Offshore Drilling Fluid Market By Type, By Applications, By End user industry : Global Opportunity Analysis and Industry Forecast, 2021-2031

List of Tables

The global offshore drilling fluid market was valued at $3.2 billion in 2021, and is projected to reach $4.8 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.

Drilling fluids, also known as drilling mud, assume a significant part in drilling activities in mineral extraction, oil and gas extraction, and bore wells. These drilling fluids are utilized to evacuate cuttings, grease up and cool the drilling bits, control the formation pressure and keep up the stability of well. In addition to this, offshore drilling fluids are used as shale inhibitors, corrosion inhibitors, defoamers, emulsifiers, filtration reducers, breakers, biocides, and weighting operators, with particular additives. The drilling fluids are basically of four types, water-based, oil-based, synthetic, and pneumatic fluids.

Expanding support to manage the energy demand predominantly from North America and Europe combined with a developing number of profound water discoveries in the Persian Gulf and Pacific areas is anticipated to drive the demand for offshore drilling fluids market over the forecast period. Manufacturing companies are moving their emphasis on growing new solutions in light of nanotechnology to beat mechanical and natural challenges. Rising maintenance costs and environmental dangers related to offshore areas have urged companies to deploy mud for cost-effective exploration activities. Developing interest in expanding the production rates, and productivity and mitigating gas-related capital expenditures are required to drive the market for offshore drilling fluids in the near future.

An increasing number of progressing ventures in the Middle East and Africa including, Maydan Mahzam and Bul Hanine fields are anticipated to drive the demand throughout the forecast period. The offshore drilling market size is studied on the basis of type, application, end user industry, and region. Based on type it is categorized into oil-based fluids (OBF), water-based fluids (WBF), synthetic-based fluids (SBF), and others. Water-based fluid is the second-largest segment in the global market in 2021. The water-based fluid selected in the operation depends on the well's condition, which comprises formate brine or saturated brine and fresh water. Growing concern toward toxicity and biodegradation of other drilling fluids is expected to play a vital role in rising product demand during the projected period. Water-based oil is expected to gain significance in the coming years owing to its ease of use and discharge feature in offshore activities. The rise in demand for an efficient fluid system in high-pressure and high-temperature wells is anticipated to trigger the demand for water-based oils.

Depending on the application, the market bifurcation is done into oil and gas extraction, maintaining wellbore stability, mineral extraction, and others. Wellbore instability can be a major cause of non-productive time (NPT) during the drilling and completion of a well. With wells becoming ever more challenging, tight holes, caving, pack-offs, and losses can impact on the company's variable costs. Wellbore instability is one of the main problems during drilling. The causes of wellbore instability are often classified into either mechanical (for example, failure of the rock around the hole. because of high stresses, and low rock strength) or inappropriate drilling. To prevent such losses proper drilling fluids are used with a required composition according to weather and extraction conditions. This acts as a driving factor for the offshore drilling fluid market.

On the basis of end user industry, the market segmentation is done into oil and gas, energy industry, and others. Region-wise, the offshore drilling fluid market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. These geographies are further sub-categorized into countries to cover offshore drilling fluid market scenarios across in respective regions. Asia Pacific is expected to witness growth due to the exploration of deep waters and tight oil reserves in the region. Implementation of advanced technologies to reduce production cost and enhance efficiency is playing an important role in the growth of the market in the region and is expected to expand further in the coming years.

The key players operating in the offshore drilling fluid industry are Halliburton Company, Aker Hughes Inc., General Electric, Akzo Nobel N.V., China Oilfield Services Limited, National Energy Services Reunited Corp., National Oilwell Varco, Inc., Shell Plc., Gumpro Drilling Fluids Pvt. Ltd, and Weatherford International Ltd. The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investments. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the offshore drilling fluid market analysis from 2021 to 2031 to identify the prevailing offshore drilling fluid market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the offshore drilling fluid market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global offshore drilling fluid market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Oil-Based Fluids
Water-Based Fluids
Synthetic-Based Fluids
Others

By Applications

Oil and Gas Extraction
Maintain Wellbore Stability
Mineral Extraction
Others

By End user industry

Oil and Gas
Energy Industry
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
LAMEA
- Brazil
- Saudi Arabia
- UAE
- Iran, Islamic Republic Of
- Rest of LAMEA
Key Market Players
- Halliburton Company
- Baker Hughes Inc.
- General Electric
- Akzo Nobel N.V.
- China Oilfield Services Limited
- National Energy Services Reunited Corp.
- National Oilwell Varco, Inc.
- Shell Plc.
- Gumpro Drilling Fluids Pvt. Ltd
- Weatherford International Ltd.

