Market Research Report
Clear Brine Fluids Market Size, Share & Trends Analysis Report By Product (Zinc Calcium Bromide, Cesium Formate, Potassium Chloride, Calcium Chloride, Sodium Bromide), And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||799150|
|Published||Content info||124 Pages
Delivery time: 2-10 business days
|Clear Brine Fluids Market Size, Share & Trends Analysis Report By Product (Zinc Calcium Bromide, Cesium Formate, Potassium Chloride, Calcium Chloride, Sodium Bromide), And Segment Forecasts, 2019 - 2025|
|Published: February 21, 2019||Content info: 124 Pages||
The global clear brine fluids market size is expected to reach USD 1.03 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 3.3% during the forecast period. Increasing number of drilling operations is creating the need for completion and workover chemicals, thereby driving the demand for clear brine fluids.
Increasing deployment of Hydraulic Fracturing and Enhanced Oil Recovery (EOR) operations have resulted in an increased demand for clear brine fluids, which are not only more environment-friendly than oil-based completion fluids but also provide excellent penetration rates in unconventional formations. Moreover, rising acceptance of hydraulic fracturing and horizontal drilling techniques in shale gas exploration is likely to spur the product demand.
These brines offer more lubricity compared to the water-based muds and they function as drop-in substitutes for oil-based muds, especially in situations of horizontal lateral and multi-lateral operations. The economic benefits and technical advantages of clear brine fluids over the oil-based drilling muds are anticipated to play a crucial role in driving the market in near future.
Cesium Formate Solution (CsFO) has emerged as one of the most significant brines used by several key service providers and E&P companies for the most efficient completion operations. The segment is expected witness the fastest growth over the forecast period and is project to grow at a CAGR of 3.1% in terms of volume from 2019 to 2025.
Major market players include: Albemarle Corporation, Tetra Technologies, Zirax Limited, and Solent Chemicals.