The global drilling fluids market is driven by the recovering oil price and an increase in the frequency of drilling operations in the key regions. The global drilling fluids market reached a value of almost USD 9.7 billion in 2019. The drilling fluids industry is further expected to grow at a CAGR of 2.5% between 2020 and 2025 to reach a value of almost USD 11.3 billion by 2025.
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The global drilling fluids market is supported by an increase in the demand from North America, due to resuming production of shale wells in the forecast period. North America and the Middle East are the high maturity markets in the industry, whereas the Asia Pacific and Latin America are the medium maturity markets for the same. The largest consumers of drilling fluids regionally are the United States and the Asia Pacific. The United States contributes to 42% of the global supply. It continues to be the largest consumer in the industry due to the continued activity of drilling and extraction from shale or tight formation. The demand for drilling fluid in Australia is expected to increase due to the stabilising oil and gas prices as the country has one of the largest shale gas reserves in the world.
Fluctuations in crude oil prices affect the prices of drilling fluid adversely. Rig count also determines the price of drilling fluids. The demand for drilling fluids from Australia is increasing due to an increased rig count in the past few years, led by explorations taking place in the industry.
Properties and Applications
Drilling fluids are chemical components used in the extraction of gas and oil. Based on chemicals, the drilling fluids industry is segmented into:
The report also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The global drilling fluids market is driven by the growing number of drilling operations and recovering oil prices. In the Asia Pacific, India and Australia have witnessed continued performance of drilling operations despite having low crude prices. Future demand for drilling fluids is expected to rise, propelling the industry further. The drilling fluids help in eliminating cutting from the formation, along with smooth drilling operation and completion. The drilling fluids market size runs parallel to the drilling operations across the region.
The industry for bentonite is expected to increase owing to the increase in the foundry and metal casting application in the automotive and oil and gas industry, invigorating the industry growth for bentonite. The industry is also expected to be encouraged by the increasing environmental concerns associated with wastewater treatment due to high toxic content and radioactive chemicals.
The supply of barite, on the other hand, highly corresponds to the oil and gas prices, as the use of barite in drilling fluids represents the single largest consuming industry. The demand for barite is expected to increase due to the improvement in oil prices and shale gas drilling in the United States. China has set out to achieve the production of 30 billion cubic metres of gas by drilling more shale gas wells by the year 2020, which will increase the domestic consumption and decrease the availability of barite for exports.
Xanthan gum helps in reducing water viscosity in various applications. The demand for xanthan gum is expected to increase due to its usage in the food and oil and gas industries, providing impetus to the industry growth. The xanthan gum demand is expected to remain rapid due to the supportive European and the United States administrations, encouraging the use of the chemical in the form of stabiliser, emulsifier, thickener, and gelling agent.
The production of caustic potash is expected to continue to increase in the United States, as it offers lower energy costs than the other western regions. The utilisation rate is expected to increase in the United States, further boosting the supply in the region. In the forecast period, few capacity additions are predicted for caustic potash, especially in the Asia Pacific region, keeping the export market in focus.
The report gives a detailed analysis of the following key players in the global drilling fluids market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Drilling Fluids Market Analysis
6.1 Figure: Global Drilling Fluids Historical Market (2015-2019) & Forecast (2020-2025)
6.2 Chart: Global Drilling Fluids Market Breakup by Type of Chemicals
6.2.3 Xanthan Gum
6.2.4 Potassium Chloride
6.2.5 Caustic Soda
6.2.6 Soda Ash
6.3 Chart: Global Drilling Fluids Market Breakup by Region
6.3.1 North America
18.104.22.168 United State of America
22.214.171.124 United Kingdom
6.3.3 Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
6.4 Figure: Global Drilling Fluids Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
6.4.1 North America
220.127.116.11 United State of America
18.104.22.168 United Kingdom
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
6.5 Global Bentonite Market Analysis
6.5.1 Figure: Global Bentonite Historical Market (2015-2019) & Forecast (2020-2025)
6.5.2 Chart: Global Bentonite Market Breakup by Applications
184.108.40.206 Foundry Sands
220.127.116.11 Pet Products
18.104.22.168 Iron Ore Pelletizing
22.214.171.124 Drilling Mud