Product Code: A13812

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. High bargaining power of suppliers
- 3.3.2. Moderate bargaining power of buyers
- 3.3.3. Moderate threat of substitutes
- 3.3.4. High threat of new entrants
- 3.3.5. Moderate intensity of rivalry
3.4. Market dynamics
- 3.4.1. Drivers
  - 3.4.1.1. Growing investment to boost economy
  - 3.4.1.2. Increased exploration activities in untapped hydrocarbon reserves
- 3.4.2. Restraints
  - 3.4.2.1. Environmental threats from toxic waste
- 3.4.3. Opportunities
  - 3.4.3.1. Increasing demand for primary energy
3.5. COVID-19 Impact Analysis on the market
3.6. Market Share Analysis
3.7. Patent Landscape
3.8. Value Chain Analysis

CHAPTER 4: OFFSHORE DRILLING FLUID MARKET, BY TYPE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Oil-Based Fluids
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Water-Based Fluids
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Synthetic-Based Fluids
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
4.5. Others
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country

CHAPTER 5: OFFSHORE DRILLING FLUID MARKET, BY APPLICATIONS

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Oil and Gas Extraction
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Maintain Wellbore Stability
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. Mineral Extraction
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
5.5. Others
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country

CHAPTER 6: OFFSHORE DRILLING FLUID MARKET, BY END USER INDUSTRY

6.1. Overview
- 6.1.1. Market size and forecast
6.2. Oil and Gas
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
6.3. Energy Industry
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
6.4. Others
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country

