Spacer Fluid Market to Witness Robust Expansion throughout the Forecast Period 2021 - 2030

Spacer fluids are used to separate drilling fluids and cementing slurries by preparing both pipe and formation for cementing operations. Spacer comprises water (as base fluid), a heavyweight additive, and a spacer blend package (contains rheological modifiers). The spacer fluid system includes a viscosifier, wetting agent, surfactant package, and carrier fluid, typically water. The surfactant package's main purpose is to change the formation surface from oily to moist, hence increasing cement bonding.

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Oil and gas businesses are rapidly investing in exploration and production (E&P) activities in order to boost their revenue. The key factor motivating oil and gas businesses to deploy new drilling rigs is the rebound of crude oil prices. The demand for spacer fluids will rise as the number of operating rigs in various countries grows. Thus, the increasing active rig count is expected to fuel the expansion of the spacer fluids market.

The major factors driving the growth of the global oil well spacer fluids market are the increasing investments in the exploration & production of oil and gas as well as the significant growth of the oil & gas industry in developing countries. Moreover, technological advancements in well cementing are also expected to contribute to the growth of the spacer fluids market trends.

The global spacer fluid market analysis has been done on the basis of type, application, and region.

Based on application, the spacer fluid market is divided into onshore and offshore. In 2020, onshore applications held the largest share of the market. Better oil and gas drilling will raise the demand for onshore applications.

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By type, the oil-based drilling fluid environment segment is expected to witness robust growth. The need for oil well spacer fluids will rise as the number of operational rigs in the Middle East, Russia, Europe, and Africa increases.

The spacer fluid market has held a notable share in North America. The U.S., Canada, and Mexico are the largest producers of oil and gas in North America. Governments of many countries in the region are taking initiatives to increase oil and gas production to ensure energy security.

The major companies profiled in this report include AubinGroup, Baker Hughes Incorporated, BASF SE, Chevron Phillips Chemical Company, Croda International PLC, Halliburton, Impact Fluid Solutions, M&DIndustries of LA Inc., Schlumberger Limited, and Trican Well Service Ltd.

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Key findings of the study

• The North American spacer fluid market is projected to grow at the highest CAGR of nearly 5.1%, in terms of revenue, during the spacer fluid market forecast period.
• By application, the onshore segment accounted for the largest spacer fluid market share in 2020.
• On the basis of type, the oil-based drilling fluid environment segment garnered the largest market share in 2020.

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