Drilling Fluids Market Growth Driver ,Size and Share | Industry Technological Advancement Research Report Forecast to 2023

Drilling Fluids Market Highlights:-

Other factors defining the market landscape include resurged Oil & Gas industry; recent discoveries of oil reservoirs in some regions that have triggered the growth in the drilling projects, the high demand for crude oil, reserves and rising deep water production. Additionally, a renewed interest in shale gas extraction is likely to influence the growth of the global Drilling Fluids market positively.

Acknowledging the traction, the market perceives currently, projecting the growing market size, Market Research Future (MRFR), in its recently published study report asserts that the global Drilling Fluids market is expected to reach USD 13,454 Mn. by 2023 registering 7% CAGR during the review period (2017 – 2023).

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Top Key Players for Drilling Fluids Market:-

The key players of Global Load Bank Market report include- Northbridge (Crestchic), Coudoint S.A.S., Jovyatlas, MS Resistances, Metal Deploye Resistor, and Hillstone including other prominent players which are Astro Geo Marine, Inc., ESSEX ELECTRO, MCM Engineering, Inc., Aurora Generators, and CHROMALOX.

Drilling Fluids Market - Competitive Landscape

The competitive market of Drilling Fluids appears to be well-established and consolidated as far as eyes can see with handful players operating in the market. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.

Industry/ Innovation/ Related News:

January 02, 2018 – Halliburton released the Marine Sentry 3000, a rotating control device that provides a pressure control solution by creating a seal around the drillstring and tool joints for safer containment of fluids during conventional or controlled pressure drilling.

December 15, 2017 – Chevron Corp (US) a multinational energy corporation has formed partnership (preliminary agreement) with oil services firm Schlumberger NV (US) the world's largest oilfield services company to drill six wells in a Brazilian offshore field, in a bid to lift its output in the South American country after a 2011 oil spill there cut production.Six wells would be drilled in the Frade field in Brazil’s offshore Campos basin, and work should begin in early 2019. Drilling for the contract, worth about $20 million would be spread over 18 to 24 months.

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Global Drilling Fluids Market - Regional Analysis

Saudi Arabia and UAE, are the biggest oil and gas exporters in the middle east and are planning to expand their oil and gas production infrastructure further. Besides the well-established hydrocarbon reserves in the region along with the substantial investments made to explore potential new reserves will commutatively drive the market growth.

The Latin America market, on the other hand, is expected to register the highest as in 8.19% CAGR from 2017-2023. In Latin America, substantial oil and gas discoveries have taken place in the offshore regions of Rio de Janeiro, Perla Field in the Gulf of Venezuela and the Gulf of Mexico regions.

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