Press release
Offshore Drilling Fluid Market is Expected to Grow at a CAGR of 5.51 % within the forecast period of 2023-2030: Cognitive Market Research
Offshore Drilling Fluid Market is Expected to Grow at a CAGR of 5.51 % within the forecast period of 2023-2030: Cognitive Market R
Offshore drilling fluids known as drilling mud, play a crucial role in oil & gas extraction. The drilling fluids offer lubrication in the drilling operations, which is used for removing cuttings, cooling drilling tools, maintaining consistency, and regulating pressure. In addition, these are used for removing and preventing complexities and damage
Summary:
• The Offshore Drilling Fluid Market Size Was Valued at USD 3.41 Billion In 2022 And Is Expected to Grow at A CAGR Of 5.51 % During the Forecast Period, Reaching USD 4.76 Billion By 2030
• The Global Nurse Call System Market is Estimated to be valued at USD 1,978.1 million in 2022 and is expected to exhibit a CAGR of 8.9% during the forecast period 2023-2030
• North America dominates the nurse call systems market with the highest revenue share
• Based on service model the nurse call buttons are anticipated to drive the demand for the global nurse call system market.
• By type, Wireless communication equipment segment is expected to witness highest growth in the global market
"To know more The Offshore Drilling Fluid Market statistics click here:
https://www.cognitivemarketresearch.com/offshore-drilling-fluids-market-report
Market Dynamics
Increasing demand for crude oil and natural gas in energy-extensive industries such as manufacturing, power generation, and transportation is expected to drive the growth of the offshore drilling fluid market. In addition, increasing government expenditure for the development of the oil & gas industry is the key factor expected to drive the growth of the offshore drilling fluid market. Furthermore, increasing exploration activities across the world create growth opportunities for the global offshore drilling fluid market. However, increasing the cost of drilling may hamper the growth of the offshore drilling fluid market.
Market Segmentation
By Type:
• Oil-Based Fluids
• Water-Based Fluids
• Synthetic-Based Fluids
• Others
Based on type, the oil-based fluid segment has the largest revenue share in the offshore drilling fluid market. This is due to the increasing demand for lesser corrosion of drilling tools, and higher thermal stability projected to drive the growth of the oil-based fluid segment.
By Applications:
• Oil and Gas Extraction
• Maintain Wellbore Stability
• Mineral Extraction
• Others
Based on applications, the oil and gas extraction segment has the largest revenue share in the offshore drilling fluid market. This is attributed oil and gas extraction industry generating wastewater from the geological formations and from chemicals used during exploration, well drilling, and production of oil and gas. This is expected to drive the growth of the offshore drilling fluid segment.
By End-user industry:
• Oil and Gas
• Energy Industry
• Others
Based on the end-user industry, the oil and gas segment has the largest revenue share in the offshore drilling fluid market. This is due to increasing investment to boost the oil and gas industry's economy and rising production projected to drive the growth of the oil and gas segment.
The Major Players in The Offshore Drilling Fluid Market Market Are:
Halliburton, Schlumberger, Baker Hughes, Newpark, Tetra Tech, China Oilfield, Weatherford International, Anchor Drilling Fluids USA, Canadian Energy Services
Get free sample pages of latest published The Offshore Drilling Fluid Market Report 2023:
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Regional Analysis:
North America accounted for the largest share of the offshore drilling fluid market
North America has the largest revenue share in the offshore drilling fluid market, due to increasing activities in the oil & gas industry and the demand for primary energy anticipated to drive the growth of the offshore drilling fluid market in the region.
News:
NOV has launched Falcon reamer to combat challenging MENA drilling operations
In February 2021, National Oilwell Varco has launched a falcon reamer for drilling operations in the Middle East & North Africa. NOV streamlined design of falcon reamer delivers high quality great operational efficiency and provides high-quality wellbores.
Newpark Resources Inc. has introduced its new stimulation and completion fluid Kronos at the Offshore Technology Conference
In march 2019, Newpark Resources Inc. introduced its new stimulation and completion fluid Kronos at the Offshore Technology Conference (OTC). Kronos is a synthetic-based invert emulsion system designed to comply with the environmental requirements for non-aqueous fluids for use in deepwater drilling applications. Kronos offers thermal stability and excellent environmental performance.
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Offshore Drilling Fluids Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Segmentation
1.5.1 Regional Fragmentation
1.5.1 Market Players
• 1.6 Report Duration
Chapter 2 Research Methodology
Chapter 3 Executive Summary
• 3.1 Global Offshore Drilling Fluids Market Size 2018 - 2030, (USD Million)
• 3.2 Global Offshore Drilling Fluids Market: Snapshot
Chapter 4 Global Offshore Drilling Fluids Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Offshore Drilling Fluids Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Offshore Drilling Fluids Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Offshore Drilling Fluids Market Regional Analysis
Chapter 11 North America Offshore Drilling Fluids Market Outlook (2018 - 2030)
Chapter 12 Europe Offshore Drilling Fluids Market Outlook (2018 - 2030)
Chapter 13 Asia Pacific Offshore Drilling Fluids Market Outlook (2018 - 2030)
Chapter 14 Latin America Offshore Drilling Fluids Market Outlook (2018 - 2030)
Chapter 15 Middle East and Africa Offshore Drilling Fluids Market Outlook (2018 - 2030)
Chapter 16 Research Findings
Browse here for Full TOC:
https://www.cognitivemarketresearch.com/offshore-drilling-fluids-market-report#table_of_contents
Related Report:
Drilling Fluid Market:
https://www.cognitivemarketresearch.com/drilling-fluid-market-report
Oil Based Drilling Fluids Market:
https://www.cognitivemarketresearch.com/oil-based-drilling-fluids-market-report
Synthetic based Drilling Fluid Market:
https://www.cognitivemarketresearch.com/synthetic-based-drilling-fluid-market-report
Water Based Antisloughing Drilling Fluids Market:
https://www.cognitivemarketresearch.com/water-based-antisloughing-drilling-fluids-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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