|04-16-2018 03:49 PM CET - Business, Economy, Finances, Banking & Insurance||
Fluid Loss Control Additives Market to Gain a Stronghold by 2025
Press release from: Persistence Market Research Pvt. Ltd
Drilling operations are increasingly getting deeper, chemically harsher, hotter and more expensive. As a result, operators need effective and proven technology to work in such harsh mud systems. The loss of liquid to reservoir formation carries a high risk of permeability damage. In order to solve these problems, fluid loss control additives are utilized. Fluid loss control additives are primarily used to maintain a constant fluid volume within a slurry of cement to ensure that the performance properties of slurry remain within an acceptable range. Fluid loss control additives are customized for specific applications and these custom formulations assist operators maintain wellbore stability and overall drilling efficiency while minimizing HSE footprint.
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Various types of additives are available in the market for fluid loss. Recently, the American Petroleum Institute studied grapheme oxide as an additive and it performed well as a filtration additive in water-based drilling fluids at low concentrations. Attributing to environmental demands in the oil and gas industry to prevent the destruction of coastal habitat and marine resources, environment friendly fluid loss control additives have become a necessity. Fluid loss control additives are available in various special grades, including LGT, MGT and HGT. These additives have low solubility in hydrocarbons and minimum plastic flow in all grades, they also impart excellent filtrate control in oil based drilling fluid systems.
Environmental safety concerns and pertaining regulations are contributing to the increase in demand from the oil & gas drilling industry. The petroleum industry is encouraging research on drilling fluid sand additives, such as non-toxic viscosity reducers and fluid loss control additives. These factors are expected to boost demand and drive the global fluid loss control additives market over the forecast period. Further, surging oil & gas drilling activities, supported by the increasing demand for end-products and rising investments in the oil & gas projects, are also slated to push the demand for fluid loss control additives over the forecast period.
Environmental regulations encourages the utilization of water based fluids and its application in areas where the oil based drilling fluids have been utilized owing to the certain challenges.
Preventing the destruction of aquatic bodies, such as coastal areas, fishes and oceans, with the introduction of environmental and user friendly fluid loss control additives in water-based muds for oil & gas drilling operations is one of the key trends identified in the global fluid loss control additives market.
On the basis of geography, the fluid loss control additives market is dominated by Middle East & Africa and North America regions, owing to the availability of significant oil reserves in countries, such as Canada, Kuwait, Saudi Arabia and Iran. Asia Pacific and Europe are expected to exhibit moderate growth in the global fluid loss control additives market over the next decade. Latin America is also expected to register moderate growth in the market over the forecast period.
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Examples of some of the market participants identified across the value chain of the global fluid loss control additives market include Schlumberger Limited, BASF SE, Halliburton, Newpark Resources Inc., Sepcor, Inc., Kemira, Tytan Organics, Aubin Group and Global Drilling Fluids & Chemicals Limited.
Key manufacturers of fluid loss control additives are found to be involved in research & development activities in order to enhance their market presence across the globe. The global fluid loss control additives market is one of the most consolidated markets as there are a small number of players involved in the manufacturing of additives.
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This release was published on openPR.
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