How To Make Your Product The Ferrari Of Water-based Drilling and Completion Fluids Market

The water-based drilling and completion fluids market size will grow by USD 1.95 billion during 2019-2023. This report offers an analysis of the market by application (onshore and offshore) and geography (APAC, Europe, Middle East and Africa, North America, and South America). The water-based drilling and completion fluids market research report analyzes the market’s competitive landscape and offers information on several companies including Baker Hughes, Halliburton, National Oilwell Varco, Newpark Resources, Schlumberger, and Weatherford.
Below are some of the key findings from the water-based drilling and completion fluids market research report
Water-based Drilling and Completion Fluids Market
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.

Global water-based drilling and completion fluids industry overview

The increase in global rig activity is one of the critical factors that will drive market growth in the forthcoming years. With the fluctuating global crude oil prices, there has been a significant increase in drilling projects as companies are increasingly investing in oil and gas projects to increase profit margins. Because of the continuously rising drilling operations, the demand for water-based drilling and completion fluids will increase as they form a crucial component for the drilling of oil and gas wells. Moreover, the rise in the number of active rigs for both onshore and offshore oil and gas drilling because of the surging collaborations among the major oil and gas suppliers will also accelerate water-based drilling and completion fluids market growth.
The emergence of nanotechnology for oilfield applications is one of the key trends expected to gain traction in the market. Nanoparticles are often used for enhancing and stabilizing well drilling as they increase the rate of penetration, reduce the cost of drilling, and minimize the environmental impact of the drilling process. The increased adoption of nanoparticles owing to their unique properties for improving the efficiency of drilling, mining, and other industrial operations will accelerate the market growth. The increasing global rig activity coupled with the emergence of nanotechnology for oil field applications will drive the water-based drilling and completion fluids market growth at a CAGR of close to 6%.

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