Drilling chemicals are used in metal and mineral extraction, oil and gas exploration, coal seam gas drilling, and for borewell drilling. Drilling chemicals can be broadly classified into offshore and onshore chemicals depending on the applications of these chemicals. The main functions of these chemicals include maintaining the pressure, cooling and lubrication of the drilling equipment, removing cuttings from bore wells, and to support and stabilize the borewell area.
Consumption of drilling chemicals is primarily driven by the expenditure in energy and mineral exploration. The global market for drilling chemicals is witnessing significant growth in the past few years. Increasing demand for base metals, precious metals, oil, and natural gas is driving the growth of the drilling chemicals’ market. This is largely driven by urbanization and industrialization in developing countries.
To check out the table of contents, visit: http://www.marketresearchreports.biz/analysis-details/drilling-chemicals-offshore-and-onshore-market-global-industry-analysis-size-share-growth-trends-and-forecast-2012-2018
Among all the regions Northern America dominates the market followed by Latin America, Africa, and the Middle East. Development of shale in Canada and the U.S. is driving the market for drilling chemicals, particularly in hydraulic and horizontal drilling. The development of onshore wells will fuel the drilling chemical market more than offshore wells since the cost of offshore wells is considerably higher than onshore ones. Decreasing reserves in shallow and onshore waters and the development in drilling technologies are driving the activities in deepwater offshore regions. This is mostly witnessed by Brazil, West Africa, U.S., and the Gulf of Mexico. Brazil is the fastest growing market due to considerable oil gains and increased offshore activity. Drilling chemicals have a direct impact on the environment and hence product manufacturers have to follow strict regulatory procedures to address safety, the environment, and health concerns.
Government bodies are involved in product development life cycle to minimize health and environment hazards. Companies producing ‘zero-waste’ chemicals are gaining competitive advantage.
Some of the leading participants in the industry are Global Fluids & Chemical Co., United Mud Chem, Academichem (Beijing) Co. Ltd., Baker Hughes, Halliburton, Newpark Drilling Fluids LLC, Champion Technologies, and M-I SWACO.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
To Buy The Copy of This Report Visit: http://www.marketresearchreports.biz/analysis/169889
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
MarketResearchReports.Biz is the most comprehensive collection of market research reports. MarketResearchReports.Biz services are especially designed to save time and money of our clients. We are a one stop solution for all your research needs, our main offerings are syndicated research reports, custom research, subscription access and consulting services. We serve all sizes and types of companies spanning across various industries.
90 Sate Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-997-4948