 |
North America clear brine fluids
market value by product, 2012 - 2020 (Kilo Tons)
|
In 2013, the
global clear brine fluids market was worth USD 926.7 million. As of May 2013, the count
for global rig was noted to be around 3,400. This increase in drilling activities
has driven the demand for global rig count which has also contributed to fuel
the growth of clear brine fluids market across the globe.
Move towards the growth of alternative energy resources such as CBM,
tight gas, and shale gas mainly in China and the U.S. is anticipated to drive
the growth of the global market. The Golden Triangle denotes oil & gas
reserves of deep water wrapping offshore Brazil, offshore West Africa and the
U.S. Gulf of Mexico (USGOM). Moreover, increased investment for deep water
investigation mainly in the region is also projected to increase the demand for
global clear brine fluids market. Egypt, Gulf of Mexico, the U.S., China, and
Russia experienced increased drilling activities on account of rising demand
for energy which is likely to drive the market.
Potassium chloride consumption accounted for over 20% of the global
market in 2013. This was the largest product segment in the same year and is
also anticipated to have the highest growth rate of over 10% from 2014 to 2020.
Potassium chloride is most widely used for servicing wells in oil & gas
industry. Wide applications range of all the bromides and chloride are expected
to drive the global market. These are favored above conventional drilling muds
on account of their effectiveness and cost efficiency. Primary applications of
potassium chloride and bromide fluids take account of deep water wells, high
& deep pressure oil sands and oil wells where general drilling muds are
susceptible to block the foundations.
North America accounted for over 60% of the global clear brine fluids
market in 2013. Shale gas flourishing in the U.S. is projected to provide the
region with an upper hand over the forecast period. Asia Pacific market is
anticipated to experience highest growth rate in production capabilities of
over 10% from 2014 to 2020. Growing exploration activities in India along with
the thriving oil & gas segment is projected to further boost the growth of
clear brine fluids market in the region.
The global clear brine fluids market is amalgamated with four companies
leading the market with over 50% market share and is characterized by a high
threat of new entrants. Major industry participants include TETRA Technologies,
M-I SWACO, Israel Chemicals Ltd., Halliburton, Albemarle Corporation and Great
Lake Solutions. These companies are taking steps to gain a competitive
advantage and to increase their product line.
Full
Research Report On clear brine fluids market Analysis:
http://www.grandviewresearch.com/industry-analysis/clear-brine-fluids-market
http://www.grandviewresearch.com/industry-analysis/clear-brine-fluids-market
Further key findings from the study suggest:
·
Global clear brine fluids market demand was
1,010.2 kilo tons in 2013 and is expected to reach 1,977.5 kilo tons by 2020,
growing at a CAGR of 10.1% from 2014 to 2020.
·
North America emerged as the leading
regional market for clear brine fluids and accounted for 64.9% of total market
volume in 2013. Increasing drilling activities in the U.S. on account of shale
gas boom and in Gulf of Mexico remained a key driving factor for the regional
market.
·
Asia Pacific is expected to witness the
highest growth at 11% over the next six years. Increasing drilling
activities in China on account of presence of large amount of untapped shale
gas in place is expected to remain a key driving factor for the regional
market. European clear brine fluids market is expected to reach USD 162.3
million by 2020, growing at a CAGR of 12% from 2014 to 2020.
·
Global clear brine fluids market is
moderately concentrated with top four companies including M-I SWACO,
Halliburton, Israel Chemicals Ltd., TETRA Technologies accounted for over 50%
of the total market. Other market participants include Albemarle Corporation,
Baker Hughes Inc., Zirax Ltd., The Egyptian Mud Engineering & Chemicals
Co., GEO Drilling Fluids Inc., Newpark Resources Inc. and Chemtura Corporation.
Clear brine fluids market recently, witnessed number of mergers and
acquisitions leading to significant opportunities for market participants.
View More Reports
Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the clear brine fluids market on the
basis of product and region:
Global Clear Brine Fluids
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
·
Potassium Chloride
·
Calcium Chloride
·
Sodium Chloride
·
Potassium Bromide
·
Calcium Bromide
·
Sodium Bromide
·
Others
Global Clear Brine Fluids
Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-clear-brine-fluids-market
https://www.grandviewresearch.com/press-release/global-clear-brine-fluids-market
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