CHAPTER 7: OFFSHORE DRILLING FLUID MARKET, BY REGION

7.1. Overview
- 7.1.1. Market size and forecast By Region
7.2. North America
- 7.2.1. Key trends and opportunities
- 7.2.2. Market size and forecast, by Type
- 7.2.3. Market size and forecast, by Applications
- 7.2.4. Market size and forecast, by End user industry
- 7.2.5. Market size and forecast, by country
  - 7.2.5.1. U.S.
  - 7.2.5.1.1. Key market trends, growth factors and opportunities
  - 7.2.5.1.2. Market size and forecast, by Type
  - 7.2.5.1.3. Market size and forecast, by Applications
  - 7.2.5.1.4. Market size and forecast, by End user industry
  - 7.2.5.2. Canada
  - 7.2.5.2.1. Key market trends, growth factors and opportunities
  - 7.2.5.2.2. Market size and forecast, by Type
  - 7.2.5.2.3. Market size and forecast, by Applications
  - 7.2.5.2.4. Market size and forecast, by End user industry
  - 7.2.5.3. Mexico
  - 7.2.5.3.1. Key market trends, growth factors and opportunities
  - 7.2.5.3.2. Market size and forecast, by Type
  - 7.2.5.3.3. Market size and forecast, by Applications
  - 7.2.5.3.4. Market size and forecast, by End user industry
7.3. Europe
- 7.3.1. Key trends and opportunities
- 7.3.2. Market size and forecast, by Type
- 7.3.3. Market size and forecast, by Applications
- 7.3.4. Market size and forecast, by End user industry
- 7.3.5. Market size and forecast, by country
  - 7.3.5.1. Germany
  - 7.3.5.1.1. Key market trends, growth factors and opportunities
  - 7.3.5.1.2. Market size and forecast, by Type
  - 7.3.5.1.3. Market size and forecast, by Applications
  - 7.3.5.1.4. Market size and forecast, by End user industry
  - 7.3.5.2. UK
  - 7.3.5.2.1. Key market trends, growth factors and opportunities
  - 7.3.5.2.2. Market size and forecast, by Type
  - 7.3.5.2.3. Market size and forecast, by Applications
  - 7.3.5.2.4. Market size and forecast, by End user industry
  - 7.3.5.3. France
  - 7.3.5.3.1. Key market trends, growth factors and opportunities
  - 7.3.5.3.2. Market size and forecast, by Type
  - 7.3.5.3.3. Market size and forecast, by Applications
  - 7.3.5.3.4. Market size and forecast, by End user industry
  - 7.3.5.4. Italy
  - 7.3.5.4.1. Key market trends, growth factors and opportunities
  - 7.3.5.4.2. Market size and forecast, by Type
  - 7.3.5.4.3. Market size and forecast, by Applications
  - 7.3.5.4.4. Market size and forecast, by End user industry
  - 7.3.5.5. Spain
  - 7.3.5.5.1. Key market trends, growth factors and opportunities
  - 7.3.5.5.2. Market size and forecast, by Type
  - 7.3.5.5.3. Market size and forecast, by Applications
  - 7.3.5.5.4. Market size and forecast, by End user industry
  - 7.3.5.6. Russia
  - 7.3.5.6.1. Key market trends, growth factors and opportunities
  - 7.3.5.6.2. Market size and forecast, by Type
  - 7.3.5.6.3. Market size and forecast, by Applications
  - 7.3.5.6.4. Market size and forecast, by End user industry
  - 7.3.5.7. Rest of Europe
  - 7.3.5.7.1. Key market trends, growth factors and opportunities
  - 7.3.5.7.2. Market size and forecast, by Type
  - 7.3.5.7.3. Market size and forecast, by Applications
  - 7.3.5.7.4. Market size and forecast, by End user industry
7.4. Asia-Pacific
- 7.4.1. Key trends and opportunities
- 7.4.2. Market size and forecast, by Type
- 7.4.3. Market size and forecast, by Applications
- 7.4.4. Market size and forecast, by End user industry
- 7.4.5. Market size and forecast, by country
  - 7.4.5.1. China
  - 7.4.5.1.1. Key market trends, growth factors and opportunities
  - 7.4.5.1.2. Market size and forecast, by Type
  - 7.4.5.1.3. Market size and forecast, by Applications
  - 7.4.5.1.4. Market size and forecast, by End user industry
  - 7.4.5.2. Japan
  - 7.4.5.2.1. Key market trends, growth factors and opportunities
  - 7.4.5.2.2. Market size and forecast, by Type
  - 7.4.5.2.3. Market size and forecast, by Applications
  - 7.4.5.2.4. Market size and forecast, by End user industry
  - 7.4.5.3. India
  - 7.4.5.3.1. Key market trends, growth factors and opportunities
  - 7.4.5.3.2. Market size and forecast, by Type
  - 7.4.5.3.3. Market size and forecast, by Applications
  - 7.4.5.3.4. Market size and forecast, by End user industry
  - 7.4.5.4. South Korea
  - 7.4.5.4.1. Key market trends, growth factors and opportunities
  - 7.4.5.4.2. Market size and forecast, by Type
  - 7.4.5.4.3. Market size and forecast, by Applications
  - 7.4.5.4.4. Market size and forecast, by End user industry
  - 7.4.5.5. Australia
  - 7.4.5.5.1. Key market trends, growth factors and opportunities
  - 7.4.5.5.2. Market size and forecast, by Type
  - 7.4.5.5.3. Market size and forecast, by Applications
  - 7.4.5.5.4. Market size and forecast, by End user industry
  - 7.4.5.6. Rest of Asia-Pacific
  - 7.4.5.6.1. Key market trends, growth factors and opportunities
  - 7.4.5.6.2. Market size and forecast, by Type
  - 7.4.5.6.3. Market size and forecast, by Applications
  - 7.4.5.6.4. Market size and forecast, by End user industry
7.5. LAMEA
- 7.5.1. Key trends and opportunities
- 7.5.2. Market size and forecast, by Type
- 7.5.3. Market size and forecast, by Applications
- 7.5.4. Market size and forecast, by End user industry
- 7.5.5. Market size and forecast, by country
  - 7.5.5.1. Brazil
  - 7.5.5.1.1. Key market trends, growth factors and opportunities
  - 7.5.5.1.2. Market size and forecast, by Type
  - 7.5.5.1.3. Market size and forecast, by Applications
  - 7.5.5.1.4. Market size and forecast, by End user industry
  - 7.5.5.2. Saudi Arabia
  - 7.5.5.2.1. Key market trends, growth factors and opportunities
  - 7.5.5.2.2. Market size and forecast, by Type
  - 7.5.5.2.3. Market size and forecast, by Applications
  - 7.5.5.2.4. Market size and forecast, by End user industry
  - 7.5.5.3. UAE
  - 7.5.5.3.1. Key market trends, growth factors and opportunities
  - 7.5.5.3.2. Market size and forecast, by Type
  - 7.5.5.3.3. Market size and forecast, by Applications
  - 7.5.5.3.4. Market size and forecast, by End user industry
  - 7.5.5.4. Iran, Islamic Republic Of
  - 7.5.5.4.1. Key market trends, growth factors and opportunities
  - 7.5.5.4.2. Market size and forecast, by Type
  - 7.5.5.4.3. Market size and forecast, by Applications
  - 7.5.5.4.4. Market size and forecast, by End user industry
  - 7.5.5.5. Rest of LAMEA
  - 7.5.5.5.1. Key market trends, growth factors and opportunities
  - 7.5.5.5.2. Market size and forecast, by Type
  - 7.5.5.5.3. Market size and forecast, by Applications
  - 7.5.5.5.4. Market size and forecast, by End user industry

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021

CHAPTER 9: COMPANY PROFILES

9.1. Halliburton Company
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
9.2. Baker Hughes Inc.
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
9.3. National Oilwell Varco, Inc.
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
9.4. Shell Plc.
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
9.5. General Electric
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
9.6. Akzo Nobel N.V.
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
9.7. Gumpro Drilling Fluids Pvt. Ltd
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
9.8. China Oilfield Services Limited
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
9.9. Weatherford International Ltd.
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
9.10. National Energy Services Reunited Corp.
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance