., China Oilfield Services Limited, ASAP Fluids Pvt. Ltd. And TRANSOCEAN LTD are the major key players of Offshore Drilling Fluid Market.

 

Ans: Oil-Based Fluids, Water-Based Fluids, Synthetic-Based Fluids and Others are the sub-segments of by type segment.

Ans: Global Offshore Drilling Fluid Market Size was valued at USD 7.5 billion in 2021, and expected to reach USD 13.13 billion by 2028, and grow at a CAGR of 4.4% over the forecast period 2022-2028.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Offshore Drilling Fluid Market Segment, By Type

                8.1 Oil-Based Fluids

                8.2 Water-Based Fluids

                8.3 Synthetic-Based Fluids

                8.4 Others

 

9. Global Offshore Drilling Fluid Market Segment, By Applications

                9.1 Maintain Wellbore Stability

                9.2 Oil and Gas Extraction

                9.3 Mineral Extraction

                9.4 Others

 

13. Global Offshore Drilling Fluid Market Segment, By End user industry

                13.1 Automotive

                13.2 Energy Industry

                13.3 Oil & Gas

                13.4 Others

 

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2    Canada

13.2.3    Mexico

13.3 Europe

13.3.1    Germany

13.3.2    UK

13.3.3    France

13.3.4    Italy

13.3.5    Spain

13.3.6    The Netherlands

13.3.7    Rest of Europe

13.4 Asia-Pacific

13.4.1    Japan

13.4.2    South Korea

13.4.3    China

13.4.4    India

13.4.5    Australia

13.4.6    Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1    Israel

13.5.2    UAE

13.5.3    South Africa

13.5.4    Rest

13.6 Latin America

13.6.1    Brazil

13.6.2    Argentina

13.6.3    Rest of Latin America

 

13.Company Profiles

                13.1 Schlumberger Limited

                                13.1.1 Financial

                                13.1.2 Products/ Services Offered

                                13.1.3 SWOT Analysis

                                13.1.4 The SNS view

                13.2 Halliburton

                13.3 Baker Hughes Company

                13.4 National Oilwell Varco

                13.5 Newpark Resources Inc

                13.6 TETRA Technologies, Inc

                13.7 Weatherford

                13.8 Scomi Group Bhd

                13.9 GENERAL ELECTRIC

                13.13 Gumpro Drilling Fluids Pvt. Ltd

                13.13 Akzo Nobel N.V

                13.13 National Energy Services Reunited Corp.

                13.13 Shell

                13.14 TRANSOCEAN LTD

                13.15 Valaris plc

                13.16 SECURE ENERGY

                13.17 CES, Yara

                13.18 China Oilfield Services Limited

                13.19 ASAP Fluids Pvt. Ltd.

 

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

 

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