DRILLING CHEMICALS MARKET - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
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REPORT DESCRIPTION
Drilling Chemicals Market Overview Drilling chemicals are majorly used in processes such as oil & gas exploration, metal & mineral extraction, coal seam gas drilling, and for bore well drilling. Drilling chemicals are useful in terms of cooling and lubrication of the drilling equipment, maintaining the pressure, removing cuttings from bore wells, and providing support and stabilizing the bore well area. Drilling chemicals are widely used to aid drilling boreholes into the earth’s crust. The rising number of deep water discoveries, especially in the Pacific regions as well as the Persian Gulf is expected to surge growth of the market. Increasing usage of drilling chemicals is majorly attributed to major investments in energy & mineral exploration. Increasing demand for base metals, precious metals, oil, and natural gas is in turn resulting into rapid growth of the global drilling chemicals market in the recent past. This is primarily the resultant of rising rate of urbanization and industrialization in emerging economies. Growing concerns for spill containment, holding solid wastes and bore holes is also expected to augment growth of the market over the forecast period (2016–2024). Also, factors such as increasing offshore drilling activities across various regions, shale boom in few regions, and increasing exploration activities to discover untapped oil & gas reserves are also expected to be potential drivers of the market. Š Coherent market Insights. All Rights Reserved
REPORT DESCRIPTION Drilling Chemicals Market Taxonomy By Product Type Global market can be segmented on the basis of type of drilling chemicals into the following: Potassium Chloride Bentonite Barite By Application On the basis of application, the global market can be segmented into: Offshore Drilling Onshore Drilling Onshore drilling is considered as the largest application which has a direct impact on the growth of the drilling chemicals market. Request Sample of Drilling Chemical Market: https://www.coherentmarketinsights.com/insight/request-sample/334 © Coherent market Insights. All Rights Reserved
REPORT DESCRIPTION
Drilling Chemicals Market Outlook- Asia Pacific is expected to be the Most Lucrative Region for the Key Players Regional segmentation for the global drilling chemicals market includes North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America holds a dominant position in the global drilling chemicals industry, owing to increasing oil and natural gas production in the region along with potential developments in oilfield in countries such as U.S. and Canada. Asia Pacific is expected to be the fastest growing market, owing to the increasing demand for drilling chemicals in countries such as China and India. According to data released by the Department of Industrial Policy and Promotion (DIPP), the petroleum and natural gas sector in India attracted FDI valued at US$ 6.8 billion between April 2000 and December 2016. Demand for drilling chemicals in certain countries such as UK and Netherland are significantly high owing to new oilfield exploration activities. Request to view the table of Content: https://www.coherentmarketinsights.com/ongoing-insight/toc/334
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