Drilling Fluids Market Size, Share & Trends Analysis Report by Product (Oil-based, Synthetic-based, Water-based), by Application (Onshore, Offshore), by Region, and Segment Forecasts, 2020

The global drilling fluids market size is projected to reach USD 11.1 billion by 2027. The market is projected to witness a moderate CAGR of 4.2% over the forecast period. Revival of new exploration and production projects on account of recovery in oil prices over the next few years is expected to drive the market growth over the forecast period.

Ongoing demand for advanced and better formulations for horizontal and directional drilling is expected to provide opportunity to market players. Moreover, the rise in demand for oil and gas has resulted in oil exploration companies exploring unconventional methods of oil extraction.

However, some European countries have established stringent norms for drilling fluids. This is because some drilling fluids, for instance, oil-based fluids, when discharged in water, can form piles of mud and cuttings that cover parts of the seabed which hinders aquatic life. These factors are expected to hinder the growth of the market over the forecast period.

Governments in various countries around the world such as U.S., Indonesia, China, and Australia are taking favorable initiatives to explore untapped oil resources. For instance, the Indonesian government provides favorable trade policies such as 0% import duty on imports of floating or submarine production facilities and drilling platforms, thereby driving the demand for unconventional drilling techniques. Moreover, reduced taxes are applicable over Foreign-owned Drilling Companies (FDCs) carrying out drilling activities in Indonesia, which is another factor driving the demand for drilling fluids.

Further key findings from the report suggest:

Onshore emerged as the leading application segment of the overall market in 2019 owing to the presence of a large number of onshore oil rigs as compared to offshore oil rigs
In 2019, North America dominated the global market due to the presence of favorable initiatives taken by the governments in U.S. and Canada for the exploration of oil and gas
Asia Pacific is expected to register the highest growth rate over the forecast period owing to a rise in oil exploration and production activities in countries such as China, Australia, Brunei, and Indonesia
The water-based fluids segment dominated the market in 2019 owing to factors such as increase in environmental concerns and cost-effectiveness of these fluids
Synthetic-based fluids is expected to register a significant growth rate over the forecast period owing to its low toxicity, low bioaccumulation potential, and lower fluid loss when compared to other variants
Major players in the drilling fluids market include Schlumberger, Baker Hughes, Halliburton, Weatherford International, and National Oilwell Varco. Market players focus on R&D activities and enhancing their product portfolio.

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Chapter 1 Methodology and Scope

1.1 Research methodology
1.2 Research scope & assumptions
1.3 List of Data Sources

Chapter 2 Executive Summary

Chapter 3 Market Variables, Trends, and Scope

3.1 Market segmentation
3.2 Market size and growth prospects
3.3 Drilling fluids value chain analysis
3.4 Raw material trends
3.5 Technological Landscape
3.6 Regulatory Scenario
3.7 Drilling fluids market dynamics
3.7.1 Market driver analysis
3.7.1.1 Rising global hydrocarbon E&P
3.7.1.2 Shift in trend toward developing unconventional resources
3.7.1.3 Increasing offshore production
3.7.2 Market restraint analysis
3.7.2.1 Crude oil price slump
3.7.2.2 Adverse environmental impact of OBF
3.8 Key opportunities - Prioritized
3.9 Industry analysis- Porter’s
3.10 Drilling fluids - PESTEL analysis

Chapter 4 Global Drilling Fluids: Product Outlook

4.1 Global drilling fluids market share by product
4.2 Drilling fluids market estimates and forecast by product, 2016 - 2027 (USD Million)
4.2.1 Oil based fluids (OBF)
4.2.1.1 Market estimates and forecast by region, 2016 - 2027 (USD Million)
4.2.2 Synthetic based fluids (SBF)
4.2.2.1 Market estimates and forecast by region, 2016 - 2027 (USD Million)
4.2.3 Water based fluids (WBF)
4.2.3.1 Market estimates and forecast by region, 2016 - 2027 (USD Million)
4.2.4 Others
4.2.4.1 Market estimates and forecast by region, 2016 - 2027 (USD Million)

Chapter 5 Drilling Fluids: Application Outlook

5.1 Drilling fluids market share by application
5.2 Drilling fluids market estimates and forecast by application, 2016 - 2027 (USD Million)
5.2.1 Onshore
5.2.1.1 Market estimates and forecast in onshore by region, 2016 - 2027 (USD Million)
5.2.2 Offshore
5.2.2.1 Market estimates and forecast in offshore by region, 2016 - 2027 (USD Million)

