Drilling Mud Market Estimated Global Revenue of 15.2 Billion By 2018
Date: 10/3/2013 The Global Drilling Fluids and Completion Fluids Market Is Expected To Reach $15.2 Billion by 2018, Growing At A CAGR Of 7.5% from 2013 To 2018 Drilling Fluids Or Drilling Mud Market; Water-Based Systems, Oil-Based Systems, Synthetic-Based Systems, And Other Based Systems For Onshore And Offshore Applications Drilling fluids and completion fluids are essential tools for conducting any drilling and exploration activities. They are used to avoid friction, provide lubrication, cool the wellbore, and transport rock cuttings to the surface. Every drilling activity requires drilling and completion fluids and they are used extensively across the globe. Drilling and completion fluids use different types of base fluids such as water-based systems, oil-based systems, synthetic-based systems, and other based systems. The use of drilling fluids and completion fluids base depends on the cost of the fluid, the desired performance, and environmental impact. The drilling and completion fluids market is directly depend on drilling activities carried across the globe. Recent increase in oilfield discoveries and rise in drilling activities will drive the drilling and completion fluids market over the next five years. The increasing world energy demand and rise in population are putting pressure to drill at high depths and enter deep and ultra-deep waters. These factors have been major drivers for the drilling fluids and completion fluids market. The global drilling fluids and completion fluids market is expected to reach $15.2 billion by 2018, growing at a CAGR of 7.5% from 2013 to 2018. The critical factors responsible for the growth of the drilling and completion fluids market include growth in drilling activities globally, rise in deep drilling activities onshore and offshore, discoveries of new CBM and shale reserves, and emergence of nanotechnology. The key concerns in the industry pertain to the environmental impacts and damages to eco system due to discharge of highly toxic chemicals. The drilling fluids and completion fluids market is also analyzed with respect to Porter’s five force model. Different market forces such as threat from suppliers, threat from buyers, degree of competition, threat from substitutes, and threat from new entrants are analyzed with respect to the drilling and completion fluids industry. The report also provides a competitive landscape of major market players with its developments, mergers & acquisition, expansion & investments, agreements & contracts, new technologies developments, and others. A number of these developments are spotted by key industry players that suggest the growth strategy of these companies as well as of the overall industry. For more information and details, please visit the RnR Market Research website. Learn more » ### CONTINUATION:
Huge market with estimated global revenue of $15.2 billion by 2018
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