According to the new market research report by IndustryARC titled “Oilfield Drilling Fluid Additives Market: Fluid Viscosifiers (Cellulosics, Others); Corrosion Inhibitors (Oxides, Others); Dispersants (Ionic, Non Ionic); Biocides (Glutaraldehyde, Others); By Defoamers; By Formulation (Water, Oil, Synthetic); By Geography – (2018-2023)” published by IndustryARC, the market is driven by growing offshore drilling activities, and surge in finding potential untapped oil and gas reserves.
North America dominates with major share and growth in the Oilfield Drilling Fluid Additives Market
North America is expected to get a significant amount of growth in Oilfield Drilling Fluid Additives Market. The market has been gaining more than 50% of rising share in 2017 due to growing drilling activities in the areas of Mexico, and finding possible opportunities in oil and gas services. North America holds the dominant position due to the increasing U.S. oil sands extraction market. The market is estimated to grow at a CAGR of 2.48% to reach revenue of $942.18 million by 2023 from $824.88 million in 2017. Asia-Pacific oilfield drilling fluid additives market is anticipated to grow at a faster CAGR of 2.81% to reach a revenue of $296.58 million by 2023 from $254.696 million 2017. Ongoing efforts of China in Enhanced Oil Recovery (EOR) technique and deep water drilling activities are increasing in India, Japan, and South Korea in the oil refining operation, where oilfield chemicals will experience a robust growth in the market.
Selected Fluid Formulation done in the full Report:
Water based fluids, oil based fluids and synthetic based fluids are the segments of type fluid formulation in Oilfield Drilling Fluid Additives Market. Among all, water based fluids generated the highest revenue of $757.07 million in 2017 in the global market. Findings say water based fluids segment is estimated to grow at a CAGR of 3.52% to reach a revenue of $918.74 million in 2023. Water based lubricants are generally preferred to be utilized as drilling lubricant. Oil based fluids are the second most utilized additives that generated a revenue of $547.42 million in 2017. The oil based fluids market is expected to grow at a CAGR of 2.60% to reach revenue of $629.73 million. Increasing oil production over the years has helped the synthetic based fluid market to grow in oil drilling field additives market. The synthetic based fluids is predicted to grow at a CAGR of 1.44% to reach revenue of $290.53 million by 2023.
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Excerpts on Market Growth Factors
- Bentonite and attapulgite are the drilling mud additives used to control the fluid-loss and cleaning effectiveness in the drilling process. The characters such as low colloidal content, effective inhibition, shear-thinning behavior and non-dispersed system in order to get the maximum drilling performance is helping to lead in the market.
- Recent development of deep water and ultra-deep water operations will bring significant new and more technical complex to harsh conditions. In order to overcome the challenges, the biopolymer fluid viscofiers will play an important role with respect to its environmental based advantage.
- The negative impact of oil based defoamers on the environment has been a major reason for the slow growth in this segment. So, water based defoamers have fueled their demand in the petrochemical sector.
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Key players of the Oilfield Drilling Fluid Additives Market
Oilfield Drilling Fluid Additives Market is extremely dominated due to competition among the dominant players such as BASF, Chevron Philips Chemical Company, E.I. Du Pont De Nemours and Company. BASF SE has its core drill function as Bentonite Extenders, Dewatering Additives, Fluid Loss Additives, Shale Inhibitors, Thinners, Viscosifiers with patent named as Alcomer 180, Alcomer 1771, Alcomer 24, 80, 90 types, Alcomer 700,800 types, Alcomer 7100 types etc. Du Pont De Nemours And Company launched its products in the year between 2013-2016. The products are DuPont Capstone, and DuPont Viton. Chevron Corporation has combination of products such as Defoamers, Oil Mud, and Viscosifiers.
Oilfield Drilling Fluid Additives Market report is segmented as below
- Oilfield Drilling Fluid Additives – Market by Fluid Formulation
- Water Based
- Oil Based
- Synthetic Based
- Oilfield Drilling Fluid Additives Market- by Type
- Fluid Viscosifiers
- Corrosion Inhibitors
- Non Ionic
- Surface Modifiers
- Water Based
- Oil Based
- Silicone Based
- Polymer Based
- Alkyl Polyacrylates Based
- Tetrakis Hydroxymethyl Phosphonium Sulfate (THPS)
- Oilfield Drilling Fluid Additives Market by Geography (covers 10+ countries)
- Oilfield Drilling Fluid Additives Entropy Market
Companies Citied / Interviewed
- The Dow Chemical Company
- Croda International Plc
- Lubrizol Corporation
- Stepan Company
- Akzo Nobel N.V
- Clariant Ag
- Ashland, Inc.
- Company 8
- Company 9
- Company 10+
Specialty Oilfield Chemicals Market
Oilfield Surfactants Market
What can you expect from the report?
The Oilfield Drilling Fluid Additives Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Oilfield Drilling Fluid Additives Market segment?
Response: Yes, we do have separate reports as mentioned below:
- America Oilfield Drilling Fluid Additives Market (2018-2023)
- Europe Oilfield Drilling Fluid Additives Market (2018-2023)
- Asia-Pacific Oilfield Drilling Fluid Additives Market (2018-2023)
- Type Oilfield Drilling Fluid Additives Market (2018-2023)
- Formulation Oilfield Drilling Fluid Additives Market (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interests.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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