DRILLING CHEMICALS MARKET ANALYSIS

Drilling Chemicals Market, 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, and Commercial Chemicals), By Fluid Type (Oil-based Fluids (OBF), Water-based Fluids, Synthetic-Based Drilling Fluids, and Pneumatic Drilling Fluids), By Application (Onshore Drilling and Offshore Drilling), and By Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa)

Published In : May 2024
Code : CMI334
Pages :150
Formats :
Excel and PDF
Industry : Specialty and Fine Chemicals

Drilling Chemicals MarketSize and Trends

Market Size and Trends:

The Drilling Chemicals market is estimated to be valued at USD 14,140.5 Mn in 2024 and is expected to reach USD 20,844.4 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.7 % from 2024 to 2031.

Drilling chemicals are majorly used in processes such as oil & gas exploration, metal & mineral extraction, coal seam gas drilling, and bore well drilling. Drilling chemicals are useful in terms of cooling and lubrication of drilling equipment, maintaining the pressure, removing cuttings from bore wells, and providing support and stabilizing the bore well area. Drilling chemicals are widely used to aid in drilling boreholes into the earth’s crust.

Severe environmental conditions such as desert topography, extreme high and low temperatures, and dry environment necessitate the deployment of various types of drilling chemicals either as a cooling agent or as a lubricant for oil field drilling processes. Among applications, the onshore drilling segment holds a dominant position in the market.

Market Trends

Chemicals with lower exposure toxicity, reduced flammability or flashpoint, greater biodegradability, lower bioaccumulation, and sustainability in both application and production are examples of green solutions in the chemicals fields.