Polycrystalline diamond compact (PDC) bits are used in the drilling tools. These bits are necessary tools for carrying out drilling operations primarily in the oil and gas industry, where PDC bit drills cylindrical boreholes for assembling crude oil and gas. Moreover, these bits are less expensive than roller cone bits, and hence, it lessen the total cost of drilling, owing to higher rotary speed that allows enhanced drill rates while reducing the deviation. Artificial diamond cutters are used for manufacturing of PDC bits as diamond is the hardest material due to its superior properties. Furthermore, PDC is a key component for drilling as it combines inexpensive, man-made, tiny diamonds into large masses of erratically oriented crystals.
Market Dynamics
Polycrystalline diamond compact (PDC) drill bits is one of the most significant advancements in drilling tools in recent years. With high rate of penetration (ROP) potential, these bits have revolutionized the oil and gas drilling industry. These drill bits are typically made with synthetic diamond cutters in either a matrix body or a steel body material. Polycrystalline diamond compact cutter is used in the formation of diamond tables that are a part of the cutter. PDC diamond tables are hard, and possess a broad spectrum of characteristic for bit cutters. Moreover, rising performance and increasing production of shale gas are expected fuel the global polycrystalline diamond compact cutter market growth during the forecast period. However, ecological risks and stringent government policies for hydrocarbon- based fuel sources are hindering the global polycrystalline diamond compact cutter market growth. Matrix body drill bits offer numerous advantages including longer life, high volume of fluid, and multiple runs. This tool also offers superior structural strength along with resistance to erosion, wear and tear. Demand for matrix body PDC drill bits will increase the the need of advanced and efficient drilling technologies in near future.
Key features of the study:
- This report provides an in-depth analysis of the global polycrystalline diamond compact cutter market, its market size (US$ Mn), and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
- It elucidates potential revenue opportunity across different segments and explains an attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new material type launches or approvals, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global polycrystalline diamond compact cutter 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 Atlas Copco, Baker Hughes Company, Best bits, Bit Brokers International Ltd, Blast Hole Bit Company, LLC, Burintekh, C&H Bit Co, Cangzhou Great Drill Bits Co., Ltd., East West Machinery & Drilling, Epiroc AB, Halliburton, Hejian Longyue Drill Bit Manufacture Co.,Ltd, Hejian Ruida Petroleum Material Co., Hunan Drillmaster Engineering Technology Co., Ltd., NOV Inc., Palmer Bit Co, Rockpecker Limited, Schlumberger, Ulterra, Varel.
- Insights from this report would allow marketers and management authorities of companies to make an informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
- Global polycrystalline diamond compact cutter market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global polycrystalline diamond compact cutter market
Detailed Segmentation:
- Global Polycrystalline Diamond Compact Cutter Market, By Type
- Global Polycrystalline Diamond Compact Cutter Market, By Application
- Onshore Drilling
- Offshore Drilling
- Global Polycrystalline Diamond Compact Cutter Market, By Size
- Less than 8mm
- 9mm to 16mm
- 17mm to 25mm
- 26mm to 50mm
- More than 50mm
- Global Polycrystalline Diamond Compact Cutter Market, By Technology
- Rolling Cutting Technology
- Leaching Technology
- Shaped Cutter Technology
- Others (PDC Conical Buttons, etc.)
- Global Polycrystalline Diamond Compact Cutter Market, By Region:
- North America
- Europe
- By Country:
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country:
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- Latin America
- By Country:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Company Profiles
- Atlas Copco*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Baker Hughes Company
- Best bits
- Bit Brokers International Ltd
- Blast Hole Bit Company, LLC
- Burintekh
- C&H Bit Co
- Cangzhou Great Drill Bits Co., Ltd.
- East West Machinery & Drilling
- Epiroc AB
- Halliburton
- Hejian Longyue Drill Bit Manufacture Co.,Ltd
- Hejian Ruida Petroleum Material Co.
- Hunan Drillmaster Engineering Technology Co., Ltd.
- NOV Inc.
- Palmer Bit Co
- Rockpecker Limited
- Schlumberger
- Ulterra
- Varel
“*” marked represents similar segmentation in other categories in the respective section.
