Drilling chemicals are also called drilling muds which are heavy, viscous fluid mixture that is used in oil and gas drilling operations to carry rock cuttings to the surface and also to lubricate and cool the drill bit. Drilling chemicals find application in simpler bore holes such as water wells and metal and mineral extraction. Depending on the application, drilling chemicals are classified into onshore and offshore chemicals. Therefore, increasing demand for drilling chemicals is expected to boost the drilling chemicals market growth over the forecast period.
Market Dynamics
Among applications, the onshore drilling segment is expected to witness a significant market share in the global drilling chemicals market. In 2021, the segment accounted for around 70.0% share of the global drilling chemicals market in terms of revenue. The onshore oil and natural gas industry continue to evolve, developing best practices and improving well designs. This evolution resulted in reduced drilling and completion times, lower total well costs, and increased well performance.
Asia Pacific is expected to emerge as one of the potential areas for investment by the end of 2031. This is owing to the significant growth of the oil and gas industry in India and China. According to India Brand Equity Foundation, the oil and natural gas industry in India is expected to attract US$ 25 billion investment in exploration and production projects by 2022.
Key features of the study:
- This report provides in-depth analysis of drilling chemicals market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR%) for the forecast period (2024 – 2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
- It profiles key players in the global drilling chemicals market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study include Anchor Drilling Fluids Inc., MB Holding Company LLC, Tetra Technologies Inc., International Drilling Fluids and Engineering Services (Idec) Ltd., Canadian Energy Services Inc., Weatherford International Ltd., Global Fluids & Chemical Co., Baker Hughes, Newpark Drilling Fluids LLC., Diamoco Group, M-I SWACO, Schlumberger, Oren Hydrocarbons, and Halliburton
- Insights from this report would allow marketers and the management authorities of the companies to make an informed decision regarding their future products launches, technology up-gradation, market expansion, and marketing tactics
- The global drilling chemicals market report caters to various stakeholders in this industry including investors, suppliers, drilling chemicals manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the drilling chemicals market
Detailed Segmentation:
- By Chemicals:
- Dispersants & Deflocculants
- Clean Up Chemicals
- Shale Stabilizers
- Drilling Mud Defoamers and Foaming Agents
- Drilling Mud Lubricants
- Drilling Mud Surfactants
- Spotting Fluids
- Fluid Loss Control Additives
- Loss Circulation Material
- Emulsifiers for Water-based and Oil-based Systems
- Drilling Polymers
- Weight Materials
- Corrosion Inhibitor
- Scavengers & Biocides
- Viscosifiers
- Adhesives & Sealants
- Commercial Chemicals
- By Fluid Type:
- Oil-based Fluids
- Water-based Fluids
- Synthetic-based Drilling Fluids
- Pneumatic Drilling fluids
- By Application:
- Onshore Drilling
- Offshore Drilling
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles
- Anchor Drilling Fluids Inc.
- MB Holding Company LLC
- Tetra Technologies Inc.
- International Drilling Fluids and Engineering Services (Idec) Ltd.
- Canadian Energy Services Inc.
- Weatherford International Ltd.
- Global Fluids & Chemical Co.
- Baker Hughes
- Newpark Drilling Fluids LLC
- Diamoco Group
- M-I SWACO
- Schlumberger
- Oren Hydrocarbons
- Halliburton
