London, 24 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Drilling and Completion Fluids Market 2015-2019, which is expected to grow at a CAGR of 8.02 percent during the period 2014-2019.
“The technological advancements have resulted in the usage of different additives (natural and synthetic polymer, asphalt, and gilsonite), reduction in fluid loss, disposal of harmful fluids, and reduction in environmental effects,” says Faisal Ghaus, Vice President of TechNavio.
“As a result of these advances the overall volume of oil and gas production has increased, whereas the cost and risk have significantly reduced.”
Key Market Drivers
- Increase in Exploration and Drilling Activities
- Rise in Exploration for Unconventional Gas
- Increase in Horizontal Drilling Techniques
- Increased Focus on Deepwater and Ultra Deepwater Drilling
Key Market Trends
- Increase in Incorporation of Nanofluids
- Rapid Advances in Technology
- Increase in R&D Efforts
- Focus on Minimization of Formation Damage
Key Market Vendors
- Baker Hughes Inc.
- Calumet Specialty Products Partners LP
- Halliburton Corp.
- Newpark Resources Inc.
- Schlumberger Ltd.
- TETRA Technologies Inc.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