Chapter 6 Drilling Fluids: Regional Outlook

6.1 Drilling fluids market share by region
6.1.1 North America
6.1.1.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.1.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.1.3 U.S.
6.1.1.3.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.1.3.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.1.4 Canada
6.1.1.4.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.1.4.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.1.5 Mexico
6.1.1.5.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.1.5.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.2 Europe
6.1.2.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.2.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.2.3 U.K.
6.1.2.3.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.2.3.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.2.4 Russia
6.1.2.4.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.2.4.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.2.5 Norway
6.1.2.5.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.2.5.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.2.6 Azerbaijan
6.1.2.6.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.2.6.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.2.7 Kazakhstan
6.1.2.7.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.2.7.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3 Asia Pacific
6.1.3.1 market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.2 market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.3 China
6.1.3.3.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.3.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.4 India
6.1.3.4.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.4.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.5 Indonesia
6.1.3.5.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.5.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.6 Malaysia
6.1.3.6.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.6.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.7 Pakistan
6.1.3.7.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.7.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.8 Myanmar
6.1.3.8.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.8.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.9 Singapore
6.1.3.9.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.9.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.10 Australia
6.1.3.10.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.10.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.11 Vietnam
6.1.3.11.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.11.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.3.12 Thailand
6.1.3.12.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.3.12.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.4 Central & South America (CSA)
6.1.4.1 CSA drilling fluids market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.4.2 CSA drilling fluids market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.4.3 Brazil
6.1.4.3.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.4.3.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.4.4 Argentina
6.1.4.4.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.4.4.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.4.5 Venezuela
6.1.4.5.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.4.5.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.4.6 Columbia
6.1.4.6.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.4.6.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.4.7 Peru
6.1.4.7.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.4.7.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.5 Middle East
6.1.5.1 Middle East drilling fluids market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.5.2 Middle East drilling fluids market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.5.3 Saudi Arabia
6.1.5.3.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.5.3.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.5.4 UAE
6.1.5.4.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.5.4.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.5.5 Qatar
6.1.5.5.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.5.5.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.5.6 Kuwait
6.1.5.6.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.5.6.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.5.7 Iran
6.1.5.7.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.5.7.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.5.8 Iraq
6.1.5.8.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.5.8.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.6 Africa
6.1.6.1 Africa drilling fluids market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.6.2 Africa drilling fluids market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.6.3 Algeria
6.1.6.3.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.6.3.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.6.4 Libya
6.1.6.4.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.6.4.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.6.5 Nigeria
6.1.6.5.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.6.5.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.6.6 Gabon
6.1.6.6.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.6.6.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)
6.1.6.7 Zaire (Republic of Congo)
6.1.6.7.1 Market estimates and forecast by product, 2016 - 2027 (USD Million)
6.1.6.7.2 Market estimates and forecast by application, 2016 - 2027 (USD Million)

Chapter 7 Competitive Landscape

7.1 Vendor Landscape
7.2 Competitive environment
7.3 Strategy Framework

Chapter 8 Company Profiles

8.1 Baker Hughes, Inc.
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Product benchmarking
8.1.4 Strategic initiatives
8.2 Halliburton, Inc.
8.2.1 Company overview
8.2.2 Financial performance
8.2.3 Product benchmarking
8.2.4 Strategic initiatives
8.3 Weatherford International
8.3.1 Company overview
8.3.2 Financial performance
8.3.3 Product benchmarking
8.3.4 Strategic Initiatives
8.4 Schlumberger Limited
8.4.1 Company overview
8.4.2 Financial performance
8.4.3 Product benchmarking
8.4.4 Strategic initiatives
8.5 Newpark Resources, Inc.
8.5.1 Company overview
8.5.2 Financial performance
8.5.3 Product benchmarking
8.5.4 Strategic initiatives
8.6 Anchor Drilling Fluids USA, LLC
8.6.1 Company overview
8.6.2 Financial performance
8.6.3 Product benchmarking
8.6.4 Strategic initiatives
8.7 TETRA Technologies, Inc.
8.7.1 Company overview
8.7.2 Financial performance
8.7.3 Product benchmarking
8.7.4 Strategic initiatives
8.8 Petrochem Performance Chemicals Ltd. LLC
8.8.1 Company overview
8.8.2 Financial performance
8.8.3 Product benchmarking
8.9 Canadian Energy Services & Technology Corporation
8.9.1 Company overview
8.9.2 Financial performance
8.9.3 Product benchmarking
8.10 International Drilling Fluids and Engineering Services (IDEC) Ltd
8.10.1 Company overview
8.10.2 Financial performance
8.10.3 Product benchmarking
8.10.4 Strategic initiatives
8.11 China Oilfield Services Limited
8.11.1 Company overview
8.11.2 Financial performance
8.11.3 Product benchmarking
8.11.4 Strategic initiatives
8.12 Flotek Industries, Inc.
8.12.1 Company overview
8.12.2 Financial performance
8.12.3 Product benchmarking
8.12.4 Strategic initiatives
8.13 Global Drilling Fluids and Chemicals Limited
8.13.1 Company overview
8.13.2 Financial performance
8.13.3 Product benchmarking
8.14 National Oilwell Varco (NOV)
8.14.1 Company overview
8.14.2 Financial performance
8.14.3 Product benchmarking
8.14.4 Strategic initiatives
8.15 Scomi Group Bhd
8.15.1 Company overview
8.15.2 Financial performance
8.15.3 Product benchmarking
8.15.4 Strategic initiatives
8.16 Catalyst LLC
8.16.1 Company overview
8.16.2 Financial performance
8.16.3 Product benchmarking
8.16.4 Strategic initiatives