Drilling Fluids Market

Drilling fluid is any fluid that circulated in the borehole to help in carrying out a cost-effective and efficient drilling operation resulting in stable and gauged borehole to targeted depth with minimum possible damage to prospective formations.

Drilling fluid, also called drilling mud is used to aid the drilling of boreholes into the earth. Often used while drilling oil and natural gas wells and on exploration drilling rigs, drilling fluids are also used for much simpler boreholes, such as water wells. One of the functions of drilling mud is to carry cuttings out of the hole.

The main functions of drilling fluids include providing hydrostatic pressure to prevent formation fluids from entering into the well bore, keeping the drill bit cool and clean during drilling, carrying out drill cuttings, and suspending the drill cuttings while drilling is paused and when the drilling assembly is brought in and out of the hole. The drilling fluid used for a particular job is selected to avoid formation damage and to limit corrosion.

Drilling Fluids Market contains market size and forecasts of Drilling Fluids in global, including the following market information:

Global Drilling Fluids Market Revenue, 2018-2023, 2023-2030, ($ millions)

Global Drilling Fluids Market Sales, 2018-2023, 2023-2030, (MT)

Global top five Drilling Fluids companies in 2022 (%)

The global Drilling Fluids market was valued at 9992.2 million in 2022 and is projected to reach US$ 11780 million by 2030, at a CAGR of 2.4% during the forecast period 2023-2030.

The U.S. Market is Estimated at $ Million in 2022, While China is Forecast to Reach $ Million by 2030.

Oil-Based Fluids (OBF) Segment to Reach $ Million by 2030, with a % CAGR in next six years.

The global key manufacturers of Drilling Fluids include Schlumberger, Halliburton, Baker Hughes, Newpark Resources, Tetra Technologies, CES Energy Solutions, NOV Inc., Scomi Group Bhd and Secure Energy Services, etc. In 2022, the global top five players have a share approximately % in terms of revenue.

We surveyed the Drilling Fluids manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Drilling Fluids Market, by Type, 2018-2023, 2023-2030 ($ Millions) & (MT)

Global Drilling Fluids Market Segment Percentages, by Type, 2022 (%)

Oil-Based Fluids (OBF)

Water Based Fluids (WBF)

Others

Global Drilling Fluids Market, by Application, 2018-2023, 2023-2030 ($ Millions) & (MT)

Global Drilling Fluids Market Segment Percentages, by Application, 2022 (%)

Onshore Drilling

Offshore Drilling

Other

Global Drilling Fluids Market, By Region and Country, 2018-2023, 2023-2030 ($ Millions) & (MT)

Global Drilling Fluids Market Segment Percentages, By Region and Country, 2022 (%)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Benelux

Rest of Europe

Asia

China

Japan

South Korea

Southeast Asia

India

Rest of Asia

South America

Brazil

Argentina

Rest of South America

Middle East & Africa

Turkey

Israel

Saudi Arabia

UAE

Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Drilling Fluids revenues in global market, 2018-2023 (Estimated), ($ millions)

Key companies Drilling Fluids revenues share in global market, 2022 (%)

Key companies Drilling Fluids sales in global market, 2018-2023 (Estimated), (MT)

Key companies Drilling Fluids sales share in global market, 2022 (%)

Further, the report presents profiles of competitors in the market, key players include:

Schlumberger

Halliburton

Baker Hughes

Newpark Resources

Tetra Technologies

CES Energy Solutions

NOV Inc.

Scomi Group Bhd

Secure Energy Services

Weatherford International

Q?Max Solutions

CNPC

Sinopec

CNOOC