Persistence Market Research
Drilling operations are increasingly getting deeper, chemically harsher, hotter and more expensive. As a result, operators need effective and proven technology to work in such harsh mud systems. The loss of liquid to reservoir formation carries a high risk of permeability damage. In order to solve these problems, fluid loss control additives are utilized. Fluid loss control additives are primarily used to maintain a constant fluid volume within a slurry of cement to ensure that the performance properties of slurry remain within an acceptable range. Fluid loss control additives are customized for specific applications and these custom formulations assist operators maintain wellbore stability and overall drilling efficiency while minimizing HSE footprint.
Various types of additives are available in the market for fluid loss. Recently, the American Petroleum Institute studied grapheme oxide as an additive and it performed well as a filtration additive in water-based drilling fluids at low concentrations. Attributing to environmental demands in the oil and gas industry to prevent the destruction of coastal habitat and marine resources, environment friendly fluid loss control additives have become a necessity. Fluid loss control additives are available in various special grades, including LGT, MGT and HGT. These additives have low solubility in hydrocarbons and minimum plastic flow in all grades, they also impart excellent filtrate control in oil based drilling fluid systems.
Global Fluid Loss Control Additives Market: Segmentation
Based on additive type, the global fluid loss control additives market can be segmented into water soluble and water insoluble additives.
Global Fluid Loss Control Additives Market: Dynamics
Environmental safety concerns and pertaining regulations are contributing to the increase in demand from the oil & gas drilling industry. The petroleum industry is encouraging research on drilling fluid sand additives, such as non-toxic viscosity reducers and fluid loss control additives. These factors are expected to boost demand and drive the global fluid loss control additives market over the forecast period. Further, surging oil & gas drilling activities, supported by the increasing demand for end-products and rising investments in the oil & gas projects, are also slated to push the demand for fluid loss control additives over the forecast period.
Environmental regulations encourages the utilization of water based fluids and its application in areas where the oil based drilling fluids have been utilized owing to the certain challenges.
Preventing the destruction of aquatic bodies, such as coastal areas, fishes and oceans, with the introduction of environmental and user friendly fluid loss control additives in water-based muds for oil & gas drilling operations is one of the key trends identified in the global fluid loss control additives market.
Global Fluid Loss Control Additives Market: Regional Outlook
On the basis of geography, the fluid loss control additives market is dominated by Middle East & Africa and North America regions, owing to the availability of significant oil reserves in countries, such as Canada, Kuwait, Saudi Arabia and Iran. Asia Pacific and Europe are expected to exhibit moderate growth in the global fluid loss control additives market over the next decade. Latin America is also expected to register moderate growth in the market over the forecast period.
Global Fluid Loss Control Additives Market: Market Participants
Examples of some of the market participants identified across the value chain of the global fluid loss control additives market include Schlumberger Limited, BASF SE, Halliburton, Newpark Resources Inc., Sepcor, Inc., Kemira, Tytan Organics, Aubin Group and Global Drilling Fluids & Chemicals Limited.
Key manufacturers of fluid loss control additives are found to be involved in research & development activities in order to enhance their market presence across the globe. The global fluid loss control additives market is one of the most consolidated markets as there are a small number of players involved in the manufacturing of additives.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
The main aim of the report is to:
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.