Drilling Fluids Market - Forecasts from 2025 to 2030

The drilling fluids market is expected to grow from USD 9.977 billion in 2025 to USD 12.547 billion in 2030, at a CAGR of 4.69%. The expansion is attributed to the growing demand from major end-users of oil & gas, such as transportation and power plants, which is propelling global oil & gas drilling activities in major countries.

Moreover, new possibilities for the drilling fluids market are anticipated to arise due to the growing worries about handling solid wastes, spill containment, and collapsing boreholes during the forecast period. Over the forecast period, the drilling fluid market is anticipated to experience significant expansion owing to the expanding offshore industry, particularly in the Persian Gulf.

Drilling Fluids Market Growth Drivers

Increasing Energy Consumption

The rise in population and industrialization activity has resulted in increased daily energy usage. It has been determined that around 84% of the world's energy comes from fossil fuels, as per the Environmental and Energy Study Institute. As a result, there has been a rise in the extraction of oil, gas, and other fossil fuels. Drilling fluid use is on the rise globally due to increased expenditure in offshore oil and gas exploration and production. Further, according to the IEA 2021 study, by 2040, there will be a 31% increase in global demand for natural gas, which will account for 17% of all energy consumed globally. By 2040, crude oil would likely see an increase in demand of 21%, accounting for 35% of all energy use.

Increasing Investment

The market is experiencing a lot of changes due to rising investments by the government and key market players. For instance, Exxon Mobil Corporation announced plans to invest USD 20 billion by 2022 in expanding its oil refinery on the U.S. Gulf Coast, which might help meet the region's future need for drilling fluids. In addition, measures to develop the oil and gas industry in developing nations are anticipated to promote the expansion of the drilling fluids market. Additionally, the Indian government has approved 100% foreign direct investment in upstream and private refining plants. Furthermore, it is predicted that a great demand for drilling will be created during the estimated period by hurried investments in oil and gas exploration activities in Mexico, drilling, and production accomplishments.

Drilling Fluids Market Geographical Outlook

North America is Expected to Grow Considerably

The United States is expected to hold a substantial share of the market owing to its robust drilling activities, which are contributing towards the increasing demand during the forecast period. With the growth in this production, the utilization of drilling fluids is also increasing, which is anticipated to fuel the market. West Texas and Southeast New Mexico have been included in the basin. The Permian Basin spans West Texas and Southeast New Mexico, being about 250 miles broad and 300 miles long. The Delaware Basin and Midland Basin are only two of the basin's many sub-basins.

Market Segmentation:

• By Fluid Type
  • Water-Based
  • Oil-Based
  • Synthetic-Based
  • Other Fluid Types
• By Well Type
  • Horizontal Wells
  • Vertical Wells
  • Directional Wells
• By Application
  • Onshore
  • Offshore
• By Geography
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa