Global Drilling and Completion Fluids Market to Expand at 4.9% During 2022-2027, Propelled by Rising Investments in Shale Gas Exploration

July 01, 2020

According to the latest report by IMARC Group, titled “Drilling and Completion Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global drilling and completion fluids market reached a value of US$ 9.4 Billion in 2021. Drilling and completion fluids facilitate oil and gas production and exploration. Drilling fluids, or drilling mud, are viscous fluid mixtures added to the wellbore to transport solids and stabilize exposed rock formations by coating the walls. An effectively planned and maintained drilling-fluid system significantly increases the penetration rate when drilling and protects the reservoir from damage. On the other hand, completion fluids are solids-free liquids used to “complete” an oil or gas well. They improve well productivity by minimizing damage to the producing zone, and help prepare, repair and clean out the wellbore during the completion phase.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Drilling and Completion Fluids Market Trends:

Over the years, the demand for drilling and completion fluids has escalated as they deliver superior performance, resulting in lower well costs. Apart from this, increasing investments in shale gas exploration have led to a rise in the adoption of drilling and completion fluids, as they help in controlling the pressure in the wellbore, prolong the life of the drilling equipment by reducing friction and associated heat, and facilitate final operations before the production phase. Moreover, governments of various nations are undertaking favorable initiatives to promote the utilization of sustainable drilling and completion fluids. In line with this, market players are developing recyclable and biodegradable variants of completion and drilling fluids. Along with this, the utilization of nanotechnology in the development of high-performance fluids has significantly contributed to the growth of the market. Looking forward, the market is projected to expand at a CAGR of  4.9% during 2022-2027.

Market Summary:

  • Based on the system type, the market has been segmented into water-based, oil-based, synthetic fluid-based and other systems.
  • On the basis of the well type, the market has been bifurcated into HPHT (High Pressure High Temperature) and conventional wells.
  • The market has been classified based on the application into onshore and offshore.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Indonesia, Australia and others), Europe (Germany, Italy, the United Kingdom, France, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined with some of the key players being Baker Hughes Company, CES Energy Solutions, Chevron Phillips Chemical, Drilling Fluids & Chemicals Limited, Halliburton Company, National Oilwell Varco, Inc., Newpark Resources Inc., Q'Max Solutions Inc., Sagemines, Schlumberger, Scomi Group Berhad, Secure Energy Services Inc., Tetra Technologies, Inc. and Weatherford International.


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Global Drilling and Completion Fluids Market to Expand at 4.9% During 2022-2027, Propelled by Rising Investments in Shale Gas Exploration
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More