North America Drilling Fluids Market Size, Share, Opportunities, And Trends By Fluid Type (Water-Based, Oil-Based, Others), By Application (On-Shore Drilling, Off-Shore Drilling), By End-User (Oil & Gas, Mining), And By Country - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061615387
- Pages : 85
Drilling fluids are designed to perform various functions, including stabilizing the borehole, cooling and lubricating the drill bit, and controlling the pressure. The main types of drilling fluids include water-based and oil-based which are used in the oil & gas and mining sectors to facilitate the drilling process. The North American region has vast oil & gas reserves and a diverse mining industry in which the use of drilling fluids is essential to ensure efficient and safe drilling operations. The growing production and consumption of oil & gas in the region is expected to propel the market growth
Rising oil and gas production will accelerate the growth of the drilling fluids market in North America.
The demand for oil and gas continues to grow globally, and North America is one of the largest producers of these resources, and to meet this demand, drilling activities have increased. The use of drilling fluids is critical in the oil and gas industry as they help to maintain the stability of the borehole, control pressure, cool and lubricate the drill bit, and carry drill cuttings to the surface. The efficient and safe drilling of oil and gas wells is heavily reliant on the use of effective drilling fluids. The rising production of oil & gas in North America will boost the demand for drilling fluids. In 2022, the US Energy Information Administration projected that crude oil production in the USA will rise to 11.79 million barrels per day (bpd) in 2022 and 12.63 million bpd in 2023 from 11.25 million bpd in 2021. According to EIA in 2022, with a 7% increase from 2021, the United States' exports of petroleum products reached a new high. This shows that drilling fluids have great demand in North America
Growing mining activity is expected to boost the North American drilling fluids market growth.
The North American region is home to a vast array of minerals, including gold, iron ore, and copper. The increasing demand for these minerals from various end-users is driving the growth of the mining industry in the region. Mining activities require drilling fluids as they help in reducing the friction and heat generated during the drilling process, preventing damage to the drill bit. The increase in mining activities in North America is projected to boost the demand for drilling fluid in the region. According to the United States Geological Survey (USGS) report in 2020, approximately 86.3 billion minerals were produced by U.S. mines in 2019, which is more than 2 billion greater than the finalized output figures for 2018. According to American Mine Services in 2020, the mined resources including gold, copper, iron ore, and others led to an estimated $82.3 billion in value for the mining sector in the US.
- CES drilling fluid: This product made by CES Energy Solutions is the drilling fluid suited for the diverse geological formations and drilling methods employed in Canada and the United States, and is designed to help clients eliminate inefficiencies in the drilling process and to assist them in meeting operational objectives and environmental compliance obligations.
- TETRA CS Neptune® Fluids: Tetra Technologies Inc. made this fluid which is the preferred solution to the industry’s search for environmentally friendly, cost-effective alternatives to zinc brines (which the U.S. classifies as “marine pollutants” ) or cesium formates, which replaced zinc brines in the North Sea.
- Gilsonite® uintaite: Such drilling fluid oil by American Gilsonite Company is the only drilling fluid that controls fluid loss and seepage, reforms in oil- and water-based drilling muds, and strengthens the wellbore.
- By Fluid Type
- By Application
- On-Shore Drilling
- Off-Shore Drilling
- By End-User
- Oil & Gas
- By Country
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Year Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. NORTH AMERICA DRILLING FLUIDS MARKET ANALYSIS, BY FLUID TYPE
6. NORTH AMERICA DRILLING FLUIDS MARKET ANALYSIS, BY APPLICATION
6.2. On-Shore Drilling
6.3. Off-Shore Drilling
7. NORTH AMERICA DRILLING FLUIDS MARKET ANALYSIS, BY END-USER
7.2. Oil & Gas
8. NORTH AMERICA DRILLING FLUIDS MARKET ANALYSIS, BY COUNTRY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. AES Drilling Fluids
10.2. American Gilsonite Company
10.3. Baker Hughes Company
10.4. CES Energy Solution
10.5. Global Drilling Fluids & Chemicals Limited
10.7. National Energy Service Reunited Corp
10.8. Newpark Resource Inc.
10.9. Tetra Technologies Inc.
10.10. Weatherford International
American Gilsonite Company
Baker Hughes Company
CES Energy Solution
Global Drilling Fluids & Chemicals Limited
National Energy Service Reunited Corp
Newpark Resource Inc.
Tetra Technologies Inc.
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