Drilling Fluids Market Size, Share, Opportunities, And Trends By Fluid Type (Water-Based, Oil-Based, Synthetic-Based, Other fluid types), By Application (Onshore, Offshore), And By Geography - Forecasts From 2025 To 2030
- Published : May 2025
- Report Code : KSI061610493
- Pages : 145
Drilling Fluids Market Size:
The Drilling Fluids Market is expected to grow from USD 9.977 billion in 2025 to USD 12.547 billion in 2030, at a CAGR of 4.69%.
The expansion is attributed due to the growing demand in the major end-users of oil & gas such as transportation and power plants which is propelling the global oil & gas drilling activities in major countries. Moreover, new possibilities for the drilling fluids market are anticipated to arise due to the growing worries about handling solid wastes, spill containment, and collapsing boreholes during the forecast period. Over the forecast period, the drilling fluid market is anticipated to have tremendous expansion due to the expanding offshore industry, particularly in the Persian Gulf.
Drilling Fluids Market Growth Drivers:
- Increasing Energy Consumption
The increase in population and industrialization activity has resulted in increased daily energy usage. It has been determined that around 84% of the world's energy comes from fossil fuels as per the Environmental and Energy Study Institute. As a result, there has been a rise in the extraction of oil, gas, and other fossil fuels. Drilling fluid use is on the rise globally due to increased expenditure in offshore oil and gas exploration and production. Further, according to the IEA 2021 study, by 2040, there will be a 31% increase in global demand for natural gas, which will account for 17% of all energy consumed globally. By 2040, crude oil would likely see an increase in demand of 21%, accounting for 35% of all energy use.
- Increasing Investment
The market is experiencing a lot of changes due to rising investments by the government and key market players. For instance, Exxon Mobil Corporation announced plans to invest USD 20 billion by 2022 in expanding its oil refinery on the U.S. Gulf Coast, which might help meet the region's future need for drilling fluids. In addition, measures to develop the oil and gas industry in developing nations are anticipated to promote the expansion of the drilling fluids market. Additionally, the Indian government has approved 100% foreign direct investment in upstream and private refining plants. Furthermore, it is predicted that a great demand for drilling will be created during the estimated period by hurried investments in oil and gas exploration activities in Mexico, drilling, and production accomplishments.
Drilling Fluids Market Geographical Outlook:
- North America is Expected to Grow Considerably
The United States is expected to hold a substantial share of the market owing to its robust drilling activities which is the major factor contributing to the increasing demand during the forecast period. With the growth in this production, the utilization of drilling fluids is also increasing which is anticipated to fuel the market. West Texas and Southeast New Mexico have been included in the basin. The Permian Basin spans West Texas and Southeast New Mexico, being about 250 miles broad and 300 miles long. The Delaware Basin and Midland Basin are only two of the basin's many sub-basins.
Segmentation:
- By Fluid Type
- Water-Based
- Oil-Based
- Synthetic-Based
- Other fluid types
- By Application
- Onshore
- Offshore
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- Spain
- United Kingdom
- Italy
- France
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Thailand
- Taiwan
- Others
- North America
Frequently Asked Questions (FAQs)
The drilling fluids market is expected to reach a total market size of US$12.547 billion by 2030.
Drilling Fluids Market is valued at US$9.977 billion in 2025.
The drilling fluids market is expected to grow at a CAGR of 4.69% during the forecast period.
North American region is expected to hold a significant share of the drilling fluids market owing to huge reserves of unconventional hydrocarbon reserves coupled with the growth in gas exploration and increase in drilling activity for oil and gas in the region.
The rising worldwide energy demand due to population increase is the primary driver of the drilling fluids market.
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Sources
2.3. Research Design
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. DRILLING FLUIDS MARKET ANALYSIS, BY FLUID TYPE
5.1. Introduction
5.2. Water-Based
5.3. Oil-Based
5.4. Synthetic-Based
5.5. Other fluid types
6. DRILLING FLUIDS MARKET ANALYSIS, BY APPLICATION
6.1. Introduction
6.2. Onshore
6.3. Offshore
7. DRILLING FLUIDS MARKET ANALYSIS, BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. By Fluid Type
7.2.2. By Application
7.2.3. By Country
7.2.3.1. USA
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. South America
7.3.1. By Fluid Type
7.3.2. By Application
7.3.3. By Country
7.3.3.1. Brazil
7.3.3.2. Argentina
7.3.3.3. Others
7.4. Europe
7.4.1. By Fluid Type
7.4.2. By Application
7.4.3. By Country
7.4.3.1. Germany
7.4.3.2. Spain
7.4.3.3. United Kingdom
7.4.3.4. Italy
7.4.3.5. France
7.4.3.6. Others
7.5. Middle East and Africa
7.5.1. By Fluid Type
7.5.2. By Application
7.5.3. By Country
7.5.3.1. Saudi Arabia
7.5.3.2. UAE
7.5.3.3. Others
7.6. Asia Pacific
7.6.1. By Fluid Type
7.6.2. By Application
7.6.3. By Country
7.6.3.1. China
7.6.3.2. Japan
7.6.3.3. India
7.6.3.4. South Korea
7.6.3.5. Indonesia
7.6.3.6. Thailand
7.6.3.7. Taiwan
7.6.3.8. Others
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Market Share Analysis
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Ingevity corporation
9.2. ExxonMobil Corporation
9.3. Phillips 66 (Chevron Philips Chemicals LLC.)
9.4. Halliburton (Baker Hughes, Inc)
9.5. Schlumberger Technology Corporation
9.6. Newpark Drilling Fluids
9.7. Honeywell (Tetra Technologies)
9.8. Weatherford International
9.9. Canadian Energy Services
9.10. Flotek Industries, Inc.
9.11. Petrochem Performance Chemicals LLC
9.12. AES Drilling Fluids, LLC
Ingevity corporation
ExxonMobil Corporation
Phillips 66 (Chevron Philips Chemicals LLC.)
Halliburton (Baker Hughes, Inc)
Schlumberger Technology Corporation
Newpark Drilling Fluids
Honeywell (Tetra Technologies)
Weatherford International
Canadian Energy Services
Petrochem Performance Chemicals LLC
AES Drilling Fluids, LLC
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