Water-based Drilling and Completion Fluids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Water-based Drilling and Completion Fluids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2020 | Energy & Mining | PPT format

Report Digest


Global Water-based Drilling and Completion Fluids Market: Overview

Drilling and completion fluids of different rheological properties serve several purposes of oil and gas drilling operations. Water-based drilling fluid also called mud fluids facilitate oilfield service operations by meeting numerous reservoir conditions for a cost-effective and reliable borehole drilling. Hydrocarbon exploration and oil and gas producing companies, world over, have been extensively using water-based drilling and completion fluids in large-scale operations. Their characteristic non-toxicity makes them preferable than most other types.

Drilling engineers try various additives in water-based drilling and completion fluids to improve the drilling-fluid properties of the resultant formulations, so that overall this leads to higher cost savings in well drilling. The global water-based drilling and completion fluids market will see a large number of avenues from growing number of drilling activities in challenging oilfield environments.

Global Water-based Drilling and Completion Fluids Market: Notable Developments

Rapidly rising numbers of offshore oil and gas explorations over recent years has stimulated mud engineers to fine tune rheological properties. This has increased the scope of novel additives, mainly based on environmentally acceptable alternatives.

  • A case in point is the growing popularity of polyanionic cellulose as an oilfield chemical in the water-based drilling and completion fluids market. The additive allows drilling engineers to control the viscosity and filtration properties of water-based drilling and completion fluids. In the past couple years, this has been found to be more beneficial than conventional clay used as the additive. In the late 2018, one of the novel formulations of water-based drilling and completion fluids with high-temperature tolerance was designed and tested in oil reservoir lying offshore Sarawak, Malaysia.
  • Extraction of oil resources in new finds with demanding reservoir conditions has made it imperative for using better water-based drilling and completion fluids for environmental risk assessment.
  • A case in point is the recent discovery of Brulpadda gas in southern coast of South Africa. The production hasn’t taken off but the oil and gas industry has been cautious in following all protocols to avoid accident risk. In these measures, water-based drilling and completion fluids have come to occupy an important position.

Some of the most prominent competitors operating in the competitive landscape of global water-based drilling and completion fluids market include –

  • Weatherford
  • Schlumberger
  • National Oilwell Varco
  • Baker Hughes 

Global Water-based Drilling and Completion Fluids Market: Key Growth Dynamics

Rising rig count activity in a number of countries has propelled attractive strides witnessed by the global water-based drilling and completion fluids market in recent years. This in part is fueled by tougher environmental regulations. The water-based drilling and completion fluids market is notably bolstered by growing need for better lubricants for developing formulations for demanding reservoir conditions.

Good drilling practices make it imperative for mud engineers to modify the rheological properties of water-based drilling and completion fluids to meet reservoir pore pressure and temperature conditions. These changes are mostly pertain to viscosity and cuttings carrying capacity.

Numerous findings from recent testing and development initiatives by companies have cemented the efforts of drilling engineers to aim for better chemistries in water-based drilling and completion fluids. Such pursuits fuel the growth dynamics of the water-based drilling and completion fluids market. Environmentally acceptable alternatives for conventional additives have also gained striking traction in the water-based drilling and completion fluids market.

The advent of nanotechnology has enabled mud engineers to enhance the thermal and electrical properties of water-based drilling and completion fluids. Recently, nanofluids-enhanced water-based mud has come to hold a promising potential in this direction.

Global Water-based Drilling and Completion Fluids Market: Regional Assessment

Regionally, North America hold vast potential in the water-based drilling and completion fluids market. Swelling exploration and production activities in the oil and gas industry has been offering a large, sustained momentum to the regional market. Some of the other promising regional markets for water-based drilling and completion fluids market are Asia Pacific and the Middle East. The growth is also propelled by rising numbers of exploration of new gas reservoirs.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?