Transparency Market Research presents a thoroughly researched study on the global drilling chemicals market. The extensive research report assesses the trends and dynamics in the global drilling chemicals through primary and secondary sources of information. The research report, titled “Drilling Chemicals (Offshore & Onshore) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018,” gives a complete evaluation of the strengths, weaknesses, opportunities, and threats that are prevalent in the market with the help of SWOT analysis. Furthermore, the research report also examines the threat of new entrants, the threat of substitute products or services, the bargaining power of customers, the bargaining power of suppliers, and the intensity of competitive rivalry through Porter's five forces analysis. The holistic scope of the research report provides the readers with a framework upon which to base their business decisions.
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The global drilling chemicals market is being driven by growing expenditure on the exploration of hydrocarbon and mineral reserves. In the past few years, the drilling chemicals market has been witnessing tremendous growth. This positive trend is being fueled by the increasing demand for precious metals, base metals, natural gas, and oils. The increasing industrialization and urbanization in developing countries are primarily responsible for the aforementioned factors.
The global drilling chemicals market has been segmented on the basis of product type into onshore and offshore chemicals. These chemicals are used in oil and gas exploration, mineral extraction, coal seam gas drilling, and borewell drilling for lubrication and cooling of drilling equipment, maintaining pressure, removing cuttings from bore wells, and stabilizing and supporting the borewell area. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Currently, North America dominates the global drilling chemicals market. Latin America and the Middle East and Africa trail this market closely. The increasing activities pertaining to shale gas in the U.S. and Canada are attributable to the growth of the drilling chemicals market in North America. According to research analysts, the growing number of onshore wells is expected to propel the drilling chemicals market across the globe due to reduced costs.
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Some of the key players in the global drilling chemicals market are Global Fluids & Chemical Co., Academichem (Beijing) Co. Ltd., United Mud Chem, Halliburton, Baker Hughes, Champion Technologies, M-I SWACO, and Newpark Drilling Fluids LLC. The research report evaluates the competitive landscape of the global drilling chemicals market and the regulatory framework impacting its trajectory. Furthermore, the research report also presents an analysis of the company profiles, financial overview, research and development activities, investment outlook, product portfolio, and strategic mergers and acquisitions of these top players.
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