Drilling Fluids Market Estimated to Reach US$ 11,121.1 Mn by 2026
According to a 2018 report by Oil & Gas Authority in UK, well abandonment activity has increased four-fold since 2016. This has resulted in massive P &A costs to the industry. In 2016, nearly 402 million pounds were spent on the abandonment of 76 wells. Moreover, 33 million barrels a day more can help the UK meet its energy needs which is not being fulfilled. This is a tremendous opportunity on the horizon for players in the drilling fluids market.
Request A Sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1292
Increasing Oil Exploration Activity to Drive Growth
Rising oil prices, and constant drive to reduce reliance on oil imports are expected to drive growth of the drilling fluids market. Many emerging countries like India are undertaking increased oil and gas exploration activity to meet demand. India, the third largest importer of oil has announced a decision to undertake exploration of 200,000 sq.km. Earlier, the area was set to 700,000 sq.km. However, declining oil output in the country and projected demand for oil which is expected to triple by 2035 is expected to drive considerable oil and gas exploration activity. Moreover, the country has taken several key initiatives like opening up of 100% FDI in oil exploration activity. The growing demand for oil in major economies like the US, China, and India are expected to drive significant growth for the drilling fluids market in the near future.
More Trending Reports by Transparency Market Research - http://www.prnewswire.com/news-releases/digital-pollution-to-propel-demand-for-anti-ageing-products-driving-growth-in-glycolic-acid-market-tmr-301022176.html
Water-Based Fluids Promise Robust Opportunity for Growth
Drilling fluids also known as mud can be toxic in varying degrees. It can also be difficult to dispose of in sustainable manner. Moreover, in emerging countries, wells are often unregulated which limits experimentation and innovation conversely. Additionally, water based drilling fluids have already proven effective in replacing the toxicity of conventional chemicals. Even toxic-based water chemicals like hydrochloric acid can be become more soluble when mixed with other water based drilling fluids. Additionally, fluids like bentonite and barite have been used in the mining industry effectively earlier. There are many other water-based fluids like soda ash, anhydrous lime, and caustic which have quickly gained popularity in end-applications. The growing regulations in emerging nations, and growing demand for water-based fluids are expected to drive growth of the drilling fluids market in the near future.
Request for covid19 Impact Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=1292
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Drilling Fluids Market Estimated to Reach US$ 11,121.1 Mn by 2026 here
News-ID: 2402531 • Views: 171
More Releases from Transparency Market Research
Social CRM Market to Rear Excessive Growth During 2020-2030
Social CRM Market: Introduction The social CRM market focuses on capturing the needs of consumers and generates value for them. Social customer relationship management (CRM) provides critical analysis about the market. It enables businesses to build customer relationships and improve their brand presence. The solution helps companies to monitor and analyze their reputation in the market with various keywords such as brand name and company name. Obtain Report Details @
Video Ad Insertion Platform Market: Size Industry Status Growth Opportunity For …
Video ad Insertion Platform Market – Introduction Video ad insertion platform IT enables marketers to serve different advertisements to each viewer based on consumer insights and ad campaign results. Increasing demand for OTT platforms, technological advances, and an increase in the number of internet users are all boosting the video ad insertion platform industry. Furthermore, the 6-second ad is gaining attention on various social media sites. According to new research from
Smart Luggage Market: Analysis, Strategic Assessment, Trend Outlook And Business …
Smart Luggage Market: Introduction Smart luggage are bags with remote lock systems, GPS locator, USB ports for charging the device, remote or app enabled controls, Wi-Fi or Bluetooth connectivity, and solar powered batteries. Smart luggage have anti-theft protection, which provides the user with an alarm or notification when the luggage gets disconnected or is moved out of range. Smart luggage are not only technological advanced but also have a stylish look,
Storage Resource Management Tool Market: Future Growth And Forecast With Signifi …
Global Storage Resource Management Tool Market: Introduction A storage resource management tool enables real-time and historical information for storage infrastructure with regards to capacity and performance, problem determination, device management, and configuration planning and change management. It helps the storage administrator to automate data backup, data recovery, and SAN performance analysis. The tool helps in visualizing relationships and topologies from application to storage array, analyzing health, configurations and capacity growth, and
More Releases for Oil
Base Oil Market
Base Oil Market Size Worth $ 48,347.04 Million By 2026 | CAGR: 1.2% The global Base Oil market size is expected to reach USD 48,347.04 million by 2026 according to a new study by WhipSmart MI Research. The report “Base Oil Market by Type (Group I, Group II, Group III, Group IV and Group V), by Application (Automotive Oil, Industrial Oil, Metalworking Fluid, Greases, Hydraulic Oil and Others) and By Regions,
Oil Refining Pumps Market |
The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand. The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela. The demand for
Oil Sands - Thematic Research
Oil Sands - Thematic Research Summary Oil sands, an unconventional hydrocarbon resource, holds vast growth potential for crude oil production amid declining output from maturing conventional fields and slowing pace of new discoveries. The oil sands deposits in Alberta, which are among the world's largest hydrocarbon reserves, are playing an influential role in driving the oil and gas industry in Canada. Despite facing severe backlash from environmentalists around the world, there has
Gingelly oil Market
https://www.qandqmarketresearch.com/reports/7431261/gingelly-oil-market-48 The global Gingelly oil market is valued at million US$ in 2018 is expected to reach million US$ by the end of 2025, growing at a CAGR of during 20192025. This report focuses on Gingelly oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Gingelly oil market size by analyzing historical data and future prospect. Regionally, this report focuses on
Oil & Gas Explosion Lawyer
Concerns about gas and oil explosions and worker safety have been at the forefront of Oklahoma state officials’ minds as they continue to investigate a recent Pittsburg County explosion that left five workers dead and 17 with minor injuries. The explosion has shaken a state that is heavily invested in the fuel industry and has been said to be the worst incident of its kind since the Deepwater Horizon tragedy. Oklahoma
Global Base Oil Market 2016: by Application - Automotive Oil, Industrial Oil, Me …
Base oil is the name given to lubrication grade oils initially produced from refining crude oil (mineral base oil) or through chemical synthesis (synthetic base oil). Base oil have a high boiling point ranging between 550F to 1050F. Base oil can be either paraffinic or naphthenic in nature depending on the chemical structure of the molecules. Go For Sample Report @ http://bit.ly/2bSaaNb Increasing usage of automotive oil for various lubricating applications in