6.5.3 Chart: Global Bentonite Market Breakup by Region
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
220.127.116.11 Middle East and Africa
6.6 Global Barite Market Analysis
6.6.1 Figure: Global Barite Historical Market (2015-2019) & Forecast (2020-2025)
6.6.2 Chart: Global Barite Market Breakup by Applications
18.104.22.168 Drilling fluid
22.214.171.124 Rubber & Plastics
6.6.3 Chart: Global Barite Market Breakup by Region
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
220.127.116.11 Middle East and Africa
6.7 Global Xanthan Gum Market Analysis
6.7.1 Figure: Global Xanthan Gum Historical Market (2015-2019) & Forecast (2020-2025)
6.7.2 Chart: Global Xanthan Gum Market Breakup by Applications
18.104.22.168 Food & Beverages
22.214.171.124 Oil & Gas
6.7.3 Chart: Global Xanthan Gum Market Breakup by Region
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
220.127.116.11 Middle East and Africa
6.8 Global Potassium Chloride Market Analysis
6.8.1 Figure: Global Potassium Chloride Historical Market (2015-2019) & Forecast (2020-2025)
6.8.2 Chart: Global Potassium Chloride Market Breakup by Applications
6.8.3 Chart: Global Potassium Chloride Market Breakup by Region
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 Latin America
188.8.131.52 Middle East and Africa
6.9 Global Caustic Soda Market Analysis
6.9.1 Figure: Global Caustic Soda Historical Market (2015-2019) & Forecast (2020-2025)
6.9.2 Chart: Global Caustic Soda Market Breakup by Applications
184.108.40.206 Soap, Detergent and Textiles
220.127.116.11 Pulp and Paper
18.104.22.168 Water Treatment
6.9.3 Chart: Global Caustic Soda Market Breakup by Region
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Latin America
184.108.40.206 Middle East and Africa
6.10 Global Soda Ash Market Analysis
6.10.1 Figure: Global Soda Ash Historical Market (2015-2019) & Forecast (2020-2025)
6.10.2 Chart: Global Soda Ash Market Breakup by Applications
220.127.116.11 Flat Glass
18.104.22.168 Container Glass
22.214.171.124 Other Glass
126.96.36.199 Soaps and Detergents
188.8.131.52 Oil and Gas
6.10.3 Chart: Global Soda Ash Market Breakup by Region
184.108.40.206 North America
220.127.116.11 Asia Pacific
18.104.22.168 Latin America
22.214.171.124 Middle East and Africa
7 Global Drilling Fluids Price Analysis
7.1 Bentonite Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.2 Barite Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.3 Xanthan Gum Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.4 Potassium Chloride Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.5 Caustic Soda Historical Price Trends (2015-2019) and Forecast (2020-2025)
7.6 Soda Ash Historical Price Trends (2015-2019) and Forecast (2020-2025)
8 Global Trade Data Analysis (281511, 251110, 250810, 310420, 283620)
8.1 Major Exporting Countries: By Value and Volume
8.2 Major Importing Countries: By Value and Volume
9 SWOT Analysis
10 Porter’s Five Forces Analysis
10.2 Buyer’s Power
10.3 Supplier’s Power
10.4 New Entrants
10.5 Degree of Rivalry
11 EMR’s Key Indicators for Demand
12 EMR’s Key Indicators for Price
13 Procurement Strategy
14 Environmental Regulations
15 Competitive Landscape & Supplier Analysis
15.1 Solvay S.A.
15.1.1 Company Overview
15.1.2 Financial Analysis
15.2 Nalco Champion (Ecolab)
15.2.1 Company Overview
15.2.2 Financial Analysis
15.3 M-I SWACO (Schlumberger Company)
15.3.1 Company Overview
15.3.2 Financial Analysis
15.4.1 Company Overview
15.4.2 Financial Analysis
15.5 Baker Hughes, A GE Company LLC
15.5.1 Company Overview
15.5.2 Financial Analysis
15.6 Huntsman Corporation
15.6.1 Company Overview
15.6.2 Financial Analysis
15.7 BASF SA
15.7.1 Company Overview
15.7.2 Financial Analysis
15.8 Newpark Resources, Inc.
15.8.1 Company Overview
15.8.2 Financial Analysis
16 Events and Developments
Additional Customisations Available:
17 Manufacturing Process
17.1 Detailed Process Flow
17.2 Operations Involved
17.3 Mass Balance
18 Cost Analysis and Project Economics
18.1 Land, Location and Site Development
18.3 Plant Machinery
18.4 Cost of Raw Material
18.9 Other Capital Investment
The global drilling fluids market attained a value of nearly USD 9.7 billion in 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 2.5%. The industry is projected to reach a volume of around USD 11.3 billion by 2025.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on chemicals, the global drilling fluids market can be segmented into bentonite, barite, xanthan gum, potassium chloride, caustic soda, and soda ash, among others. North America, Latin America, Europe, the Middle East and Africa, Europe, and the Asia Pacific are the major regions in the market, with the United States and the Asia Pacific leading the overall global market. The key players in the above industry are Solvay S.A., Nalco Champion (Ecolab), M-I SWACO (Schlumberger Company), Halliburton, Baker Hughes, A GE Company LLC, Huntsman Corporation, BASF SA, and Newpark Resources, Inc.
The major drivers of the industry such as rising disposable incomes, increasing population, rising urbanisation, rising drilling operations, recovering oil prices, and favourable government policies are driving the growth of the drilling fluids market globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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