North America
Industry Analysis, Size Share, Growth, Trends and Forecast 2012 -
2019," drilling fluids market was valued at USD 4,336.8 million
in 2012 and is expected to reach 7,203.6 million in 2019, growing at
a CAGR of 7.5% from 2013 to 2019.
Browse North America
Drilling Fluids Market Report with Full TOC at
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Growing demand for
natural gas and crude oil in North America is expected to bolster
growth drilling fluids market in the region. Furthermore, shift
towards exploring and developing deep sea reserves and increasing
implementation of horizontal drilling is expected to augment the
growth of the North America drilling fluids market. Increasing focus
towards developing unconventional resources such as shale oil/gas,
coal bed methane and other resources are likely to bolster the
overall product demand. Key challenges faced by the industry include
increasing environmental concerns regarding the use of drilling
fluids and raising concerns over the disposal of waste drilling
fluids and contamination are expected to curb market growth of
drilling fluids in North America. However, emergence of
nanotechnology for product development is expected to overcome these
challenges.
Key applications
analyzed in this market include onshore oil and gas and offshore oil
and gas. Onshore oil and gas held a significant share in the overall
market followed by the offshore oil and gas application in 2012. The
increasing onshore drilling activities are expected to boost the
demand for the market in onshore reserves thereby fuelling the demand
for drilling fluids. In terms of revenue, onshore oil and gas
application market is likely to grow at a CAGR of 7.9% from 2013 to
2019.
The U.S dominated
North America drilling fluids market in 2012, accounting for more
than 80% of the market share in 2012. Rising demand for drilling
fluids attributed to overall market growth. Growing exploration of
shale gas in the U.S and Canada is expected to drive the market for
drilling fluids over the forecast period from 2013 to 2019.
Key players in the
market include Weatherford International, Schlumberger Technology
Corporation, Newpark Resources Inc., National Oilwell Varco,
Halliburton Company, China Oilfield Services Limited, Canadian Energy
Services &Technology Corp, Baker Hughes Incorporated, and Anchor
Drilling Fluids USA Inc. Schlumberger Technology Corporation
dominated the market owing to the widespread geographic operations
and focused R&D activities. The report provides an overview of
these companies followed by their financial revenue, business
strategies, and recent developments.
The research
analyzes and estimates performance and market for drilling fluids in
North America, providing detailed trend analysis of the market by
geography and comprehensive analysis of companies that are dealing in
drilling fluids market. The report presents a thorough assessment of
the strategies followed by different stakeholders by segmenting the
drilling fluids market as below:
North AmericaDrilling Fluids Market: Application Analysis
- Onshore Oil and
Gas
- Offshore Oil and
Gas
North America
Drilling Fluids Market: Product Segment Analysis
- Oil Based Fluids
(OBFs)
- Synthetic Based
Fluids (SBFs)
- Water Based Fluids
(WBFs)
Browse North America
Drilling Fluids Market Report with Full TOC at
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North America
Drilling Fluids Market: Country Analysis
- U.S.
- Canada
- Mexico
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